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I have sold a property at 1327 1540 Sherwood BOULEVARD NW in Calgary

I have sold a property at 1327 1540 Sherwood BOULEVARD NW in Calgary. See details here

This unit needs some renovation. Close to major transit, shopping, banks. the bright open inviting living room with a 9ft Ceiling, open concept, the kitchen offers ample storage space, island with granite & breakfast bar. Two spacious bedrooms are on opposite sides of the unit perfect for privacy plus. The master bedroom has a walk-in closet with a 4-piece ensuite, a second large bedroom and a 4-piece bathroom. Splendid parks and walkways are just steps away from the complex.

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I have sold a property at 11953 Coventry Hills WAY NE in Calgary

I have sold a property at 11953 Coventry Hills WAY NE in Calgary. See details here

This gorgeous bilevel Coventry Hills home has 4 bedrooms and plenty of space for your family to make this yours! Upon entering you are immediately greeted by the grand but serene entry way with 10ft high ceilings and soft light that fills the space as you walk to the upper level. Upstairs you will find a warm and inviting open floor concept, with a stunning stone gas fireplace offering a slight dividing and defining feature from your kitchen and dining area to your living room. The kitchen is spacious, has tons of storage and beautiful oak cabinets. Laminate plank flooring is laid throughout as you settle into the main living space. Oversized windows line the north facing wall along with a patio entrance offering even more light to shine through and brighten your home throughout the day. The living room is spacious and inviting, perfect for year round entertainment whether for indoor outdoor summer gatherings or cozying up by the fire with your favourite family movie. There’s room for everyone to enjoy! The master bedroom is just off of the main living room and is generously sized with carpet flooring, a walk-in closet and a 4pc updated ensuite. Completing the upper level is another generously sized bedroom and a 4pc bathroom. The lower level has the perfect recreational space/flex room complete with another stone gas fireplace, a 4pc bathroom and 2 additional bedrooms with their own walk-in closets. And if any of this wasn’t enough, the backyard is huge! A gorgeous canvas to make into your own, adding a garden, building a hockey rink or setting up the perfect summer oasis for grilling and chilling! The property also has a large double attached front facing garage and parking pad. Coventry Hills is truly a fantastic family orientated neighbourhood with many amenities to keep you busy and at ease, offering you cinemas, parks, shopping centers, schools, easy access to main roads that can simplify your daily commute and various public transit access points. You won’t want to wait on this in this market, call and book your showing and get ready to call this one home!

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I have sold a property at 2201 181 Skyview Ranch MANOR NE in Calgary

I have sold a property at 2201 181 Skyview Ranch MANOR NE in Calgary. See details here

Welcome to Skyview Ranch, where luxury living meets affordability. This stunning 2 bedroom, 2 bathroom corner apartment is the perfect opportunity for investors seeking a cash flow-generating income property. As you step inside, you'll be greeted by a spacious and open floor plan, with over 933 sqft of living space. The modern and elegant design is highlighted by luxury vinyl flooring and stone countertops, adding a touch of sophistication to the space. The kitchen boasts stainless steel appliances and ample cabinet space, perfect for hosting dinner parties or cooking a delicious meal for yourself. The living room is bright and airy, with large windows that let in plenty of natural light. Both bedrooms are generously sized. The titled underground parking provides secure and convenient parking, especially during Calgary's cold winter months. Located in Skyview Ranch, this unit is in an ideal location for renters seeking a peaceful and family-friendly neighbourhood. With close proximity to parks, schools, and shopping, this unit has it all. Don't miss out on this incredible investment opportunity. Schedule a viewing today!

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I have sold a property at 629 Coral Springs BOULEVARD NE in Calgary

I have sold a property at 629 Coral Springs BOULEVARD NE in Calgary. See details here

5 BEDROOMS | MAIN FLOOR DEN | FINISHED BASEMENT | OVER 2,300 SQFT LIVING SPACE - Welcome home to Coral Springs, the only lake community in NE Calgary. This well laid out 5 bedroom, 3.5 bathroom home boasts all that you are looking for in your next home. Entering, you are welcomed to an open-to-above living area for entertaining. Separate from your family room and kitchen, this area is perfect for your dining room with the family and having guests over. The main floor also includes a den perfect for your home office. The kitchen and family room share a completely open floor plan to have everyone enjoy the space together. Upstairs offers 4 bedrooms in total, including a wonderfully sized primary suite with a full ensuite. The 3 other bedrooms are a wonderful size for children and other members of the family. The basement offers an additional bedroom, full bathroom, den, and recreation area to enjoy wonderful games with the family. Come and check out all this home has to offer and book your private viewing today!

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New property listed in Coral Springs, Calgary

I have listed a new property at 629 Coral Springs BOULEVARD NE in Calgary. See details here

5 BEDROOMS | MAIN FLOOR DEN | FINISHED BASEMENT | OVER 2,300 SQFT LIVING SPACE - Welcome home to Coral Springs, the only lake community in NE Calgary. This well laid out 5 bedroom, 3.5 bathroom home boasts all that you are looking for in your next home. Entering, you are welcomed to an open-to-above living area for entertaining. Separate from your family room and kitchen, this area is perfect for your dining room with the family and having guests over. The main floor also includes a den perfect for your home office. The kitchen and family room share a completely open floor plan to have everyone enjoy the space together. Upstairs offers 4 bedrooms in total, including a wonderfully sized primary suite with a full ensuite. The 3 other bedrooms are a wonderful size for children and other members of the family. The basement offers an additional bedroom, full bathroom, den, and recreation area to enjoy wonderful games with the family. Come and check out all this home has to offer and book your private viewing today!

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New property listed in Coral Springs, Calgary

I have listed a new property at 629 Coral Springs BOULEVARD NE in Calgary. See details here

Welcome to your dream home in Coral Springs, Calgary! This stunning single-family detached home boasts over 2,300 sqft of living space and is perfect for those seeking a spacious and elegant residence. As you enter, you'll be greeted by an open to above main floor living area that's sure to take your breath away. With plenty of natural light, this space is perfect for relaxing with family and friends or entertaining guests. The home features a total of 5 bedrooms and 3.5 bathrooms, providing ample space for families of all sizes. The primary suite is located upstairs and features a luxurious ensuite bathroom with a soaker tub and separate shower, as well as a walk-in closet. The two additional bedrooms upstairs are perfect for children or guests, while the two bedrooms downstairs offer plenty of privacy and space for a home office or gym. The main floor den is perfect for those who work from home, and the home also features a spacious and functional kitchen with plenty of counter space. With an open floor plan and high ceilings, this home is perfect for entertaining and making lasting memories with loved ones. But the real highlight of this home is its location in Coral Springs. With easy access to major transportation routes, schools, and shopping, this is the perfect place to call home. Whether you're a growing family looking to upgrade or an out-of-town buyer looking to migrate to Calgary, this home is sure to impress. Don't miss your chance to make this beautiful home yours!

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Navigating the Real Estate Drought: Exploring a Market with a 52% Drop in Listings and 26% Decrease in Sales.

It seems fitting to use the word “drought” when describing the real estate market in Calgary this past month. It seems the further we head into the summer months; our real estate market continues to get more and more competitive. And it doesn’t show signs of slowing down any time soon. But that might change!

How did we do this month compared to last, or even last year? Let’s take a deep dive into the numbers above and understand where we might be going as we head into the summer months. 

THE STATS

In April, our absorption rate increased by 10% from last month to the highest point so far this year, 81%. This means that for every 10 listings available on the market today, just over 8 of them would be sold.

The last time we hit this high was in February of 2022 at 86%.

But there was a cliff in 2022, which I’ll get into a little bit later.

Compared to last month, our number of listings is down 3% while the number of sales increased by 11%. This growing appetite for buyers in our market is something that was initially triggered last month and has continued through April.

Compared to last year, we are down a whopping 52% in listings from this same time while sales have only decreased 26%. Another indicator of a buyer’s appetite on our market remains strong.

Comparing from last year to now, for everyone listing that comes on for sale, there are 2 buyers ready to purchase it based on the above metrics.

Albeit it's not the insanity of 2021 that we exhibited with properties attracting 20 to 30 offers, however, it is still a very steady slow bleed of inventory.

And this slow bleed is the one that should be concerning to those wanting to buy in our real estate market.

As this trend continues, inventory will continue to decline leaving more and more buyers vying for the same property.

And this time, it will be out of necessity, not a crazed mindset to purchase because of excess cash in the hands of consumers.

The pricing for each segment has continued to see growth, except for the semi-detached segment, which saw a decline. The increases across the board have been modest month over month, but we are still very much a more expensive market than a year ago.

THE BREAKDOWN

Remember when I mentioned that cliff in 2022? Well, here is how it went down last year to jog your memory. In March, our ABS (absorption rate) was 88%. In April, that number tanked to 67%.

The reason for this big correction was higher interest rate announcements.

Well, those higher rates are now the norm.

There are more and more deals falling apart now due to issues with financing because of higher interest rates, harder qualification rates and criteria and more and more lenders shying away from taking on more mortgages.

BTW, you can tell a lender doesn’t want more mortgage business when they set their rates to levels that are way outside of the competitive market.

So, with these higher rates sticking around now, buyers are having trouble qualifying (but those that are prepared are still very active) and sellers are scared to come to the market if their intention is to find that next home. With higher interest rates and higher prices, they are deciding to stay put.

But every seller has a price in mind that they would like to see before listing their home for sale. As we continue to have higher and higher pricing, those that want to downsize might be seeing their price goal soon and decide to list.

And it’s funny, in real estate, as one goes, so do the neighbours.

We can expect to see a little bit of recovery with listing numbers as sale prices become more and more enticing for sellers that are able to take advantage.

When supply increases, hopefully, it can eat into the demand and stabilize pricing.

But only time will tell if we can recover some of the significant losses in our inventory.

If you are considering selling, it is still a very, very good time for you. Let’s discuss your options.

Buying a home is a bit tricky nowadays, but not impossible. We should discuss how you can position yourself so that you are able to have everything in order and act quickly so that you can take advantage of the market over those buyers that don’t have their financial house in order.

THANK YOU!

As always, I truly appreciate your time to review my breakdown of the market last month. I hope you find the pace of it easy and at the same time very informative for you. If there are any improvements you can see that I can make, I’d love to hear from you. Please feel free to reach out at any time.

Thank you again and have a wonderful month ahead.

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