Calgary, Alberta Real Estate Video Blog with James Murphy

Showing posts with label market update. Show all posts

What Do Changing Oil Prices Mean for the Real Estate Market?

There are many great Calgary area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a list of Featured Properties so you know what buyers will pay for your home in today's market. You may also call me at (403) 660-6200 for a FREE home buying or selling consultation to answer any of your real estate questions.

Many folks here in Alberta have asked me what a sudden change in oil prices might mean for our market. The truth is, we can't really know until 2-6 months after the change. Most changes don't have an immediate impact on our market. The good news for our market is we've seen a positive net migration over the last two years, which is a strong indicator of a healthy market.

Alberta is the highest net employer in all of Canada. Over the next decade or so, the rest of Canada will depend on our energy, so there doesn't appear to be any reason to worry about any volatile changes in oil prices in the near future.

There are some great opportunities in our current market. We're seeing development in the inner city and expropriation of land on the outskirts. If you're interested in making a move soon, give us a call or shoot us an email. We'd be pleased to help you make a plan and get the most of your buying or selling experience. See you soon!

Real Estate Market Update for Fall 2014

Today we are going to talk about our yearly sales results in the Calgary marketplace. There have been some interesting changes over the past year that we want you to be aware of so you can better understand our market.

In August of 2013, there were approximately 2900 homes sold for an average sales price of $445,000. In August of 2014, both those figures rose. In August 2014, there were 3000 home sold for an average of $475,000. We are seeing a significant increase in values of homes and a huge net migration in the city of Calgary.

These statistics are relevant right across the board in the city, but you really need to look at each specific neighborhood for your specific purposes. A steady increase in the average sales price over time in an area is a good sign. This sustains value in the market.

If you'd like to sit down with us and talk about real estate, we would love to meet with you. Give us a call or send us an email so we can set something up. We look forward to chatting with you!

It's a Great Time to Buy or Sell in Calgary

Looking to buy or sell a home in Calgary, Alberta? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (403) 660-6200 for a FREE home buying or selling consultation to answer any of your real estate questions.

What's Happening with home values?

Home values are up 5.5% here in Calgary. This means that on average, a home is worth an extra $25,000 dollars. Inventory is also down by 18% since last year at this time, and this will continue to impact home prices.

What people keep asking me is, "If I sell now, will I have a place to live?"

The truth is that this could happen. However, there are rentals available on the marker and there will always be rentals available on the market. In fact, there is a 2% vacancy rate on a total of 40,000 rentals here in Calgary. That means that there are 800 places for you and your family to move in to temporarily. Although this isn't the ideal situation because you have equity locked up in your house, this can be avoided if you work with me to plan your move carefully.

This is an exciting time for real estate here in Calgary because with the low inventory, you are able to sell at the top of the market. Even if you do have to rent for 3, 6, or 9 months, in the meantime you can realize the huge upside in both buying and in selling.

So, I look forward to chatting with you and going through the statistics. I don't want you to have to rent a home after you sell your own, and I think that could be avoided if you plan carefully with me. We'll talk about your home and arrange a road map for you so that you don't have to rent a property in the meantime.

As always, contact me for any and all of your Calgary real estate needs. It's a great time to buy, and it's also a great time to sell. Don't miss out!

Exciting Calgary Real Estate Update for Spring 2014

I'm here again to update you on the Calgary real estate market. I will be going over certain things that clients were asking about, and also some issues that I find particularly pertinent to your success in real estate.

We are currently below two months worth of inventory, and this is pushing prices upwards.

This is your chance to sell if you've been thinking of selling. It's also a good time to buy because interest is low.
The highest volume of sales is within the $500-550,000 dollar price range.

60% of sales are coming from this area.

If you're thinking about making a move this spring...

You have about a 60-90 day window to move after you've sold your home.
If you sell your home now and buy later, there is a good chance that you will find a great deal on a new home because the market will be flooded with people selling their homes.

It's an exciting time in Calgary for real estate:

Inventory is low, and people are still moving here.
Employment is strong.
Calgary is growing very quickly population-wise with over a million people in the area.

So, if you're looking to buy or sell in Calgary, now would be the time to talk to me about arranging a time to meet and discuss your current situation. Timing is very important as we head into a very busy spring and summer marketplace. You can reach me at (403) 660-6200 or visit www.jamesmurphy.com

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