Archive for the ‘Economy’ Category

Calgary Real Estate Market Update- March 2017

Monday, April 3rd, 2017

Happy April! It’s kind of hard to believe that Winter has already come and gone. We can’t say we currently miss it too much as we have been loving the Spring weather in Calgary thus far.

The weather wasn’t the only thing that was heating up in March as the Calgary Real Estate Market continued its transition in to a balanced market. The promising start to the active spring season saw 1,906 properties sell in Calgary, which was a 20% increase over this time last year. Overall home inventory was down over 16% compared to last year. Average home prices were up 4.67% over last March. These conditions provide a pretty optimistic outlook for sellers and the market for the remainder of Spring.

Our team had a very successful March. It was our busiest month to date with us selling 16 properties in all areas of the market including inner-city condo’s, rural estate homes, new builds and single family homes through-out Calgary. We are excited to see what the rest of spring has in store for us.

If you have any questions regarding the Calgary Real Estate Market please contact us today. The Home Sweet Home Team is happy to provide you with any additional insight you would like regarding the market and the stats for the year so far. If you have any real estate needs, the Home Sweet Home Team is here for you.

For the full Calgary Real Estate Board Stats Package please click here: March 2017 Stats Package

Home Sweet Home Team

The Top Producing Team at Century 21 Bamber Realty Ltd.

HomeSweetHomeTeam.ca

 

 

 

Calgary Housing Market Outlook & Forecast 2017

Thursday, January 12th, 2017

Calgary Bridge (small)

 

 

 

 

 

 

 

 

 

 

We received great insight from yesterday’s Calgary Real Estate Board 2017 housing forecast that we wanted to pass on to you. The forecast provided an economic and housing expert outlook for Calgary and its surrounding rural communities.

Overall, the outlook for Calgary’s market is positive. We aren’t anticipating declines that were experienced in home prices and sales across the board last year. Instead, we are expecting to see a stabilized market with a projected growth of 3% in sales and 0.8% in home prices. This will help reduce the supply of home inventory levels as Calgary’s economy continues along its recovery process.

 Please clink the link below for the full Calgary and surrounding rural area housing forecast for your viewing pleasure.

2017 Forecast Report

If you or anyone you know have any real estate needs, or questions regarding the market, please do not hesitate to contact the Home Sweet Home Team.

HomeSweetHomeTeam.ca

The Bank Of Canada Drops the Overnight Lending Insurance Rate

Wednesday, January 21st, 2015

Home Owner picture

Huge news was announced by the Bank Of Canada this morning. They announced that the key overnight lending rate was reduced by 0.25 of a percentage point to 0.75. This rate has been steady at 1 % since September 2010. Their reasoning behind the interest rate drop was it being a significant response to the uncertainty surrounding the volatile Oil Market in Canada and the declining Oil prices.

What this means for the average prospective buyer in Canada is that there will now be lower rates for variable mortgage rates, lines of credit, and other loans that differentiate with prime rates. This will provide a greater incentive to home buyers and ultimately provide insurance with the declining oil prices and the effect on the Canadian economy, and most importantly the Alberta Economy.

We foresee the Calgary Real Estate Market staying stable throughout this and the oil prices hopefully rebounding before we see a significant effect on the market.

For more information on the Calgary Real Estate Market or home financing please contact us, the Top Producing Real Estate Team at the #1 Century 21 Canada Real Estate Office!

HomeSweetHomeTeam.ca

Top Producing Team at Century 21 Bamber Realty Ltd.

 

 

Calgary Property Tax Deadline Extended 2 Weeks

Thursday, June 27th, 2013

 

Due to the large amount of Calgary homeowners affected by the Calgary flood, the Calgary property tax deadline has been extended two more weeks until July 12, 2013!

Our mayor Naheed Nenshi decided this was an appropriate response as many Calgary  citizens have suffered damage and have  a lot more important things to focus on at this moment than their property taxes.

This 2 week grace period will allow those Calgarian homeowners who are paying their property taxes after this Friday to not be penalized 7% on the remaining unpaid balance on their taxes. On July 12, 2013 after this 2 week grace period, this penalty will again be enforced.

For more information on Calgary property taxes and where you can pay them while Calgary is recovering from the flood damage, please Click Here to see the information on Calgary.ca.

If you would like any information on anything regarding Calgary Real Estate, the Home Sweet Home team is here for you. Please Contact US

A New April Record For Calgary Luxury Homes Sales

Thursday, May 2nd, 2013

Once again the luxury home market in Calgary is breaking records for the number of luxury homes sold in the Calgary resale MLS market.

According to a report by Mario Toneguzzi, a real estate journalist and specialist at Calgary Herald, there were 65 properties in the price range of over $1 million sold during the month of April, 2013. This is a 38 % spike over the exact same time period last year. The previous record for sales in the month of April was seen in 2012 with sales of 47 luxury homes.

This year’s luxury home sales is well on its way to passing the record set last year for 544 luxury home sales in 2012. The most notable luxury home sale was seen just last week with Calgary Flame’s past captain and local hero Jarome Iginla’s home selling for $3.995, full list price in just a day.

The April record is the 3rd highest number of luxury sales ever experienced in any month for Calgary, putting it behind 80 for May 2012 and 74 which happened this year in March.

If you are interested to see what the market value of your luxury home might be in this hot market please Contact Us today. We would be more than glad to provide you with a free market evaluation of your home.

If you are looking to upgrade and are looking for a Calgary luxury home, take a look at Calgary’s Properties For Sale

Calgary Home Price Growth One of the Best in Canada

Friday, April 26th, 2013

Calgary’s resale housing market price growth is being recognized as being one of the best in Canada.

Calgary has experienced an increase of 6.6% from their average price of $435,032 in 2012. This puts Calgary in the same group as Victoria, Saskatchewan, Thunder Bay, Halifax, and Newfoundland in the 7% home price growth range over last year.

With the current inventory of sales low in Calgary there has been a spike in demand for single family homes, especially one’s located in desirable communities and inner-city Calgary. This is resulting in less days on market and an overall increase in price growth.

Please contact us today if you would like to see what the market value of your home might be in this hot market.

We will provide you with a Free Market Evaluation of Your Home

Source:  Calgary Herald- Calgary Price Growth

An Opportune Time To Sell Your Calgary Home

Wednesday, April 17th, 2013

 

 

 

 

 

 

 

There is currently a low level of inventory of Calgary homes for sale. This combined with a high demand from buyers is great news for those looking to sell their home.

New home sellers can capitalize on homes being in short demand and sell for a great price.

Here is a video from Global Calgary on the current state of the Calgary Market.

 

Tight Housing Market in Calgary

 

If you are thinking about selling your Calgary home please contact us today and we would be more than happy to give you a free market evaluation of your home.

If you are interested in how much homes in your area are worth please visit the compare your Calgary home section on our home page of our website. Here you can find specific information such as pricing of current listings in your neighborhood.

 

Calgary’s March Real Estate Market Statistics

Tuesday, April 2nd, 2013

Tightened housing supply curbs sales volume

First quarter sales improve in condominium market, while declining in single family sector

The inventory of active homes for sale in Calgary are the lowest March levels in more than five years.  The decline in new listings hampered resale sales growth, which declined by more than two per cent in March compared to March 2012.

 

New listings in March are five per cent lower than levels recorded in 2012, and five per cent lower after the first quarter.  The overall active listings stand at just 4,006 units, up from February’s levels but well below the number available one year ago.

 

“Less resale product available to consumers is ultimately limiting sales growth,” said CREB® President Becky Walters. “In addition, resale homes are selling in less time and with continued upward pressure on prices.”

 

Walters said buyers have grown accustomed to a market when they have more time to make decisions because there was ample supply. But, as market conditions have tightened, if they are serious about purchasing a resale home, they can no longer significantly delay that decision, she said.

“While market conditions are a far cry from activity witnessed throughout the frenzy in 2006 and 2007, there has been a noticeable change over what became the norm over the past few years.” Walters said.

 

Single-family, year-over-year sales growth declined by six per cent in March, a reflection of declining supply. Active inventory totaled 2,713 units, 22 per cent lower than levels recorded in 2012, and the lowest March inventory level recorded since 2007. The market balance continues to trend into seller’s territory in this segment causing a year-over-year price increase of nearly nine per cent, for a total of $446,500 in March 2013.

 

“Tighter rental conditions and continued employment growth has supported housing demand growth,” said Ann-Marie Laurie, CREB®’s chief economist. “However, for those looking for more affordable single family home products, their choices continue to narrow.”

 

She said new single-family listings under $500,000 are declining at double-digit rates, driving consumers at that price point to either surrounding towns, condominiums or the new home market.

 

The condominium townhouse market is the only category to record a year-over-year rise in sales activity for the month.  This is in part because the level of new listings improved in March 2013 relative to March 2012.  Condominium year-over-year apartment sales declined by nearly three per cent in March.

However, after the first quarter, sales activity totaled 830 units a 6 per cent increase over the previous year.  Condominium townhouse sales totaled 652 units at the end of the first quarter, a 15 per cent increase over the previous year.

 

“The condominium apartment market remains in balance,” said Lurie. “While it has moved to the lower end of the spectrum, it remains better supplied then the single family market and the majority of product available is in an affordable price range.”

 

The benchmark apartment price totaled $257,700 in March, a six per cent increase over the previous year.  Meanwhile, the condominium townhouse benchmark price experienced a year-over-year increase of 4 per cent, to $286,800.

 

“Despite tighter market conditions, it is unlikely that we will have another significant run-up in prices,” said Lurie. “Outside of easing economic factors expected this year, consumers have options in the total housing market.”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Source: http://www.creb.com/public/seller-resources/housing-statistics.php

Canada, One of the Best Countries In the World For Home Ownership

Tuesday, March 19th, 2013

Canada is one of the best countries in the world for home ownership. We are now clearly the fastest growing nation in the G8 regarding immigration as recently reported in the Globe and Mail. Canada is setting its sights on an annual immigration of 400,000 people by 2016 up from the current 320,000.

The demand for home ownership across all provinces will be significant for decades. As Canadians we can feel confident that our home will continue to be a place where we raise our families, have our dreams come true and remain a cornerstone of our life long financial well being, despite what the media would like us to believe.

 

 

 

 

 

 

The U.S. economy is showing signs of consistent growth with housing starts and new jobs leading the charge. This of course bodes well for us and is particularly welcome news for our manufacturing and resource sectors.

So the economy on both sides of the border looks promising, immigration will continue to add to the growth of Canada and interest rates are historically low. Regardless of what some might want us to think Canada is Still the Best Place to Own a Home!

Calgary MLS Record Sale in Aspen Woods

Thursday, February 28th, 2013

 

 

If you didn’t think the real estate market was crazy in Calgary this might change your mind. On Wednesday, February 27th an Aspen Woods home sold for a whopping $10.35 million. This sets the record for the highest MLS sale price ever recorded in Calgary!

If you want to take advantage of the HOT market, give us a call today and we would love to be the one’s to list your home.

If you want to take a look at the photo gallery of this breath taking home many describe as a “French Castle” follow the link below.

http://www.calgaryherald.com/business/real-estate/Gallery+Aspen+Woods+home+sells+record+million/6988471/story.html

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Calgary Real Estate Board. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.
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