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.

Unlocking the Power of Data: Jerry Charlton’s Interactive Calgary Real Estate Visual in Power BI

In the ever-evolving world of real estate, information is power. Whether you’re a homebuyer, seller, or investor, making informed decisions is crucial to success. Jerry Charlton, a busy Calgary Realtor, has harnessed the power of data to create an extraordinary interactive visual in Power BI that offers unparalleled insights into the Calgary real estate market. This tool, with its comprehensive data and user-friendly interface, is designed to help you navigate the complexities of buying, selling, and investing in Calgary’s diverse neighborhoods.

The Comprehensive Overview: Exploring Over 200 Calgary Communities

The first page of this interactive visual is a treasure trove of information. It allows users to choose from over 200 communities in Calgary, offering a granular view of the real estate landscape. Once a community is selected, you can further refine your search by choosing the type of home: Detached, Attached, Apartments, or Half Duplexes. This specificity ensures that you get the most relevant data tailored to your needs.

Key Metrics at Your Fingertips

On this page, the tool presents crucial metrics, including the number of sales, property style, minimum and maximum sold prices, average sold prices and average sold prices per square foot. Additionally, a map shows the exact locations of these homes within the chosen community, providing a visual representation of the market distribution.

This wealth of data is invaluable for understanding the market dynamics in any given community. Whether you’re curious about the price range of detached homes in a specific area or want to see where most apartments are selling, this page offers a clear and detailed overview.

Recent Sales: Diving into the Details

The Recent Sales page takes the data a step further, offering a list of actual sales. This page is particularly useful for those who want to delve into the specifics of recent transactions.

Detailed Transaction Data

For each sale, the visual provides the sold date, original list price, sold price, percentage of sold price to list price, days on the market (DOM), sold price per square foot, size, address, number of bedrooms and bathrooms, whether there’s an ensuite, if there’s a garage, and the style of the home.

This detailed breakdown allows you to see how individual properties are performing relative to their list prices and how quickly they’re selling. It’s an excellent resource for both buyers and sellers looking to gauge market activity and trends.

Historical Trends: Average Prices Over Time

For investors and analysts, understanding historical price trends is essential. The Avg Prices page provides a comprehensive view of the market over the past decade, showing yearly high, low, and average prices for both sale prices and sale prices per square foot.

Visualizing Market Trends

This page features a graph that tracks these prices over time, offering a clear picture of how the market has evolved. This historical data is particularly useful for identifying long-term trends and patterns, helping investors make informed decisions about where and when to invest.

Size vs. Price: The Scatter Chart

The Size/Price Chart is another powerful tool within this interactive visual. It shows sales from the past 180 days on a scatter chart, with size in square feet along the bottom and sold prices along the side. Each dot on the chart represents an actual sale, providing a visual representation of the relationship between home size and sale price.

Insights at a Glance

This scatter chart is incredibly useful for identifying outliers and trends in the market. For instance, you can quickly see if larger homes are consistently selling for higher prices or if there’s a wide range of prices for homes of similar sizes. This information can be crucial for pricing strategies and understanding market value.

A Tool for Everyone

Combined, these four pages offer a wealth of information to home buyers, sellers, and investors looking to make better-informed decisions in the Calgary real estate market. Jerry Charlton’s interactive visual in Power BI is not just a tool; it’s a comprehensive resource that brings transparency and clarity to the real estate market.

Empowering Home Buyers

For home buyers, this tool provides a detailed understanding of the market dynamics in their desired communities. By exploring the number of sales, property styles, and price ranges, buyers can make informed decisions about where to purchase. The Recent Sales page offers a glimpse into what similar homes have sold for, helping buyers set realistic expectations and make competitive offers.

Supporting Sellers

Sellers benefit immensely from this tool as well. By understanding the average sold prices and market trends, they can price their homes more accurately and strategically. The detailed transaction data provides insights into how quickly homes are selling and at what prices, enabling sellers to position their properties effectively in the market.

Guiding Investors

Investors, perhaps more than anyone, rely on data to make profitable decisions. The historical price trends and scatter charts offer valuable insights into market fluctuations and potential investment opportunities. By identifying communities with stable or rising prices, investors can make informed choices about where to allocate their resources.

Jerry Charlton’s interactive visual in Power BI is a game-changer for the Calgary real estate market. By providing detailed, accurate, and up-to-date information, this tool empowers home buyers, sellers, and investors to make smarter decisions. Whether you’re looking to buy your first home, sell a property, or invest in Calgary’s vibrant real estate market, this interactive visual offers the insights you need to succeed. Explore it today and unlock the power of data in your real estate journey.

As we welcome the warmth of spring in Calgary, the real estate market is showing signs of renewed activity. In this article, we'll delve into the current state of the market, exploring trends, statistics, and expert insights to help you make informed decisions.

Market Overview

The Calgary real estate market has experienced a steady recovery since the pandemic. According to the Calgary Real Estate Board (CREB), April 2024 saw a 12% increase in sales compared to the same period last year. This growth is largely driven by the detached home sector, which accounts for over 60% of total sales.

Detached Homes

The detached home market is leading the charge, with a 13% year-over-year increase in sales. The benchmark price for detached homes rose 1.3% month-over-month to $749,000, and 13% year-over-year. This growth can be attributed to increased demand, particularly in the $500,000 to $1,000,000 price range.

Semi-Detached and Row Homes

Semi-detached and row home sales have also seen a significant uptick, with a 15% year-over-year increase. The benchmark price for semi-detached homes rose 1.5% month-over-month to $520,000, and 10% year-over-year. Row home prices saw a 1.2% month-over-month increase to $430,000, and a 9% year-over-year increase.

Condominiums

The condominium market is slowly gaining momentum, with a 5% year-over-year increase in sales. The benchmark price for condominiums remained stable, with a 0.5% month-over-month decrease to $270,000, but a 3% year-over-year increase.

Neighborhood Spotlight: Beltline and Downtown

The Beltline and Downtown areas are experiencing a surge in popularity, driven by the demand for inner-city living and proximity to amenities. Sales in these areas have increased by 20% year-over-year, with the benchmark price for detached homes rising 15% to $1,200,000, and condominium prices increasing 5% to $400,000.

Expert Insights

"Calgary's real estate market is showing promising signs of growth, particularly in the detached home sector," says Jerry Charlton, a seasoned real estate agent with years of experience in the Calgary market. "As the economy continues to recover, we expect to see increased demand and prices stabilizing. It's an excellent time for buyers to explore their options and for sellers to capitalize on the growing market."

What's Next?

As we move into the summer months, we anticipate the market to remain active, with continued growth in the detached home sector. Interest rates are expected to remain stable, making it an attractive time for buyers to enter the market. Sellers, on the other hand, should consider pricing their properties competitively to attract potential buyers.

Conclusion

The Calgary real estate market is poised for a strong summer season, driven by the detached home sector and growing demand in popular neighborhoods like Beltline and Downtown. Whether you're a buyer or seller, it's essential to stay informed and adapt to the changing market conditions. Contact Jerry Charlton and his team to navigate the market with confidence and expertise.

Stay Informed

Subscribe to our newsletter for regular market updates, expert insights, and exclusive listings. Follow us on social media for the latest news and trends in the Calgary real estate market.

Get in Touch

Contact Jerry Charlton and his team to discuss your real estate needs and goals. Call (403) 123-4567 or email jerry@jerrycharlton.com to schedule a consultation today!

Housing Stats like these for Acadia, Fairview, Haysboro and Canyon Meadows are available through me for every other community in Calgary as well. They are important and helpful to me everyday because that is my job. They might be important to you just a few times in your life. When you are ready to make your next move you want a better understanding of Calgary Real Estate Market conditions at that particular time from a wide angle view to a very narrow focused view and we are here to help you with that.
The questions we start with go something like this: What is the total market doing? What is a community doing? What is a property type doing? What is a property type in a price range doing? What other options are in that price range in Calgary and in closer proximity to the home your are selling or buying.
The answers to those questions and more are part of the process we go through to help buyers and sellers make more confident decisions. Most people only need to make these big real estate decisions a few times in their lives. And we know the more detailed information you have to consider the better!
Let us help you the next time you are ready to make a move. Contact Us Anytime.

Acadia
MLS® Stats April 2024

14.3% Overall increase year of year is pretty nice for current home owners and real estate investors.

Contacts us for more information on buying and selling Acadia Calgary Real Estate.

Fairview
MLS® Stats April 2024

Fairview Real Estate increased by 20% since last year. WoW

Haysboro
MLS® Stats April 2024

Kitty corner from Fairview is a much larger area with a wider range of home prices which makes the overall year over year look small. But then look at the 20% increase in detached homes.

Don’t wait to invest in Real Estate - Invest today and Wait..

Canyon Meadows
MLS® Stats April 2024

11% Increase would make most people happy. Look closer at the different categories of home types and you’ll see over 30% for Apartments in Canyon Meadows.

When it comes to buying a foreclosed property in Calgary, one of the first decisions you'll need to make is whether to pursue a bank-owned foreclosure or a court-ordered foreclosure. Each type has its own advantages and challenges, and understanding these differences can help you make the best decision for your real estate goals. In this guide, we'll dive into the ins and outs of both, making sure you're well-prepared for your next investment.

What Is a Bank-Owned Foreclosure?

A bank-owned foreclosure, also known as a Real Estate Owned (REO) property, is one that has gone through the foreclosure process and is now owned by the bank. The property owner defaulted on the mortgage, and after following the necessary legal procedures, the bank has taken possession of the property.

Why Banks Sell Foreclosures

Banks are not in the business of holding onto real estate, so their goal is to sell these properties as quickly as possible. They want to recover their losses from the defaulted mortgage and move on, which often means pricing these properties competitively to attract buyers.

The Benefits of Buying a Bank-Owned Foreclosure

• Faster Process: With bank-owned foreclosures, the bank has already gained possession of the property, which means the sale process can be faster compared to court-ordered foreclosures.

• Fewer Legal Complications: Since the bank is the sole owner, you don’t have to deal with ongoing court involvement, making it a smoother experience for the buyer.

• Negotiation Flexibility: Banks are typically more willing to negotiate on price, repairs, or closing costs, especially if the property has been sitting on the market for a while.

Things to Watch Out For

• As-Is Condition: Bank-owned properties are almost always sold "as-is." Be prepared for unexpected repairs, as banks do not typically invest in maintenance before selling.

• Limited Disclosures: Banks are often not required to provide full disclosure about the property's condition, so it’s crucial to do a thorough inspection before committing.

What Is a Court-Ordered Foreclosure?

A court-ordered foreclosure is a property that is being sold under the supervision of the court. This happens when a lender, such as a bank, wants to sell a property but must first go through the legal system to get approval. This type of foreclosure sale aims to ensure that all parties involved, including the original homeowner, are treated fairly.

The Role of the Court

The court acts as an intermediary between the bank and the homeowner. The goal is to ensure that the homeowner's rights are protected and that the property is not sold at an unreasonably low price. Because of this, the process can be slower and involves more legal paperwork compared to buying a bank-owned property.

The Benefits of Buying a Court-Ordered Foreclosure

• Transparency: The court process ensures that the sale is conducted fairly, which can add a layer of transparency that some buyers appreciate.

• Potential Deals: Since court-ordered foreclosures are subject to judicial oversight, there are often fewer competing offers, meaning there’s potential for getting a good deal if you’re willing to navigate the legal process.

Challenges to Consider

• Lengthy Process: Since the sale must be approved by the court, the timeline can be unpredictable. It may take months, or even longer, for the sale to be finalized.

• Limited Negotiations: The offer process is much more rigid, with fewer opportunities to negotiate price or terms compared to bank-owned foreclosures.

• Uncertainty: The homeowner can still redeem the property by paying off their debt, which could nullify your purchase even after making an offer.

Which Is Right for You?

Choosing between a bank-owned and a court-ordered foreclosure comes down to your risk tolerance, patience, and goals as a buyer. Here are some factors to consider:

• Speed: If you're looking for a faster transaction, a bank-owned foreclosure may be the better choice. The bank already owns the property, so once your offer is accepted, the process can move forward quickly.

• Potential Bargains: If you're more interested in getting a potentially lower price and are willing to wait, a court-ordered foreclosure could provide more opportunities, as there may be fewer competing buyers.

• Complexity: If you prefer a simpler transaction, bank-owned properties come with fewer legal hurdles. On the other hand, if you’re comfortable navigating the court system, a court-ordered foreclosure can sometimes yield unique opportunities.

Tips for Success in the Calgary Foreclosure Market

1. Work with an Experienced Realtor: The foreclosure market in Calgary can be complex. An experienced Realtor who understands both bank-owned and court-ordered foreclosures can help you navigate the nuances and maximize your chances of success.

2. Get Pre-Approved: Whether you're buying a bank-owned or court-ordered foreclosure, having your financing in place will make the process smoother. Banks and courts are more likely to take your offer seriously if they know you have secured funding.

3. Be Prepared for Repairs: Foreclosed properties are often neglected. Set aside a budget for repairs, as these properties may have hidden issues that need to be addressed after purchase.

4. Stay Patient: If you're pursuing a court-ordered foreclosure, patience is key. The legal process can be lengthy, but for the right property, the wait can be worth it.

Buying a foreclosed property in Calgary can be a fantastic opportunity for those who understand the differences between bank-owned and court-ordered foreclosures. By knowing what to expect and preparing accordingly, you can make informed decisions that align with your goals.

If you have more questions or are ready to start your journey into Calgary's foreclosure market, Contact Us today. We're here to help you every step of the way!

Investing in Condos in Calgary, Alberta

Buying and selling condos in Calgary, Alberta, can be a profitable venture if done strategically. Here are some ideas and tips to consider:

Market Research: Start by conducting thorough market research to understand the current real estate trends in Calgary. Analyze factors like demand, supply, and pricing in different neighbourhoods.

Identify Target Neighborhoods: Calgary has several neighbourhoods with varying price ranges and demand. Identify neighbourhoods that are popular among condo buyers and have the potential for future growth.

Real Estate Agent: Consider partnering with a local real estate agent who has expertise in the Calgary condo market. They can provide valuable insights and help you find lucrative opportunities.

Property Types: Diversify your portfolio by considering various types of condos, such as luxury condos, starter condos, or investment properties. Each type may cater to a different market segment.

Renovation and Improvement: Look for condos that need renovation or upgrades. Adding value through improvements can increase your selling price and profit margin.

Rental Income: If possible, invest in condos that can generate rental income. Calgary has a strong rental market, and renting out your properties can provide a steady cash flow.

Short-term Rentals: Explore the option of short-term rentals (e.g., Airbnb) in areas with high tourist traffic. This can yield higher rental income during peak seasons.

Financial Analysis: Perform a thorough financial analysis to assess the potential return on investment (ROI) for each property. Consider factors like mortgage rates, property taxes, and maintenance costs.

Networking: Build a network within the real estate community in Calgary. Attend local real estate events, join investment groups, and connect with other investors and professionals.

Marketing: Develop a strong online presence for your condo listings. Use professional photos, virtual tours, and social media to attract potential buyers.

Negotiation Skills: Hone your negotiation skills to secure the best deals when buying and maximize profits when selling.

Legal and Compliance: Ensure you are well-versed in local real estate laws and regulations. Compliance is crucial to avoid legal issues.

Financing Options: Explore financing options, including mortgages and partnerships, to fund your condo purchases. Compare interest rates and terms to find the most favourable option.

Long-term vs. Short-term: Determine whether you want to focus on short-term flips or long-term investments. Both strategies have their pros and cons, so choose based on your financial goals.

Property Management: If you plan to invest in multiple condos, consider hiring a property management company to handle day-to-day operations and tenant interactions.

Sustainability: In today's market, sustainable and energy-efficient features can add value to your condos. Consider eco-friendly upgrades when renovating or purchasing.

Remember that the real estate market can be cyclical, so it's important to have a long-term strategy and be prepared for fluctuations. Seek advice from professionals and continuously educate yourself about the local market conditions to make informed decisions.

FAQs

What are the best neighbourhoods in Calgary for investing in condos?

Some of the top neighbourhoods for condo investments in Calgary include Beltline, East Village, and Eau Claire. These areas are known for their vibrant urban lifestyle and have shown consistent demand and growth in property values, making them attractive for both rental and resale markets.

How can I ensure a good return on investment (ROI) when buying condos in Calgary?

To maximize ROI, focus on properties that offer opportunities for value addition through renovation or have potential for high rental yields. Areas like Stephen Avenue or close to the University of Calgary offer lucrative opportunities due to their high foot traffic and tenant demand.

Are there specific legal considerations for condo investments in Calgary?

Yes, investors should be aware of the Alberta Condominium Property Act, which outlines the legal framework for condominium operations. It's also essential to understand specific bylaws within Calgary and any condo association rules that could affect your investment strategy.

What strategies can enhance the profitability of short-term condo rentals in Calgary?

Focusing on condos in tourist-friendly areas such as near the Calgary Zoo or Stampede Park can increase profitability. Offering well-designed, fully furnished units that cater to short-term needs and leveraging platforms like Airbnb during peak seasons such as during the Calgary Stampede