Buying Tips

Weekly Calgary Real Estate Update For October 9/ 2023

Weekly Calgary Real Estate Update For October 9/ 2023

4122 homes for sale in metro Calgary (down 88)

2445 homes sold in the last 30 days (down 14)

1.69 months worth of inventory (down 0.02)

59.32% of the homes statistically to sell in the next 30 days (up 0.91%)

Market Conditions: Seller’s Market

Average List Price: $558,975 (up $15,534)

Average Sale Price: $556,242 (up $12,909)

Average days on market: 27 (same)

Average list to sale price ratio : 100.21% (up 0.19%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

Weekly Calgary Real Estate Update For October 2/ 2023

Weekly Calgary Real Estate Update For October 2/ 2023

4210 homes for sale in metro Calgary (down 21)

2459 homes sold in the last 30 days (down 26)

1.71 months worth of inventory (up 0.01)

58.41% of the homes statistically to sell in the next 30 days (down 0.32%)

Market Conditions: Seller’s Market

Average List Price: $543,441 (up $6,234)

Average Sale Price: $543,333 (up $6,264)

Average days on market: 27 (same)

Average list to sale price ratio : 100.02% (up 0.05%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

Weekly Calgary Real Estate Update For September 25/ 2023

Weekly Calgary Real Estate Update For September 25/ 2023

4210 homes for sale in metro Calgary (down 21)

2459 homes sold in the last 30 days (down 26)

1.71 months worth of inventory (up 0.01)

58.41% of the homes statistically to sell in the next 30 days (down 0.32%)

Market Conditions: Seller’s Market

Average List Price: $543,441 (up $6,234)

Average Sale Price: $543,333 (up $6,264)

Average days on market: 27 (same)

Average list to sale price ratio : 100.02% (up 0.05%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

Weekly Calgary Real Estate Update For September 18/ 2023

Weekly Calgary Real Estate Update For September 18/ 2023

4231 homes for sale in metro Calgary (up 122)

2485 homes sold in the last 30 days (down 52)

1.70 months worth of inventory (up 0.08)

58.73% of the homes statistically to sell in the next 30 days (down 3.01%)

Market Conditions: Seller’s Market

Average List Price: $537,207 (up $11,758)

Average Sale Price: $537,069 (up $11,997)

Average days on market: 27 (same)

Average list to sale price ratio : 99.97% (up 0.04%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

Weekly Calgary Real Estate Update For September 11/ 2023

Weekly Calgary Real Estate Update For September 11/ 2023

4109 homes for sale in metro Calgary (up 147)

2537 homes sold in the last 30 days (down 29)

1.62 months worth of inventory (up 0.07)

61.74% of the homes statistically to sell in the next 30 days (down 3.03%)

Market Conditions: Seller’s Market

Average List Price: $525,449 (down $432)

Average Sale Price: $525,072 (down $47)

Average days on market: 27 (same)

Average list to sale price ratio : 99.93% (up 0.31%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

The Bank of Canada leaves rates unchanged By Barb Eglauer – One of Our Preferred Service Providers

The Bank of Canada leaves rates unchanged

The Bank of Canada has delivered a rate hold this morning, leaving its key lending rate unchanged at 5.00%. This is a welcome update for those with mortgages, loans and lines of credit that have variable rates tied to prime. 

This follows 10 previous rate increases, which raised the overnight target rate by 475 bps since March 2022. 

In its statement, the Bank said it decided to pause rates due to “recent evidence that excess demand in the economy is easing and given the lagged effects of monetary policy.”

However, it added that it “remains concerned about the persistence of underlying inflationary pressures and is prepared to increase the policy interest rate further if needed.”

What happens now?

Today’s decision means there will be no change to the prime rate and no changes to existing variable-rate mortgages. This announcement also has no impact on fixed-rate mortgage holders.

The Bank’s next announcement will take place October 25. 

If you have any questions or concerns about the rise in borrowing costs over the past year, I encourage you to reach out so we can discuss your personal situation and options. 

You can read the Bank of Canada’s full statement here.

Weekly Calgary Real Estate Update For September 4/ 2023

Weekly Calgary Real Estate Update For September 4/ 2023

3962 homes for sale in metro Calgary (down 184)

2566 homes sold in the last 30 days (down 40)

1.55 months worth of inventory (down 0.04)

64.77% of the homes statistically to sell in the next 30 days (up 1.91%)

Market Conditions: Seller’s Market

Average List Price: $525,881 (down $1,886)

Average Sale Price: $525,119 (down $2,180)

Average days on market: 27 (same)

Average list to sale price ratio : 99.68% (down 0.61%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

Weekly Calgary Real Estate Update For August 28/ 2023

Weekly Calgary Real Estate Update For August 28/ 2023

4146 homes for sale in metro Calgary (down 126)

2606 homes sold in the last 30 days (up 25)

1.59 months worth of inventory (down 0.07)

62.86% of the homes statistically to sell in the next 30 days (up 2.44%)

Market Conditions: Seller’s Market

Average List Price: $527,767 (up $518)

Average Sale Price: $527,299 (up $528)

Average days on market: 27 (up 2)

Average list to sale price ratio : 100.29% (down 0.10%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

Weekly Calgary Real Estate Update For August 21/ 2023

Weekly Calgary Real Estate Update For August 21/ 2023

4272 homes for sale in metro Calgary (down 56)

2581 homes sold in the last 30 days (down 13)

1.66 months worth of inventory (down 0.01)

60.42% of the homes statistically to sell in the next 30 days (up 0.48%)

Market Conditions: Seller’s Market

Average List Price: $527,249 (down $6,212)

Average Sale Price: $526,771 (down $6,514)

Average days on market: 25 (down 1)

Average list to sale price ratio : 100.39% (down 0.04%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

Weekly Calgary Real Estate Update For August 14/ 2023

Weekly Calgary Real Estate Update For August 14/ 2023

4328 homes for sale in metro Calgary (up 96)

2594 homes sold in the last 30 days (down 124)

1.67 months worth of inventory (up 0.11)

59.94% of the homes statistically to sell in the next 30 days (down 4.28%)

Market Conditions: Seller’s Market

Average List Price: $533, 461 (down $1,822)

Average Sale Price: $533,285 (down $3,709)

Average days on market: 26 (up 1)

Average list to sale price ratio : 100.43% (down 0.41%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase