DailyStats.ca

Will my prediction come true?

2008-05-10T14:34:00Z

I predicted on Jan 30 that Single Family Home prices would fluctuate this year within +/- 5% of the January price. That would mean we could see a drop in median prices to as low as $389,500, and average price to $432,532. Do you think this is still possible? The median price today is $$422,000 and the average is $483,035. We have already reached the plus side figures on average price(plus 5% would be $478,061) and come very close on median price(plus 5% would be $430,500 and we were at $428,000 in...(read more)

SFH average price in April goes up $51.00 !!!!!

2008-05-01T16:20:00Z

I knew you'd enjoy the headline. It illustrates that very little changed in April. The only price indicator that showed any movement from March was the condo median price which went from $293,000 to $290,000. The April SFH average price was $474,564. Average days on market was 40. Compared to last year, the sfh average price was the same, but the median is down $12,000, from $432,000 to $420,000. Sales were down 34% from April last year and down 4% compared to March. A higher percentage of homes...(read more)

Alberta's environmental irresponsibility is going to hurt us

2008-04-30T14:43:00Z

If you think environmental issues aren't going to affect us in Alberta, the lead story on the CBC, and the front page of the Herald today should give us pause. 500 birds trapped in oil . The Herald story states, "In an advertisement from a coalition of American and Canadian environmental groups, an oilsands mining operation is captured within an image of a maple leaf oozing oil like blood." People from all over the world are hearing about this. Don Braid says in his Herald column, "...(read more)

Price Reductions - To Advertise or Not

2008-04-20T14:55:00Z

Thank you to Warren for submitting this topic: On March 25, Bob wrote in What's New "We're averaging 126 price reductions per day over the past week. That's as high as they were back in October when we had approximately the same inventory." I can only assume that this trend has continued or even intensified in the month since that post (Bob would have more accurate data on this). (It's now 166/day over the past week -Bob) I've been watching the listings for a couple...(read more)

Balanced market is forecast by TD Bank

2008-04-10T23:08:00Z

A TD Economics Special Report released today calls for a 5% increase in home prices in Alberta for 2008, and no major correction. Hi-lites of the report: The main conclusion is that sales will moderate, leading to a sales-to-new listing ratio that is consistent with balanced markets and cause more moderate price growth. However, we still don’t see a major housing correction for a number of reasons. · First, the parallels with the U.S. experience are limited. Much of the U.S. housing...(read more)

C'mon Albertans, let's protect our wildlife!

2008-04-08T15:45:00Z

Alberta plans to kill wolf pups This is a cause that I am passionate about and I am compelled to share my feelings. As a long-time volunteer for environmental causes, I am outraged at the provincial government’s proposal for a wolf cull. “Researchers in the University of Alberta's department of biological sciences have proposed a cull of wolves in the Rocky Mountain House area. This would involve shooting wolf pups and sterilizing older wolves, with the intention of boosting the elk...(read more)

How much is "market savvy" worth?

2008-04-04T14:16:00Z

I had buyers come to town on Feb 18. We looked at 12 properties in one particular area of Calgary. They found their perfect house but were unsure of how to proceed because they needed to sell their own house. My advice was to sell their own house first, before putting in an offer, because they would have better bargaining power by not putting that in as a condition. I advised that in the present market, there was a good chance that their dream house would still be available in 30 days. It's also...(read more)

Bob the Bear?!

2008-04-02T02:49:00Z

I did an interview with one of the radio stations today who wanted a summary of the March month-end. That's not news, but someone who heard the interview actually looked me up and called me. He gave his name and said he was a stockbroker and that he'd seen my signs around his neighbourhhod on occasion. He then proceeded to say that he was relieved to finally hear a realtor tell it like it is. I don't remember exactly what I said in the interview, but the gist of it was "Lots of inventory,...(read more)

Year-Over-Year Losses: Any fallout?

2008-03-26T15:36:00Z

We've been sailing in uncharted territory for the past two-and-a-half years in the Calgary housing market and nobody has predicted with any accuracy the events that have transpired. Forecasts are all over the place now. There are extremists on both ends of the spectrum, forecasting everything from a crash to a continued escalation in prices. March or April will be the first month since 1996 when we will experience year-over-year price losses. Will this affect anything significantly? I don't...(read more)

Are you an "Armchair Realtor?"

2008-03-20T07:05:00Z

Spring is here, and what better time to present a new idea. This concept is still in the embryo, but I wanted to get some feedback on it: DailyStats.ca was a cutting-edge idea when it started. Can you imagine going without it now? Something that didn't exist two years ago is now a part of so many Calgarian's daily lives. Now I want to try something even more revolutionary. I'd like to get all my bloggers involved in the evaluation process of a new listing, then follow the entire process...(read more)

What are Buyers Thinking?

2008-03-02T19:09:00Z

There was no rush to buy last fall. Prices were going down and inventory was building. If you picked out a property that you desired, you could take your time, wait for more new listings to view, go for a holiday, do some Christmas shopping, and there was a good liklihood that the house was still there. Now that the Days on Market is down to 40, from 51 in December, and prices are creeping up, does it create any sense of urgency? If you are a buyer, does it motivate you to get more serious? Do you...(read more)

Feb month end. Who would've guessed?

2008-03-01T08:50:00Z

Feb median price for single family homes is up 4.4%($18,000) over January. Average price is up 3.6%($16,399). Since Dec 31, the median price has risen 5.2%($21,212), and the average price has risen 6.1%(26,927). Feb sales are down 36% from last year. 2007 was not exactly a balanced market in Feb. Insane and frenzied might be too mild to describe it. A fairer comparison to the 7-year average still puts sales down 13%. Days on the market decreased to 39 from 50(January). C'mon now, with the huge...(read more)

This blog is open for business!

2008-02-27T15:07:00Z

Hi everybody! I still have a few kilometres* to go, but I'm opening the blog after a three-and-a-half month hiatus. Where do we start? There's so much to discuss. When we shut down in November, prices were falling, sales were down, and inventory was high. There was lots of trepidation about the future of the Calgary housing market. Was there going to be a crash, or the usual spring price increases? Are you surprised by anything that's happening? Did you really expect the price increases...(read more)

Weekly Update Nov 8 - 14

2007-11-15T14:52:00Z

I'd first like to say that it's so nice to be able to log in and see the daily stats every day. Mike Fotiou is doing an excellent job at keeping us updated. I like his format and layout a lot better than the one I was using. Keep up the good work, Mike! The item that really jumps out on my weekly stats update today is the sales/new listings ratio for single family homes at 62%. That number was 36% last week. October, it was 43%. Some numbers that are not published, but interesting nevertheless:...(read more)

Great News! Daily Stats are Back!

2007-11-09T02:38:00Z

There must be something very special happening in order for me to post two topics on the same day. I am pleased(thrilled, actually) to announce that my colleague, Mike Fotiou, will be posting Daily Stats on his website. Mike says: Hello everyone! My name is Mike Fotiou with First Place Realty. While Bob is taking some well deserved rest this winter, you'll be able to view your favourite daily stats on my website at www.FindCalgary.ca I'll be updating the MLS stats daily as well as compiling...(read more)