Calgary Real Estate Trish Henderson

Open House for 58 Copperfield Terrace SE

Patricia Henderson — Thu, 15 Apr 2010 16:13:00 GMT

We are having an Open House at 58 Copperfield Terrace SE, this Saturday, April 17, from 1:00-4:00 P.M. This a beautifully maintained open 1356 sq ft two story home located in the growing community of Copperfield. When you walk in the front entrance you immediately see the beautiful gas fireplace with built-in shelves for your artistic decor or electronics. This great room is perfect for furniture placement. Neutral decor that works for everyone! Great Room is open to the gorgeous maple kitchen, accented with black appliances; central island and a raised breakfast bar. Very good size nook overlooking back yard. Ideal for entertaining. Upstairs you have 3 good size bedrooms. The master bedroom has a walk-in closet and full en-suite bath. Total bathrooms 2.5. Basement walls have been studded and just waiting for you to finish. Roughed in plumbing in basement. New double detached 22' x 22' garage with paved walk way between the 14' x 10' deck and garage. You still have a great size yard for the kids to play! Come and view this lovely property, you will not be disappointed.

Affordability drives Calgarys Housing Market

Patricia Henderson — Wed, 03 Feb 2010 22:09:00 GMT

Affordability continues to drive a recovery in Calgarys housing market according to figures released today by the Calgary Real Estate Board (CREB®).

The number of single-family homes sold in January 2010 in the city of Calgary was up 39 per cent from the same time a year ago, while condominium sales saw an increase of 67 per cent from the same time a year ago.

“Low mortgage rates and earlier price reductions have improved the affordability of home ownership for Calgarians,” says Diane Scott, newly elected president of CREB®. “For the time being average home prices are more in line with the average incomes. A narrowing gap between the costs of renting versus owning a home will attract more first time home buyers into the market in 2010,” adds Scott.

January 2010 saw 762 single family homes sold in the city of Calgary. This is a decrease of 5 per cent from 799 sales in December 2009. In January 2009, single-family home sales totalled 550. The number of condominium sales for the month of January 2010 was 376. This was an increase of 10 per cent from the 341 condominium transactions recorded in December 2009. In January 2009, condominium sales were 225.

“The story for 2010 will be a balanced and steadier market,” says Scott. “Just one year ago we were facing record low sales and more than 10 months of inventory. Consequently, year-over-year sales comparisons are up dramatically-but all in all sales this month are moving closer to the range we would expect this time of year,” adds Scott.

The average price of a single family home in the city of Calgary in January 2010 was $441,217, showing a decrease of 2 per cent from December 2009, when the average price was $451,349, and showing an increase of 7 per cent from January 2009, when the average price was $413,049. The average price of a condominium in the city of Calgary was $282,639, showing a 2 per cent decrease from December 2009, when the average price was $288,640 and a 4 per cent increase over last year, when the average price was $270,940. Average price information can be useful in establishing trends over time, but does not indicated actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.

The median price of a single family home in the city of Calgary for January 2010 was $398,000, showing a 1 per cent decrease from December 2009, when the median price was $401,000, and a 6 percent increase from January 2009, when the median price was $374,700. The median price of a condominium in January 2010 was $265,000, remaining the same as in December 2009, when the median was also $265,000. That is up 9 per cent from January 2009, when the median price was $243,000.

All city of Calgary MLS® statistics include properties listed and sold only within Calgary’s city limits. The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.

“Affordability is the silver lining in Calgary’s housing market. Even in the face of slowing wage growth-we can see affordability has improved. Higher prices in 2007 and 2008 left the average family with a maximum buying power of $250,000-while average single-family prices pushed well into the $450,000 range. Lower interest rates have enabled these same families to now look at homes in the $350,000 to $375,000 range-closer to average market prices,” says Scott.

Single family listing in the city of Calgary added for the month of January totalled 1,822 an increase of 126 per cent from December 2009 when 806 new listings were added, and showing a decrease of 12 per cent from January 2009, when 2,068 new listings came to the market. Condominium new listings in the city of Calgary added for January 2010 were 951, up 114 per cent from December 2009, when the MLS® saw 444 condo listings coming to the market. This is an increase of 1 per cent from January 2009, when new condominium listings added were 941.

“The outlook for Calgary is still about energy. Re-starting of investment in Fort McMurray will be needed to boost employment in Calgary. Undoubtedly, Calgary’s economic recovery is still fragile and improvements in the housing market will be gradual and modest. The good news is improved housing affordability will make Calgary more attractive to job seekers than in past years,” says Scott.

Reprinted from CREB Statistics January 2010

Calgary Housing Market is Showing Signs of Recovery

Patricia Henderson — Thu, 03 Dec 2009 22:52:00 GMT

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

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

“November sales are clearly demonstrating that the recovery in the Calgary housing market has staying power”, say Bonnie Wegerich, president of the Calgary Real Estate Board. “We have now seen seven consecutive months of year-over-year sales increases for both the single family and condo markets. And November sales are in line with what we would expect this time of year in a balanced and normalized market.”

November 2009 saw 1,095 single family homes sold in the city of Calgary. This is a decrease of 15 per cent from 1,285 sales in October of this year. In November 2008, single-family home sales were 670. The number of condominium sales for the month of November 2009 was 504. This was a decrease of 16 per cent from the 601 condominium transactions recorded last month. In November 2008, condominium sales were 284.

“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 outlook are giving the market an added boost.”

“It’s the ‘new kids on the block’ – the young first time homebuyers if you will- that continue to be a bright spot in our housing market. Clearly this can be seen in the strength of our condo sales this month and it is helped by the narrowing gap between the costs of renting when compared to owning,” says Wegerich.

“ But interestingly in recent months we have also seen more move-up buyers enter the market and this is being reflected in the strength of our average price of single family homes,” adds Wegerich.

The average price of a single-family home in the city of Calgary in November 2009 was $464,444, showing no significant change from October 2009, when the average price was $463,465, and showing an increase of 7 per cent from November 2008, when the average price was $435,471. The average price a of a condominium in the city of Calgary in November was $294,264 showing a 2 per cent increase from October 2009, when the average price was $289,155 and a 3 per cent increase over last year, when the average price was $285,820. 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.

“A healthy demand for homes combine with a steadily decreasing inventory is holding prices firm,” says Wegerich. “Our absorption rate for single family homes in the city of Calgary is currently less than 2.5 months.”

“Pricing will remain stable and may edge upwards in some markets-but it is unlikely that we will see any dramatic jump in prices in the months to come,” says Wegerich.

Single-family listings in the city of Calgary added for the month of November totalled 1,365, a decrease of 25 per cent from October 2009, when 1,819 new listings were added, and showing a decrease of 13 per cent from November 3008, when 1,567 new listings came to the market. Condominium new listings in the city of Calgary added for November 2009 were 705, down 18 per cent from October 2009, when the MLS system saw 859 condominium listings coming to the market. This is a decrease of 5 per cent from November 2008, when new condominium listings added were 741.

The median price a single family home in the city of Calgary for November 2009 was $408,000, showing no significant change from October 2009, when the median price was $410,000, and up 5 per cent from November 2008, when the median price of a condominium $387,300. The median price of a condominium in November 2009 was $264,900, showing a 1 per cent increase from October 2009, when the median was $263,500, and up 5 per cent from November 2008, when the median price was $251,800.

“We expect sales to taper off as we enter the winter months,” notes Wegerich.”But the market is well above the trough we saw at the end of 2008 and we are now seeing much healthier and balanced conditions for both buyers and sellers.”

From CREB® stats November 2009

Great Oportunities In the Entry Level Housing Market

Patricia Henderson — Thu, 16 Apr 2009 21:12:00 GMT

According to a recent survey by Royal LePage, prices are beginning to stabilize in the entry level housing market. For example, some Calgary neighborhoods in the south have shown only minimal price reductions. Detached bungalows in south Calgary dropped 3.1% in 2008 to $352,800. In southwest Calgary, bungalows have dropped only 1.9% to $376,800. This is making it easier for entry level buyers to enter the housing market. Real Pharneuf, a Royal LePage Broker says that this is the result of lower interest rates which are increasing the confidence of entry-level buyers in the market. He further states that entry-level houses were the best sellers of march and that he was seeing increased interest of investors in the entry-level housing market.

Alberta Sales Predicted To Rise Next Year

Patricia Henderson — Tue, 31 Mar 2009 17:13:00 GMT

According to a recent survey done by the CREA Alberta's home sales are expected to rise by 15.2% in 2010. According to the president of CREA, the price of new listings has been dropping steadily lower, which will lead to a stabilization in the housing market. This will lead to fewer listings and more sales. The 2009 housing market is however, expected to continue to decline. However, the CREA president says that their are buyer's out their, but they are being more cautious and taking more time in the decision making process. The best way to guarantee a sale is still realistic prices, marketing and preparation.