Proper pricing is a crucial part of selling your home

If you want to sell your home, it is critical to have it priced correctly. If it's priced too high, it will be passed over in the sea of listings at this busy time of year. If it's priced too low, you risk the chance of leaving thousands of dollars on the table.

As expected, Calgary sales activity similar to last year

The new year opened predictably, with monthly figures close to the Januarys of the past three years.

With new mortgage rules and rates officially in effect, sales activity in January remained comparable to last year, as rising sales for attached properties were not enough to offset declines in both the apartment and detached sector.

December sales activity rises again, but so does supply

Sales activity for all product types improved in December and pushed monthly sales to long-term averages for the second month in a row.

However, new listings also rose, keeping inventory elevated compared to typical levels for December. With more supply remaining compared to sales, benchmark prices edged down for the fifth consecutive month.

Inventory increases and sales drop in September, but overall sales for the year remain higher than last year

Strong gains in the first half of 2017 have put Calgary year-to-date sales at seven per cent above last years' levels and 11 per cent below long-term averages, but challenges remain with easing sales and rising new listings.

Inventories rose across all property types to 6,861 units, while both apartment- and attached-style properties saw the highest inventory on record for the month of September.

Major renovations and minor modifications to make any home more accessible and livable for seniors

As Canada's population continues to skew older, more and more seniors want to remain in their homes rather than move into a retirement residence or long-term care facility. This preference for "aging in place" has increased the popularity of several home renovations and modifications that make the home more accessible, and easier to navigate, for older individuals. Here are some of the top aging-in-place renovations.

January market improves over last year

At 4,112 total units, January's inventory was 18 per cent below last year's levels, according to CREB®, which released its monthly housing summary today.

"While housing conditions continue to favour buyers, a slow transition toward more balanced conditions is helping to ease downward pressure on home prices," said CREB® chief economist Ann-Marie Lurie. "Conditions have improved over last year, but people need to remember that last year's market was one of the weakest on record. Despite the appearance of a major shift in activity, the transition in the housing market is going to be a slow process."

Resiliency in the detached and semi-detached markets temper price fluctuations

Calgary home prices continue to slide in most areas of the market, but not at the rate that many might expect, reported CREB® in its June housing summary. (Click here for the full report.)

CREB® partly attributed June's stats to resiliency in the detached and semi-detached sectors of the market, where sales compared to new listings and standing inventory started returning to more balanced levels.

"The detached market has been gradually moving towards more balanced conditions, helping to prevent price levels from declining at the faster rates we saw in the previous two quarters," said CREB® chief economist Ann-Marie Lurie. "While this is welcomed news for sellers, it's very likely that pricing challenges will persist in the housing market until economic conditions start to improve."

April housing sales tell different stories for districts 

While the sun might be shining in Calgary this spring, this city's resale residential housing market was overshadowed by another month of declining sales and prices in April, according to CREB®.

However, despite inclement conditions, some areas of the city and segments of the market emerged as bright spots, with several posting double-digit sales increases, the board reported in its recent monthly housing summary.
Calgary's West district recorded 128 detached sales in April, a nearly 31 per cent increase when compared to last year. It was followed by the North West, which posted a 20 per cent increase in detached sales with 187 units, the North at more than 11 per cent to 166 detached sales and City Centre at nearly four per cent to 111 detached units.

"Our market is incredibly diverse, and these numbers verify that. Different areas and price points have and will continue to react divergently to economic conditions," said CREB® president Cliff Stevenson.

Analysts say indicators point to prolonged downturn

The health of Calgary's residential housing market is only as good as the foundation it's built upon, say analysts, who reference several key indicators that point to a prolonged downturn in the city.

Richard Cho, principal market analysis in Calgary for Canada Mortgage and Housing Corp. (CMHC), noted everything from employment levels to household income and migration to spending levels signal to tough times ahead for the local housing market.

Monthly prices decline for fifth consecutive month: CREB

February sales totaled 1,127 units in Calgary, a 6.63 per cent drop over last year and 37 per cent lower than long-term averages for the month, according to CREB®.

In its monthly housing summary, CREB® reported citywide unadjusted benchmark prices totaled $445,000 last month, a 0.63 per cent decline over January and 3.45 per cent lower than levels recorded last year.

"Slow sales and elevated housing inventory has resulted in further price declines," said CREB® chief economist Ann-Marie Lurie. "Given the current economic environment, it is no surprise that consumer confidence and housing demand is being impacted."