Media release: Despite improved sales activity for affordable product oversupply continues
City of Calgary, April 1, 2019
Compared to last year March saw a modest decline in city wide sales activity. Yet, for the more affordable product in the detached and attached section, sales have increased.
Sales dropped to 3,108 units in the first-quarter. This being 28 per cent below usual levels of activity and nine percent below last year. Changes in the markets lower end has not outweighed easing over the higher cost product.
Declines in pricing and comparatively slow sales activity have impacted the number of new listings. Compared to last year's levels and long-term trends, new listings have eased for the second consecutive month, although it was not enough to prevent a gain in inventory.
“If new listings continue...
Fur-Ever Homes Rescue: Every Animal Deserves a Second Chance
Fur-ever Homes Rescue is a not for profit local dog rescue that saves lives everyday. Whether they are rescuing dogs locally, provincially, or internationally (California, Mexico, and even Korea), this local rescue has a very important mission, to rescue, rehabilitate and re-home displaced animals. Most of the dogs they rescue have little to no chance of survival and Fur-ever Homes Rescue saves these deserving animals with no hesitation.
Their adoption process is structured to carefully select loving homes for each animal to ensure they will receive a lifetime of care and love. The rescue host adoptions events every weekend and...
St. Patrick's Day Celebrations: Calgary West Side
Saint Patrick's Day, or Feast of Saint Patrick "the Day of the Festival of Patrick", a religious and cultural celebration held on 17 March. Tradition says that Saint Patrick died on this date and was buried. Over centuries, numerous legends arose around Patrick and he became the patron saint of Ireland.
Saint Patrick's Day was made an official Christian feast day in the early 17th century and is observed by many Churches. This day commemorates Saint Patrick and the arrival of Christianity in Ireland. It celebrates the culture and heritage of the irish in...
Media release: Oversupply of housing market as we feel the chill
City of Calgary, March 1, 2019 – Weak sales activity continue, and inventory remains elevated in the city’s housing market due to effects of Calgary's economic climate.
Prices are being affected, as a result.
CREB® chief economist Ann-Marie Lurie states “It is not a surprise that slowing activity in the housing market has persisted into February.”
“There has been no substantial change in the economic climate and concerns regarding potential layoffs in the energy sector are weighing on confidence.”
Benchmark prices citywide were $414,400 as of February. Almost five per cent below January’s last year, 10 percent less than recorded 2014 highs and slightly lower than figures for last month.
Price declines and slower sales appear to influence sellers even...
What is Club Pilates?
At Royal Oak Club Pilates they offer Reformer-based Pilates classes, using a modern approach to classical methods, at a price that makes membership attainable. Thousands of people are transforming their bodies and lives right now through energizing, fun, low-impact...
Fun Winter Activities To Do in Calgary
It's that time of year to get outside and enjoy winter and all the fun activities it has to offer us here in Calgary. Whether you decide to go ice skating, tubing, skiing, snowshoeing or grab a hot chocolate and see the downtown winter light festival. You will want to get outdoors and enjoy winter in all its glory. Here is a list of amazing and fun activities to do in Calgary this winter season.
Bowness Park, 8900 48th Avenue NW
Bowness Park is located along the Bow River between Stoney Tr. and 85 St. NW. A shallow lagoon runs along the park's southern edge, which has always been the centre piece of the park. The City crews meticulously make a wonderful skating rink from it once the temperature is cold enough. But you also could just come with a picnic lunch and sit next to the gas-fired fire pits and enjoy the ambience. The washrooms...
New Year Begins With Slow Start
City of Calgary, Tost Realty Group, February 1, 2019
As challenges related to the economy continue into the 2019 year, the market as a whole is still on the slow side. January sales totalled 804 units, sitting at 16 per cent below last year, and 21 percent below long-term monthly averages.
Chief economist Ann-Marie Lurie stated last week that: “The slow start to the year does not come as a surprise, as concerns about job losses and the state of the energy sector weigh on consumers. We anticipate that the slow market conditions will persist throughout much of the first quarter."
The number of new listings entering the market is still comparable to last year's data, but those levels have increased beyond normal sales activity. Higher inventory levels are the main culprit for this occurrence. Elevated inventories in relation to sales were the cause of the seven-month...
Soft Job Market and Restrictions on Lending Influenced 2018's Real Estate Market
City of Calgary, Tost Realty Group, January 2, 2019
As oversupply is still a pertinent issue, prices during December slowed by one per cent, and are currently situated at over three percent below this time last year.
CREB chief economist Ann-Marie Lurie stated last month that “Persistent weakness in the job market and changes in the lending market impacted sales activity in the resale market this year”. This definitely contributed to a heightened supply in the resale market, resulting in a decline in price.
Sales in December sat at a total of 794 units, a 21 per cent decline over the previous year. Overall year-to-date sales in the city sat at a total of 16, 144 units, a 14 per cent dip from two years ago, and 20 percent below previously standing long-term averages.
The Inventory levels statistic for December sat at 4,904 units....
Economic Conditions Continue to Challenge Vitality of Resale Market
City of Calgary, Dec. 3, 2018
Sales during the month of November sat at a total of 1,171 units, remaining below long-standing averages.
For the year up to this point, monitored sales activity has rang in at 15,349 units, displaying a 14 per cent decline over last year, and nearly 20 per cent below standing averages.
During November, New listings eased by seven per cent compared to last year. Due to this substantial shift in new listings, further inventory gains have been prevented. Overall inventory is currently at 6,501 units, remaining slightly above the 5,683 units in inventory seen last year, and 32 percent higher than in a typical November.
Throughout the month of November, the citywide benchmark price was $422,600, hovering near one percent lower than last month, and at 3 percent lower than levels seen during 2017. Across every...