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Living in Calgary

Calgary Real Estate Update: November 25

Spotlight on Calgary real estate market - November 2013(Calgary - November 2013): Calgary residential property sales climbed 14% in the first 24 days of November *versus the same period in 2012*.

Despite the seasonal slowdown in the market - associated with colder weather and the upcoming holidays - the Calgary Board's MLS® System recorded combined metro sales of 1,349 properties month-to-date *MTD*.

Calgary homes accounted for most of the increase in sales, with single family home sales seeing a 17% increase month-to-date *MTD* over 2012. Calgary condo sales rose 8% over last year. The median sale price of both Calgary homes and condos rose by 9%  *MTD*.

 

To paraphrase CREB's chief economist Ann-Marie Lurie:

Price growth is related to stronger than

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Calgary Homes Market Update

Calgary market stats from JimSparrow.com

(Calgary - November 18): Residential property sales in Calgary continue to be robust, with home and condo sales November 1st through 18th eclipsing the same period last year by 22%.

Despite the recent snowfalls, demand for property in Calgary continues to be the strongest seen in November since 2006. Year-to-date residential sales are 10.7% higher than the same period last year.

Calgary properties continues to sell more quickly than last year, with an average days on market (DOM) of 37 days versus 48 days last November.

 

Calgary Home Sales

There are currently 2,521 Calgary homes listed for sale on the Calgary Board MLS® system *metro Calgary*, which represents 2.1 months of home inventory.

  • There were
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Calgary real estate lawyer Lou Pesta

(Calgary - November 2013): Here's a timely tip from Calgary lawyer Lou Pesta that both buyers & sellers of property should take note of. It applies to not only Canada but to real estate transactions everywhere.

The way the Christmas and New Year's Holidays are scheduled this year many law firms (including ours) will either be closed entirely or will operate with only skeleton staffing between December 20th and January 6th.

In addition, the Alberta Land Titles Office and major banks in the city of Calgary will be closed a number of days between Christmas and the New Year.

As a result it will be extremely difficult to close Calgary real estate transactions falling within this time frame and I urge you to schedule your closings accordingly.

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Spotlight on Calgary real estate market - October 2013(Calgary - October 2013): The Calgary real estate market continues its strong growth in the first half of October recording increases in sales and prices in all property categories. Low listing inventory levels in both the home & condominium sectors has resulted in tight market conditions and higher prices.

Calgary's population increased by nearly 30,000 people last year, and the growth rate in 2013 will likely be significantly higher than 2012's 2.6%. The city has become one of the leading economic engines of the country, offering high-paying jobs for people with a variety of backgrounds. Calgary continues to enjoy the Alberta advantage - a reasonable cost of living, clean air, no provincial sales tax and unlimited potential for those willing to work

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Calgary Board MLS® sales climb for 6th consecutive monthThis marks the 6th consecutive month Calgary home sales have exceeded last years results, as the Board sales for the Calgary metro area are poised to finish about 20% higher than results from last September.

Monthly sales have surpassed 2012 numbers for every month this year with the exception of February and March, which only missed matching last years figures by a couple of percentage points.

2013 year-to-date sales were ahead of 2012 numbers by 1.6% after the first quarter, 4.5% higher after the second quarter of the year, and projected 3rd quarter totals are just under 10% higher than last year.

 

Calgary Metro Board MLS® Sales: Year-to-date 2013

Sales of Calgary homes and condos are higher than they've been in six years, with

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Calgary Post Flood Real Estate Review

Elbow Park mansion in SW Calgary after June 22 2013 flood

Flooded Elbow Park Home - SW Calgary

As Southern Alberta continues to recover from the devasting flood experienced June 22 2013, the effects have already started impacting the metro Calgary real estate market. Everyone has an opinion - this is ours.

While flooding in the city made international headlines, the number of neighbourhoods affected by the disaster account for less than 12% of all Calgary communities. Areas that saw flooding were those along the banks of either the Bow and Elbow Rivers along with adjacent low-lying communities. Most of Calgary remained high & dry. The Calgary Real Estate board estimates roughly 14% of metro housing stock has been impacted, as many high density condos in the

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Shawnee Slopes / Shawnee Park Calgary

When Geo-Energy Enterprises announced their intent to transform the 130-acre Shawnee Slopes Golf Course into a subdivision, the proposal was met with mixed reviews.

The local residents didn't want to lose their recreation space and were concerned about the population growth and increased traffic in their quiet neighbourhood. I see where they're coming from. You'd think you're pretty safe from future development by purchasing a house that backs onto a golf course; then a few years later that sweeping fairway turns into a cul-de-sac. I understand their frustration.

In any event, the deal is going through; and now after purchasing the property from Geo-Energy, Cardel Homes will be the major developers. The project will be considerable - here are some

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Calgary Real Estate Selling Faster, For More

Calgary real estate selling 19% faster

 May 27, 2013:  Calgary homes are selling faster and for higher prices in May than they were a year ago. Jim Sparrow, a REALTOR® with Royal LePage in SW Calgary commented on the numbers Monday:

"Total Calgary metro sales (houses & condos combined) were up 4.9% vs the same period last year (2,122 vs. 2,022). Single family Calgary homes have sold slightly more (+1.3%) month-to-date as they did in May 2012: 1,465 sales this year vs. 1,446 in May '12). Both the average & median sale price have increased" 

Calgary House Sales (May 2013 month-to date)

Average 2013 May price MTD = $522,391 (3.7% higher than 2012's $503,513)
Median 2013 May price MTD = $458,000 (5.3% higher than 2012's $435,000)

While

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A large estate in Calgary's upscale Aspen Woods set an MLS® record for the city today with sale price of $10,350,000, a staggering $1,113 per square foot. The opulent home was built by Calgary's Pacer Signature Homes, and is styled after a majestic French country castle with just under 14,000 square feet of developed living space.

Aspen Ridge Estate sells for record

The property, originally listed by Sotheby's in July 2011, initially had an asking price of $12 million. A year later the property was relisted for just under $11.5 million. There's no word on whether a local resident or international buyer purchased the property.

The previous sales record for  a home on the Calgary MLS® system was former Calgary Flames Mike Vernon's Elbow Park estate that sold in 2009 for

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Calgary home buyers continue to keep their foot on the pedal, with January sales up a sizeable 15% from the same month last year. Both single family home and condo sales rose by approximately the same percentage over last years number. This marks the twelfth consecutive month that Year over Year sales have increased. Calgary is one of the only major cities in the country to see an increase in sales this year.

Calgary Single Family Home Prices

Calgary real estate market review January 2013

Total sales of Calgary homes and condos in the metro area were 1,230 vs 1,069 last January, a 15.1% increase

  • SF home sales @ 879 vs 763 last January
  • Median SF sale price @ $435,500, up 10.3% over last January's $395,000 
  • Median SF sale price sets a new record for the month of January, 6% higher
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