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December 2009

Found 4 blog entries for December 2009.

Urban Planning in Calgary

Calgary Urban Planning Urban planning is a relevant topic for anyone interested in the Calgary Real Estate market.

The city, suburban and even development plans for individual subdivisions can have a significant impact on future real estate values.  As such, both buyers and investors in Calgary real estate should make sure to have an adequate understanding of the future impact of this significant topic.

This is a topic that many real estate agents gloss over – but we feel that educating potential buyers and investors is highly important.  Urban planning is a formalized discipline that looks at a wide variety of planning topics; from zoning to green space and community features, such as skateboard parks.

Community features and future structures

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Calgary Real Estate Rental Rates; Among the Highest in Canada

Calgary Real Estate Rental Falling behind only Vancouver, Calgary’s real estate rental rates are the 2nd highest in Canada. Average rents for a two-bedroom unit were just below $1,100, down $48 from the previous year.

We can expect these rates to drop a little further (but still remain in second place nationally) in the Calgary real estate rental market due to an increase in vacancies. The vacancy rate in the Calgary rental market climbed to 5.3% which is higher than the provinces average of 5.5% (a 3% increase from last year). Alberta isn’t the only one; eight out of ten Canadian provinces have experienced an increase in vacancy rates in October 2009.

So what does this vacancy jump mean for potential buyers and

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Single-family Homes Spur Calgary Real Estate Market

calgary-housing-starts_849 Calgary real estate is showing promise with single-family homes being built at a faster pace than the same period in 2008. The Calgary real estate market had a 2009 record of 832 units built in one month. Chief Economist Bob Dugan of the Canada Mortgage and Housing Corporation, said that “despite a small decline in November’s multiple home construction, overall starts numbers were up due to a solid increase in singles starts.”

The renewed interest in home construction and the real estate market in Calgary is likely due to lower prices, reasonable mortgage rates, and less availability. Strong demand for single-family housing continues to rise and push for more new construction.


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Calgary Market Stats - November 2009 


There's no question that confidence has returned to the Calgary real estate market, as witnessed by the number of higher priced properties that are now selling. At the same time low interest *mortgage* rates and an exceptionally low listing inventory (metro Calgary inventory now sitting at just over 2.5 months of listings) are supporting the price levels.  

The Calgary real estate market maintained its recovery from last years economic downturn by recording yet another strong month in November. Metro Calgary MLS sales for November 2009 show combined residential sales *SF homes + condos* of 1,599 units, a more than 67% increase from the same time last year. At the same time the price of an average SF Calgary home

3,472 Views, 2 Comments