Posts Tagged ‘Calgary Communities’

Calgary Best Performing Real Estate Market in Canada

Tuesday, January 15th, 2013

CALGARY — Calgary was the only major Canadian market to see a year-over-year rise in MLS residential sales in December as the national market plunged and the city finished 2012 with the best annual sales growth in the country, according to the Canadian Real Estate Association.

In releasing a report Tuesday, the association’s data indicated Calgary MLS sales in December of 1,343 were up 7.2 per cent from December 2011 while Canada saw a decline of 17.4 per cent to 20,538 sales.

The average sale price in Calgary in December rose by 6.9 per cent from last year to $419,811 while Canada’s average jumped by 1.6 per cent to $352,787.

On an annual basis, Calgary sales of 26,634 were up 18.6 per cent year-over-year while they fell by 1.1 per cent throughout the country to 453,372.

The average annual sale price in Calgary rose by 2.3 per cent to $412,315 in 2012. It was up by 0.3 per cent in Canada to $363,740.

“Calgary bucked the national trend in 2012 as the market began to come alive, while others began to enter a long sleep. This occurred because of two main influences,” said Don Campbell, senior analyst and founding partner of the Real Estate Investment Network. “Over the previous three years, Calgary had not over-performed its underlying economic fundamentals like many other major markets across the country, especially Toronto and Vancouver. A lack of new housing being poured into the market also helped to keep the average sale price in check.

“Population growth in Alberta neared a record high in 2012 as many moved here to take advantage of the job growth. This expansion of the number of citizens who call Calgary home, whether temporarily or permanently, put upward pressure on the rental market in the city. This increase in (rents) pushed many into the purchase market and therefore began the upward demand on the home-purchase market. This trend will continue, and inevitably get stronger, in 2013.”

Calgary’s market is showing no signs of letting up in January. According to the Calgary Real Estate Board, month-to-date from January 1-14, there have been 375 MLS sales in the city, up 9.97 per cent from the same period last year while the average sale price has jumped by 11.75 per cent to $428,063.

In December, sales in Alberta fell by 1.9 per cent to 2,855 transactions and the average sale price went up by 4.8 per cent to $363,340. Over the year, sales in Alberta in 2012 rose by 12.3 per cent, the highest of any province, and the average sale price increased by 2.8 per cent to $363,208.

CREA’s Home Price Index in December, of seven major Canadian markets, saw the average benchmark price increase by 3.32 per cent in Canada. Regina led the country with 10.53 per cent growth followed by Calgary at 7.37 per cent.

“Similar to what we saw in September, December sales had fewer business days compared to the same month last year and most other years,” said Gregory Klump, CREA’s chief economist, about the national picture. “It factored into December’s year-over-year decline in sales activity.”

But he also said that “successive rounds of tightening mortgage regulations have kept the housing market in check during what has become an extended low interest rate environment.”

Sonya Gulati, senior economist with TD Economics, described 2012 as a lacklustre year for the Canadian housing market.

“With the whopping 17.4 per cent year-over-year change in sales seen in December, we suspect that the impacts from the mortgage rule tightening in July are now fully priced in,” she said. “We expect the Canadian housing market to stabilize at current levels over the next few months. When looking at previous mortgage rule tightening episodes, the housing market impacts have been temporary in nature. There is no reason to think that this time will be any different.”

Benjamin Reitzes, senior economist with BMO Capital Markets, said the Canadian housing market continues to cool.

“While some will focus on the deep dive in sales from a year ago, it looks as though prices are providing a better read on the health of the sector, as homeowners are in no rush sell,” he said. “Prices are easing gently, consistent with a soft landing through much of the country.”

mtoneguzzi@calgaryherald.com

Twitter: MTone123

© Copyright (c) The Calgary Herald

Calgary Home Sales and Prices Spike Higher in 2012

Friday, January 4th, 2013

Calgary’s real estate market has been very active this year.

 

 

CALGARY — Rising population numbers drove Calgary housing sales higher and brought average prices within a hair of the record set in 2007, according to the Calgary Real Estate Board.

On Wednesday it announced that 15 per cent more residential real estate sales were completed in the city of Calgary in 2012 than in 2011 and that average prices were up five per cent.

“Calgary’s housing market has finally started to recover,” said Ann-Marie Lurie, CREB’s chief economist, in a news release. “While prices remain shy of the highs recorded in 2007, this is a move in the right direction.”

There were 21,207 residential property sales in 2012, up from 18,496 in 2011.

The news comes as ATB Financial economist Will van’t Veld reported that Alberta likely welcomed more new Albertans in 2012 than in its boom years a decade ago.

“This isn’t surprising, as the labour market here has been the best in the country and housing costs are relatively affordable,” he wrote in a report.

“The stage is set for the trend to continue in 2013 and beyond.”

Through the first three quarters of 2012, almost 56,000 more individuals came to Alberta than left the province, ATB noted, adding that’s 6,000 more than in 2006, the year Alberta saw its largest in-migration, and 16,000 more than in 2005, the second highest in-migration year.

“The last time Alberta welcomed so many newcomers there wasn’t enough housing to shelter everyone and that sparked the housing boom,” said van’t Veld in a report.

“In the early 2000s, housing starts in Alberta weren’t strong and there was little surplus inventory, so the mid-decade influx of migrants put pressure on existing housing stock. The jump in real estate prices caused a building boom, which is why there is no major shortage today.”

Lurie attributed the recent growth in Calgary’s real estate sales to the energy sector.

“There is no question employment and migration growth has supported housing demand, a trend that is expected to continue this year, albeit at a slower pace,” she said.

CREB figures show that single-family sales rose by 15 per cent in 2012 compared to 2011 but new listings fell by seven per cent, significantly reducing the inventory and pushing prices higher.

“Consumers in the market were looking for value, and, if a home was priced right based on a longer term view of their housing needs, they were buying,” said CREB president Bob Jablonski.

The unadjusted average price of a single-family house in Calgary was $497,000 for the month of December, nine per cent higher than $455,000 in the same month of 2011.

For the year, average single-family prices were up three per cent to $481,000.

CREB said its “benchmark” or typical single family house sold for $434,800 in 2012, two per cent below peak pricing in 2007.

Sales in the apartment and townhouse sector recorded annual increases of 12 and 16 per cent, respectively, while listings declined in both sectors

Condominium apartment average prices totalled 304,000 in December, a 13 per cent increase over December 2011 but CREB cautioned that there were several multimillion-dollar condominium sales in 2012 that skewed figures higher.

Townhouses posted an average price of $306,000 in December, up 4.5 per cent from $293,000 a year earlier.

dhealing@calgaryherald.com

© Copyright (c) The Calgary Herald

TOP 10 Neighbourhoods in Calgary & Edmonton Voted By YOU!!!!!

Friday, March 19th, 2010

I found this article online at http://cityspice.travelalberta.com/#/16

Im gonna keep it short and sweet and only list the Calgary Communities chosen! Sorry Edmonton :)

# 9 – Marda Loop – http://www.mardaloopbrz.ca/

#7 –  17th Ave – http://www.uptown17.ca/default.asp

#4 – Mission – http://www.cliffbungalowmission.com/

#2 – Inglewood – http://www.calgary-inglewood.com/

#1 –  Kensignton – http://www.visitkensington.com/

Lots of fun stuff, and tips in the aritcle. ENJOY!

kensington_0011

For more information on any other Calgary Community  shoot me an email!

Connaught Community Overview

Thursday, April 2nd, 2009

The Beltline is a region of central Calgary, Alberta, Canada. The area is located immediately to the south of Calgary’s downtown (south of 9th Avenue and the Canadian Pacific Railway tracks), and is sometimes considered part of downtown. The neighbourhood is bound on the south by the popular 17th Avenue, on the west by 14th Street West and on the east by the Elbow River.

The first established district in the neighbourhood was Connaught in 1905, followed by Victoria Park in 1914. When the region and its redevelopment plan were formally established in 2003, it amalgamated the inner city neighbourhoods of Victoria Park and Connaught.[3] As of 2006, there were 16,662 people residing in the Beltline and its districts.

The City of Calgary officially recognizes four separate “neighbourhoods” in the Beltline: West Connaught, Connaught Centre, Victoria Crossing Centre, and East Victoria Crossing. They are communities of equal north-south orientation and divided by Eighth Street SW, Fourth Street SW, Macleod Trail (1st Street SE), and the Elbow River

The Beltline contains a number of less formal city districts within its boundaries. These include Midtown, the Design District, Victoria Crossing Business Revitalization Zone[5] (Victoria), the 4th Street BRZ (located mostly within Mission), the Uptown 17th BRZ, the Warehouse District, and a portion of the Rivers District.

17th Avenue, which is on the southern extremity of the Beltline district has already established itself as a vibrant mixed-use area. Uptown 17th is one of Calgary’s Business Revitalization Zones.[6] With a dense concentration of bars, restaurants, nightclubs, and shops, the street is effectively Calgary’s primary “party street”. Behind this lively commercial development are residential areas. The street also “dead-ends” at the Stampede Grounds on its east side, and is thus central to the party-like atmosphere that overtakes the city during the Calgary Stampede festival. 17th Avenue was nicknamed the “Red Mile” in 2004 during the playoff run of Calgary’s NHL team, the Calgary Flames. During this time, it was not uncommon to see over 100,000 fans crowding the street and its bars and pubs on game nights.

Connaught was established in 1905, and comprises the western part of the Beltline, west of 4th Street W.

Two public schools are located in Beltline, the Connaught Community School and the Victoria Community School.[3] Western Canada High School is located along the 17th Avenue boundary of the community, and serves the area. One block outside the Beltline is St. Mary’s High School which serves most of the Roman Catholic high school students in the areaRED MILE CAL0429-sg-redmile 6.JPG

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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