NEWINFILLS.ca Developers Report - New Infills - Calgary Infills

NEWINFILLS.ca Developers Report

NI-Marketing-&-Sales
Our objective is simple: we’re here to ensure our clients and partners achieve – and exceed – their real estate development goals.
As leaders and specialists in Calgary’s competitive New Infill sector, we deliver the niche insight, strategic services, and exclusive edge crucial to your project’s success in emerging markets.

CONSULTING

Like building any home, a successful Real Estate Development begins with a strong foundation. By utilizing our consulting services, we help ensure that your risk is minimized and profitability is maximized.

  • Site Evaluation (Highest and Best Use)
  • Land Acquisition
  • Floor Plan Design Review
  • Exterior Elevation Design Review
  • Finishing Specifications and Selections Review
  • Selling Strategy (Pre-sale vs. Completion)

MARKETING

Great Marketing requires KNOWING who your audience is, how to best REACH them and how to effectively COMMUNICATE with them.

Our unique marketing approach is PROVEN to be the MOST effective marketing solution available in today’s infill markets.

Market Assessment & Approach

  • Demographic Analysis
  • Positioning Strategy
  • Marketing Campaign Plan

Targeted Marketing Solutions

  • NewInfills.ca (350-400 Users per Day)
  • Buyer Database Notifications
  • Online Advertising (Google/Bing/Social)
  • MLS (Multiple Listing Service/Realtor.ca)
  • Web Partners and Affiliates
  • Print Advertising Campaigns

Communication Tools  

  • Professional Photography & Graphic Design
  • Romantic Copywriting
  • Professionally Prepared Print Materials
  • Branded Project Signage
  • User-Friendly Web Interface and Design Palette

SALES

Salesmanship and product knowledge are essential in order to properly demonstrate value during the selling process.

As a prerequisite to joining the NewInfills sales team, all of our salespeople are professionally trained in New Home Sales and New Infill construction and development processes.

  • Sales Team with Seamless Support
  • Professional Product Demonstrations
  • Project-Specific Document Preparation
  • Experienced Contract Negotiations
  • Administrative Support

 

November 4, 2016
 
MARKET SNAPSHOT
 
As the weather cools and we begin to prepare for the Winter months ahead, October welcomed a burst of sales activity across all product types and price ranges. Through the first few weeks of the month we witnessed an explosion of activity, likely as a result of the new mortgage rules, as many buyers looked to capitalize on opportunities before the changes took effect on October 17th. We saw significant action in the single family and townhouse sectors, especially on inventory priced below the $500k mark, with a notable number of multiple offer situations early in the month.
 
With the new mortgage guidelines officially in place it is hard to determine exactly how much this will affect the market in the current climate, although, we anticipate that it may translate into slightly lower sales volumes over the next few months as buyers come to grips with their new budgetary limits.
 
As can be expected, unfavorable weather and holiday commitments generally lead to relatively slower activity throughout the Winter months. We predict that home shopping will take a back seat closer to the end of the month as the holiday season approaches and that sales activity will grow slightly sluggish until we enter the New Year.
 
OUR TAKE – NEW INFILL MARKET
 
Following the announcement of the new mortgage rules, October faced a busy month with healthy activity witnessed throughout most segments of the market. With the new mortgage guidelines officially in place as of October 17th, we have noted a slight decline in sales activity, however, it is tough to discern how much of this is directly related to new purchasing obstacles or if it’s the beginning of a shift in seasonal priorities, as is typical for the winter months.
 
The single family sectors saw 23 new infill sales in the month of October, the lowest figure posted since January of this year, yet similar to year-over-year numbers. Fewer sales in the lower price ranges coupled with two high-end sales in the communities of Britannia and Bel-Aire contributed to the average sale price peaking at over $1.2m – the highest average ever recorded for single family new infills. Low inventory levels continue to provide purchasers with fewer options while applying downward pressure to the months of inventory which is averaging slightly above 7 months across all price ranges.
 
October proved to be a very strong month for the new townhome sector with 8 sales recorded, doubling last month’s performance. Much of this action was seen in the $500k-$600k price range, likely attributed to price sensitive buyers looking to capitalize on their purchasing power prior to the mortgage rule changes. Welcome relief to sellers, inventory levels remain virtually unchanged for the fourth straight month, holding steady at 79 units and pushing months of inventory downwards to 10 months.
 
On the brink of Winter and the holiday season quickly approaching, we expect that the current market climate will cool with the weather, as is typical for this time of year. As oil prices remain depressed and new rules diminish purchasing power, we expect to see more buyers waiting to see what the future holds before making a move.
 
CALGARY MLS STATISTICS 
 

SOURCE: STATISTICAL INFORMATION PROVIDED BY THE CALGARY REAL ESTATE BOARD (CREB).
GEOGRAPHIC AREA: ALL PROPERTIES LOCATED WITHIN CALGARY CITY LIMITS.
BENCHMARK PRICE: PRICE OF THE TYPICAL HOME, BASED ON VALUE CONSUMERS ASSIGN TO VARIOUS ATTRIBUTES.
PROPERTY TYPES: INCLUDES BOTH SINGLE AND MULTI FAMILY HOMES.

NEW INFILL STATISTICS (SINGLE FAMILY)

REPORT NOTE: “NEW INFILLS” ARE DEFINED AS HOMES BUILT IN THE INNER-CITY THAT ARE 2014 AND NEWER
SOURCE:
STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA:
INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES:
INCLUDES ONLY SINGLE FAMILY HOMES. 

NEW INFILL ACTIVITY (SINGLE FAMILY)

REPORT NOTE: “NEW INFILLS” ARE DEFINED AS HOMES BUILT IN THE INNER-CITY THAT ARE 2014 AND NEWER
SOURCE:
STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA:
INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES:
INCLUDES ONLY SINGLE FAMILY HOMES.

NEW INFILL TOWNHOME ACTIVITY (MULTI FAMILY)

REPORT NOTE: NEW INFILL TOWNHOMES ARE DEFINED AS CONDOMINIUMIZED MULTI-PLEX UNITS (CONVENTIONAL AND BARE LAND), WITH MINIMUM 2 STOREYS, IN THE INNER-CITY THAT ARE 2014 OR NEWER.
SOURCE: STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA: INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES: INCLUDES ONLY MULTI FAMILY HOMES.

DOWNLOAD REPORT (PDF) CLICK HERE

December 6, 2016
 
MARKET SNAPSHOT
 
Although overall sales in November were down month over month and year over year, market conditions continue to vary substantially depending on property type, price, and location. Throughout the city, detached homes have a relatively balanced 2.9 months of supply, compared to semi-detached homes, townhouses, and apartments which are sitting at 5.0, 5.4, and 7.3 months respectively – firmly in buyer’s market territory.
 
Our team saw activity steadily decline throughout the month of November and we expect this to continue into December. Although there are still a few eager buyers in the market hoping to settle in to something before the Holidays, it is ordinary, at this time of year, for many to put their home shopping on hold and resume their searches in early January.
 
Looking ahead, it is normal to expect relatively sluggish activity levels in all areas of the market through December. We expect to see more new inventory come into the market in mid-January, with increased sales picking back up starting in February.
 
OUR TAKE – NEW INFILL MARKET
 
With the holidays on the horizon, our team saw activity levels gradually cool with the weather as sales dropped off towards the latter half of the month. As the season festivities approach, sales activity is expected to continue its decline with many buyers and sellers likely opting to hold off on making any decisions until after the new year.
 
New infill sales in November resembled similar figures to last month, with a total of 24 registered sales averaging a sale price of $1,027,000. New infills under $900k accounted for half of these sales, with no sales over $2.5m. Inventory levels climbed slightly to 173 homes, but remain low compared to historical averages. The shortage in supply is especially evident in product priced below $1.25m, where inventory has dropped significantly compared to earlier this year.
 
Despite the new mortgage rules officially in effect for the first full month, the new townhome sector surpassed expectations by posting 10 sales in November. Following a 6-month trend, all new townhome sales recorded were under $700k and inventory levels remain relatively unchanged at 81 units. Strong sales activity combined with stable inventory levels have reduced the average months of inventory to 8 months.
 
Now that Winter is upon us, sales activity is expected to remain sluggish through to end of December. With OPEC finally reaching a formal agreement in the latter part of 2016, Builders and Developers are cautiously optimistic that the New Year will breathe new life into Calgary’s economic future.
 
The NewInfills.ca / Urban Upgrade Real Estate team would like to extend a huge thank you to all of our clients who have made our success possible throughout 2016 and in years past. Best wishes for a wonderful holiday season and a happy new year!
 
CALGARY MLS STATISTICS
 

SOURCE: STATISTICAL INFORMATION PROVIDED BY THE CALGARY REAL ESTATE BOARD (CREB).
GEOGRAPHIC AREA: ALL PROPERTIES LOCATED WITHIN CALGARY CITY LIMITS.
BENCHMARK PRICE: PRICE OF THE TYPICAL HOME, BASED ON VALUE CONSUMERS ASSIGN TO VARIOUS ATTRIBUTES.
PROPERTY TYPES: INCLUDES BOTH SINGLE AND MULTI FAMILY HOMES.

NEW INFILL STATISTICS (SINGLE FAMILY)

REPORT NOTE: “NEW INFILLS” ARE DEFINED AS HOMES BUILT IN THE INNER-CITY THAT ARE 2014 AND NEWER
SOURCE:
STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA:
INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES:
INCLUDES ONLY SINGLE FAMILY HOMES. 

NEW INFILL ACTIVITY (SINGLE FAMILY)

REPORT NOTE: “NEW INFILLS” ARE DEFINED AS HOMES BUILT IN THE INNER-CITY THAT ARE 2014 AND NEWER
SOURCE:
STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA:
INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES:
INCLUDES ONLY SINGLE FAMILY HOMES.

NEW INFILL TOWNHOME ACTIVITY (MULTI FAMILY)

REPORT NOTE: NEW INFILL TOWNHOMES ARE DEFINED AS CONDOMINIUMIZED MULTI-PLEX UNITS (CONVENTIONAL AND BARE LAND), WITH MINIMUM 2 STOREYS, IN THE INNER-CITY THAT ARE 2014 OR NEWER.
SOURCE: STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA: INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES: INCLUDES ONLY MULTI FAMILY HOMES.

January 6, 2017
 
MARKET SNAPSHOT
 
2016 was an interesting year, with significant differences amongst the various markets. Although all categories saw prices soften throughout 2016, hardest hit were the condominium apartment and row markets. Single family detached and semi-detached homes were less affected overall, especially in the entry-level price points.
 
Notably improving across almost all price points throughout 2016, the new infill market has returned now to a balanced state across most segments. Despite starting the year with heavy over-supply, a near lack of new homes under construction allowed inventories to stabilize about halfway through 2016. Although stable, the market is still relatively price sensitive, with the strongest consumer demand for entry-level infills under $1,000,000, and oversized detached under $1,500,000. 
 
OUR TAKE – NEW INFILL MARKET
 
With the holiday season now behind us and everyone returning to routine, our team is expecting activity levels to steadily pick-up as we move through 2017. As is typical for the beginning of the New Year, inventory levels across all segments are low as most sellers generally opt to expire or terminate their listings either right before the holidays or at the year’s end.
 
Despite our expectations for a sluggish December, the single family new infill market proved rather resilient as it recorded 25 sales; numbers that closely resemble October and November and a 30% increase year-over-year.
 
Interesting to note, zero sales were recorded for homes priced under $700k while the luxury price points (above $2.5m) experienced 3 sales, the most activity witnessed all year. Lower activity in the affordable price ranges combined with notable high-ticket sales contributed to the average new infill sale price topping over $1.24m, the highest figure seen all year.
 
Following in similar fashion, the new townhome market posted 13 sales this month, officially matching June as one of the busiest months of the year. Apart from one, all sales occurred in price ranges below $600k with no sales registered above $700k.
 
Although inventory levels across both the single family and multi-family sectors have dropped considerably on the MLS system, in truth they have remained relatively the same compared to November. For example, of the 147 new infills that are currently listed on the MLS, there are 39 homes that have been terminated or expired of which, only 9 have been re-listed. This means 30 homes are yet to be re-listed, ultimately meaning that the actual inventory of new homes is 177, on par with last month’s inventory levels. The same is true for the new townhome market as 16 units are yet to be re-listed pushing the true inventory up to 76 units.
 
With increased hope on the horizon, most inner city builders are resuming their pursuit for land in preparation for livelier markets to come. Although inventory levels have shifted substantially over the past two years from heavy over-supply to relatively balanced conditions, sales pricing has remained relatively low. With relatively thin profit margins on most projects, many builders are still cautiously reviewing the feasibility of starting new projects in early 2017 and many are likely to postpone until 2018. We expect low inventory levels to remain through the early months of 2017, with an improved selection emerging later in the year, and throughout 2018.
 

CALGARY MLS STATISTICS

 MLS

SOURCE: STATISTICAL INFORMATION PROVIDED BY THE CALGARY REAL ESTATE BOARD (CREB).
GEOGRAPHIC AREA: ALL PROPERTIES LOCATED WITHIN CALGARY CITY LIMITS.
BENCHMARK PRICE: PRICE OF THE TYPICAL HOME, BASED ON VALUE CONSUMERS ASSIGN TO VARIOUS ATTRIBUTES.
PROPERTY TYPES: INCLUDES BOTH SINGLE AND MULTI FAMILY HOMES.

NEW INFILL STATISTICS (SINGLE FAMILY)

NI

REPORT NOTE: “NEW INFILLS” ARE DEFINED AS HOMES BUILT IN THE INNER-CITY THAT ARE 2014 AND NEWER
SOURCE:
STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA:
INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES:
INCLUDES ONLY SINGLE FAMILY HOMES. 

NEW INFILL ACTIVITY (SINGLE FAMILY)

SF

REPORT NOTE: “NEW INFILLS” ARE DEFINED AS HOMES BUILT IN THE INNER-CITY THAT ARE 2014 AND NEWER
SOURCE:
STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA:
INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES:
INCLUDES ONLY SINGLE FAMILY HOMES.

NEW INFILL TOWNHOME ACTIVITY (MULTI FAMILY)

MF

REPORT NOTE: NEW INFILL TOWNHOMES ARE DEFINED AS CONDOMINIUMIZED MULTI-PLEX UNITS (CONVENTIONAL AND BARE LAND), WITH MINIMUM 2 STOREYS, IN THE INNER-CITY THAT ARE 2014 OR NEWER.
SOURCE: STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA: INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES: INCLUDES ONLY MULTI FAMILY HOMES.

DOWNLOAD REPORT (PDF) CLICK HERE

February 7, 2017
 
MARKET SNAPSHOT
 
What a difference a year makes! The first month of 2017 marked improvements in all sectors, despite January typically being a relatively sluggish month for activity. With an overall drop in inventory levels by 18% compared to 2016, current numbers hint towards more balanced conditions in the upcoming months. It is important to remember however, that January 2016 was one of the worst markets we have seen in recent history – so although improved, we still aren’t exactly sitting in hot market territory.
 
Throughout the month of January, our team noticed a substantial increase in showing activity on our listings throughout most sectors, with a ton of activity in mid-January. This is likely due to growing optimism about 2017 and the belief by many that we may have hit the bottom in many sectors. Some of the best news from January is that we are finally seeing some much needed viewing activity in the apartment sector, indicating that the coming months may finally see some long awaited improvement.
 
With increased positivity slowly returning to the oil and gas industry, we are cautiously optimistic that the worst is behind us, and a stronger Calgary market is on the horizon. Mid-late January saw quite a few new listings hit the market, but we expect things to really take off as we head into February, which historically is when we start seeing ample new listings on the market and a greater selection of new properties as we head towards Spring.
 
OUR TAKE – NEW INFILL MARKET
 
With the first month of the new year officially behind us and buyers’ attention shifting back to the real estate market, the new infill segment faced a slow start to 2017 compared to other sectors, which saw notable improvement in year-over-year numbers. It is important to note, however, that January typically displays slower-than-normal action, and the new infill sector is expected to gain steady momentum as we move into February and inch closer towards the busy Spring season.
 
Welcome relief to builders and sellers alike, the trend of steadily decreasing inventory levels across most segments has shifted from heavy oversupply to more balanced numbers, hinting at better conditions to come in the approaching months. Interesting to note, inventory levels across both the single family and new townhome markets are down approximately 45% from levels seen exactly one year ago at the beginning of 2016.
 
Single family new infills registered 11 sales in January, down from 15 in January of last year, with over half of these sales occurring in price ranges below $1 million. Average months of inventory in the single-family segment across all price ranges sits at just over 13 months – while higher-end price points are seeing some sales activity, we continue to see product over $2 million sit longer with notably less action.
 
Following in a similar fashion, the new townhome market experienced a relatively quiet month with a total of 5 sales in January, all occurring under the $700k price point. Due to the relatively sluggish sales activity witnessed in January, the average months of inventory across all price ranges creeped above 10 months.
 
With the panic and doubt of 2016 behind us and optimism notably on the up-swing, we expect activity to considerably pick-up in the coming months as the Spring market fast approaches. Although low inventory levels in the new infill segment will provide limited options for diligent buyers in the short-term, the recent rise in land acquisition and building activity will slowly begin to translate into improved selection as the year progresses.
 

CALGARY MLS STATISTICS

 

SOURCE: STATISTICAL INFORMATION PROVIDED BY THE CALGARY REAL ESTATE BOARD (CREB).
GEOGRAPHIC AREA: ALL PROPERTIES LOCATED WITHIN CALGARY CITY LIMITS.
BENCHMARK PRICE: PRICE OF THE TYPICAL HOME, BASED ON VALUE CONSUMERS ASSIGN TO VARIOUS ATTRIBUTES.
PROPERTY TYPES: INCLUDES BOTH SINGLE AND MULTI FAMILY HOMES.

NEW INFILL STATISTICS (SINGLE FAMILY)

REPORT NOTE: “NEW INFILLS” ARE DEFINED AS HOMES BUILT IN THE INNER-CITY THAT ARE 2014 AND NEWER
SOURCE:
STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA:
INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES:
INCLUDES ONLY SINGLE FAMILY HOMES. 

NEW INFILL ACTIVITY (SINGLE FAMILY)

REPORT NOTE: “NEW INFILLS” ARE DEFINED AS HOMES BUILT IN THE INNER-CITY THAT ARE 2014 AND NEWER
SOURCE:
STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA:
INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES:
INCLUDES ONLY SINGLE FAMILY HOMES.

NEW INFILL TOWNHOME ACTIVITY (MULTI FAMILY)

Multi-Family---Calgary-New-Infills

REPORT NOTE: NEW INFILL TOWNHOMES ARE DEFINED AS CONDOMINIUMIZED MULTI-PLEX UNITS (CONVENTIONAL AND BARE LAND), WITH MINIMUM 2 STOREYS, IN THE INNER-CITY THAT ARE 2014 OR NEWER.
SOURCE: STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA: INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES: INCLUDES ONLY MULTI FAMILY HOMES.

DOWNLOAD REPORT (PDF) CLICK HERE

March 3, 2017
 
MARKET SNAPSHOT
 
Two months into the year, Calgary’s real estate market seems to be experiencing a noticeable shift in momentum, with a consistent rise in optimism and a slow and steady return to more balanced numbers across all sectors. February sales totalled 1,342 units, which is still 19% below historical averages, but an improvement over the past two years, hinting that worst is behind us and the Calgary market may finally see some much needed improvement.
 
Throughout the month of February, our team saw a surge in the market, with strong sales and plenty of showing activity on our listings throughout most sectors. With a limited number of new listings hitting the market in the past two months, inventory levels in most market segments remain low. The lack of selection is especially apparent in new homes priced under $850,000 where demand is high and options for buyers are few and far between.
 
One thing we can note for sure, only two months into the year, 2017 simply feels better than last year, and we are optimistic that this positivity will persist in the coming months. We anticipate more new listings will hit the market in the coming weeks, hopefully lending more options and a greater selection of properties as we head into warmer weather and the usual Spring Rush.
 
OUR TAKE – NEW INFILL MARKET
 
As we reach the tail end of the Winter months and move past what is historically the slowest season of the year, the new infill and new townhome sectors are steadily gaining momentum with increased sales and more action across the board. We are starting to see showing activity pick up as buyers resume their home searches and we suspect a handful of new listings will hit the market as the Spring market approaches.
 
Month-over-month, sales in the new infill sector climbed to 21 sales, almost doubling January’s numbers. Keeping with the trend seen throughout the past six months, a lack of new listings paired with a surge in sales has caused inventory levels to dip further to record low numbers. There are currently only 131 new homes for sale, less than half of the amount on the market exactly one year ago, leaving buyers with very little to choose from, especially in entry level price points where product is almost non-existent.
 
Following in similar fashion, new townhome inventory levels sit at 46 units, almost half as many as this time in 2016. Sales activity saw modest improvement with 7 sales, all of which occurred in price points under $800k with over half of these registering between the $500k-$600k price range. Absorption rates for both new infill and new townhome sectors slid to just over 6 months, meaning fewer options for buyers. This gap in the market will continue to provide favorable conditions for developers and sellers looking to liquidate their new(er) product in the coming months.
 
Although builders have resumed their search for land and many now have numerous projects underway, the lack of completed new homes is causing a fairly large gap in the market which may start to result in modest price improvements if conditions persist.
 
Overall, we anticipate the coming months will bring continued optimism yet few new options. For the time being, those looking to capitalize this Spring season will benefit from the notable lack of inventory as we approach the busiest months of the year.
 

CALGARY MLS STATISTICS

 

SOURCE: STATISTICAL INFORMATION PROVIDED BY THE CALGARY REAL ESTATE BOARD (CREB).
GEOGRAPHIC AREA: ALL PROPERTIES LOCATED WITHIN CALGARY CITY LIMITS.
BENCHMARK PRICE: PRICE OF THE TYPICAL HOME, BASED ON VALUE CONSUMERS ASSIGN TO VARIOUS ATTRIBUTES.
PROPERTY TYPES: INCLUDES BOTH SINGLE AND MULTI FAMILY HOMES.

NEW INFILL STATISTICS (SINGLE FAMILY)

REPORT NOTE: “NEW INFILLS” ARE DEFINED AS HOMES BUILT IN THE INNER-CITY THAT ARE 2014 AND NEWER
SOURCE:
STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA:
INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES:
INCLUDES ONLY SINGLE FAMILY HOMES. 

NEW INFILL ACTIVITY (SINGLE FAMILY)

REPORT NOTE: “NEW INFILLS” ARE DEFINED AS HOMES BUILT IN THE INNER-CITY THAT ARE 2014 AND NEWER
SOURCE:
STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA:
INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES:
INCLUDES ONLY SINGLE FAMILY HOMES.

NEW INFILL TOWNHOME ACTIVITY (MULTI FAMILY)

Multi-Family---Calgary-New-Infills

REPORT NOTE: NEW INFILL TOWNHOMES ARE DEFINED AS CONDOMINIUMIZED MULTI-PLEX UNITS (CONVENTIONAL AND BARE LAND), WITH MINIMUM 2 STOREYS, IN THE INNER-CITY THAT ARE 2014 OR NEWER.
SOURCE: STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA: INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES: INCLUDES ONLY MULTI FAMILY HOMES.

DOWNLOAD REPORT (PDF) CLICK HERE

Thomas Ferianec
Re/max House of Real Estate

April 7, 2017
 
MARKET SNAPSHOT
 
Now that the first quarter is officially behind us, we have firmly entered the busy Spring market! Our team experienced a significant increase in activity starting mid-February and it hasn’t slowed down since. March proved to be an extremely busy month, with a surprising number of multiple offer situations – in fact our team experienced multiple offers at least once a week throughout March and it looks like similar conditions may persist through April as well.
 
Demand is highest throughout inner city and NW communities for single family detached and semi-detached properties, most specifically in the entry-mid level price ranges, where inventory levels are dropping month over month. This is great news for sellers who have been considering listing their property but were worried about how long it may take to sell. Benchmark prices have started to rise in both of these single-family sectors over the past few months, and will continue to trend up as long as months of inventory remains low.
 
Although the apartment sector continues to struggle with high inventory levels, we are seeing an improvement in this market segment as well, with sales under $550,000 notably stronger this year than last. Appropriate pricing is especially important in the condo market, as buyers are very much value driven given the heavy supply.
 
One thing is clear in 2017 – the market is still quite price sensitive. At the moment, the majority of demand for single family homes is under $800,000, or under $550,000 for condos. Well-priced, well-located properties are moving very quickly, while overpriced inventory continues to sit for a more extended period of time.
 
Examining the first 3 months of 2017, the real estate market in Calgary has substantially improved compared to the past few years, but much of this is due to lack of supply in the detached and semi-detached markets. The rate of new listings to hit the market over the next 6 months will really influence how 2017 turns out – Q2 and Q3 typically represent about 60% of our annual sales so we still have many months of activity to look forward to!
 
OUR TAKE – NEW INFILL MARKET
 
Spring is in full swing and already activity in the new infill market has picked up across all segments.
 
As expected, the bulk of new infill sales, single family and townhome, continues to be in the affordable, entry-mid level price points with slow improvements emerging month over month in higher priced/ luxury inventories.
 
Single family new infill activity saw drastic improvement, doubling the number of sales seen last month, and rising over 35% compared to the same time last year.
 
Not surprisingly, inventory levels are down 17% to 121 units, posting a new low for new infill inventory in Calgary’s inner city communities. With single family inventory levels sitting at under three months, absorption levels are mirroring Calgary Area MLS sales which are trending towards a Seller’s market.
 
In similar fashion, new infill townhome sales also improved in March, posting almost double the sales witnessed in February of this year. Comparable sales activity has not been noted since December and June of last year.
 
Following the trend seen throughout the new infill market, inventory levels in the new townhome markets continue to decline to record lows with absorption rates also favouring a Seller’s Market.
 
With the busy Spring market on the horizon, we look forward to the coming months, as we expect they will be a true indicator of restored consumer confidence, and the official shifting of the tide.

 

CALGARY MLS STATISTICS

 

SOURCE: STATISTICAL INFORMATION PROVIDED BY THE CALGARY REAL ESTATE BOARD (CREB).
GEOGRAPHIC AREA: ALL PROPERTIES LOCATED WITHIN CALGARY CITY LIMITS.
BENCHMARK PRICE: PRICE OF THE TYPICAL HOME, BASED ON VALUE CONSUMERS ASSIGN TO VARIOUS ATTRIBUTES.
PROPERTY TYPES: INCLUDES BOTH SINGLE AND MULTI FAMILY HOMES.

NEW INFILL STATISTICS (SINGLE FAMILY)

REPORT NOTE: “NEW INFILLS” ARE DEFINED AS HOMES BUILT IN THE INNER-CITY THAT ARE 2014 AND NEWER
SOURCE:
STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA:
INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES:
INCLUDES ONLY SINGLE FAMILY HOMES. 

NEW INFILL ACTIVITY (SINGLE FAMILY)

REPORT NOTE: “NEW INFILLS” ARE DEFINED AS HOMES BUILT IN THE INNER-CITY THAT ARE 2014 AND NEWER
SOURCE:
STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA:
INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES:
INCLUDES ONLY SINGLE FAMILY HOMES.

NEW INFILL TOWNHOME ACTIVITY (MULTI FAMILY)

REPORT NOTE: NEW INFILL TOWNHOMES ARE DEFINED AS CONDOMINIUMIZED MULTI-PLEX UNITS (CONVENTIONAL AND BARE LAND), WITH MINIMUM 2 STOREYS, IN THE INNER-CITY THAT ARE 2014 OR NEWER.
SOURCE: STATISTICAL INFORMATION OBTAINED FROM MATRIX MLS SYSTEM.
GEOGRAPHIC AREA: INNER-CITY COMMUNITIES WITH NEW INFILL DEVELOPMENT.
PROPERTY TYPES: INCLUDES ONLY MULTI FAMILY HOMES.

DOWNLOAD REPORT (PDF) CLICK HERE

Thomas Ferianec
Re/max House of Real Estate