Typical January for Calgary real estate

The housing market pointing towards price stability

Calgary, February 1, 2012 – Home sales in the City of Calgary are off to a slow start as buyers show continuing caution, according to figures released today by CREB®.

“Overall, the market is behaving as expected for the winter season,” says Bob Jablonski, president of CREB®.

The year-over-year volume of residential sales in the City of Calgary dropped, but the inventory of available homes declined even faster in January 2012.

The City of Calgary residential market recorded 1,078 sales in January, nearly one per cent below the same month in 2011. This is in part related to the drop in new listings, which declined by 8 per cent over January 2011, causing inventory levels to continue to contract over 2011.

“A lower number of sales is not uncommon for the month of January,” says Jablonski. “The number of sales is offset by the number of listings, ultimately pushing the housing market towards a balanced market territory.”

The single-family market recorded a one-per-cent drop in sales over last year levels, while the condominium market recorded a one-per-cent gain.  However, the decline in new listings in the single-family market was much higher than the condominium market, with a year-over-year decline of 11 per cent and 6 per cent, respectively. 

“As presented in our housing forecast report, a slow start to the year is anticipated, as consumers continue to be cautiously optimistic regarding purchasing and/or listing their home,” says Jablonski.

The average price of single-family homes in January 2012 was $438,683, a 3-per-cent drop over last year, and over December 2011.  Meanwhile, median prices in the single-family market remain relatively stable over last month at $395,000, while posting a 1-per-cent gain over the previous year. 

“The price changes are related to the composition of what was sold.  The rise in the median price was likely due to the increase in the number of homes sold in the $450,000-$549,999 category, as this category recorded a significant jump in activity in January.  The decline in average price is due to the rise in sales in the under-$300,000 category, as well as the decline in the number of homes sold in the upper-price ranges,” Jablonski explains. 

The condominium market continues to favor the buyer; however, this market is trending towards balance.  The average and median price of condominiums for the month of January 2012 were $268,526 and $245,000, respectively.  This corresponds to a 7-per-cent decline in average prices and a 4-per-cent decline in median prices.

“Last January, there was a significant jump in sales in both the $600,000+ price range and the under-$200,000 price range in condominiums.   For January 2012, while sales under $200,000 remain strong, there has been an increase in activity in the $200,000-$299,999 price range, mostly at the expense of the condominiums priced above $400,000. This explains the significant decline in condominium prices,” Jablonski concludes.

Please note! CREB® will change the way it reports statistics with the February 6 release of the first MLS® Home Price Index (HPI). The HPI, years in development, provides a more accurate picture of the real estate market and how prices are affected by market factors. Average and median prices often misrepresent true price trends because they are affected by factors such as the change in the mix of homes sold, and the number of sales in different price categories.  

The MLS® HPI was developed by the Canadian Real Estate Association (CREA) in partnership with local boards from Calgary, Montreal, Toronto and Vancouver.  Compared to all other Canadian home price measures, the MLS® HPI identifies turning points sooner, is the most current, and is the most detailed and accurate gauge for Canadian home prices.

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View the full listing details including pictures, Google Map information and more! MLS® C3506392

Updated Acadia Bungalow with Garage
3 bedroom bungalow in the heart of Acadia with refinished oak floors, new bathroom & soaker tub, updated windows, furnace and a whole lot more! Single detached garage and a great yard! Close to schools, shopping and transportation! Call today to be the first to view this lovely home. View all Calgary Real Estate Board MLS® listings for sale in Acadia.

Easily create and save customized searches of the Calgary Real Estate Board MLS® by neighbourhood, MLS® Number, postal code, city or Google Maps.

Looking for the newest MLS® listings that Calgary REALTORS® have listed for sale on the Calgary Real Estate Board MLS® System? Here are easy links to view 7 days of “Just Listed” Single Family Homes, 7 days of “Just Listed” Condominiums and All New MLS® Listings (Houses & Condos) from the past 24 hours.

Sign up for a free Calgary Real Estate Market Report at http://www.mikolajow.com/free-calgary-market-report.php Every month you will receive a customized report with a 12 month summary showing average and median prices of active and sold Calgary real estate listings (with sold prices) in the neighbourhoods of your choosing with their locations displayed in Google Maps.

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In Calgary, a real property report with City of Calgary compliance is an important document that is generally required to be supplied by the seller of a house and some types of condos before title transfer (and payment) takes place.

A real property report is a survey of the land that shows improvements (all buildings, fences, patios etc) as well as boundaries and compliance with municipal requirements.

Once completed by an Alberta Land Surveyor, the real property report must be reviewed and endorsed by the municipality.

Sellers are encouraged to have one done as early as possible so that they have the opportunity to remedy any problems that may arise from the report. If, for example, a fence is found to be in the wrong location it is often easier and less expensive to move the fence that apply and pay for an encroachment agreement.

How much does a real property report cost?

Obviously prices vary, but a real property report in Calgary costs approximately $550 and takes about 2 weeks to complete.

Once in your hands, you must get the blue stamp! For 2012, the City of Calgary charges $143 for a compliance stamp (it was $101 in 2011). Most survey companies will get the compliance for you (and charge you a courier fee) or you can visit the City of Calgary Development and Building unit on the 3rd floor at City Hall and have it done in person.

For more information, check out this brochure from the Alberta Land Surveyors’ Association.

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CREN® is published by and distrbuted weekly with the Calgary Herald! It is available for pick-up in over 1250 locations through Calgary and the surrounding communities – at Co-op, Safeway and Sobey’s grocery stores, financial institutes, LRT stations, restaurants, hotels, real estate offices, and many other locations.

Buying a home may be the largest and most complex financial transaction you ever undertake. If you’re ready to buy a home, wouldn’t you prefer to work with the most qualified real estate professional you can find? Jeff Mikolajow is an Accredited Buyer’s Representative.

In this issue, our advertisement features the following properties:

Chinook Park
8235 10 Street SW $559,900
• Great inner-city location. Quick access to transportation, amenities, beautiful Heritage Park, Glenmore Park pathways and a lot more. Beautifully maintained with SUBSTANTIAL upgrades. FABULOUS kitchen with large island, cherry raised panel cabinets and beautiful appliances which include a gas stove, BOSCH dishwasher. MAJOR renovations enhance this lovely open main floor design with knock down ceilings in the huge living room, dining room and kitchen. Enjoy the natural light from the kitchden and throughout the main floor. There is hardwood & tiles on main. Built in Panasonic TV in family room will stay. High efficiency Amana furnace. LOVELY BIG West PRIVAVE, MATURE BACK YARD with circular brick patio! Here is a great opportunity to live in and enjoy Chinook Park. Write your offer now and move in to one of Calgary’s most beautiful mature communities. Take advantage of the low mortgage interest rates!
• MLS® C3501536

Evergreen Walkout Adult Villa
14 Evercreek Bluffs Place SW $420,000
• VILLAS OF EVERCREEK BLUFFS – Lovely walkout villa – BUNGALOW STYLE with high ceilings upstairs and down. Fully developed walkout basement! Fabulous location with all amenities close and easy access to major transportation. Nice balcony off living room. Good sized master with 4-piece ensuite bath. Open kithen, dining/flex room and 2-piece bathroom. WALKOUT lower level with covered concrete patio has bright bedroom with big windows and big ensuite 4-piece bathroom and walk-in closet, family room and big adjoining games/hobby room. Loads of space in this home, making it easy to enjoy your hobbies, guests and tons of room. Pride of ownership prevails! Exceptional maintenance in beautiful, friendly complex. Independent living with reasonable costs associated to maintenance. CLOSE TO FISH CREEK PARK WITH BEAUIFUL DRIVE TO ACCESS! YOU WILL LOVE IT – FABULOUS LIVING!! SEE TODAY AND WRITE YOUR OFFER!
• MLS® C3492948

McKenzie Towne
146 Elgin Way SE $405,000
• Huge Lot! Super location! Lovely big fenced yard with double detached garage and RV parking. Enjoy the children, gardening or whatever you like with one of McKenzie Towne’s bigger lots! Front verandah. High ceilings enhance living with spacious grandeur. Living room has gas fireplace, bonus room/den, Kitchen with great eating area and breakfast bar/bar stools included. View of spacious yard, 2 piece bath, laundry on main. Access to laundry/mud room from deck. Also door to deck from kitchen/eating area. Master bedroom to enjoy with sitting area and fireplace has 4-piece ensuite and walk-in closet. Two other bedrooms and full bath up. Brand new carpeting throughout main and upstairs. Efficiently developed Basement with 4th bedroom, family/games room, 3-piece bath and lots of storage. Very special home with tons of space both indoors and outside. You will love it! Come see exactly what this home has to offer. Call us today!!
• MLS® C3499898

Copperfield
190 Copperfield Heights SE $360,000
• Bright and colourful 3 bedroom 2-storey on extra deep lot in Copperfield! This open layout Jayman built Matrix has a large master bedroom complete with walk in closet and 4 piece bathroom. The kitchen has a large island with raised eating bar and room for a few stools – great for entertaining! The nook overlooks the HUGE back yard and provides easy access to the deck for your BBQ (there is a natural gas connection) gatherings! The living room features a gas fireplace with tile surround and wood mantle. Main floor 2 piece bath. The basement is developed into a large rec room (carpeting is not installed) and has 2 large windows as well as a 3 piece bathroom. The oversized double garage is 26′ wide x 24′ and because the lot is 125′ long, there is still a lot of landscaped yard to enjoy! Starbucks, Shoppers Drug Mart and MORE are all a very quick walk away – playgrounds, too! A great home for your family! Call today to arrange a showing!
• MLS® C3504204

Deer Ridge
587 Deerpath Court SE $338,000
• Located at the entrance to a cul-de-sac across from a playground, this clean and bright bi-level is ready to move into! The kitchen features a raised granite eating bar that opens to the living room. Plenty of cabinet space and a full size pantry. Both bathrooms updated with Toto low flush toilets. Downstairs, a cozy gas stove helps warm the family room. There is a large computer room, a bedroom and 3 piece bath. Covered & screened patio lets you enjoy late nights outdoors without the mosquitos and has a natural gas line for your BBQ. Single 14×22 garage. Sunny, west facing back yard is private and there is room to play and for gardens. Lilac trees in the front and back yard! Deer Ridge has easy access to Deerfoot Trail, Anderson and Macleod Trail. Walk or bike to Fish Creek Park and Sikome Lake! Deer Valley Market Place is being extensively renovated – Enjoy a coffee at the new Starbucks! Call to book a showing today!
• MLS® C3505391

Royal Oak
21 Royal Crest View NW $329,900
• Two storey condo attached with double attached garage! Great location! Neutral colours and efficient floor plan. Entrance has high ceilings and is very spacious. Kitchen and eating nook with island overlooking lovely living/great room with gas fireplace is very nice and open. 2-piece bath on main with laundry facilities as well. Lots of windows allow tons of natural light. Upstairs has master bedroom with 4-piece ensuite bath and two other bedrooms and another 4-piece bathroom. Basement rough-in plumbing, great big windows and loads of room for future development. Public transportation close. Quick access to amenities and everything. Lovely complex! PETS allowed with board approval. YOUR OWN DOUBLE ATTACHED GARAGE AT THIS PRICE!! SUPER LIVING SPACE! Seller says sell now!! Take advantage of low interest rates and buy this now!!
• MLS® C3505987

Shawnee Slopes
4206 14645 6 Street SW $299,900
• Lovely big condo with covered balcony having access from two bedrooms and living room. Amazing value in this large beautiful meticulously maintained two bedroom home with very spacious foyer. Master ensuite has walk-in closet, 3-piece (double shower with glass doors), bathroom with linen closet & medicine cabinet and lots of room for your bedroom suite. Walk out to relax on your private balcony. Second bedroom also has walk out to balcony and is close to the 4-piece bathroom. Living room spacious and features gas fireplace and is adjacent to dining. Roomy Kitchen is open, overlooking the living area which allows you to enjoy your guests while preparing meals. Great appliances include side by side fridge, built-in microwave, stove and Bosch dishwasher. Den adds to fantastic usable space. Laundry room with lots of storage. Many stylish french doors adorn this condo. Vac rough-in. Guest suite and amenities room for your enjoyment!! TWO TITLED PARKING STALLS INCLUDED!!
• MLS® C3503802

Calgary Real Estate News – January 27, 2012

Go to Calgary Real Estate Blog

View the full listing details including pictures, Google Map information and more! MLS® C3505987

Royal View Estates! 3 Bedroom Condo with Double Attached Garage!
Two storey condo attached with double attached garage! Great location! Neutral colours and efficient floor plan. Entrance has high ceilings and is very spacious. Kitchen and eating nook with island overlooking lovely living/great room with gas fireplace is very nice and open. 2-piece bath on main with laundry facilities as well. Lots of windows allow tons of natural light. Upstairs has master bedroom with 4-piece ensuite bath and two other bedrooms and another 4-piece bathroom. Basement rough-in plumbing, great big windows and loads of room for future development. Public transportation close. Quick access to amenities and everything. Lovely complex! PETS allowed with board approval. YOUR OWN DOUBLE ATTACHED GARAGE AT THIS PRICE!! SUPER LIVING SPACE! Seller says sell now!! Take advantage of low interest rates and buy this now!! View all Calgary Real Estate Board MLS® listings for sale in Royal Oak.

Easily create and save customized searches of the Calgary Real Estate Board MLS® by neighbourhood, MLS® Number, postal code, city or Google Maps.

Looking for the newest MLS® listings that Calgary REALTORS® have listed for sale on the Calgary Real Estate Board MLS® System? Here are easy links to view 7 days of “Just Listed” Single Family Homes, 7 days of “Just Listed” Condominiums and All New MLS® Listings (Houses & Condos) from the past 24 hours.

Sign up for a free Calgary Real Estate Market Report at http://www.mikolajow.com/free-calgary-market-report.php Every month you will receive a customized report with a 12 month summary showing average and median prices of active and sold Calgary real estate listings (with sold prices) in the neighbourhoods of your choosing with their locations displayed in Google Maps.

Go to Calgary Real Estate Blog

View the full listing details including pictures, Google Map information and more! MLS® C3505987

Royal View Estates! 3 Bedroom Condo with Double Attached Garage!
Two storey condo attached with double attached garage! Great location! Neutral colours and efficient floor plan. Entrance has high ceilings and is very spacious. Kitchen and eating nook with island overlooking lovely living/great room with gas fireplace is very nice and open. 2-piece bath on main with laundry facilities as well. Lots of windows allow tons of natural light. Upstairs has master bedroom with 4-piece ensuite bath and two other bedrooms and another 4-piece bathroom. Basement rough-in plumbing, great big windows and loads of room for future development. Public transportation close. Quick access to amenities and everything. Lovely complex! PETS allowed with board approval. YOUR OWN DOUBLE ATTACHED GARAGE AT THIS PRICE!! SUPER LIVING SPACE! Seller says sell now!! Take advantage of low interest rates and buy this now!! View all Calgary Real Estate Board MLS® listings for sale in Royal Oak.

Easily create and save customized searches of the Calgary Real Estate Board MLS® by neighbourhood, MLS® Number, postal code, city or Google Maps.

Looking for the newest MLS® listings that Calgary REALTORS® have listed for sale on the Calgary Real Estate Board MLS® System? Here are easy links to view 7 days of “Just Listed” Single Family Homes, 7 days of “Just Listed” Condominiums and All New MLS® Listings (Houses & Condos) from the past 24 hours.

Sign up for a free Calgary Real Estate Market Report at http://www.mikolajow.com/free-calgary-market-report.php Every month you will receive a customized report with a 12 month summary showing average and median prices of active and sold Calgary real estate listings (with sold prices) in the neighbourhoods of your choosing with their locations displayed in Google Maps.

Go to Calgary Real Estate Blog

View the full listing details including pictures, Google Map information and more! MLS® C3505391

Deer Ridge Bi-Level with Detached Garage
Located at the entrance to a cul-de-sac across from a playground, this clean and bright bi-level is ready to move into! The kitchen features a raised granite eating bar that opens to the living room. Plenty of cabinet space and a full size pantry. Both bathrooms updated with Toto low flush toilets. Downstairs, a cozy gas stove helps warm the family room. There is a large computer room, a bedroom and 3 piece bath. Covered & screened patio lets you enjoy late nights outdoors without the mosquitos and has a natural gas line for your BBQ. Single 14×22 garage. Sunny, west facing back yard is private and there is room to play and for gardens. Lilac trees in the front and back yard! Deer Ridge has easy access to Deerfoot Trail, Anderson and Macleod Trail. Walk or bike to Fish Creek Park and Sikome Lake! Deer Valley Market Place is being extensively renovated – Enjoy a coffee at the new Starbucks! Call to book a showing today! View all Calgary Real Estate Board MLS® listings for sale in Deer Ridge.

Easily create and save customized searches of the Calgary Real Estate Board MLS® by neighbourhood, MLS® Number, postal code, city or Google Maps.

Looking for the newest MLS® listings that Calgary REALTORS® have listed for sale on the Calgary Real Estate Board MLS® System? Here are easy links to view 7 days of “Just Listed” Single Family Homes, 7 days of “Just Listed” Condominiums and All New MLS® Listings (Houses & Condos) from the past 24 hours.

Sign up for a free Calgary Real Estate Market Report at http://www.mikolajow.com/free-calgary-market-report.php Every month you will receive a customized report with a 12 month summary showing average and median prices of active and sold Calgary real estate listings (with sold prices) in the neighbourhoods of your choosing with their locations displayed in Google Maps.

Go to Calgary Real Estate Blog

View the full listing details including pictures, Google Map information and more! MLS® C3501536

Chinook Park Inner City Location!
Great inner-city location. Quick access to transportation, amenities, beautiful Heritage Park, Glenmore Park pathways and a lot more. Fabulous kitchen with large island, cherry raised panel cabinets and beautiful appliances. The renovations enhance this lovely open design. Nice hardwood on main. Built in Panasonic TV in family room will stay. Lots of Newer windows. High efficiency furnace. West private back yard! View all Calgary Real Estate Board MLS® listings for sale in Chinook Park.

Easily create and save customized searches of the Calgary Real Estate Board MLS® by neighbourhood, MLS® Number, postal code, city or Google Maps.

Looking for the newest MLS® listings that Calgary REALTORS® have listed for sale on the Calgary Real Estate Board MLS® System? Here are easy links to view 7 days of “Just Listed” Single Family Homes, 7 days of “Just Listed” Condominiums and All New MLS® Listings (Houses & Condos) from the past 24 hours.

Sign up for a free Calgary Real Estate Market Report at http://www.mikolajow.com/free-calgary-market-report.php Every month you will receive a customized report with a 12 month summary showing average and median prices of active and sold Calgary real estate listings (with sold prices) in the neighbourhoods of your choosing with their locations displayed in Google Maps.

Go to Calgary Real Estate Blog

Stable Pricing Providing Opportunities for Buyers

Calgary, December 1, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), Calgary residential sales in November increased eight per cent over last year, at 17,538 after the first 11 months of the year.

While sales activity tends to taper off in the winter months, so far this year Calgary area sales remain significantly stronger than levels recorded last year. Single family home sales totaled 962 for the month, an increase of eight per cent from November 2010. Meanwhile, year-to-date sales totaled 12,464, a 10 per cent increase over last year. Over the long term, however, sales remained a tepid 17 per cent below the 10 year average.

“Despite any global economic cautions, consumers are actively seeking well priced listings in the market, a reflection of their positive long term outlook for the city,” says Sano Stante, president of CREB®. “Following two years of employment losses, the current growth in jobs is translating into improvements in the housing sector and a more optimistic consumer.”

November listings have edged down over last year’s levels, decreasing by two per cent. Lower listings combined with the increase in sales helped reduce the months of inventory to less than four months.

The year-to-date average and median price of single family homes were a respective $467,140 and $406,500. Overall, prices remain relatively flat compared to last year. 

“This stable pricing provides an opportunity for buyers in our market. The addition of historically low interest rates, combined with a good selection of inventory, makes it a trifecta,” Stante says. “With positive wage growth in the wind, this is a signal, and a reminder, that this market opportunity will not remain forever.”

Condominium sales for the first 11 months of the year totaled 5,074, a five per cent rise over the same period last year. Inventory levels declined to 1,676 units, helping push down the months of supply.

“The rise in condominium sales can be attributed to the confidence in the market, and is typical of this phase of a normal market recovery,” says Stante.

Condominium year-to-date average and median prices in 2011 were $287,545 and $261,500, respectively, a decline over the first 11 months of 2010, mostly due to increased sales in units priced under $200,000.

“Calgary continues to record impressive employment growth and long term fundamentals remain strong,” Stante concludes. ”The strength in our economy, combined with affordability levels that outperform most major centers, will continue to attract migrants to the city and spur further growth in our Calgary housing market.”

About CREB®

CREB® is a professional body of more than 5,100 licensed brokers and registered associates, representing 241 member offices. CREB® is dedicated to enhancing the value, integrity and expertise of its REALTOR® members. Our REALTORS® are committed to a high standard of professional conduct, ongoing education, and a strict Code of Ethics and standards of business practice.

For Calgary Metro, CREB® statistics include only Zone A, B, C and D for properties located in Calgary. Furthermore, all historical data has been adjusted to the most current information.

Any use or reference to CREB® data and statistics must acknowledge CREB® as the source. The board does not generate statistics or analysis of any individual member or company’s market share.

Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas. All MLS® active listings for Calgary and area may be found on the board’s website.

Go to Calgary Real Estate Blog

View the full listing details including pictures, Google Map information and more! MLS® C3499898

Elgin Two Storey with Double Garage in McKenzie Towne!!
Big Lot! Super location! Lovely big fenced yard with double detached garage and RV parking. Enjoy the children, gardening or whatever you like with one of McKenzie Towne’s bigger lots! Front verandah. High ceilings enhance living with spacious grandeur. Living room has gas fireplace, bonus room/den, Kitchen with great eating area and breakfast bar/bar stools included. View of spacious yard, 2 piece bath, laundry on main. Access to laundry/mud room from deck. Also door to deck from kitchen/eating area. Master bedroom to enjoy with sitting area and fireplace has 4-piece ensuite and walk-in closet, two other bedrooms and full bath up. Brand new carpeting throughout main and upstairs. Basement developed with 4th bedroom, family/games room, 3-piece bath and lots of storage. Very special home with tons of space both indoors and outside. You will love it! Come see now! What a beautiful home!! View all Calgary Real Estate Board MLS® listings for sale in McKenzie Towne.

Easily create and save customized searches of the Calgary Real Estate Board MLS® by neighbourhood, MLS® Number, postal code, city or Google Maps.

Looking for the newest MLS® listings that Calgary REALTORS® have listed for sale on the Calgary Real Estate Board MLS® System? Here are easy links to view 7 days of “Just Listed” Single Family Homes, 7 days of “Just Listed” Condominiums and All New MLS® Listings (Houses & Condos) from the past 24 hours.

Sign up for a free Calgary Real Estate Market Report at http://www.mikolajow.com/free-calgary-market-report.php Every month you will receive a customized report with a 12 month summary showing average and median prices of active and sold Calgary real estate listings (with sold prices) in the neighbourhoods of your choosing with their locations displayed in Google Maps.

Go to Calgary Real Estate Blog