City of Calgary, February 1, 2019 – As economic challenges linger into 2019, housing markets remain on a sluggish pace.
January sales totalled 804 units, 16 per cent below last year and 21 per cent below long-term averages for the month. “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,” said CREB® chief economist Ann-Marie Lurie.
The number of new listings entering the market remained comparable to last year, but those levels far surpassed sales activity. This is resulted in further gains in inventory levels. Elevated inventories relative to sales caused months of supply to rise to nearly seven months.
Persistent buyers’ market conditions have continued to impact prices. Citywide residential benchmark prices eased to $414,800 in January. This is nearly one per cent lower than December figures and four per cent below January 2018 levels.
* Stats obtained from CREB
For the full yearly forecast, click here.
TIMING IS EVERYTHING. BUYERS? INVESTORS? THINKING ABOUT BUYING A HOME IN 2019?
The market is presenting some very appealing opportunities for those buyers looking to move up or move into a price range that maybe wasn’t realistic in years past. When opportunity knocks it’s important to be informed and try to be ahead of the curve.
What does this mean for you as a future buyer or seller in Calgary? Drop me a line, I’d love to help.
*Stats obtained from CREB.com
Charles isn’t a person. Charles is simply a commitment to service. Our name is a reflection of our brand philosophy. We didn’t want to name our company after ourselves because that feels like it’s all about us. What our company is about… is you. Your goals and your real estate needs. At Charles, we take the time to understand people and work to meet their needs – in ways they like them to be met. We understand that service is all about feeling welcomed, cherished and cared for.This is the essence of Charles. To fit seamlessly into your lives, like your own personal butler.
Amazing Value! Total LUXURY in Lake Bonavista Estates!Dare to compare!Nothing left to upgrade INSIDE or OUT!Rare ‘turn key’ opportunity to own in one of Calgarys premiere communities.Completely renovated a few years ago right back to the studs.Including new electrical, mechanical, HVAC, lights, window coverings & all fixtures.Over 3,000 sq ft of living space with nothing overlooked.Spacious main floor including a gorgeous gourmet kitchen with top of the line S/S appliances, huge island & granite counters.Don’t miss the large hidden walk-in PANTRY!Large dining area, great for special occasions.Tons of built in’s everywhere.3 Beds up with a large Master including a gorgeous ensuite with heated floors, free standing tub, large marble finished shower & big walk in closet.Downstairs you will find a large bedroom, a full bath & a large rec room.Step outside & appreciate the exterior renovation including Hardie Board siding, rock work, landscaping & a patio thats perfect for entertaining.
Today’s featured local business is Calcutta Cricket Club, located on trendy 17th Avenue dishing out fabulous Indian cuisine.
Calcutta Cricket Club is a fun & lively Indian restaurant and bar that draws inspiration from the cosmopolitan nature and cuisine of West Bengal. Past their doors you’ll find a quirky & colourful decor cheekily described by their designer as a 1960’s Indian social club meets The Golden Girls.
Head on over there for a lively evening! Website here.
50 Rosewood Drive SW
I had the pleasure of assisting some very special people on the purchase of their brand new homes this month. Congratulations to you all, you know who you are!
I love helping people in their home buying endeavours. Contact me today to get started. I can’t wait!
Looking forward to keeping in touch throughout 2019