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Paul and Terry's Quick Market Update - JUNE, 2015
Blog by Paterson & Associates | July 21st, 2015
As with May's Quick Market Update, we hope to keep you as well informed as possible on the Calgary Real Estate market. These semi-frequent communications hopefully offer better insight into the potential equity in your home and will allow those looking to buy a home or even an investment property some reasonable expectations when entering the market.
JUNE at a glance...
- Market continuing to stabilize:
- Housing inventory continues to drop in Calgary.
- Months-of-supply decreased again from 2.43 to 2.32 = balanced market.
- Still higher than the 1.81 months-of-supply in June last year, but stronger than 5 and 10 year averages.
- Total Sales to New Listings
- Sales are down almost 18% from June 2014, but...
- New listings are also down almost 18%
- June home sales were 5% below 10 year averages, but 3% ABOVE 5 year averages.
- Benchmark and Median prices GROW from June 2014.
- However, apartment pricing is still down 2.04% and 2.74% respectively from last year's numbers.
- Calgary's Real Estate market is showing every sign of a balanced market. Those buyers' who were hoping to "wait out the market" in hopes of seeing price decreases have not seen the dramatic changes some believed were coming. That being said there is still some consumer reluctance particularly in the $500+ marketplace.
- "Even though city-wide prices were essentially unchanged in June, it’s important to note that activity can vary significantly depending on community, property type and price range. Every transaction has its own unique features, which is why we always encourage consumers to discuss these differences with local experts.” - CREB President, June 2015
- Interest Rates Stay Strong
- We are still seeing strong rates on excellent mortgage products. There is much debate on whether on not we will see rates rise in the coming months, but it's suffice to say that your should meet with a skilled mortgage advisor should you be looking for a more informed perspective.
*Please note that this data is high-level information. When looking to buy or sell you should be also be looking at segmented statistics...property style, neighbourhood, comparable adjusted pricing...only to name a few.
CREB - JUNE 2015 - Please click on link for more info.
|WE'RE HERE TO HELP...
We build our business mainly on referrals. That's why we work hard to be "referral worthy" REALTORS® -- the kind you can trust to recommend to your friends, neighbours, work colleagues and family members.
But what you may not know is all the ways we help people who are moving, or even just thinking about moving.
For example, we can help:
- Answer any questions or concerns they have about moving.
- Walk them through the home buying or selling process.
- Help them determine what kind of mortgage they will qualify for.
- Provide them with useful tips on preparing their current home for sale, so that it is as attractive as possible to buyers.
- Fill them in on homes currently available on the market that closely fits their needs, wants and budget.
- Show them how to make the entire process smooth and stress-free.
And much more.
So if you know someone who would benefit from our help, even if they're not sure they're going to make a move, please give them our name.
We promise to treat them right! - Paul & Terry, Your Advocates in Real Estate...For Life!