When it comes to real estate, especially in a dynamic market like Calgary, Alberta, there's an old adage that holds true: "Time in the market is more important than timing the market." Over the past several years, Calgary's real estate market has seen its share of fluctuations, but one trend remains constant—the long-term growth of property values. This article dives into how this principle benefits home buyers, sellers, and real estate investors.

For Home Buyers: Stability and Growth Over Time

Home buyers in Calgary should consider the value of holding onto their properties over the long term rather than trying to time their purchase perfectly. Historical data since 2019 reveals a consistent upward trajectory in the average prices of homes sold in Calgary. For instance, the average price in January 2019 was around $450,752. By August 2024, this had increased to approximately $609,873. This steady growth illustrates that, despite economic uncertainties or short-term market dips, real estate in Calgary tends to appreciate over time.

Key Takeaway for Buyers: Buying a home is not just about finding the perfect deal at the right moment; it's about securing a property that will grow in value. The market's natural appreciation means that the longer you own a home, the more likely you are to see a substantial return on your investment.

For Home Sellers: Leverage Market Timing for Maximum Gains

Home sellers benefit significantly from holding their properties for a longer period. As seen in Calgary's market trends, home values have increased year over year, making the potential gains from selling much higher after several years of ownership. Sellers who bought in 2019 and held onto their property until 2024 likely saw a substantial return on investment.

However, it's essential for sellers to recognize that waiting for the "perfect" market conditions to sell may not always be feasible. Instead, understanding that the market generally trends upwards can encourage sellers to list their homes when they are personally ready, knowing that long-term growth will have increased their property's value.

Key Takeaway for Sellers: While timing can enhance sales profit, the overall market growth means you don't have to wait for the perfect peak to sell. Your property will likely have appreciated enough over several years to make any timing a good time to sell.

For Real Estate Investors: The Long Game Pays Off

For investors, real estate offers a tangible and historically reliable avenue for wealth accumulation. Calgary's real estate market is no exception. Since 2019, the average prices have shown resilience and growth, even in the face of global economic shifts. Investors who prioritize long-term ownership over trying to predict market highs and lows often find themselves with significant equity gains.

Real estate investment is about patience. The steady increase in Calgary home prices—from $450,752 in January 2019 to $609,873 in August 2024 demonstrates that real estate is a long-term wealth-building strategy. By focusing on holding properties rather than flipping them quickly, investors can maximize their returns through both appreciation and rental income.

Key Takeaway for Investors: Successful real estate investment in Calgary is less about buying low and selling high at precise moments and more about holding properties to benefit from consistent market growth. The longer your property stays in the market, the higher the return potential.

The Power of Patience in Real Estate

Whether you are a home buyer, seller, or investor, the message is clear: Calgary's real estate market rewards patience. Over time, property values have consistently appreciated, making long-term ownership a more strategic choice than attempting to time market highs and lows. Remember, it's not about the exact moment you buy or sell but how long you hold onto your property that counts. In Calgary's real estate market, patience truly is a virtue.

In Calgary, the real estate market has experienced significant shifts over the past six years. Whether you’re a home buyer, seller, or investor, understanding these trends is crucial for making informed decisions. The data below highlights the average price of homes sold in Calgary from 2019 to 2024.

1. Steady Price Increase in 2024

The most notable trend is the consistent rise in home prices throughout 2024. Starting at $570,720 in January, the prices have steadily climbed, reaching $624,607 by June. This increase reflects a robust market, indicating strong demand and possibly limited supply. For buyers, this suggests acting sooner rather than later to avoid higher prices. Sellers can leverage this trend to maximize their returns, while investors might see this as an opportunity for profitable investments.

2. Impact of the Pandemic in 2020

The year 2020 saw a dip in home prices, especially noticeable in May when prices dropped to $439,257. This decline was primarily due to the economic uncertainties brought about by the COVID-19 pandemic. However, by the end of the year, the market began to recover, reflecting the resilience of Calgary’s real estate market. Buyers and sellers need to consider how such global events can temporarily affect the market and plan accordingly.

3. Post-Pandemic Recovery and Growth

From 2021 onwards, there has been a significant recovery and growth in home prices. For instance, the average price in April 2021 was $508,346, which increased to $532,733 in 2022. This recovery phase highlights the potential for growth in property value post-crisis. For investors, this is a positive indicator of market stability and future gains.

1. Seasonal Variations in Prices

The data shows seasonal variations, with prices typically higher in spring and summer months. For example, in June 2022, the average price was $518,049, compared to $490,700 in November. Buyers might find better deals during the winter months, while sellers could benefit from listing their properties in the peak seasons of spring and summer.

2. Yearly Comparisons and Trends

Comparing year-on-year data provides insights into market trends. For instance, prices in 2024 have surpassed those in previous years by a significant margin. Such comparisons help in understanding the long-term appreciation of property values in Calgary, aiding both buyers and investors in making long-term financial plans.

3. Market Stability in 2022 and 2023

Despite fluctuations, the market showed stability in 2022 and 2023, with prices hovering around $500,000 to $550,000. This stability is a good sign for buyers and investors looking for predictability in their investments. Sellers can also take advantage of stable market conditions to plan their sales strategy.

The Calgary real estate market has demonstrated resilience and growth, especially in 2024. Understanding these trends helps buyers, sellers, and investors make informed decisions. Whether you’re looking to buy, sell, or invest, staying informed about market dynamics is key to success in Calgary’s real estate landscape.

The housing market has taken an unexpected turn, and savvy buyers and sellers are sitting up and taking notice. Recent data reveals a dramatic shift that could reshape your real estate strategy.

Active listings have skyrocketed since the start of 2024, nearly doubling from January to June. This flood of new properties on the market marks a stark contrast to the inventory shortages we've seen in recent years. But what's driving this sudden surge?

Experts point to several factors:

1. Rising interest rates cooling buyer demand
2. Homeowners finally feeling confident enough to sell
3. New construction picking up pace

But here's where it gets interesting: despite the influx of listings, sales haven't kept pace. The gap between active listings and completed sales has widened significantly, especially in the last few months.

What does this mean for you?

For buyers:
You might finally have more options and potentially more bargaining power. The days of frenzied bidding wars could be waning.

For sellers:
While there's more competition, the right pricing strategy can still attract serious buyers in this evolving market.

The takeaway?
Whether you're looking to buy or sell, understanding these trends is crucial. The real estate landscape is shifting, and staying informed is your best tool for navigating this new terrain.

Keep an eye on these trends as we move into the latter half of 2024. The real estate rollercoaster shows no signs of slowing down, and the next turn could be just around the corner.

Calgary's real estate market has been a rollercoaster ride over the past year, but the latest foreclosure data reveals a startling trend that could spell disaster for homeowners and opportunity for savvy investors. Let's dive into the numbers and uncover what's really happening behind the scenes.

The graph we're examining today tracks Calgary foreclosures from July 2023 to June 2024, showing both active listings and sales. At first glance, it might seem like a jumble of blue and orange bars, but there's a story hidden in this data that demands our attention.

Let's start with the good news: foreclosure sales have generally been on a downward trend since the beginning of 2024. In February, we saw a spike with 27 sales, but that number quickly dropped to 13 in March and has remained relatively low since then. June 2024 shows only 6 foreclosure sales, the lowest point in the entire year.

But here's where things get interesting – and potentially alarming.

While sales have been decreasing, active listings have been on a wild ride. They peaked in November 2023 with a whopping 39 listings, then took a nosedive to just 25 in February 2024. Since then, we've seen a steady climb back up, with June 2024 showing 19 active foreclosure listings.

Now, you might be thinking, "19 listings isn't that bad, right?" Wrong. Here's why this number is setting off alarm bells in the real estate community:

1. The Widening Gap: Notice how the blue bars (active listings) are getting taller while the orange bars (sales) are shrinking? This indicates a growing inventory of foreclosed properties that aren't being absorbed by the market.

2. Seasonal Patterns Disrupted: Typically, we'd expect to see more activity in the spring and summer months. But this graph shows an atypical pattern, suggesting underlying economic factors at play.

3. The Calm Before the Storm: The relatively low number of current listings could be misleading. Banks often hold onto foreclosed properties, releasing them gradually to avoid flooding the market. The steady increase we're seeing could be the beginning of a much larger wave.

4. Economic Indicators: While not shown in this graph, it's crucial to consider broader economic factors. Rising interest rates, inflation, and potential job losses in key sectors could all contribute to a surge in foreclosures in the coming months.

5. The Ripple Effect: As more foreclosures hit the market, overall home values in Calgary could be negatively impacted, potentially pushing more homeowners underwater on their mortgages and creating a vicious cycle.

So, what does this mean for you?

For Current Homeowners:

- If you're struggling with your mortgage, act now. Reach out to your lender about potential modification options.

- Consider selling before a potential market downturn if you're in a precarious financial position.

- Stay informed about local economic trends that could impact your home's value.

For Potential Buyers:

- Keep a close eye on foreclosure listings. There may be opportunities to snag properties at below-market rates.

- Be cautious, though. A flood of foreclosures could drive down overall home values, so think long-term.

- Consider working with a real estate agent who specializes in foreclosures to navigate this tricky market.

For Investors:

- The growing inventory of foreclosures could present lucrative opportunities, especially if you have the capital to renovate and flip properties.

- Research neighborhoods carefully. Some areas may be hit harder than others by this trend.

- Be prepared for potential competition from large investment firms if the foreclosure market heats up significantly.

While it's impossible to predict the future with certainty, the data paints a concerning picture for Calgary's housing market. The key takeaway? Whether you're a homeowner, buyer, or investor, now is the time to stay vigilant and prepared.

Keep a close eye on foreclosure trends in the coming months. If the gap between active listings and sales continues to widen, it could signal the beginning of a major shift in Calgary's real estate landscape. Those who are prepared and informed will be best positioned to weather the storm – or even capitalize on the opportunities it may bring.

Remember, in real estate, as in life, knowledge is power. Stay informed, stay proactive, and you'll be ready for whatever the market throws your way.

The CREB Daily Housing Summary provides up-to-date statistics on Calgary's real estate market, including the number of new listings, sales, and the average price of homes. It highlights key market trends and offers insights into the performance of different property types, such as detached homes, apartments, and townhouses. The report also compares current data with previous periods to show market changes over time.

For detailed statistics, visit CREB Daily Housing Summary https://www.creb.com/Housing_Statistics/Daily_Housing_Summary

Understanding Calgary's Real Estate Market with CREB's Daily Housing Summary

In today's fast-paced real estate market, staying informed is crucial for buyers, sellers, and investors. The Calgary Real Estate Board (CREB) provides an invaluable resource through its Daily Housing Summary, offering a snapshot of current market conditions.

Key Insights for Buyers

For buyers, the summary includes the latest data on new listings, sales figures, and average home prices. This information helps buyers understand the market dynamics and make informed decisions about when and where to buy. Knowing the number of new listings can help identify potential opportunities, while sales figures and price trends provide a sense of the market's competitiveness and overall health.

Valuable Data for Sellers

Sellers can leverage this data to set realistic prices for their properties. Understanding the average prices and sales volume in their neighborhood allows sellers to price their homes competitively, increasing the likelihood of a quick sale. Additionally, tracking market trends can help sellers decide the best time to list their property to maximize their return.

Strategic Insights for Investors

For investors, the CREB Daily Housing Summary is a goldmine of information. By analyzing trends in different property types—such as detached homes, apartments, and townhouses—investors can identify which segments are performing well and adjust their strategies accordingly. This data-driven approach helps investors make informed decisions about where to allocate their resources for the best returns.

Conclusion

Overall, the CREB Daily Housing Summary is an essential tool for anyone involved in Calgary's real estate market. By providing up-to-date and detailed market statistics, it empowers buyers, sellers, and investors to make informed and strategic decisions. For the latest market insights, visit [CREB Daily Housing Summary](https://www.creb.com/Housing_Statistics/Daily_Housing_Summary/).

Staying informed and adapting to market trends can make a significant difference in achieving success in real estate. Utilize the resources available through CREB to stay ahead in Calgary's dynamic housing market.

The latest CREB stats for May 2024 indicate notable trends across the entire Calgary residential market. Here are the key highlights:

1. Sales Growth:

• Sales slightly decreased to 3,092 units in May 2024 from 3,117 units in May 2023.

• Year-to-date (YTD) sales have increased, with 12,412 sales in 2024 compared to 11,162 in 2023.

2. New Listings and Inventory:

• New listings have grown significantly, with 4,333 new listings in May 2024 compared to 3,650 in May 2023.

• The total inventory has increased to 3,402 units in May 2024 from 3,214 in May 2023.

3. Days on Market:

• The average days on market have decreased, indicating a faster-paced market. In May 2024, it stands at 19 days, down from 24 days in May 2023.

4. Pricing Trends:

• The benchmark price for residential homes has risen to $605,300 in May 2024, compared to $552,700 in May 2023.

• The median price increased from $507,000 in May 2023 to $562,500 in May 2024.

• The average price saw a significant increase, reaching $612,772 in May 2024 from $552,412 in May 2023.

5. Price Range Sales:

• There has been notable growth in sales across higher price ranges. For example, sales in the $700,000 - $749,999 range increased from 163 units in May 2023 to 186 units in May 2024.

• Higher price brackets, such as $1,000,000 - $1,299,999, also saw substantial growth, with sales rising from 84 units in May 2023 to 132 units in May 2024.

6. Market Trends:

• The average price, median price, and benchmark price have all seen a year-over-year increase, indicating overall price appreciation in the market.

• The months of inventory have trended downward, suggesting a tightening market with increased demand relative to supply.

In summary, the Calgary residential market is experiencing robust growth with increased new listings, higher prices, and a quicker turnover rate, reflecting strong demand and a healthy market environment.

We offer free home evaluations for home sellers and ready to help home buyers anytime. 

The latest CREB stats for May 2024 indicate important trends in the Calgary townhome market. Here are the key highlights:

1. Sales Growth:

• Sales have increased to 540 units in May 2024, up from 496 units in May 2023.

• Year-to-date (YTD) sales have risen, from 1,822 in 2023 to 2,119 in 2024.

2. New Listings and Inventory:

• New listings have grown significantly, with 688 new listings in May 2024 compared to 562 in May 2023.

• The total inventory has increased to 424 units in May 2024 from 406 in May 2023.

3. Days on Market:

• The average days on market have decreased, indicating a faster-paced market. In May 2024, it stands at 18 days, down from 20 days in May 2023.

4. Pricing Trends:

• The benchmark price for townhomes has risen to $462,500 in May 2024, compared to $387,800 in May 2023.

• The median price increased from $386,750 in May 2023 to $457,500 in May 2024.

• The average price saw an increase, reaching $473,913 in May 2024 from $406,597 in May 2023.

5. Price Range Sales:

• There has been notable growth in sales across higher price ranges. For example, sales in the $450,000 - $499,999 range increased from 55 units in May 2023 to 122 units in May 2024.

• Higher price brackets, such as $500,000 - $549,999, also saw substantial growth, with sales rising from 43 units in May 2023 to 76 units in May 2024.

6. Market Trends:

• The average price, median price, and benchmark price have all seen a year-over-year increase, indicating overall price appreciation in the market.

• The months of inventory have trended downward, suggesting a tightening market with increased demand relative to supply.

In summary, the Calgary townhome market is experiencing robust growth with increased new listings, higher prices, and a quicker turnover rate, reflecting strong demand and a healthy market environment.

We offer free home evaluations for home sellers and ready to help home buyers anytime. 

The latest CREB stats for May 2024 indicate notable trends in the Calgary detached home market. Here are the key highlights:

1. Sales Growth:

• Sales slightly decreased to 1,385 units in May 2024 from 1,485 units in May 2023.

• Year-to-date (YTD) sales have increased, with 5,538 sales in 2024 compared to 5,283 in 2023.

2. New Listings and Inventory:

• New listings have risen significantly, with 2,036 new listings in May 2024 compared to 1,795 in May 2023.

• The total inventory has increased to 1,596 units in May 2024 from 1,484 in May 2023.

3. Days on Market:

• The average days on market has decreased, indicating a faster-paced market. In May 2024, it stands at 18 days, down from 22 days in May 2023.

4. Pricing Trends:

• The benchmark price for detached homes has risen to $761,800 in May 2024, compared to $674,000 in May 2023.

• The median price increased from $657,464 in May 2023 to $730,000 in May 2024.

• The average price saw a significant increase, reaching $822,873 in May 2024 from $733,230 in May 2023.

5. Price Range Sales:

• Sales have increased in higher price ranges. For example, sales in the $700,000 - $749,999 range increased from 143 units in May 2023 to 168 units in May 2024.

• Higher price brackets, such as $1,000,000 - $1,299,999, also saw substantial growth, with sales rising from 70 units in May 2023 to 106 units in May 2024.

6. Market Trends:

• The average price, median price, and benchmark price have all seen a year-over-year increase, indicating overall price appreciation in the market.

• The months of inventory have trended downward, suggesting a tightening market with increased demand relative to supply.

In summary, the Calgary detached home market is experiencing robust growth with increased new listings, higher prices, and a quicker turnover rate, reflecting strong demand and a healthy market environment.

We offer free home evaluations for home sellers and ready to help home buyers anytime. 

The latest CREB stats for May 2024 indicate a strong performance in the Calgary condo market. Here are the key highlights:

1. Sales Growth:

• Sales have increased to 908 units in May 2024, up from 857 units in May 2023.

• Year-to-date (YTD) sales have also risen, from 3,077 in 2023 to 3,669 in 2024.

2. New Listings and Inventory:

• New listings have grown significantly, with 1,249 new listings in May 2024 compared to 1,025 in May 2023.

• The total inventory has also increased to 1,110 units in May 2024, from 1,090 in May 2023.

3. Days on Market:

• The average days on market has decreased, indicating a faster-paced market. In May 2024, it stands at 22 days, down from 29 days in May 2023.

4. Pricing Trends:

• The benchmark price for condos has risen to $340,500 in May 2024, compared to $288,900 in May 2023.

• The median price has slightly decreased from April 2024 ($330,000) to May 2024 ($327,550), but overall, it shows an increase from May 2023 ($277,500).

• The average price saw an increase, reaching $349,154 in May 2024 from $307,504 in May 2023.

5. Price Range Sales:

• There has been a notable increase in sales across higher price ranges. For instance, sales in the $300,000 - $349,999 range increased from 151 units in May 2023 to 225 units in May 2024.

• Higher price brackets, such as $400,000 - $449,999, also saw substantial growth, with sales rising from 37 units in May 2023 to 83 units in May 2024.

6. Market Trends:

• The average price, median price, and benchmark price have all seen a year-over-year increase, indicating overall price appreciation in the market.

• The months of inventory have trended downward, suggesting a tightening market with increased demand relative to supply.

In summary, the Calgary condo market is experiencing robust growth with increased sales, higher prices, and a quicker turnover rate, reflecting a strong demand and a healthy market environment.

We offer free home evaluations for home sellers and ready to help home buyers anytime. 

Investing in real estate can be a powerful strategy for building wealth, and understanding historical market trends is crucial to making informed decisions. Imagine if you had access to comprehensive data showing the highs, lows, and average sale prices of homes over the past decade in a specific Calgary community. This information is more than just numbers; it’s a roadmap to potential financial success.

Unveiling the Trends: High, Low, and Average Sale Prices

The attached charts provide a visual representation of the real estate market in one Calgary community from 2014 to 2024. The top chart illustrates the annual high, low, and average sale prices of homes, while the bottom chart showcases the corresponding prices per square foot. Here’s a closer look at what these trends reveal:

• High Sale Prices: Tracking the peaks in the market, these figures show the potential maximum return on investment. For instance, the highest sale price in 2016 was an impressive $1,050,000, while in 2024, it reached $1,195,000.

• Low Sale Prices: The low sale prices provide insights into the market’s entry points. In 2019, the lowest recorded sale was $320,000, presenting a significant buying opportunity.

• Average Sale Prices: The average prices offer a balanced view of the market, showing steady growth over the years. In 2024, the average sale price was $762,121, a notable increase from $503,879 in 2014.

Price Per Square Foot: A Deeper Dive

Analyzing the sale prices per square foot further refines our understanding of property values. The bottom chart highlights the annual high, low, and average prices per square foot, offering granular insights into the market:

• High Prices Per Square Foot: These peaks indicate premium valuations, with 2024 reaching $895 per square foot.

• Low Prices Per Square Foot: The lows highlight opportunities to purchase properties at lower cost, such as $177 per square foot in 2019.

• Average Prices Per Square Foot: Reflecting overall market trends, the average price per square foot in 2024 was $459, up from $330 in 2014.

Strategic Insights for Investors

By analyzing these trends, investors can gain a strategic advantage. If you could go back in time and buy at the lowest price each year and sell at the highest, the financial gains would be substantial. This historical data underscores the importance of market timing and the potential returns of astute real estate investments.

Why Contact Jerry Charlton?

Navigating the Calgary real estate market requires expertise and access to detailed data. As a seasoned Realtor since 2002, Jerry Charlton offers:

• In-depth Market Analysis: Gain access to comprehensive historical data and market insights tailored to your investment goals.

• Personalized Advice: Benefit from Jerry’s extensive experience and personalized guidance to maximize your investment returns.

• Proven Track Record: With a deep understanding of Calgary’s real estate market, Jerry Charlton can help you make informed decisions that align with your financial objectives.

Don’t miss out on the opportunity to leverage this valuable information. Contact Jerry Charlton today to explore in-depth data and receive expert advice tailored to your investment needs. Let’s turn historical trends into future profits.

When it comes to securing a mortgage in Calgary, understanding current mortgage rates is crucial for making informed decisions. The mortgage rates can vary significantly based on the type and term of the mortgage. Let's dive into the latest mortgage rates and what they mean for you as a homeowner or potential buyer.

Current Calgary Mortgage Rates

Here's a snapshot of the current mortgage rates in Calgary as of May 31, 2024:

-  5 Year Fixed:  4.79%
-  4 Year Fixed:  5.04%
-  3 Year Fixed:  4.99%
-  5 Year Variable:  6.15%
-  Prime Rate:  7.2%

Fixed vs. Variable Rates: What's the Difference?

Understanding the difference between fixed and variable mortgage rates is key to choosing the right mortgage for your financial situation.

Fixed Mortgage Rates:

Stability:  Fixed mortgage rates offer stability as the interest rate remains the same throughout the term of the mortgage. This means your monthly payments will stay consistent, making it easier to budget.

Predictability:  With a fixed rate, you'll know exactly how much interest you'll pay over the term of the mortgage, protecting you from potential rate increases.

Example:  If you choose a 5-year fixed mortgage at 4.79%, your interest rate will remain 4.79% for the next five years.

 Variable Mortgage Rates:

Flexibility:  Variable rates can fluctuate based on the prime rate set by the Bank of Canada. While this can lead to lower initial rates, there's a risk of rates increasing over time.

Potential Savings:  If interest rates decrease, you could save money with a variable rate. However, if rates rise, your payments could increase.

Example:  A 5-year variable mortgage at 6.15% means your rate could change based on market conditions, impacting your monthly payments.

Prime Rate: What You Need to Know

The prime rate, currently at 7.2%, is the interest rate that commercial banks charge their most creditworthy customers. It serves as a benchmark for various loan products, including variable-rate mortgages. When the prime rate changes, it directly affects variable mortgage rates, lines of credit, and other loans.

How to Choose the Right Mortgage

Choosing the right mortgage depends on several factors, including your financial situation, risk tolerance, and future plans. Here are some tips to help you decide:

Assess Your Financial Situation:  Consider your current income, expenses, and how stable your financial situation is. If you prefer predictable payments, a fixed-rate mortgage might be the best choice.

Consider Your Plans:  If you plan to stay in your home for a long time, a fixed-rate mortgage offers stability. However, if you might move or refinance in a few years, a variable rate could save you money initially.

Evaluate Market Trends:  Keep an eye on market trends and economic forecasts. If interest rates are expected to rise, locking in a fixed rate now could be advantageous.

Consult a Mortgage Professional:  Speaking with a mortgage broker or financial advisor can provide personalized advice based on your unique circumstances.

Understanding the current mortgage rates in Calgary and the differences between fixed and variable rates can help you make an informed decision. Whether you opt for the stability of a fixed rate or the potential savings of a variable rate, make sure to evaluate your financial situation and future plans. For more detailed information and personalized advice, consider consulting with a mortgage professional.

If you're ready to explore your mortgage options or need further guidance, don't hesitate to contact us. We're here to help you navigate the mortgage landscape and secure the best rates for your needs.