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Calgary Real Estate and Coronavirus (COVID-19)

As your REALTOR®, I am actively monitoring news and updates on coronavirus (COVID-19) to best accommodate my clients, customers and business.

Under these current circumstances, it is more like business as UNusual. I, and my fellow REALTORS®, have never been obligated to put themselves or their clients or customers at risk and I can assure you that I will be thoughtful in how I approach each situation to ensure you, your family and I are safe and remain healthy. Don’t forget, I am always available for any questions or concerns, so don’t hesitate to reach out via email, phone or text.

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Calgary Market Insider March 2020

This month saw a double-digit gain in sales, but last February was one of the slowest levels of activity since the late ’90s.

With the extra day this February, monthly sales totaled 1,197 units.  A combination of these two factors resulted in a 23 per cent improvement over last year, but sales remain well below longer-term trends and consistent with the lower levels reported over the past five years.

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Sewer Lines & Your Responsibility

Many aging homes in Calgary have clay sewer lines that can be easily damaged by heavy machinery passing over a yard, ground settling/erosion, or from nearby tree roots. Calgary property owners are responsible for all costs associated with maintaining and repairing the sewer line from a homes plumbing system all the way to the property line.

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Calgary Market Insider February 2020

Housing market conditions continue to follow similar trends to last year, with gains in sales. At the same time, there have been further reductions in new listings, inventory and more declines in prices.

January sales activity was 863 units, nearly 8% higher than last year’s levels. While sales remained well below January activity recorded before 2014, they remain consistent with activity recorded over the past five years.

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Calgary 2020 Market Forecast

Since the oil price crash, Calgary has faced job losses, wage reductions and tightening national housing policy. These factors have all contributed to the slower sales environment, excess supply and citywide price adjustments of more than 10%.

However, as Calgary moves into the sixth year of this cycle, there are indications of adjustments to these conditions throughout the housing market.

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Calgary Market Insider January 2020

December sales improved to levels more consistent with activity recorded over the past five years. This follows weak sales activity last year.

A stronger second half in 2019 was enough to push annual sales up by 1%. “Price declines, lower mortgage rates and some modest improvements in full-time employment helped support some demand growth in the city. Reductions in supply are also contributing to the slow adjustment to more stable conditions in the housing market,” said CREB® chief economist Ann-Marie Lurie.

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Calgary Market Insider December 2019

Year-to-date residential sales in the city remain just above last year’s levels due to improvements in the attached sector so far this year.

However, November sales activity eased over last year’s levels, mostly due to pullbacks in the apartment sector.

Meanwhile, new listings eased enough relative to sales to cause inventories to ease and the amount of oversupply to come down slightly compared to last year’s levels.

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Calgary Market Insider November 2019

Sales activity in October improved by nearly 10 per cent compared to last year, driven mostly by improvements for apartment and attached product.

New listings also eased, which helped reduce inventory levels and the oversupply in the market. Despite the move to more balanced conditions, the market remains oversupplied and prices continue to remain below last year’s levels.

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Market Insider October 2019

For the third consecutive month, sales activity improved over last year’s figures, and year-over-year new listings and inventories eased. This trend will help support more stability in the housing market.

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Market Insider September 2019

Sales activity increase led by lower-priced homes

Increased sales and easing new listings reduced housing inventories in August. Sales were primarily driven by homes priced below $500,000.

Rising sales for homes priced under $500,000 offset sales declines in the higher price ranges. This caused August sales to improve by six per cent compared to last year.

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