It is just after the Easter holiday. Most folks with children will be returning to normal routines after the spring school breaks. There’s a touch of snow on the ground, but it should be gone in a couple of days, and with spring comes our seasonally busiest time of the year in Calgary’s real estate market.
On Saturday I was showing a client homes in NW Calgary. Of the 8 we wished to view, 4 were under contract. Price range $400,000 – $440,000. As sellers now most often keep their listings active during the condition period, there is lag time before the status is posted on a property. Very few conditionally sold (CS) signs are now posted so we most often only see the property Active and then Sold when looking at the sign in the front yard. A Realtor can determine through their online systems the actual status of the property in question. Has this aspect changed part of your perception of the market? I always want my clients to have the best available information to help them make informed decisions.
I watch numbers such as rates of new listings (which are now lower than last year for the recent few weeks), sales to list ratios, list price to sale price ratios, and some other interesting statistics / market trends. There’s a whole lot more to talk about than the average price posted on the evening news. If you want to chat about your plans I’m happy to share my opinion. It does really matter on location, condition, property type, price range and who you engage to help you with the process. Homeowners and investors make different choices. We all need a home and need to live somewhere. Whether renting or buying, do your math and I’m here if you have any questions.
Here are some interesting tidbits that could save you some money if you are planning a purchase this spring.
On July 1 the land title fees are increasing as part of the new Alberta budget. Close on your home before June 15 to ensure your registration avoid the July 1 fee increase. It will be the registration date, not your closing date, which will determine the fee you pay so closing by mid-June provides roughly 2 weeks for the registration of the property to transfer.
CMHC is increasing mortgage insurance fees for those with less than a 10% down payment effective June 1. For the average Canadian homeowner the higher premium will result in an increase of approximately $5 to their monthly mortgage payment. You can avoid the premium increase by getting your pre-approval in place before the deadline.
For all your real estate needs or questions I’m here to help. Please contact me.
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