My oldest daughter is graduating high school this year! My husband and I are sure proud parents! Looking forward to her 2018/2019 adventures. - Tania
Grade 9 end celebration - on to high school! Paul and I did a 12 hike at Powderface this day, and raced back to town so I wouldn't miss the festivities. - Tina
June Give Away - Free Central Air Conditioning!
by Jamison Furnace LTD
Every month in 2018 as part our Best My Nest Home ownership Program, CIR REALTY will be giving away 12 months of prizes from 12 of our Best My Nest Partners, all focused on making your home a better and more beautiful place to live in.
There will be a new draw every month so be sure to enter monthly!
Enter the contest by visiting www.taniaking.com and clicking on the Free Centra AC photo. The winner of each month’s prize will be contacted the first week of the next month. You must be an Alberta resident and live within the service area of the company providing the prize (Calgary and surrounding areas). Congrats to Justin Magnaye, May's winner!
Gorgeous 4 bedroom 3.5 bathroom executive home backing on to Inverness Pond in McKenzie Towne. 925,000
This updated 4 bedroom bungalow in Vista Heights with double detached garage and RV parking is now available! 429,900
NEW LISTING - Located in Country Hills, this 3B 2B townhouse has a developed basement and 2 titled parking stalls. 290,0000
NEW LISTING - Located in Evanston, this top floor 2B unit has vaulted ceilings and a single car attached garage. 255,000
NEW LISTING - Located in MacEwan, fantastic entry price for a 3 bedroom 2 bathroom detached home. 335,000
Calgary Market - from CIR Realty, June 11 2018
It is no secret that the Real Estate Market in Calgary and the surrounding area has been a challenging one through much of 2018.
The first indicator we want to look at when evaluating the market is the ABSORPTION RATE as this helps to determine how healthy the market is. Simply put, this is how long the market could sustain itself if no new inventory was to come on. It is important to remember that each community within Calgary is a micro market within the larger macro market, and each varies from area to area. As a whole, the Calgary Real Estate Market was at a 4.9 month rate at the end of May, and has increased to a 5.15 month absorption rate as of June 8, 2018. We consider a balanced market to be between two to four months of inventory so this tells us that we are officially in a buyers’ market.
Next, we want to determine what factors may be causing the rising absorption rate across the board. The obvious indicators to look at are the inventory levels and volume of sales. With the rising inventory levels, our numbers within Calgary were at 8,450 listings at the end of May. That is 36% higher inventory than was on the market at this time last year. The markets are also seeing a lower volume of sales of only 1,726 sales for the month of May–18.4% below last year’s sales numbers and long term averages. It is fair to assume that with larger inventory levels there are more choices for buyers which inevitably leads to less showings per listing.
However, the true leading indicator is the total volume of showings across the board. While we do not have access to all board members showing data, we do carry the largest inventory compared to any other brokerage, so CIR listing numbers are as accurate an indicator of showing volume that we can compile. When examining our showings across our listings, we started looking at showings in May which were down ~17% from May 2017. Looking at June the showings have slowed down further being ~24% slower than June of last year. Averaging year-to-date showings there is a ~19% slow down year over year.
While slower showings seem like a negative thing, it is the most encouraging of all the indicators. This number correlates with the slow down in sales, leading us to believe that the buyers who are shopping are motivated to buy. This differs from past buyers markets where we saw buyers shopping without making a purchase. It also leads us to believe that consumer confidence is not quite there for our Real Estate Market and people remain on the fence waiting to see what the economy will do.
Dedicated to putting our experience and local knowledge to work for you - let our perseverance and commitment help you with your real estate dreams! - Tania & Tina