Baby it's cold outside!

The winter weather finally decided to show up this week! After being spoiled with above average temperatures this fall, the snow has finally come to stay (at least for a while), and we welcome back the term "windchill" to our vocabulary. Highs in the minus 20's and windchills in the the minus 30s will keep people inside, at least for a little while. But then, after all, we are Southern Albertans, and when the temps creep up to minus 12, we will think "Hey, this is not so bad. Time for some fresh air!", and the sidewalks will be busy again, and we just carry on. Real estate wise, there was one house that sold this past week, for under the $100,000 mark. Not much going on for showings, which traditionally happens this time of year. With the holidays coming up, and the cold weather, not many people are prepared to make a move. This slow time usually goes until the middle to end of February, much of it weather dependant. Then again, now that I have said it, we may be busy with people making some New Year's resolutions about relocating. Vulcan is still an affordable place to buy property and to live. We have a very good hospital/healthcare system, recreational facilities, and located only one hour from larger city centres. The surrounding communities in the County have a lot to offer as well, including that small town community spirit that many folks from the city can only dream of. Plus, with the surrounding lakes, McGregor Lake, Little Bow, Travers, Twin Valley, and Badger Lake, the excuse of "there is nothing to do" is really not valid. With 2016 wrapping up, I wish everyone a very Merry Christmas, and best wishes for 2017!

Tough year for sales so far in Vulcan County

According to the statistics provided by the Calgary Real Estate Board (CREB), the year over year sales for Vulcan County are down by 37% so far in 2016. This is the third year in a row that the percentages are in the negative numbers. New listings are down by 27% compared to the previous year's numbers. There is just over 13 months of supply on the market, with average days on the market being 129. Yes, it is a challenging market for sellers. Some properties just are not getting any showings, or at least very little. Challenging and frustrating. Yet, this is a common theme throughout much of the province. Numbers are down, as people seem to be keeping their wallets in their pockets, waiting for the economy to improve.

August - the best month for sales so far in 2016

Gathering date from the land titles registry today, the data shows that once again, August has been the best month for single family residential sales within the Town of Vulcan. At the start of the month, I was concerned, but then interest picked up and 22% of the year's sales closed in August. And, there are going to be several more closings in September, so those numbers should be fairly close to the previous month's. As of today, our inventory for single family residences has crept over the 20 mark to 21, which is the highest that it has been since 2015. There is more selection for buyers, and it looks like some of those buyers are ready to make a decision. Let's see what the remainder of the month has in store...

What we have seen so far this year

The real estate market in Vulcan and area has seen weak market so far this year. The number of sales has decrease, along with the number of properties on the market. The story is similar in much of southern Alberta. According to the Calgary Real Estate Board, the Vulcan region has seen a decrease of 53% in the number of sales, as well as in the number of listings so far in 2016. The average days on market for a property is 147. Currently, we have three houses for sale under the $100,000 mark. In the earlier part of the year, there were a few new build house sales, which we have not seen for quite a while. Lately, though, there has not been anything happening with that part of the market either. Buyers are being selective, because they can in this market, and they most are willing to wait until the right property comes along, or at least they find the right price. Several sellers have had to reduce their list price in order to get some action on their properties.

Year to date statistics

We are just over the halfway point of 2016, so it's time to look at the statistics from the Calgary Real Estate Board (CREB) and compare this year to last year. According to CREB, in 2016 we have had 28 sales in the Vulcan region so far this year. At this time last year, we had 35. Last year at this time, there were 101 new listings, compared to this year when there have only been 70. For all of last year, the average days on market for a property was 125, while in 2016 the average days on market is 144 so far. Note that this is information from the CREB and does not include private sales, or sales registered through other real estate boards. I agree with these statistics. 2015 was a slower year for the local real estate market, and 2016 has been even slower so far. Our inventory of listings is down, but so are the amount of people looking to buy. It will be interesting to see how the last half of the year goes. I still think that we have not seen the bottom of the drop in the market, as there are still layoffs in the energy sector.

An Increase in Residential Sales for April

According to the stats from the Alberta Land Titles Registry, the Town of Vulcan has seen an increase in single family residential sales in the month of April. The first 1/4 of the year had seen very low numbers for sales. The numbers for April are a bit better, even though activity is still slower. The Town of Vulcan is up to 16 residential listings, as of today, which is up by 3 or 4 compared to last month. Perhaps we are just having a slower start to our spring sales, but at least we are getting a bit more inventory for buyers to choose from. It will be interesting to see how the summer market goes. We have several events taking place in the County this year, including Spock Days, Tinman Triathlon, Lomond's 100th Anniversary, Champion's 105th Anniversary, Vul-Con Convention, Show-n-Shines, and more. We even have CBC in town this week, filming for their Still Standing show. Let's see what happens!

Pricing your property to sell

When looking to sell your property, make sure to align it with the current local market conditions. Right now, the market is soft and it is the bargains that are being looked at. Pricing your property too high to "see how it goes", may end up with you missing potential buyers who were ready to buy, but your property was not priced to today's actual market. Those buyers will move on, while you still pay property taxes, utilities and upkeep. Make sure that you take those into account, along with your time, before you decide to "see how it goes".

Preparing your property to sell

When you are considering selling your property there are a few things to consider. The link to the video is part of this blog. This time of year though, in the winter, I have a couple more things to add: first of all make sure that your sidewalks are clear of snow, as it can be frustrating for potential buyers to have to trench through snow to get to the property. This is not the way to make a good first impression. Even if you property is vacant, make sure that you have made arrangements to get the snow cleared before any and all showings. Secondly, put a piece of tape over the switch for the furnace, and mark DO NOT TOUCH on it. I have had it happen on my own property where potential buyers were looking at the property, switching light switches off and on, when they accidentally switched the furnace switch off. As a result, days later, my pipes froze up because there was no heat. My property was vacant, so no one noticed that the house was cooling off. It was a costly lesson, but after dealing with burst pipes, this is one thing that I will always remember to do. Good luck!