Housing Market Inventory on the Rise

Posted by Nancy Ball on Saturday, April 14th, 2018 at 12:04am.

Hi Everyone,

It has been a tough week for our country as we offer thoughts and support for all of those affected by the Humboldt Broncos. I, myself come from a hockey family and have many family members in Saskatchewan & Alberta who play. Ryan Straschnitzki from Airdrie has set an example on defining a positive attitude and his words have stayed with me:

"Don't live in the past and focus on right now....Never give up. If you are going through a tough time, you can reach out for support and know things will come around."

I know there will be ups and downs for him and many others but I felt compelled to share. 

I will now shift my focus on keeping you informed on the market. There are 188 new listings added just this week and sales are down 27% from last year. These are great opportunities for buyers! My listings have been selling on average 19 days on the market compared to the city's 52 days average. On April 18, the Bank of Canada is predicted to announce an interest rate increase, so stay tuned!

Special thanks to Claire Smith, Ben Miller, Jennifer Marsden & Hank Slezsinski for their referrals last month. I'm so grateful for their trust and loyalty in me. As an all-around realtor, I am happy to help my clients out as much as I can with the many services I offer.

Want a free home evaluation with no obligations? What matters to me most is providing you with value added services so you can make knowledgeable decisions. Click here to find out what your home is worth.

Don't really know what community you want to move into? My website has searches setup starting with each quadrant of the city, then by community in each quadrant. This is a good tool to help you get started with your home search! Click here to get started!

Need help with organization or designing/staging a room? Contact me to setup a consultation.

If you know of someone buying or selling, let me know if I can help. 

-Nancy

P.S. Don't forget to enter the latest CIR contest to win a full cleaning of your home! Enter here now.

Housing Market Inventory on the Rise

As expected, slow sales this quarter have persisted through March in the City of Calgary. This is not a surprise, after stronger growth in sales at the end of last year following the announced changes to the lending market.

First quarter sales totaled 3,423 units, nearly 18 per cent below last year's levels and 24 per cent below long-term averages. Easing sales and modest gains in new listings caused inventories to rise and months of supply to remain above four months.

Read more

Calgary's neighbours see a rise in inventory

While sales of pre-owned homes in Calgary in February declined year over year, it's a different story in at least two of the city's closest neighbours. Here are the Calgary Real Estate Board's overviews of Airdrie, Cochrane and Okotoks.

Read more

Cannabis legalization could be a problem for homeowners

One of the key issues that CREA's federal affairs team has been working on recently is on Bill C-45 and the legalization of cannabis in Canada. What's the link between cannabis and REALTORS® you might ask? The legislation features provisions that allow individuals to engage in home cultivation of cannabis plants, which depending on the circumstance, size of the plant and scale of the residence, could have significant impacts in a home.

Read more

That 'new-home' smell may be harmful gases

You know that new-home smell, or the smell of a new car? A lot of us love it. But you may not like to hear that what we're really smelling are VOCs — and they can be harmful.

VOCs, or volatile organic compounds, are chemical byproducts found in many building supplies and products. Treated wood, insulation, carpeting, paints and cabinets all contain VOCs that will evaporate or off-gas into the air.

You can usually smell VOCs the strongest in varnishes and some paints. They're also in cigarette smoke, exhaust fumes, air fresheners, furnishings and plastics.

Read more

How often should you clean your house?

How often should you clean your house? Every day? Once a week? Less than that? For a lot of us, this Easter weekend be the first time we've given the place a thorough clean since Christmas. In fact, according to a 2016 survey by cleaning experts Jeyes, only 47 per cent of Brits admitted to cleaning regularly. Which is worrying, because it's potentially allowing harmful bacteria to run riot across your home, and make you and your family sick.

Read more

Feeling depressed? Just move the sofa

If you can't afford a big new house, rearrange your furniture. Your brain knows better but will deceive you anyway to make you feel like you've somehow moved to a better place. You'll feel renewed and hopeful. And all you did was switch the sofa with a couple of chairs and turn the coffee table sideways.

Read more

The Countertop Craze

Replacing countertops can absolutely transform a kitchen or bath, injecting personal style and taste into the home. Fortunately, a wide range of choices and prices are available. Options to consider in addition to the overall look and cost are durability and resistance to stain, sustainability, heat, cuts, abrasion, and impact.

Read more

ASK NANCY

Send me your questions about home décor, staging, mortgage or real estate and I will post the answer on my next newsletter

SELLING YOUR HOME? WHY YOUR REALTOR'S SUGGESTED LIST PRICE IS DIFFERENT THAN YOUR CITY PROPERTY ASSESSMENT

When listing their home for sale, sellers often question why their Realtor's suggested list price or market evaluation is different than their city property assessment (particularly when it's lower than the tax assessment). It's important to know that your city property assessment and the market evaluation done by your Realtor may be very different for several reasons:

Your current City Property Assessment Notice reflects the estimated market value of your property on July 1, 2017 and includes renovations until December 31, 2017.

City estimates are done using mass appraisal models, grouping similar homes together. They do not look at individual homes.

The city estimates your home's value using the information they have from city permits and registered plans only. They do not include upgrades, etc.

The city doesn't take into consideration any market influences or adjustments that occurred since July 1 of the previous year.

Homeowners don't challenge their city assessment when the evaluation is low because they don't want to pay more taxes.

The city property assessment is a value placed on your property for taxation purposes only. By contrast, the market evaluation provided by your Realtor is meant to help you price your home to sell and takes into consideration the current real estate market conditions, the state of your home and its upgrades, and what comparative homes in your area are selling for. This helps you make an informed decision on how much to list your home for – and it may be very different than your City Property Assessment.

Downloads

CIR Real Estate Review April 2018
Full April 2018 newsletter

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