McKenzie Lake Market Update - February 2023
McKenzie Lake Market Update - January 2023
Calgary Market Update - February 2023
Calgary Market Update - January 2023
Calgary Market Update - December 2022
McKenzie Lake Market Update - December 2022
July CREB Stats
The pace of sales has slowed, but there is still record activity. Inventory is slowly increasing, which is bringing more balance to the market, but varies greatly between product types. There is currently around 2 months supply for detached homes, but around 6 months for condominiums.
Prices have rebounded as well. After 14 years of mostly down markets, with the exception of 2014, prices for the most part have risen to 2006 - 2007 levels again. This is welcome news to many that may have purchased in up markets and steadily lost equity. That equity has now been restored.
Hope you enjoy the rest of your summer!
Hope you enjoy the rest of your summer!
For complete CREB stats, click here:
Calgary Market Report - May 2021
I always loved that scene from Lonesome Dove and I think about it whenever my kids remind me that I'm not that young anymore!
This market is definitely making me feel older though. List a home, have 25 showings in the first 2 days, generate 3,4, 5 offers, sell above list, rinse and repeat! I don't know how long this is going to last, but things are still moving pretty quick.
It is interesting to note though, some homes sell like this, then others sit on the market for 30, 45, 60 days. There's certainly some things you have to do, even in a hot market.
The banking industry is talking about raising the stress test on mortgages from 4.79% to 5.25%. That represents about $20,000 less that people will qualify for. The hazards of hot markets...
To all the Mom's, hope you have a wonderful Mother's Day this weekend. One of the toughest jobs on the planet!
This months CREB stats report can be accessed by clicking here:
This market is definitely making me feel older though. List a home, have 25 showings in the first 2 days, generate 3,4, 5 offers, sell above list, rinse and repeat! I don't know how long this is going to last, but things are still moving pretty quick.
It is interesting to note though, some homes sell like this, then others sit on the market for 30, 45, 60 days. There's certainly some things you have to do, even in a hot market.
The banking industry is talking about raising the stress test on mortgages from 4.79% to 5.25%. That represents about $20,000 less that people will qualify for. The hazards of hot markets...
To all the Mom's, hope you have a wonderful Mother's Day this weekend. One of the toughest jobs on the planet!
This months CREB stats report can be accessed by clicking here:
Coming Soon!
90 Mt Gibraltar Heights SE - $525,000
Cardel built 2379 sf 4 bedroom home. Main floor den, main floor laundry, large south yard, new flooring, fresh paint, new appliances, granite counters. A great family home in a great family, lake community.
Coming Soon!
Coming Soon! 40 McKerrell Close SE - $344,900 - Double Rear Garage!
Calling all first time buyers or investors! This 1000 sf bilevel is ready for your sweat equity to build value! 3 bedrooms and 1 bath up and a self contained 1 bedroom lower suite. Located on a huge pie lot on a very quite close with LAKE privileges. Take advantage of a PURCHASE PLUS IMPROVEMENTS mortgage and borrow up to $40,000 to do renovations! This is a great home to add value yourself!
Client Newsletter - April 2021
Still a bit of a crazy market out there, but some interesting insights. Homes that are priced well and show well are selling within days of being listed and often at or above asking price. Homes that are priced too high, are sitting on the market longer and when they do sell, don't benefit from the multiple offer scenario. Interesting that even in super hot markets, some basic fundamentals still prevail.
Some other tips for a hot market that seem to repeat themselves each time we find ourselves in this situation. When selling, if you price very close to the market, or even a bit below, you will be swamped with showings and offers. Price too high and crickets. When buying, keep an eye out for homes that are priced a bit too high. As stated above, the activity level is much lower on those homes and often you wind up getting a better deal than on an under-priced home because of the difference in interest.
Hope you have a wonderful Easter and get to enjoy some down time and family time, however that looks this year!
This months CREB stats report can be accessed by clicking here:
P.S. Thank you so much for any referrals that you have sent my way. My business is over 70% repeat and referral - all because of you! :-)
Some other tips for a hot market that seem to repeat themselves each time we find ourselves in this situation. When selling, if you price very close to the market, or even a bit below, you will be swamped with showings and offers. Price too high and crickets. When buying, keep an eye out for homes that are priced a bit too high. As stated above, the activity level is much lower on those homes and often you wind up getting a better deal than on an under-priced home because of the difference in interest.
Hope you have a wonderful Easter and get to enjoy some down time and family time, however that looks this year!
This months CREB stats report can be accessed by clicking here:
P.S. Thank you so much for any referrals that you have sent my way. My business is over 70% repeat and referral - all because of you! :-)
Coming Soon!
81 Mt Robson Close SE. $550,000
Upgraded 1900 sf McKenzie Lake home, walking distance to both Public and Catholic schools. Freshly painted throughout, new windows, newer roof, newer furnace, tankless hot water, updated kitchen, updated bathrooms, newer lower development. This is a great family home on a kid friendly, family street.
Mike Ouellette
RE/MAX Realty Professionals
Office Address:
#10, 6020 - 1A STREET S.W.
Calgary, AB, T2H 0G3