May 15: Mid-month Real Estate Market Stats

Calgary’s resale real estate market remains on par with volumes produced last year at the same time.

With the government shortening the amortization time for mortgages again this year, it appears we again moved most of the first time home buyers in the first quarter.

Entry level buyers are essential in our market as it allows for a “chain reaction” of sales through the price ranges when a starter home or condo is sold.  When we lack in this area, it stifles the entire market.  Although the economy is improving we still aren’t seeing the net migration needed for our market to grow.

Listings also remain stable and are actually a little behind last year’s volumes, which is good news. Well-priced homes and condos continue to sell and activity in the luxury home market remains strong.

As always, call me if you any questions or even if you just want to talk shop!  I can be reached 403-238-3113 or at jondick@shaw.ca!

The poor weather we had been experiencing during April appears to be taking a toll on our sales count.  For the first 13 days in April, we have had a total of 898 sales through the Calgary Real Estate Board, as compared to the 959 that were recorded last year during the same period of time.

Hopefully sales will pick up during the back half of the years as the weather improves.

Sales for the first week of April show our market continuing to move in the right direction, both with overall volume and new listings.

Sales volumes for the first week in April were up 9% compared to this time last year. New listings were down 7% compared to this time last year.

As our sales volumes continue to increase, and our inventory levels slowly decrease, we get closer and closer to a balance market. Our total available inventory in the City of Calgary is now up only 4% from last year.

More of the same should continue throughout the month! I’ll keep you posted!

Not only do I know how to sell homes, having helped over 1,200 families move over the years, my wife Silvana and I know a little something about moving … we once moved our family twice in 3 years; this after raising our children in Canyon Meadows for 15 years. 

As a REALTOR® and a home owner, I understand the ups and downs that come with putting your home up for sale.  Last minute showing requests that come after a weekend visit from family; or last minute showing CANCELLATIONS when you’ve cut your child’s birthday party short just to accommodate an out-of-town buyer.  People who come to look at your home and spend only a few minutes looking at it after you’ve either run home from work during lunch or spent the last 2 hours getting it ready to show will drive you to drink ….

These are just a few of the challenges we are faced with when we decide it’s time to hammer that FOR SALE sign on our front lawns.  I can relate and it gives me a great personal perspective when helping my clients work through the process.  I’ve work with Presidents of companies, families relocating from overseas, new immigrants to the country, professional athletes, and people with as many as nine children! … all sorts of single people, couples and newlyweds – people from all walks of life -and I have enjoyed my experience with each and everyone one of them.

My clients and friends have certainly taught me lessons about compassion as I watched them navigate their way through the tragedy of losing a loved one or the heartbreak of a failed relationship.  Conversely as a REALTOR® I am able to participate in the joy of the birth of a son or a daughter (and sometimes both) as new parents begin their search for that larger house where all of a sudden proximity to schools and the size of the backyard are more important than the colour of the kitchen.

I love selling real estate and after 24 years still have a tremendous passion for it.  It’s been an honour watching my clients raise their families, ship their children off to school…  just to have them come back and have me be given the honour of helping THEM find their first condo or small starter home!  In fact, I believe before I retire I will get an opportunity to help one of my clients’ grandchildren find their dream home.  NOW THAT will be a thrill!

As we finish off the first quarter of 2011 with relatively flat numbers with respect to number of housing units sold, watch for gains to begin in the second quarter.  After 3 years, we finally have a recipe brewing for our market here in Calgary to begin to pick up some steam.

Last year we struggled in the second quarter as sales of single family homes lagged behind the previous year by 28%.  New listings last year were also up in the second quarter over the year before by a whopping 27%.  With our listing count trending down and as we compete against these soft numbers we should come out at the end of the second quarter with good results.

Positive net migration and job creation in the province combined with strong energy prices and stable interest rates are all factors as we watch our housing market begin to improve.

Click here to view CREB Calgary’s Regional Market Stats for March 2011.

Click here for archived residential monthly statistics. Archives provide one year worth of information.

Contact me at 403-238-3113 for more information!

Welcome to my new blog!  Centering on real estate news and views my goal is to provide you with some insight into our Calgary real estate market.  Much like our weather, Calgary’s real estate market can often be in a state of flux so I encourage you to check back often and even participate by supplying comments.  

For friends, family and clients who have been with me for over the 24 years I’ve been in real estate … well, I’m sure you’ll enjoy watching me wade into this new age of social media …. enjoy!