Archive for the ‘West’ Category

Calgary’s Real Estate Market… What’s going on in early 2016?

Tuesday, January 26th, 2016

Calgary is going through some challenges these days and one of the most frequent and popular questions I’m confronted with is how this affects our real estate market?  Real estate is always a hot topic, and on a daily basis I am asked how home pricing and sales are affected by our current economy.  Of course, it is difficult to say where we are headed in the short term, but Calgary certainly has a particular way of getting through tougher times in the long term.

There’s no doubt that our number of sales are down from just over a year ago; in 2014 there were 25,543 sales, compared to 2015 where sales dropped 26.26% to 18,836.  However, the number of listings was also down year over year, with 2014 registering 36,168 listings, compared to 2015 with 33,874 listings, a 6.34% reduction.  Of course it makes sense that less listings does generally means fewer sales.

Overall, prices have reduced only 2.64% year over year, so it’s not nearly as bad as the media outlets like to report.  There may be some additional volatility to come from 2016, but it’s not all bad news.

There is some good news that comes from all of this!  If you are looking to upgrade your home or simply take advantage of some potential “good deals”, now is the perfect opportunity for a few reasons:

  1. Interest rates are still at an all-time low.  The Bank of Canada has kept the cost of borrowing money down so the lenders and banks are able to pass on the savings to you!  In fact, prime rate sits at an affordable 2.70%.
  2. Your next home might be on sale right now!  The luxury market has taken a larger price correction than other Calgary markets, so you can benefit from some great prices on your dream home.
  3. Buying in a down-market can be scary, but it does make financial sense if you can stomach it.  I can guarantee you that if you buy in the near future, you will not be paying top dollar on your home compared to more recent boom-years.   It’s true, there is potential that the real estate market could see further price correction, however there is comfort in knowing that you didn’t pay a premium price for your home to start with.
  4. The general trend for home pricing is always up, regardless of any economic downturns.  Buying real estate for the long haul will always net you a positive return over time.  Real Property can’t disappear like a stock or company, regardless of the state of economy.  Buying an investment with tangible land is the safest investment you can make. 
  5. A 2016 International Housing Affordability Survey conducted by Demographia, recently ranked Calgary as 239/367 international cities on the affordability index (367 being unaffordable, Hong Kong).  This study compares price of real estate to median household income.  On a global scale, Calgary is considered a relative bargain compared to other metropolitans.  This might not always be the case, so Calgary will likely be a better investment for long-term gain than other municipalities.

 

 

The New Haskayne Development West of Tuscany Calgary

Tuesday, March 10th, 2015

I just recently attended an information open house at the Lynx Ridge Golf Course Club House that described in detail the new Haskayne Development including the Area Structure Plan, the plans for the landscape, city transit plan, the construction of roughly 3400 residential homes/lots and some awesome sounding commercial additions, all with a wholesome influence.  For those of you who don’t know the location, this will be just south of 12 Mile Coulee Road, and west of the Stoney Trail, past Home Depot in Tuscany on Nosehill Drive.   This whole development will be brought to us by Brookfield and it sounds great!!   Good news for the residents of Tuscany, the commercial sector will bring in some great new stores and amenities that Tuscany really needs!

As described to me, the developer will be using a very natural theme to the landscape and try to work with the flora and fauna that already exists in the area and surrounding coulee.  This is very important to the wildlife, and it sounds like Brookfield is doing their best to respect Mother Nature.  There are plenty of plans for parks and green space but the best news yet is that it will connect Cochrane to Calgary with bike paths that already meander through Glenbow Ranch.  This means that Calgarian and Cochrane residents will be able to make even more of their weekend bike rides along the river!  It also connects Cochrane to inner-city and downtown Calgary for those of you who enjoy long bike rides to and from work.  What a win!!

The plans will commence construction in 5 years if all goes well.  I could go on and on from what I learned at this open house out of excitement, but for now I will update you with more information as provided by the developer and the City of Calgary.

Tessa Corley-Rae

Open House Sunday March 28, 2:00-4:00

Wednesday, March 24th, 2010

19_bowridge_drive_mls_hid581747_roomlivingroom42A MUST TO SEE!!!

Great Decor, Immaculate Condition, Fully Developed & Open Design Concept! Upgraded with rounded corners, knock down ceiling and 9′ ceilings on main level and spacious 2 storey entrance. HARDWOOD FLOORS & tons of windows with natural light pouring in.  Beautiful kitchen has upgraded HICKORY CABINETS, large island, walk-in pantry & sunny nook w/ patio door to deck. GAS FIREPLACE in great room. 3 good-sized bedrooms and a LARGE BONUS ROOM on upper level.  The spacious master bedroom has huge walk-in closet & beautiful, bright 4  piece ensuite with 6′ soaker tub & separate shower. The basement is freshly developed in a professional manner w/ rec room, office/den & a full 4-piece bathroom. The  landscaping is great for entertaining with a large deck & many perennials.  This is a BEAUTIFUL FAMILY HOME in picturesque community of Cochrane!

Come and see on Sunday, March 28th.  You won’t be di19_bowridge_drive_mls_hid581747_roommasterbedroom12sappointed.19_bowridge_drive_mls_hid581747_roomkitchen13

Your Home Is Not Selling?? Maybe try to freshen up…

Friday, February 12th, 2010

paintMarch 2, 2010
Jennifer Wilson-Speedy

YOURHOME.CA EDITOR

If only selling a home was as simple as putting up the “For Sale” sign. Instead, it’s an emotional process balled up with agonizing financial decisions and life changes that only get more stressful the longer the property’s on the market.

Sofie Allsopp helps Brits make over their homes to speed up the sale of stagnant properties in Unsellables UK ,an across-the-pond rethinking of the Canadian Unsellables series.

This season, Allsop says, brings “new people (and) some really great properties” – at least, once they’ve cleared up the filth, clutter and worn-out decor.

“I’m always amazed when people’s houses are dirty when they put it on the market.”

In addition to the general turnoff that is grime, clutter “makes a house look so much smaller,” she says, recalling an episode where the newlyweds’ house was piled so high with boxes “you could barely see the floor.”

These kinds of messes not only eat away at valuable floor and counter space but also hinder prospective buyers’ ability to envision their own belongings in the home, which is often a key step in their decision making.

So, if you’re preparing to sell, it’s worth the effort to pare down before the first showings, including stowing family photos and mementos. Allsop also recommends putting oversized or extra furniture into storage to help make rooms feel larger.

Plus, she notes, cutting down on clutter now means less packing when moving day comes.

Faded decor is another Unsellables no-no. Often in houses that have been lingering on the market, “everything just looks a bit tired and unloved,” says Allsop.

As a result, paint is “one of the most important things to do before you put in on the market,” she says, suggesting sellers opt for “pale but interesting” colours, such as muted greens and blues, to help create a fresh look without imposing a bold, and potentially intimidating, personality on the space.

Sellers must also consider their furniture placement. Paring down will help open up spaces, but pieces must also be arranged to emphasize the home’s flow, which means natural walking paths and doorways shouldn’t be blocked. Try to showcase the flexibility of the space too. For example, convey that the home office could also be a bedroom by adding a small bed.

To prevent your home from languishing on the market, Allsop says one of the most important steps is getting a real estate expert to help you set a realistic price. She says a lot of the time people list their homes for too much money – and it ends up sitting for months until they lower the price.

In addition to delays for the sellers, listings that sit on the market also lose appeal with prospective buyers.

“If a house has been on the market for a few months, people will keep seeing it in their (web) searches and it will start to feel stale,” she explains. “Price it for sale.”

And, she adds, don’t forget to give your home’s exterior a little TLC – she notes that will be the photo on your Internet listings.

“You have two seconds to impress before someone clicks on to the next house,” she says. “No one looks at a home with an overgrown yard and says, `This is the house for me.’ ”

Mowing the lawn, painting the front door, stowing the garbage bins and putting out some flowers “will instantly make the front of the house look smarter.”

November 2009 Statistics for Calgary Real Estate

Wednesday, December 2nd, 2009

Single Family

(Calgary Metro)

November 2009

November 2008

Month Change

Month End Inventory

2658

5083

-47.71%

New Listings Added

1365

1567

-12.89%

Sales

1095

670

63.43%

Ave Sale Price

464,444

435,471

6.65%

Median Price

408,000

387,300

5.34%

 

Condominium

(Calgary Metro)

November 2009

November 2008

Month Change

Month End Inventory

1434

2399

-40.23%

New Listings Added

705

741

-4.86%

Sales

504

284

77.46%

Ave Sale Price

294,264

285,820

2.95%

Median Price

264,900

251,800

5.20%

 

Aspen Woods

Calgary

November 2009

Single Family

November 2008

Single Family

Month Change

Single Family

November

2009

Condominiums

November 2008

Condominiums

Month Change

Condominiums

Month End Inventory

49

80

-38.75%

14

23

-39.13%

New Listings Added

16

20

-20%

2

14

-85.71%

Sales

11

3

72.73%

0

0

0

Ave Sale Price

975,987

1,819,000

-46.35%

0

0

0

Median Price

662,500

625,000

5.66%

0

0

0

 

Cougar Ridge

Calgary

November 2009

Single Family

November 2008

Single Family

Month Change

Single Family

November

2009

Condominiums

November 2008

Condominiums

Month Change

Condominiums

Month End Inventory

13

38

-65.78%

5

8

-37.5%

New Listings Added

9

14

-35.71%

2

2

0

Sales

13

7

53.85%

0

0

0

Ave Sale Price

512,223

583,428

-12.2%

0

0

0

Median Price

485,000

527,500

-8.06%

0

0

0

 

Springbank Hill

Calgary

November 2009

Single Family

November 2008

Single Family

Month Change

Single Family

November

2009

Condominiums

November 2008

Condominiums

Month Change

Condominiums

Month End Inventory

58

95

-38.95%

15

18

-16.67%

New Listings Added

18

20

-10.0%

7

5

28.57%

Sales

8

3

38.5%

6

0

600.0%

Ave Sale Price

570,437

560,333

1.77%

421,166

0

 

Median Price

525,000

550,000

-4.55%

279,000

0

 

 

West Springs

Calgary

November 2009

Single Family

November 2008

Single Family

Month Change

Single Family

November

2009

Condominiums

November 2008

Condominiums

Month Change

Condominiums

Month End Inventory

29

53

-45.28%

4

10

-60.0%

New Listings Added

11

15

-26.67%

4

5

-20.0%

Sales

11

8

27.27%

0

2

-200%

Ave Sale Price

524,536

606,125

-13.46%

0

362,500

 

Median Price

499,900

490,000

1.98%

0

345,000

 

 

Strathcona Park

Calgary

November 2009

Single Family

November 2008

Single Family

Month Change

Single Family

November

2009

Condominiums

November 2008

Condominiums

Month Change

Condominiums

Month End Inventory

12

33

-63.64%

2

5

-60.0%

New Listings Added

7

14

-50.0%

0

2

-200%

Sales

6

4

33.33%

3

0

300%

Ave Sale Price

504,166

505,600

-0.28%

334,166

0

 

Median Price

550,000

365,000

33.64%

335,000

0

 

 

Connaught

Calgary

November 2009

Single Family

November 2008

Single Family

Month Change

Single Family

November

2009

Condominiums

November 2008

Condominiums

Month Change

Condominiums

Month End Inventory

3

3

0%

99

188

-47.34%

New Listings Added

0

0

0

48

70

-31.43%

Sales

0

0

0

54

12

77.78%

Ave Sale Price

0

0

0

324,534

287,900

11.29%

Median Price

0

0

0

285,000

255,000

10.53%

 

Hillhurst

Calgary

November 2009

Single Family

November 2008

Single Family

Month Change

Single Family

November

2009

Condominiums

November 2008

Condominiums

Month Change

Condominiums

Month End Inventory

15

25

-40.05

13

22

-40.91%

New Listings Added

3

5

-40.0%

4

3

25.0%

Sales

3

3

0

6

0

600%

Ave Sale Price

720,833

1,000,000

-27.92%

265,666

0

 

Median Price

775,000

680,000

12.26%

220,000

0

 

 

Sunnyside

Calgary

November 2009

Single Family

November 2008

Single Family

Month Change

Single Family

November

2009

Condominiums

November 2008

Condominiums

Month Change

Condominiums

Month End Inventory

11

7

36.36%

17

24

-29.17%

New Listings Added

6

2

60.0%

4

7

-42.86%

Sales

4

0

400%

3

0

300%

Ave Sale Price

590,625

0

 

311,333

0

 

Median Price

455,000

0

 

300,000

0

 

 

Point McKay

Calgary

November

2009

Condominiums

November 2008

Condominiums

Month Change

Condominiums

Month End Inventory

12

19

-36.84%

New Listings Added

4

3

25.0%

Sales

1

4

-75.0%

Ave Sale Price

291,500

388,250

-24.92%

Median Price

291,500

348,000

-16.24%

 

The Calgary housing market is showing signs of a sustained recovery according to figures released by the Calgary Real Estate Board.

The number of single family homes sold in November 2009 in the city of Calgary were up 63% from the same time a year ago, while condominium sales saw an even steeper increase–up 77% from the same time last year.

“A healthy demand for homes combined with a steadily decreasing inventory is holding prices firm,” says Bonnie Wegerich, president of the Calgary Real Estate Board.

“Clearly low borrowing costs are helping to fuel this recovery,” says Wegerich. “Many buyers want to get in while mortgage rates remain at record lows. Better employment numbers and an improving economic outlook are giving the market an added boost.”

October 2009 Real Estate Stats – Calgary, Alberta

Sunday, November 1st, 2009

 

Single Family Homes
October 2009
September 2009
August 2009
July 2009
Median Price
410,000
399,900
400,000
390,000
Average Sale Price
462,465
459,085
446,413*
436,782
Number of New Listings
1,819
1,857
1,910
2,089
Number of Sales
1,285
1,257
1,277
1,585
The following is written and published by the Calgary Real Estate Board:

Calgary, November 2, 2009 – The Calgary housing market continued to rebound in October, according to figures released by the Calgary Real Estate Board (CREB®).

“Calgary’s housing market has clearly turned a corner,” says Bonnie Wegerich, president of CREB®. “We expect there to be a few bumps on this road to recovery but we believe the worst is over.  Home prices have held firm and edged upwards in some markets over the past months.  This has helped buoy up the confidence of both buyers and sellers.”

(more…)

September 2009 Real Estate Stats – Calgary, Alberta

Thursday, October 1st, 2009
Single Family Homes
September 2009
August 2009
July 2009
June 2009
Median Price
399,900
400,000
390,000
399,000
Average Sale Price
459,085
446,413*
436,782
447,142
Number of New Listings
1,857
1,910
2,089
2,244
Number of Sales
1,257
1,277
1,585
1,837