McKenzie Lake Real Estate

There has been a lot of activity in the Calgary market in the past 2 weeks.  Notice when you are driving how there are more sold and conditionally sold signs going up!  The office is buzzing with activity which is nice to see after our slow December.  Listings in Calgary have shrunk to under 6000 again down from 6300 just last week. 

Here is a recap of the McKenzie Lake market from the past 2 weeks!

Total Active Listings for McKenzie Lake is 65 including both single family houses and condos. 

Here is a breakdown of activity for January 23 - February 2

A Summary of Sold Listings McKenzie Lake January 23 - February 2

Single Family Sales Stats

McKenzie Lake Listings January 23 - February 2

For more information on McKenzie Lake or the Calgary Real Estate market please contact your McKenzie Lake Realtor, Lina Horner anytime at (403) 923-7237 or at homes@linahorner.com

Just a some quick notes of interest from the Calgary Real Estate Board 2009 Forecast conference that I attended this week. 

- Inventory for Calgary is expected to match the high inventory of 2008 however sales are expected to increase by 10% for single family homes

- The condo market has a more glum picture with inventory on the rise from 2008 and an expected 5% decrease in sales from 2008.  Please keep in mind that the target market of condos that is likely to be hit the hardest will be high rise and low rise condos due to the surplus of inventory from projects nearing completion in the downtown core. 

- Population growth of Calgary is to decrease from 2008’s increase of almost 23,000 to around 19,000 - 21,000.  Of those approximately 13,500 will be from migration to Calgary.

- Calgary’s unemployment rate ended in December at 3.8% and economists estimate it will rise to 4.5% in 2009 which translates to approximately 3,000 - 5,000 jobs lost in a workforce of approximately 700,000.  However, in contrast the number of people working in Calgary is expected to grow.  This is because when you combine migration to Calgary, jobs created, jobs lost the number of jobs in Calgary is actually expected to increase slightly.

- Another interesting note is that there is still expected to be a labour crunch in some industries.  Calgary has a very high labour participation rate meaning that there is a high percentage of the population that wants to or is part of the workforce.  When you combine a high participation rate with a low unemployment rate (Calgary still maintains one of the lowest in North America) then job growth becomes limited by population growth.

Now for your McKenzie Lake update . . .

The past week for McKenzie Lake has been a slow one with only one property that now has a pending sale, no sales and 8 new listings.  McKenzie Lake’s inventory has risen a total of 6 listings.

Total Active Listings for McKenzie Lake is 64 including both single family houses and condos. 

Here is a breakdown of activity for January 15 - January 23

**There were no sold listings between January 15 - January 23**

McKenzie Lake Listings December 16 - January 6

For more information on McKenzie Lake or the Calgary Real Estate market please contact your McKenzie Lake Realtor, Lina Horner anytime at (403) 923-7237 or at homes@linahorner.com

Well the number of listings has come up to 6009 in the past week for both condos and single family houses in Calgary.  This was expected as houses came off the market in December and people waited until the holiday season was over to re-list or list their properties.

The number of listings in McKenzie Lake has risen by 4 listings total and we have had a total of 3 sales in the past week.  2 Condos and 1 house sold and interestingly enough the house that did sell sold over list price!

Total Active Listings for McKenzie Lake is 58 including both single family houses and condos. 

Here is a breakdown of activity for January 6 - January 15

A Summary of Sold Listings McKenzie Lake January 6 - January 15

Single Family Sales Stats

Condo Sales Stats

McKenzie Lake Listings December 16 - January 6

For more information on McKenzie Lake or the Calgary Real Estate market please contact your McKenzie Lake Realtor, Lina Horner anytime at (403) 923-7237 or at homes@linahorner.com

Happy New Year and welcome to 2009!  I am lumping together all of the statistics over the holidays from December 16 - January 6.

As I mentioned in my previous post listing numbers were starting to come down the end of December and we are now at a total of 5,791 listings for both condo’s and houses for all of Calgary.  To put it in perspective in June of 2008 we were sitting around 10,800 listings and in November we were at 7,500 so we are slowly beginning to see inventory in Calgary come to more reasonable levels.  It will be interesting to see what happens over the next few weeks as the new year kicks in and people start moving in the real estate market so stay tuned on where listings start heading.

Now for McKenzie Lake in the past 3 weeks we have come down a total of 10 listings when taking into account sales, pending sales, expired listings and new listings.  There was some strong activity over the past 3 weeks with a total of 11% of all listings selling which when compared to 4% a month ago is a good gain and also it is above the Calgary total of 6% of listings to sell in the same time period.

Total Active Listings for McKenzie Lake is 54 including both single family houses and condos. 

Here is a breakdown of activity for December 16 - January 6

A Summary of Sold Listings McKenzie Lake December  16 - January 6

1 condo sold for $250,000 which was 96% of list price in 73 days. 

McKenzie Lake Listings December 16 - January 6

For more information on McKenzie Lake or the Calgary Real Estate market please contact your McKenzie Lake Realtor, Lina Horner anytime at (403) 923-7237 or at homes@linahorner.com

Well Christmas is almost here!  We are seeing a decrease of the number of listings in Calgary due to the time of year and people who have started to take listings off and entering the rental pool.  There is sure to be a surge of new listings back on the market in early January.

In McKenzie Lake we had one sale in the past week it was an interesting sale sold the first day that it was on the market.  It is a definite testament to pricing aggressively to move your property.  It was listed at $428,000 and sold for $400,000.  There are 2 pending sales this week.

Here is the weeks recap:

Total Listings for McKenzie Lake is 64 including both single family houses and condos. 

Here is a breakdown of activity for December 9 - 16

A Summary of Sold Listings McKenzie Lake December  9 - 16

McKenzie Lake Listings December 9 - 16

For more information on McKenzie Lake or the Calgary Real Estate market please contact your McKenzie Lake Realtor, Lina Horner anytime at (403) 923-7237 or at homes@linahorner.com

The big change this week over last is the high sale price was $600,000 from $390,000 the same time last week.  There were 3 listings sold versus 2 sold in the previous week.  The average days on market was steady at 70 days.  Sales/listings ratio for McKenzie Lake is 5% higher than the Calgary ratio of 2% of all listings selling in the past week.

Here is the weeks recap:

Total Listings for McKenzie Lake is 62 including both single family houses and condos. 

Here is a breakdown of activity for December 2 - 9

A Summary of Sold Listings McKenzie Lake December 2 - 9

McKenzie Lake Listings December 2 - 9

For more information on McKenzie Lake or the Calgary Real Estate market please contact your McKenzie Lake Realtor, Lina Horner anytime at (403) 923-7237 or at homes@linahorner.com

Here is your weekly update of what is happening in the McKenzie Lake housing market.

Total Listings for McKenzie Lake is 63 including both single family houses and condos. 

Here is a breakdown of activity for November 24 - December 2.

A Summary of Sold Listings McKenzie Lake November 24 - December 2

The number of listings in McKenzie Lake has been reduced by 7 listings from the same time last week due to both sales, pending sales and expired listings.  Our high sold price was dramatically lower but the pending sales are higher priced homes.  It is positive sign for McKenzie Lake that we have had 4 sales in the past 2 weeks with 2 pending sales. 

If you would like any further details on McKenzie Lake’s Housing Market please contact me anytime at (403) 923-7237 or homes@linahorner.com.  Thank you.

Just a quick update to let you know what has happened in this last week for McKenzie Lake.

Total Listings for McKenzie Lake is 71 including both single family houses and condos. 

Here is a breakdown of activity for November 17 - 24.

A Summary of Sold Listings McKenzie Lake November 17 - 24

To compare these solds to November 17 - 24 2007 there was one sold at $352,500, 98% of list price after 80 days on market.

If you would like any further details on McKenzie Lake’s Housing Market please contact me anytime at (403) 923-7237 or homes@linahorner.com.  Thank you.

I will give a quick update of McKenzie Lake’s real estate statistics from November 1st to November 19 so you have a quick snapshot of what is happening.

Please contact me at (403) 923-7237 or at homes@linahorner.com with any questions you have or if you are looking to buy or sell in McKenzie Lake.

Your McKenzie Lake Realtor,

Lina

Average days to sell a home in McKenzie Lake is 52 days with an approximate 96% sales to list price sale figure.

Condominiums

There were a total of 6 condos in McKenzie Lake for October with 3 new listings added.  No sales for condominiums.

Comparison to Calgary Market

For the comparison I will concentrate on 5 main points; sales/inventory, sales/new listings, average price, median price and days on market as Market indicators.  Real Estate is a localized market so these numbers will vary greatly from one neighborhood to the next.  Please take into account that average sales price can often be very skewed by large sales in the data therefore the median price is often considered a more accurate representation of what the average home is selling for in the neighborhood.

Let’s first look at Calgary in comparison to it neighbors in South East Calgary.

The totals for Calgary’s Southeast are as follows;

Sales = 17% of total inventory and 37% of new listings

Average Sales Price was $411,454 with a median sales price of $377,500 and average days on market at 50.

The totals for Calgary are as follows;

Sales = 15% of total inventory and 35% of total new listings

Average sales price was $449,100 with a median sales price of $390,000 and average days on market at 48.

Conclusion

When we look at the data for McKenzie Lake vs Calgary we discover that McKenzie Lake has a higher sales ratio for both the southeast and all of Calgary with days on market slightly higher.  McKenzie Lake has a lower average and median sales price than both Calgary and the south east Calgary quadrant.  The slightly higher days on market is likely the result of ineffective pricing strategies that end with price reductions and houses remaining on the market.  In addition McKenzie Lake is surrounded by new developments that enable people to get newer housing with a similar price tag.  If you are considering selling in a with these market conditions it is imperative that you implement a strong pricing strategy along with staging advice where required.   In a buyer’s market such as this there are two key points to remember it is a Beauty Contest and a Price War!  

If you would like any further information or a consult please contact me anytime at (403) 923-7237.  Thank you!