CALGARY REAL ESTATE BLOG

A deck is a valuable addition to any home, but it also requires regular maintenance to ensure maximum durability. Here are some tips to help you maintain your deck:

1. Clean your deck regularly: Sweep your deck regularly to remove dirt, debris, and leaves. Use a garden hose or pressure washer (low setting) to clean your deck annually. You can also use a deck cleaner to remove any stains or discolorations.

   

2. Inspect your deck: Inspect your deck regularly for any signs of damage, such as cracks, splinters, or rot. Replace any damaged or rotten boards to ensure the safety of your deck.

   

3. Seal or stain your deck: Apply a sealer or stain to protect your deck from moisture and UV rays. Choose a product that is specifically designed for your type of decking material.

   

4. Check the hardware: Check the hardware on your deck, such as screws and bolts, to ensure they are tight and secure. Replace any rusty or corroded hardware to prevent accidents.

   

5. Trim surrounding foliage: Trim any trees or bushes surrounding your deck to prevent debris from accumulating on your deck and to promote air circulation.

   

6. Move furniture and planters: Move any furniture or planters regularly to prevent moisture and debris from accumulating in one spot. Do not set planters directly onto a wooden deck, use plant stands, a trivet, even small rocks will do the trick to raise the planter off the surface of the deck.

   

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Great curb appeal will add value to your home, whether you are selling or not.  If the houses on the street appear well kept, property values will be better than in an unkempt neighbourhood.  When houses on your street sell for more money, the value of your home will increase. Keeping your house tidy on the outside will help theirs sell for more money. Ready to sell or not these are great tips to keep up the curb appeal, from budget friendly to splurges they will increase the value of your home, now and years to come.

Here are some tips to help you create curb appeal for your home:

1. Start with the landscaping: A well-manicured lawn, trimmed hedges, and colorful flowers can make a big difference in the appearance of your home. Consider hiring a landscaper to help design and maintain your yard. 

   

2. Clean and repair your driveway and/or walkways: Cracks and stains in your driveway and walkways can be an eyesore. Consider repairing or replacing them. At a minimum, make sure there are no weeds growing in the cracks.

   Fix driveway sags, especially if it affects the roof-line of the garage, or sunken below the garage level. The driveway is one of the first things a buyer sees and perceives as being a large expense that they don’t want to deal with. The entire driveway doesn’t necessarily have to be dug up, there are companies that will lift sagging or sinking concrete. Driveways can also be resurfaced.   

3. Front Door: First impressions are very important.

   

4. Front landing / Porch: Use artificial greenery to enhance the front yard. Artificial greenery can be a great way to create a low-maintenance and visually appealing landscape.

   Ensure that your front landing is not overly cluttered.  Tasteful potted planters, benches, a chair with a nice pillow can be used to stage your front landing, creating a welcome feeling. Clean. Clean. Clean.

5. Lighting and hardware: Upgrading your outdoor lighting fixtures can not only enhance the safety and security of your home but also add a stylish touch to your exterior. 

   Updated, clean and matching light fixtures help boost curb appeal day and night. Light fixtures and hardware can be painted for a quick, easy and inexpensive update. Upgrading your door handles, house numbers, and mailbox can give your home a fresh look and enhance its curb appeal. 

6. Windows: Clean windows inside and out.  Ensure that window sills are clean.  Although curtains are an interior item – they are seen from the exterior – make sure they are tidy and appropriate.  No flags or sheets for window coverings. Check that all screens are in good repair. 

   Window boxes filled with colorful flowers or greenery can add a charming touch to your home's exterior. Window boxes and shutters can add a punch of color and make windows appear larger. 

   If you have windows on your garage that are showing the inside clutter, use privacy peal and stick film to cover those windows. There are many great options to match the style of your home, if you can’t decide on a style go with a reflective one. 

7. Exterior: Pressure washing your home's exterior can remove dirt and grime, making it look clean and refreshed. 

   Ensure that paint is not pealing off anywhere – patch or repaint.  Stay neutral and within the expectations of the neighbourhood when choosing paint colors.  Repaint brick if it is looking outdated. Replace any warped vinyl siding – it is quite inexpensive to have a couple of pieces replaced.

8. Replacing your garage door is an investment that can enhance your home's curb appeal and increase its value. With the right design, materials, and installation, you can create a beautiful and functional garage door that complements your home's exterior. 

   If the door doesn't need to be replaced, clean, paint. Oil if it’s squeaky and make sure all garage door openers are in working order. If you have glass doors – add frost film or paint the interior side so that the items inside the garage are not visible from the street.  Match the style of the house/street to the style of the door.   

9. Fence: Paint if necessary. Clean and tidy is the theme. Replace any rotten boards, make sure the fence is not falling over. A front picket fence can add charm, as long as it fits with the style of the house. 

10. Roof: If the shingles are peeling up then it’s time to look into replacing them; this is a bigger ticket item but it will turn away buyers pretty quick if that’s the first thing they see. Replace damaged downspouts, paint or replace mismatching downspouts and eves trough.

11. House numbers. An easy way to add an updated look. Check out these customizable numbers on Amazon:

Remember, enhancing your home's curb appeal does not have to be a massive undertaking. By making small changes, you can create a welcoming and beautiful exterior for your home.

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Prices reach record high.

Calgary Real Estate Board: This month, persistent sellers’ market conditions placed further upward pressure on home prices. After four months of persistent gains, the total unadjusted benchmark price reached $550,800, nearly two per cent higher than last month and a new monthly record high for the city. “While sales activity is performing as expected, the steeper pullback in new listings has ensured that supply levels remain low,” said CREB® Chief Economist Ann-Marie Lurie. “The limited supply choice is causing more buyers to place offers above the list price, contributing to the stronger than expected gains in home prices.” In April, sales reached 2,690 units compared to the 3,133 new listings. With a salesto-new-listings ratio of 86 per cent, inventories declined by 34 per cent compared to last year and are over 45 per cent below long-term averages for April. While sales have eased by 21 per cent compared to last year, the steep decline in supply has caused the months of supply to ease to just over one month. This reflects tighter market conditions than earlier in the year and compared to conditions reported last April.

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CREB Report: The level of new listings in January fell to the lowest levels seen since the late 90s. While new listings fell in nearly every price range, the pace of decline was higher for lower-priced properties. At the same time, sales activity did slow compared to the high levels reported last year but remained consistent with long-term trends. However, there has been a shift in the composition of sales as detached homes only comprised 47 per cent of all sales. “Higher lending rates are causing many buyers to seek out lower-priced products in our market,” said CREB® Chief Economist Ann-Marie Lurie. “However, the higher rates are likely also preventing some move-up activity in the market impacting supply growth for lowerpriced homes. This is causing differing conditions in the housing market based on price range.” With 2,451 units available in inventory, levels remain 43 per cent lower than long-term trends for the month. While overall inventory levels are slightly lower than last January, there is significant variation by price range. Homes priced under $500,000 reported yearover-year inventory declines of nearly 30 per cent while inventory levels improved for homes prices above that level. Although conditions are not as tight as last year, lower supply levels are preventing a significant shift toward balanced conditions and prices did trend up slightly over last month breaking the seven consecutive month slide. As of January, the benchmark price reached $520,900, 5 per cent higher than last January, but still well below the May 2022 high of $546,000.

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Calgary Real Estate Reports "December sales eased, however, slowing sales over the second half of 2022 were not enough to offset earlier gains as sales reached a record high of 29,672 units in 2022.Over the past several months, the pullback in sales was also met with a significant pullback in new listings, causing further declines in inventory levels. As of December, there were 2,214 units available in Inventory, making it the lowest level of inventory reported for December in over a decade. “Housing market conditions have changed significantly throughout the year, as sales activity slowed following steep rate gains throughout the later part of the year,” said CREB® Chief Economist Ann-Marie Lurie. “However, Calgary continues to report activity that is better than levels seen before the pandemic and higher than long-term trends for the city. At the same time, we have faced persistently low inventory levels, which have prevented a more significant adjustment in home prices this year.” Benchmark prices eased to $518,800 in December, down nearly five percent from the peak price in May but almost eight percent higher than last December. While prices have trended down annually, they remain over 12 percent higher than last year’s levels. The housing market in 2022 generally outperformed expectations both in terms of sales and price growth." 

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Calgary Real Estate Board Report: Residential sales in the city slowed to 1,648 units, a year-over-year decline of 22 per cent, but 12 per cent above the 10-year average. The pullback in sales over the past six months was not enough to erase gains from earlier in the year as year-to-date sales remain nearly 10 per cent above last year’s record high. The year-to-date sales growth has been driven by a surge in both apartment condominium and row sales. “Easing sales have been driven mostly by declines in the detached sector of the market. Higher lending rates are impacting purchasers buying power and limited supply choice in the lower price ranges of the detached market is likely causing many purchasers to place buying decisions on hold.” A decline in sales was met with a pullback in new listings and inventories fell to the lowest level reported in November since 2005. The pullback in both sales and new listings kept the months of supply relatively tight at below two months. The tightest conditions are occurring in the lower-price ranges as supply growth has mostly been driven by gains in the upper end of the market. Despite the lower supply levels, prices have trended down from the peak reached in May of this year. Even with the adjustments that have occurred, November benchmark prices continue to remain nearly nine per cent higher than levels reported last year.  

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Calgary Real Estate Board reports: Sales remain stonger than pre-covid levels. October sales eased compared to last year’s levels, mostly due to slower activity in the detached sector. However, with 1,857 sales this month, levels are still stronger than long-term trends and activity reported prior to the pandemic. Year-to-date sales have reached 26,823 and with only two months to go, 2022 will likely post a record year in terms of sales. “Calgary hasn’t seen the same degree of pullback in housing sales like other parts of Canada, thanks to persistently strong demand for our higher density product,” said CREB® Chief Economist Ann-Marie Lurie. “While our city is not immune to the impact that inflation and higher rates are having, strong employment growth, positive migration flows and a stronger commodity market are helping offset some of that impact.” New listings also trended down this month causing the sales-to-new-listings ratio to rise to 85 per cent and inventories to trend down. Much of the inventory decline has been driven by product priced below $500,000. While conditions are not a tight as what was seen earlier in the year, with only two months of supply, conditions remain tighter than historical levels. We are also seeing divergent trends in the market with conditions continuing to favour the seller in the lower-price ranges and shifting to more balanced conditions in the upper-price ranges. As of October, prices have eased by four per cent relative to the highs reached in May. This is considered a relatively small adjustment when considering price movements in other large cities. It is also important to note that the October benchmark price is still nearly 10 per cent higher than levels reported last year.

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Calgary Board of Real Estate "City of Calgary, October 3, 2022 - Strong sales for condominium apartment and row properties was not enough to offset declines reported for other property types. This caused city sales to ease by nearly 12 per cent compared to last year. However, with 1,901 sales in September, activity is still far stronger than levels achieved prior to the pandemic and is well above long-term trends for September. Despite recent pullbacks in sales and thanks to strong levels earlier in the year, year-to-date sales remain 15 per cent higher than last year’s levels. “While demand is easing especially for higher priced detached and semi-detached product, purchasers are still active in the affordable segments of the market, cushioning much of the impact on sales,” said CREB® Chief Economist Ann-Marie Lurie. “At the same time, we are seeing new listings ease, preventing the market from becoming oversupplied and supporting more balanced conditions.” In September, new listings declined by ten per cent. With a sales-to-new-listings ratio of 72 per cent it was enough to prevent any gain in inventory levels, which declined over last month and were nearly 21 per cent lower than last year’s levels. The adjustments in both sales and supply levels have caused the months of supply to remain relatively low at less than three months. The shift to more balanced conditions is causing some adjustments to home prices. While prices have slid from the highs seen in May, as of September, benchmark prices remain 11 per cent higher than last year and six per cent higher than levels reported at the beginning of the year." 

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Supply levels ease with fewer new listings in August 

Calgary Real Estate Board: City of Calgary, August sales activity was comparable to the strong levels recorded last year and well above long-term trends for the month. While sales have remained relatively strong, there continues to be a shift towards more affordable options as the year-over-year pullback in detached sales was nearly matched by gains for multi-family product types. “While higher lending rates have slowed activity in the detached market, we are still seeing homebuyers shift to more affordable options which is keeping sales activity relatively strong,” said CREB® Chief Economist Ann-Marie Lurie. “This makes Calgary different than some of the larger cities in the country which have recorded significant pullbacks in sales.” At the same time, new listings continue to trend down, preventing any supply gains or a substantial shift in the months of supply. Despite year-over-year gains in new listings, the spread between new listings and sales this month narrowed compared to the past three months. This caused total inventory to trend down and prevented any significant shift in the months of supply. The months of supply in August remained at just above two months, not at tight as earlier in the year, but still below levels traditionally seen this time of year. For the third month in a row, benchmark prices eased declining to $531,800. While the reduction reflects shifting market conditions, it is important to note that previous gains are not lost, and prices remain over 11 per cent higher than last year.

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CREB: City of Calgary, August 2, 2022 - Significant slowdowns in the detached and semi-detached market were nearly offset by sales growth in the apartment and row sectors. This left July sales three per cent lower than levels recorded last year. While this is the second month where sales activity has slowed, total residential sales this month are still amongst the strongest levels recorded in our market. “Rising lending rates are causing shifts within the market and, as a result, new listings for higher-priced product are on the rise relative to sales activity,” said CREB® Chief Economist Ann-Marie Lurie. “Meanwhile, there continues to be a lack of supply for lower-priced detached and semi-detached product. This is driving consumers who are looking for affordable homes to purchase apartment- and row-style properties.” Residential new listings in the city declined compared to what was seen in 2021, but when considering the dynamics between price ranges, we are seeing a different trend play out. Listings for homes priced below $500,000 fell by 18 per cent, while levels rose by 20 per cent for homes priced above $500,000. This has left conditions to remain relatively tight in the lower-end of the market while conditions are shifting toward more balanced levels in the upper-end of the market. When considering the relationship between the supply and demand, the months of supply has continued to trend up from the exceptionally tight conditions seen earlier in the year. However, with just over two months of supply, the market remains far tighter than anything experienced throughout the recessionary period experienced prior to the pandemic. As expected, the benchmark price did see some slippage relative to levels seen earlier in the year and rising lending rates have cooled much of the bidding war activity that was driving significant gains earlier in the year. However, prices currently remain over 12 per cent higher than last year’s levels, still outpacing forecasted price growth for the year. “As we move forward, we do anticipate further rate gains will weigh on housing activity and prices, but not enough to completely offset the exceptionally strong gains recorded over the first half of the year,” said CREB® Chief Economist Ann-Marie Lurie.

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Market starts to shift as sales slow -

JUNE 2022 CREB City of Calgary real estate board:

Sales activity in June eased relative to the past several months and with 2,842 sales, levels declined by two per cent over last year’s record high. While sales activity has remained relatively strong for June levels, the decline was driven by a pullback in detached and semi-detached home sales. “As expected, higher interest rates are starting to have an impact on home sales. This is helping shift the market toward more balanced conditions and taking some of the pressure off prices,” said CREB® Chief Economist Ann-Marie Lurie. “While we are starting to see some transition, it is important to note that in Calgary year-todate sales are still at record levels and prices are still far above expectations for the year.” This pullback in sales was not met with the same level of pullback in new listings. This caused inventories to trend up over previous months. These shifts are supporting some easing from the exceptionally tight conditions as the months of supply remained just shy of two months. While two months is still considered low for our market, it is a significant change over the one month of supply recorded earlier in the year. After three months of gradual gains in the months of supply, prices eased slightly relative to last month. However, with a city-wide benchmark price of $543,900, levels are still over 13 per cent higher than last year. With further rate gains expected, we could continue to see slower sales activity and some monthly price growth slippage in the Calgary market in the coming months. However, thanks to renewed migration and job growth in a wide range of sectors, it is unlikely that we will see a full reversal of the price gains made so far this year.

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Market continues to favour the seller despite slowing sales 

May 2022 CREB City of Calgary real estate board:

For the second month in a row, sales activity trended down after alltime record high sales in March. While activity in the market slowed down in May, with 3,071 sales, levels are still slightly higher than last year’s record high and are far stronger than typical levels of activity recorded in May. “It’s not a surprise to see sales ease from the exceptionally strong levels seen earlier in the year. Many buyers were eager to get into the market ahead of the rate gains that we are now seeing,” said CREB® Chief Economist Ann-Marie Lurie. “While higher lending rates are weighing on sales activity, the market is still struggling with supply levels and rising prices which could also be contributing to slower sales, especially in the detached market. Nonetheless, if this shift continues, we could begin to see more balanced conditions in the market over the next several months, slowing the pace of price growth in the market.” Slower sales were met with a decline in new listings, but a strong pullback in sales was enough to cause inventories to trend up relative to levels seen over the past few months. While inventory remains well below historical norms, the monthly gains did take off some of the pressure in the market. However, with just under two months of supply, the market continues to favour the seller. Tight market conditions continue to contribute to further price gains in the market, but the pace of growth has eased.

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