Free Real Estate Apps to Amp Up Your Home Search!

Modern technology has given us wonderful tools that can make our lives easier in so many ways and Real Estate is no different. 
 
Most people know they can search the MLS® on the website of their favourite REALTOR®, however you have more power at your fingertips and on your iPhone, iPad or Android Smartphone than you probably realized!  Here is some info on a very cool, free application that once installed, combines real time GPS capability with the Calgary and surrounding district MLS® system, allowing you to search thousands of listings while on the move, quickly, easily and instantly!  
 
What’s so unique about this?  If you are a serious home buyer, it brings an entirely new dimension to looking for your new home.  Once activated, the system uses GPS technology to create a map showing you all current listings within a 1 kilometre radius of your current location. 
 
See a home you like while you are out for the evening and would like to know the listing details?  Open your mobile MLS® app and click on the pin indicating the home on the map. The price, listing details including photographs and all related information is there for you instantly.  If you would like to know more about the listing or schedule an appointment to view, simply click on the Inquire button or call the phone number provided.  It’s as simple as that. 
 
To obtain the app, simply visit HouseHuntingAdventures.com, click on the Mobile Web App and follow the installation guide.

Your Own Personal and Private Online Real Estate Office

Your mobile app can also be combined with your online VOW Virtual Office Website, another freely available service.  People are often hesitant to “sign up” because they are unaware of what it is, and are concerned about personal privacy, however sign up simply allows the system to create file space for a system personalized to you, allowing you to take advantage of more than just the simple MLS ® search engine.
 
Setting up your personalized system is quick and easy, and provides you with the ability to do custom searches for homes or properties.  When you sign up for a free account the system creates your personal real estate virtual office where you can organize your home research, organize folders for your searches and much more.  You can save your searches and compile lists of potential homes for you to compare quickly and easily. It's your own personal MLS® service, customized specifically to you and your needs. 
 
 If you would like to set up your own personal space, visit HouseHuntingAdventures.com/vow.html and click the sign up button to set up your private online Real Estate office.  The service is free, easy to set up and use.


 

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Stable Pricing Providing Opportunities for Buyers

 

Calgary, December 1, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), Calgary residential sales in November increased eight per cent over last year, at 17,538 after the first 11 months of the year. 

 

While sales activity tends to taper off in the winter months, so far this year Calgary area sales remain significantly stronger than levels recorded last year. Single family home sales totaled 962 for the month, an increase of eight per cent from November 2010. Meanwhile, year-to-date sales totaled 12,464, a 10 per cent increase over last year. Over the long term, however, sales remained a tepid 17 per cent below the 10 year average. 

 

“Despite any global economic cautions, consumers are actively seeking well priced listings in the market, a reflection of their positive long term outlook for the city,” says Sano Stante, president of CREB®. “Following two years of employment losses, the current growth in jobs is translating into improvements in the housing sector and a more optimistic consumer.”

 

November listings have edged down over last year’s levels, decreasing by two per cent. Lower listings combined with the increase in sales helped reduce the months of inventory to less than four months. 

 

The year-to-date average and median price of single family homes were a respective $467,140 and $406,500. Overall, prices remain relatively flat compared to last year. 

 

“This stable pricing provides an opportunity for buyers in our market. The addition of historically low interest rates, combined with a good selection of inventory, makes it a trifecta,” Stante says. “With positive wage growth in the wind, this is a signal, and a reminder, that this market opportunity will not remain forever.”

 

Condominium sales for the first 11 months of the year totaled 5,074, a five per cent rise over the same period last year. Inventory levels declined to 1,676 units, helping push down the months of supply. 

 

“The rise in condominium sales can be attributed to the confidence in the market, and is typical of this phase of a normal market recovery,” says Stante.

 

Condominium year-to-date average and median prices in 2011 were $287,545 and $261,500, respectively, a decline over the first 11 months of 2010, mostly due to increased sales in units priced under $200,000. 

 

“Calgary continues to record impressive employment growth and long term fundamentals remain strong,” Stante concludes. “The strength in our economy, combined with affordability levels that outperform most major centers, will continue to attract migrants to the city and spur further growth in our Calgary housing market.”

 

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Selling Your Home For Market Value!
 
Even in today’s market, you don’t have to under value your home in order to generate buyers.  At the same time, if you want your home to sell in a reasonable amount of time, it is important that you don’t price your home over market value either.  In the end, it is entirely up to you how you price your home, but it is important to determine what outcome you want to have and what your goals are when determining what your final listing price should be.
 

Some clients prefer to list on the high side to test the market in the hopes they will make more money from the sale of their home. In the end, the home stays listed for many months with few if any showings, and no movement because the home owner has chosen to over price their home.

In the end, if you want to sell your home and progress to the next stage of your real estate goals, it is important to price your home fairly, with a marketable price that is competitive, but without under valuing your home just to get a quick sale.
 
Pricing your home fairly is always a fine balance!  In the end, the correct selling price of your home is the highest price the current market will bear. Your home will always sell for the current market value if you are patient, price it right and have a REALTOR®  who is working in YOUR best interest.
 
I am frequently contacted by home owners who request a free market evaluation of their home. More often than not, I am requested to provide an online evaluation or Comparative Market Analysis and to email the report. 
 
Unfortunately this does not provide the home owner with information that is accurate enough to make a proper determination of the true value of their home, and in many cases the estimate of the value of their home will be undervalued.
 
For this reason, I prefer to do more than providing a standard comparative market analysis. Consider the following questions:
 
Do you know how much your home has appreciated over the last few years?  Do you know how much CASH is tied up in your home?  What your REAL equity is?
 
Serious sellers should request an on site evaluation to determine the most accurate potential value of your home.
 
Why?  Because any  CMA provided by using the standard tools available to Real Estate professionals cannot take into account what the REALTOR® is able to add into the equation by attending and viewing specific upgrades, taking accurate measurements and comparing what they see on site to other homes they have been to that are in a similar category as your home.  For this reason, an on site Maximum Home Value Audit provides you with a more accurate calculation of what the fair market value is for your home.
 

 

 

 

 

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First year-over-year increase in monthly condominium sales since April 2010

 

Calgary, July 4, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), residential sales surged in the month of June 2011 to 1,979 units. While this indicates a third more sales than June 2010, the year-todate increase proved a moderate 2 per cent. Strong monthly increases does not imply a housing boom, as it is important to put into perspective that sales

activity remains below long term averages. While the single family market has shown signs of improvement throughout the first half of this year, this is the first time since April 2010 that condominium sales have recorded a year-over year increase.

 

“Improved housing demand is being fueled by a younger demographic and, with the affordability of homes in Calgary, we are continuing to see young Calgarians pursue ownership over rentals,” says Sano Stante, president of CREB®.

 

“Historically, Calgary’s average family income has been higher than the national average and a younger more mobile demographic has been attracted to good paying professional jobs in Calgary. As the economy continues to build momentum, we expect this same trend will support a balanced and healthy

housing market in the second half of 2011 and into 2012.”

 

With 581 sales for the month of June 2011, the condominium market improved by 31 per cent over June of 2010, however year-to-date figures show a 5 per cent decrease over the same period last year.

 

“Condo sales bounced back this month, and we now have less than four months of supply on the market. Stronger condo sales, combined with a decline in inventory, will lend more balance to this market in the months to come,” says Stante.

 

After the first half of the year, average prices of condominiums are still slightly lower than levels recorded last year, as more buyers bought condominiums under $200,000 in 2011 compared to 2010 for the same period.
 

“Buyers in this market expect value and many are taking advantage of some affordable buys in both the single family and condo markets. It highlights using a skilled REALTOR® to properly price your home for your unique market area,” says Stante.

 

The single family market recorded 1,398 sales in the month of June 2011. This is an increase of 32 per cent when compared to June 2010 when 1,059 single family homes sold in the city of Calgary. With a total of 7,231 sales after the first half of the year, year-to-date single family sales are 6 per cent higher than last year.

 

“While new listings are still lower than levels recorded last year, the rate of decline has eased. With the market shifting to more balanced conditions in recent months, sellers are feeling more confident to list their home. Overall our absorption rate has remained relatively stable, staving off any significant rise in

prices,” says Stante.

 

Year-to-date average price of a single family home in Calgary is $472,330, while the median price is $410,000, virtually unchanged over levels recorded in the previous year. The distribution of sales by price range has not shown any significant shift compared to last year, pointing to continued stability in the market.
 

“After the first half of the year, it appears the recovery in the housing market is starting to find its footing.

This gradual leveling has been fueled by growth in employment, and in particular growth in full time jobs. Improved job prospects, combined with an increase in the number of people moving to Calgary, will give lift to our housing market for the remainder of this year and into the

next,” says Stante.

 

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Calgary, February 1, 2011
 

– Single family home sales in the City of Calgary edged upwards month-over-month and showed the first yearover-year increase since April  2010, according to figures released today by CREB® (Calgary Real Estate Board).

 

The number of single family home sales in the month of January 2011 were 787, compared with December 2010, when sales were 734— an increase of about 7 per cent. The number of condominium sales for the month of January 2011 was 297. This was down from the 320 condominium transactions recorded in December 2010.
 
Year-over-year, the number of single family homes sold in January 2011 in the city of Calgary increased by just over 3 per cent. In January 2010, single family home sales totaled 762. Condominium sales saw a decrease of 21 per cent from the same time a year ago. In January 2010, condominium sales were 376.
 
“More affordable housing will continue to attract homebuyers to the inner-city, particularly as employment in the city of Calgary continues to improve,” says Sano Stante, president of CREB®. “Single family homes in the city are currently driving this gradual recovery, and we are seeing an uptick in the sale of homes below the $350,000 price point. This may suggest more first time homebuyers are entering the market, providing the fuel needed for a sustained housing recovery.”
 
The average price of a single family home in the city of Calgary in January 2011 was $454,287, showing a 3 per cent increase from December 2010, when the average price was $441,341, and a 3 per cent increase from January 2010, when the average price was $441,217. The average price of a condominium in the city of Calgary in January 2011 was $287,954, showing a 2 per cent increase from December 2010, when the average price was $282,768 and a 2 per cent increase over last year, when the average price was $282,639.
 
The median price of a single family home in the city of Calgary for January 2011 was $390,000, showing a slight increase from December 2010 when the median price was $389,000. This was a 2 per cent decrease from January 2010, when the median price was $398,000.
 
The median price of a condominium in January 2011 was $255,000, showing a 1 per cent decrease from December 2010, when the median price was $258,500, and a 4 per cent decrease from January 2010, when it was $265,000.
 
“The recovery in 2011 will be incremental and gradual. Nonetheless, at the moment Calgary is offering buyers a great deal of affordability, low interest rates and a large selection of inventory,” says Stante. “Overall the first quarter of 2011 will show modest improvements in sales which will lay the foundation for the return to a more balanced market,” he adds.
 

Single family listings in the city of Calgary added for the month of January 2011 totaled 1958, an increase of 169 per cent from December 2010 when 728 new listings were added, and showing an increase of 7 per cent from January 2010, when 1822 new listings came to the market.

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It was disappointing to see prices and home sales slide again last month after a slight increase in September.  Home sales in the city of Calgary were down month-over-month in October 2010. The number of single family homes sold in October dropped 7% from September.

Buyers are still remaining cautious, keeping the market soft.  The year over year sales continued to decline in October. 

The average prices of single family homes in the city of Calgary in October 2010 decreased 3% from September 2010, when the average price was $460,278, and a 4 per cent decrease from October 2009, when the average price was $462,465.

The fact remains that the market is still soft and sellers need to be cognizant of this as it affects what they can reasonably expect to list their homes for if deciding to sell.  

On the up side, there were 22% fewer listings of homes in October than September, lowering inventory (number of homes available for sale) which in the long run will help to balance the market.

These stats were released on November 1st by the Calgary Real Board (CREB ®).

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Hello everyone!

Market Update!  A bit of good news!!

For the first time in many months there appears to be a turnaround in the Calgary Housing Market!  The Calgary Real Estate Board just released the stats for September and while the changes are modest, it is the first uptick in the Calgary market since April.

In short, the number of houses available for sale in the Calgary market has fallen, but the number of sales of homes has increased for the first time in six months.  Along with the increase in the number of homes sold a significant indicator of possible change is that the average median price of homes sold from August to September increased by almost $15,000.00.  If you would like to see the actual stats feel free to send me an email requesting a copy of the CREB Stats and I’ll forward the information to you in an email attachment.

In the homes I have had listed, I have noted and increased number of showings over the last few weeks as well.  While all these indicators are modest, it is certainly a refreshing change from the six months of steady downturn we have been experiencing, and appears to show that the real estate market is beginning to come to life again.

iPhone/Android App Update

I appreciate everyone who has downloaded my iPhone App to search the Calgary MLS system.  It has become quite a popular application.  Don’t be afraid to explore everything it has to offer, and if you have any questions or requests about a property, you can click on the links provided in the listings on the app to notify me and I will be happy to get back to you right away.  Keep in mind that if you sign into the VOW on HouseHuntingAdventures.com it opens up a special account for you where you can save all your home searches for comparables and once set up, you can do the same from your iPhone or Android as well.   If you have any questions, just call!

New to Canada?

I have many clients who are new to Canada who I have guided in their real estate adventures and I understand much of what it is like when coming into a new country.  I experienced coming to Canada, not knowing the languages here, first moving to Quebec and learning the French language, then to Calgary and learning English (Czech is my home language).  The challenges were difficult, but also a great character builder for me, especially while raising three children on my own.  I truly understand all the frustration with moving and setting down roots.  My desire is to help anyone who is a client of mine to make their transition as easy and cost manageable as possible.

 Keep it Drama Free!

I can really empathize with anyone when it comes to moving and all the related stresses and headaches. I’ve been there and done that on my own with my children, many times.  Every move made me a little wiser and I became an organizational wizard!  I understand all about moving a family, and the financial stresses and strains that can ensue.

Through my personal experiences as well as my experience as a REALTOR©, I have compiled a wonderful list of resources;  from excellent mortgage brokers who are very talented at locating great mortgage rates and helping you to qualify, to home inspectors  capable ensuring nothing is missed when you are looking to purchase a new home.

Please let me know if I can be of service to you.  Even if you are just at the research stage in locating a new home, or you simply would like to have a current market evaluation done on your home to determine what your next step should be, I’m here for you.  Please don’t hesitate to call me at any time. 

My personal cell phone number is 403-399-0809, or if you prefer, my personal Email of Natasha@HouseHuntingAdventures.com.

Wishing you a wonderful Thanksgiving!

 

Natasha

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By Mario Toneguzzi, Calgary Herald August 25, 2010

 

A high inventory of homes for sale combined with a softening demand from potential homebuyers is starting to put downward pressure on Calgary MLS prices.
 
Preliminary and unofficial data for August month-to-date indicates prices are dropping from levels of the past few months in both the single-family and condominium market.
 
"We have almost the same number of buyers that we had in December but we have so many more listings," said Gary MacLean, a realtor with Re/Max Real Estate Central. "It's like having a Safeway that got two times as big but only has the same number of customers coming in the door and in order to get rid of the inventory they have to reduce the prices.
 
"It's a supply and demand issue. There's an oversupply of houses not only here but all across Canada and the number of buyers are decreasing."
 
For example, at the end of December one of every 1.6 houses listed for sale were selling. In July, that ratio jumped to one for every 6.6 listings. The month-end inventory of properties for sale in Calgary metro at the end of December was 3,258. It was 7,982 at the end of July.
 
MacLean said the inventory is starting to shrink but it's not as a result of increasing sales. Many people have simply taken their homes off the market.
 
According to preliminary, unofficial data on the website of realtor Mike Fotiou, of First Place Realty, there have been 661 single-family home MLS sales in Calgary for an average price of $441,469 month-to-date until Tuesday.
 
In July for the entire month, there were 915 sales for an average of $464,655 and in August 2009 there were 1,277 sales for an average of $454,130.
 

The average MLS sale price peaked this year in May at $483,240.

The condominium market is showing a similar story with sales so far this month at 271 for an average price of $283,485. In July, there were 396 condo transactions averaging $291,168 and in August 2009 there were 632 sales for an average price of $283,330.
 

The average MLS sale price for a condo peaked this year in May as well at $304,662.

Diane Scott, president of the Calgary Real Estate Board, said supply and demand is playing a role on current average prices but there's also the factor of luxury home sales.

"Homes sold over $1 million are down in numbers from last year for the same period," she said. "June to August last year we had 98 sales over $1 million. This year we've had 87 ... That will drive the average price down as well for sure."
 

On Wednesday, the Teranet-National Bank Composite House Price Index showed Calgary was lagging behind other major Canadian centres in the rate of change for home prices.

The index is estimated by tracking observed or registered home prices over time using data collected from public land registries and all dwellings that have been sold at least twice are considered in the calculation of the index.
 
The report said in June Calgary prices rose by 0.2 per cent on a monthly basis behind Ottawa (2.7 per cent), Toronto (2.4 per cent), Montreal (1.4 per cent), Halifax (1.3 per cent) and Vancouver (0.8 per cent). The national average was 1.5 per cent, the 14th consecutive month of increases.
 
On a year-over-year basis, the national average was 13.6 per cent growth led by Vancouver at 16.3 per cent and followed by Toronto (16.2 per cent), Ottawa (12.0 per cent), Montreal (8.7 per cent), Calgary (8.3 per cent) and Halifax (7.1 per cent).
 

mtoneguzzi@theherald.canwest.com



Read more: http://www.calgaryherald.com/business/real-estate/High+inventory+cooling+sales+pressure+house+prices/3440610/story.html#ixzz0yyLPwgI0
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By Mario Toneguzzi, Calgary Herald September 2, 2010

An increase in active listings, combined with a cooling in housing demand, has started to push prices down in Calgary's residential real estate market.
 
Data released Wednesday by the Calgary Real Estate Board show single-family home sales fell by just over 32 per cent in August compared with a year ago while condominium transactions plunged by more than 42 per cent.
 

And the average MLS sale price in both markets dropped from what they were in July.

"If (buyers) don't have to buy they're just not doing it right now. There's just too much unrest," said CREB president Diane Scott.
 
"We know the traffic in the open houses has picked up in the last two weeks. We've been monitoring it very closely and the traffic is there, but the buyers are just a little leery."
 
Scott attributes that cautious sentiment to negative economic news and reports continuing to come before the public which create plenty of uncertainty in the marketplace.
 

"It's the economic situation that we happen to find ourselves in and the negative reports that keep popping up and buyers are kind of standing back, thinking it's going to go down lower," she added.

According to CREB, there were 867 single-family home sales in the city in August, down from August 2009's 1,277 sales and slightly down from the 915 sales recorded the previous month.
 
The average MLS sale price for a single-family home fell to $445,617, down 4.1 per cent from July and also off 1.9 per cent from a year ago. The year-over-year decline was the first month since July 2009 in which single-family home prices were lower than the previous year.
 
In the condominium market, sales dropped from last year as 364 properties were sold in Calgary for an average price of $286,384. The average price decreased by 1.6 per cent from July, but was up 1.1 per cent from August 2009.
 
"The rise in mortgage rates, more prudent lending practices and weaker net migration has contributed to the decline in sales," said Richard Cho, senior market analyst for Calgary for Canada Mortgage and Housing Corp. "In addition, the pent-up demand that helped fuel sales activity earlier in the year has also eased.
 
"In the last several months we have seen an uptick in the number of homes being listed on the market, providing consumers more choice and time. This, combined with the moderation in sales, has moved the market into buyers' conditions, softening price growth."
 
The month-end inventory of single-family homes for sale was 5,046 at the end of August, up from 3,296 in August 2009.
 
The month-end inventory of listings in the condo market was 2,255 in August, increasing from 1,479 last year.
 
Scott said the elevated level of listings plus the slowdown in sales is bound to have an impact on the average sale price.
 
The monthly peak for MLS sale prices was in May this year with single-family homes selling for an average of $483,240 and condos selling for $304,662.
 
"It's a downward type of trend. It's certainly not drastic but it is downward that I think we're going to see probably for the rest of the year," said Scott. "I think we'll have a little bit more activity as for the number of sales in September. Typical. It's seasonal and I think we'll see that in September."
 
In the MLS market of towns outside Calgary, sales dropped by just over 23 per cent to 312 from 406 a year ago and the average sale price increased by 0.3 per cent to $355,238 from $354,175.
 
The country residential market, which includes acreages, saw sales decrease by just under 17 per cent to 50 from 60 in August 2009 while the average sale price dropped by just over two per cent to $747,580.
 

mtoneguzzi@theherald.canwest.com

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Calgary Home Sales Continue To Slide



Read more: http://www.calgaryherald.com/health/Calgary+housing+sales+tumble/3472287/story.html#ixzz0yyMrfLrE
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Calgary Market Update for September 1, 2010
- courtesy of the Calgary Real Estate Board
 
Home sales in the city of Calgary continued to trend lower in the month of August, according to figures released today by the Calgary Real Estate Board (CREB®).

 

The number of single family homes sold in August 2010 in the city of Calgary was down 32 per cent from the same time a year ago, and condominium sales saw a decrease of 42 per cent from the same time a year ago.

 

August 2010 saw 867 single family homes sold in the city of Calgary. This is a decrease of 5 per cent

from 915 sales in July 2010. In August 2009, single family home sales totalled 1,277. The number of

condominium sales for the month of August 2010 was 364. This was a decrease of 8 per cent from the 396 condominium transactions recorded in July 2010.
 
In August 2009, condominium sales were 632. “Calgary’s housing market has been undergoing a
measured correction over the past 4 to 5 months. Sales are trending lower as a result of a increase in first time home buyers entering the market and a decline in pent up demand following a strong post-recession recovery,” says Diane Scott, president of CREB®.
 

“There has been much talk recently about the potential for a housing bubble in Canada--but the economic fundamentals at play make this scenario unlikely for Calgary. What we are seeing is an adjustment to higher levels of inventory and a shift to a buyer’s market.”

 

“A slower than anticipated pace of mortgage rate hikes and continued improvements in  employment are more likely to bring stability rather than volatility into Calgary’s housing market as we move into 2011, ” adds Scott.
 
The average price of a single family home in the city of Calgary in August 2010 was $445,617, showing a 4 per cent decrease from July 2010, when the average price was $464,655, and a decrease of 2 per cent from August 2009, when the average price was $454,130.
 

The average price of a condominium in the city of Calgary in August 2010 was $286,384, showing a 2 per cent decrease from July 2010, when the average price was $291,168 and a 1 per cent increase over last year, when the average price was $283,330. 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.

 
“We expect a period of correction will continue into the fall of this year. Prices may sag in the short-term and level off as we move into 2011,” says Scott. “Homebuyers and sellers should keep in mind that market trends are unique even throughout the wider Calgary region.
 
A case in point is the relative strength of Calgary’s town and country market, where sales have remained at 2009 levels. Homebuyers and sellers should speak to a REALTOR® to better understand the opportunities in our current market,” says Scott.

 

The median price of a single family home in the city of Calgary for August 2010 was $395,000, showing a 1 per cent decrease from July 2010 and August 2009, when the median price was $400,000. The median price of a condominium in August 2010 was $260,000, showing a 3 per cent decrease from July 2010, when the median price was $268,000, and no change from

August 2009, when it was the same – $260,000.
 

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.

 

Single family listings in the city of Calgary added for the month of August 2010 totalled 1,960, an increase of less than 1 per cent from July 2010 when 1,942 new listings were added, and showing an increase of 3 per cent from August 2009, when 1,910 new listings came to the market.
 

Condominium new listings in the city of Calgary added for August 2010 were 808, down 9 per cent

from July 2010, when the MLS® saw 890 condo listings coming to the market. This is a decrease of 3 per cent from August 2009, when new condominium listings added were 832.
 

“Total month end inventory for the wider Calgary region is down marginally when compared to July—a trend we expect will continue in the coming months.

 

New listings are also likely to recede in the coming months in response to slowing sales,” adds Scott.

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Following info from the Calgary Real Estate Board

 

Calgary, August 3, 2010 –

 
The summer cool down in Calgary’s housing market continued in the month of July, according to figures released today by the Calgary Real Estate Board (CREB®).
 

 

The number of single family homes sold in July 2010 in the city of Calgary was down 42 per cent

from the same time a year ago, and condominium sales saw a decrease of 44 per cent from the same time a year ago.

  

July 2010 saw 915 single family homes sold in the city of Calgary. This is a decrease of 14 per cent from 1,061 sales in June 2010. In July 2009, single family home sales totalled 1,585. The number of condominium sales for the month of July 2010 was 396. This was a decrease of 11 per cent from the 445 condominium transactions recorded in June 2010.
  
In July 2009, condominium sales were 702.  “Calgary’s housing market is cooling off after its

record-setting pace in the post-recession period. This slow-down is not all that surprising in the face of tighter mortgage regulations and rising interest rates. The post-recession rally we saw in the summer of 2009 was unique and that pace couldn’t be sustained,” says Sano Stante, CREB

® president elect.

  

“The sense of urgency seen last summer, fall and winter in the lead-up to tighter mortgage-lending

measures has diminished,” says Stante. “Rising mortgage rates and increased inventories will be

the primary head-wind facing Calgary’s housing market, but improving job prospects will offer some tail winds in the latter half of 2010 and into 2011.”
  

The average price of a single family home in the city of Calgary in July 2010 was $464,655, showing a 4 per cent decrease from June 2010, when the average price was $481,964, and showing an increase of 6 per cent from July 2009, when the average price was $436,782. The average price of a condominium in the city of Calgary was $291,168, showing no significant

change from June 2010, when the average price was $292,238 and a 2 per cent increase over last year, when the average price was $285,032. 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.
  
“We are seeing relative stability in our average and median prices for the Calgary market,” says Stante. “A gradual return to moderate interest rates will not trigger any kind of steep decline in prices in our housing market. Prices may soften in select markets where inventory has bulked up, but for the most part they will remain relatively sticky as the economy improves.”
  
“Nonetheless with the combination of historically low interest rates and a large inventory of homes, there are some great buys out there—particularly in areas where comparable stock is ample such as the condominium and multi-family market. This presents a great opportunity to get into the market or to trade up,” adds Stante.
  
The median price of a single family home in the city of Calgary for July 2010 was $400,000, showing a 5 per cent decrease from June 2010, when the median price was $418,900, and a 3 percent increase from July 2009, when the median price was $390,000.
 
The median price of a condominium in July 2010 was $268,000, showing a 1 per cent decrease from June 2010, when the median was $269,900. That’s up 2 per cent from July 2009, when the median price was $263,000.
  

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.

  

There was a slowdown in the number of Calgarians putting homes up for sale in the month of July.

Single family listings in the city of Calgary added for the month of July totalled 1,942, a decrease of 29 per cent from June 2010 when 2,733 new listings were added, and showing a decrease of 7 per cent from July 2009, when 2,089 new listings came to the market.
  

Condominium new listings in the city of Calgary added for July 2010 were 890, down 18 per cent

from June 2010, when the MLS® saw 1,084 condo listings coming to the market. This is a decrease of 3 per cent from July 2009, when new condominium listings added were 918.
 

“Indeed Alberta and Calgary’s economic recovery is lagging behind the rest of the country right now. But on the bright side we see this trend reversing itself as we move into 2011. We expect Alberta to lead in economic growth and recovery—outperforming much of the country in 2011,” says Stante.

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Free Real Estate Apps to Amp Up Your Home Search!

Modern technology has given us wonderful tools that can make our lives easier in so many ways and Real Estate is no different. 
 
Most people know they can search the MLS® on the website of their favourite REALTOR®, however you have more power at your fingertips and on your iPhone, iPad or Android Smartphone than you probably realized!  Here is some info on a very cool, free application that once installed, combines real time GPS capability with the Calgary and surrounding district MLS® system, allowing you to search thousands of listings while on the move, quickly, easily and instantly!  
 
What’s so unique about this?  If you are a serious home buyer, it brings an entirely new dimension to looking for your new home.  Once activated, the system uses GPS technology to create a map showing you all current listings within a 1 kilometre radius of your current location. 
 
See a home you like while you are out for the evening and would like to know the listing details?  Open your mobile MLS® app and click on the pin indicating the home on the map. The price, listing details including photographs and all related information is there for you instantly.  If you would like to know more about the listing or schedule an appointment to view, simply click on the Inquire button or call the phone number provided.  It’s as simple as that. 
 
To obtain the app, simply visit HouseHuntingAdventures.com, click on the Mobile Web App and follow the installation guide.

Your Own Personal and Private Online Real Estate Office

Your mobile app can also be combined with your online VOW Virtual Office Website, another freely available service.  People are often hesitant to “sign up” because they are unaware of what it is, and are concerned about personal privacy, however sign up simply allows the system to create file space for a system personalized to you, allowing you to take advantage of more than just the simple MLS ® search engine.
 
Setting up your personalized system is quick and easy, and provides you with the ability to do custom searches for homes or properties.  When you sign up for a free account the system creates your personal real estate virtual office where you can organize your home research, organize folders for your searches and much more.  You can save your searches and compile lists of potential homes for you to compare quickly and easily. It's your own personal MLS® service, customized specifically to you and your needs. 
 
 If you would like to set up your own personal space, visit HouseHuntingAdventures.com/vow.html and click the sign up button to set up your private online Real Estate office.  The service is free, easy to set up and use.


 

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Stable Pricing Providing Opportunities for Buyers

 

Calgary, December 1, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), Calgary residential sales in November increased eight per cent over last year, at 17,538 after the first 11 months of the year. 

 

While sales activity tends to taper off in the winter months, so far this year Calgary area sales remain significantly stronger than levels recorded last year. Single family home sales totaled 962 for the month, an increase of eight per cent from November 2010. Meanwhile, year-to-date sales totaled 12,464, a 10 per cent increase over last year. Over the long term, however, sales remained a tepid 17 per cent below the 10 year average. 

 

“Despite any global economic cautions, consumers are actively seeking well priced listings in the market, a reflection of their positive long term outlook for the city,” says Sano Stante, president of CREB®. “Following two years of employment losses, the current growth in jobs is translating into improvements in the housing sector and a more optimistic consumer.”

 

November listings have edged down over last year’s levels, decreasing by two per cent. Lower listings combined with the increase in sales helped reduce the months of inventory to less than four months. 

 

The year-to-date average and median price of single family homes were a respective $467,140 and $406,500. Overall, prices remain relatively flat compared to last year. 

 

“This stable pricing provides an opportunity for buyers in our market. The addition of historically low interest rates, combined with a good selection of inventory, makes it a trifecta,” Stante says. “With positive wage growth in the wind, this is a signal, and a reminder, that this market opportunity will not remain forever.”

 

Condominium sales for the first 11 months of the year totaled 5,074, a five per cent rise over the same period last year. Inventory levels declined to 1,676 units, helping push down the months of supply. 

 

“The rise in condominium sales can be attributed to the confidence in the market, and is typical of this phase of a normal market recovery,” says Stante.

 

Condominium year-to-date average and median prices in 2011 were $287,545 and $261,500, respectively, a decline over the first 11 months of 2010, mostly due to increased sales in units priced under $200,000. 

 

“Calgary continues to record impressive employment growth and long term fundamentals remain strong,” Stante concludes. “The strength in our economy, combined with affordability levels that outperform most major centers, will continue to attract migrants to the city and spur further growth in our Calgary housing market.”

 

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Selling Your Home For Market Value!
 
Even in today’s market, you don’t have to under value your home in order to generate buyers.  At the same time, if you want your home to sell in a reasonable amount of time, it is important that you don’t price your home over market value either.  In the end, it is entirely up to you how you price your home, but it is important to determine what outcome you want to have and what your goals are when determining what your final listing price should be.
 

Some clients prefer to list on the high side to test the market in the hopes they will make more money from the sale of their home. In the end, the home stays listed for many months with few if any showings, and no movement because the home owner has chosen to over price their home.

In the end, if you want to sell your home and progress to the next stage of your real estate goals, it is important to price your home fairly, with a marketable price that is competitive, but without under valuing your home just to get a quick sale.
 
Pricing your home fairly is always a fine balance!  In the end, the correct selling price of your home is the highest price the current market will bear. Your home will always sell for the current market value if you are patient, price it right and have a REALTOR®  who is working in YOUR best interest.
 
I am frequently contacted by home owners who request a free market evaluation of their home. More often than not, I am requested to provide an online evaluation or Comparative Market Analysis and to email the report. 
 
Unfortunately this does not provide the home owner with information that is accurate enough to make a proper determination of the true value of their home, and in many cases the estimate of the value of their home will be undervalued.
 
For this reason, I prefer to do more than providing a standard comparative market analysis. Consider the following questions:
 
Do you know how much your home has appreciated over the last few years?  Do you know how much CASH is tied up in your home?  What your REAL equity is?
 
Serious sellers should request an on site evaluation to determine the most accurate potential value of your home.
 
Why?  Because any  CMA provided by using the standard tools available to Real Estate professionals cannot take into account what the REALTOR® is able to add into the equation by attending and viewing specific upgrades, taking accurate measurements and comparing what they see on site to other homes they have been to that are in a similar category as your home.  For this reason, an on site Maximum Home Value Audit provides you with a more accurate calculation of what the fair market value is for your home.
 

 

 

 

 

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First year-over-year increase in monthly condominium sales since April 2010

 

Calgary, July 4, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), residential sales surged in the month of June 2011 to 1,979 units. While this indicates a third more sales than June 2010, the year-todate increase proved a moderate 2 per cent. Strong monthly increases does not imply a housing boom, as it is important to put into perspective that sales

activity remains below long term averages. While the single family market has shown signs of improvement throughout the first half of this year, this is the first time since April 2010 that condominium sales have recorded a year-over year increase.

 

“Improved housing demand is being fueled by a younger demographic and, with the affordability of homes in Calgary, we are continuing to see young Calgarians pursue ownership over rentals,” says Sano Stante, president of CREB®.

 

“Historically, Calgary’s average family income has been higher than the national average and a younger more mobile demographic has been attracted to good paying professional jobs in Calgary. As the economy continues to build momentum, we expect this same trend will support a balanced and healthy

housing market in the second half of 2011 and into 2012.”

 

With 581 sales for the month of June 2011, the condominium market improved by 31 per cent over June of 2010, however year-to-date figures show a 5 per cent decrease over the same period last year.

 

“Condo sales bounced back this month, and we now have less than four months of supply on the market. Stronger condo sales, combined with a decline in inventory, will lend more balance to this market in the months to come,” says Stante.

 

After the first half of the year, average prices of condominiums are still slightly lower than levels recorded last year, as more buyers bought condominiums under $200,000 in 2011 compared to 2010 for the same period.
 

“Buyers in this market expect value and many are taking advantage of some affordable buys in both the single family and condo markets. It highlights using a skilled REALTOR® to properly price your home for your unique market area,” says Stante.

 

The single family market recorded 1,398 sales in the month of June 2011. This is an increase of 32 per cent when compared to June 2010 when 1,059 single family homes sold in the city of Calgary. With a total of 7,231 sales after the first half of the year, year-to-date single family sales are 6 per cent higher than last year.

 

“While new listings are still lower than levels recorded last year, the rate of decline has eased. With the market shifting to more balanced conditions in recent months, sellers are feeling more confident to list their home. Overall our absorption rate has remained relatively stable, staving off any significant rise in

prices,” says Stante.

 

Year-to-date average price of a single family home in Calgary is $472,330, while the median price is $410,000, virtually unchanged over levels recorded in the previous year. The distribution of sales by price range has not shown any significant shift compared to last year, pointing to continued stability in the market.
 

“After the first half of the year, it appears the recovery in the housing market is starting to find its footing.

This gradual leveling has been fueled by growth in employment, and in particular growth in full time jobs. Improved job prospects, combined with an increase in the number of people moving to Calgary, will give lift to our housing market for the remainder of this year and into the

next,” says Stante.

 

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Calgary, February 1, 2011
 

– Single family home sales in the City of Calgary edged upwards month-over-month and showed the first yearover-year increase since April  2010, according to figures released today by CREB® (Calgary Real Estate Board).

 

The number of single family home sales in the month of January 2011 were 787, compared with December 2010, when sales were 734— an increase of about 7 per cent. The number of condominium sales for the month of January 2011 was 297. This was down from the 320 condominium transactions recorded in December 2010.
 
Year-over-year, the number of single family homes sold in January 2011 in the city of Calgary increased by just over 3 per cent. In January 2010, single family home sales totaled 762. Condominium sales saw a decrease of 21 per cent from the same time a year ago. In January 2010, condominium sales were 376.
 
“More affordable housing will continue to attract homebuyers to the inner-city, particularly as employment in the city of Calgary continues to improve,” says Sano Stante, president of CREB®. “Single family homes in the city are currently driving this gradual recovery, and we are seeing an uptick in the sale of homes below the $350,000 price point. This may suggest more first time homebuyers are entering the market, providing the fuel needed for a sustained housing recovery.”
 
The average price of a single family home in the city of Calgary in January 2011 was $454,287, showing a 3 per cent increase from December 2010, when the average price was $441,341, and a 3 per cent increase from January 2010, when the average price was $441,217. The average price of a condominium in the city of Calgary in January 2011 was $287,954, showing a 2 per cent increase from December 2010, when the average price was $282,768 and a 2 per cent increase over last year, when the average price was $282,639.
 
The median price of a single family home in the city of Calgary for January 2011 was $390,000, showing a slight increase from December 2010 when the median price was $389,000. This was a 2 per cent decrease from January 2010, when the median price was $398,000.
 
The median price of a condominium in January 2011 was $255,000, showing a 1 per cent decrease from December 2010, when the median price was $258,500, and a 4 per cent decrease from January 2010, when it was $265,000.
 
“The recovery in 2011 will be incremental and gradual. Nonetheless, at the moment Calgary is offering buyers a great deal of affordability, low interest rates and a large selection of inventory,” says Stante. “Overall the first quarter of 2011 will show modest improvements in sales which will lay the foundation for the return to a more balanced market,” he adds.
 

Single family listings in the city of Calgary added for the month of January 2011 totaled 1958, an increase of 169 per cent from December 2010 when 728 new listings were added, and showing an increase of 7 per cent from January 2010, when 1822 new listings came to the market.

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It was disappointing to see prices and home sales slide again last month after a slight increase in September.  Home sales in the city of Calgary were down month-over-month in October 2010. The number of single family homes sold in October dropped 7% from September.

Buyers are still remaining cautious, keeping the market soft.  The year over year sales continued to decline in October. 

The average prices of single family homes in the city of Calgary in October 2010 decreased 3% from September 2010, when the average price was $460,278, and a 4 per cent decrease from October 2009, when the average price was $462,465.

The fact remains that the market is still soft and sellers need to be cognizant of this as it affects what they can reasonably expect to list their homes for if deciding to sell.  

On the up side, there were 22% fewer listings of homes in October than September, lowering inventory (number of homes available for sale) which in the long run will help to balance the market.

These stats were released on November 1st by the Calgary Real Board (CREB ®).

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Hello everyone!

Market Update!  A bit of good news!!

For the first time in many months there appears to be a turnaround in the Calgary Housing Market!  The Calgary Real Estate Board just released the stats for September and while the changes are modest, it is the first uptick in the Calgary market since April.

In short, the number of houses available for sale in the Calgary market has fallen, but the number of sales of homes has increased for the first time in six months.  Along with the increase in the number of homes sold a significant indicator of possible change is that the average median price of homes sold from August to September increased by almost $15,000.00.  If you would like to see the actual stats feel free to send me an email requesting a copy of the CREB Stats and I’ll forward the information to you in an email attachment.

In the homes I have had listed, I have noted and increased number of showings over the last few weeks as well.  While all these indicators are modest, it is certainly a refreshing change from the six months of steady downturn we have been experiencing, and appears to show that the real estate market is beginning to come to life again.

iPhone/Android App Update

I appreciate everyone who has downloaded my iPhone App to search the Calgary MLS system.  It has become quite a popular application.  Don’t be afraid to explore everything it has to offer, and if you have any questions or requests about a property, you can click on the links provided in the listings on the app to notify me and I will be happy to get back to you right away.  Keep in mind that if you sign into the VOW on HouseHuntingAdventures.com it opens up a special account for you where you can save all your home searches for comparables and once set up, you can do the same from your iPhone or Android as well.   If you have any questions, just call!

New to Canada?

I have many clients who are new to Canada who I have guided in their real estate adventures and I understand much of what it is like when coming into a new country.  I experienced coming to Canada, not knowing the languages here, first moving to Quebec and learning the French language, then to Calgary and learning English (Czech is my home language).  The challenges were difficult, but also a great character builder for me, especially while raising three children on my own.  I truly understand all the frustration with moving and setting down roots.  My desire is to help anyone who is a client of mine to make their transition as easy and cost manageable as possible.

 Keep it Drama Free!

I can really empathize with anyone when it comes to moving and all the related stresses and headaches. I’ve been there and done that on my own with my children, many times.  Every move made me a little wiser and I became an organizational wizard!  I understand all about moving a family, and the financial stresses and strains that can ensue.

Through my personal experiences as well as my experience as a REALTOR©, I have compiled a wonderful list of resources;  from excellent mortgage brokers who are very talented at locating great mortgage rates and helping you to qualify, to home inspectors  capable ensuring nothing is missed when you are looking to purchase a new home.

Please let me know if I can be of service to you.  Even if you are just at the research stage in locating a new home, or you simply would like to have a current market evaluation done on your home to determine what your next step should be, I’m here for you.  Please don’t hesitate to call me at any time. 

My personal cell phone number is 403-399-0809, or if you prefer, my personal Email of Natasha@HouseHuntingAdventures.com.

Wishing you a wonderful Thanksgiving!

 

Natasha

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By Mario Toneguzzi, Calgary Herald August 25, 2010

 

A high inventory of homes for sale combined with a softening demand from potential homebuyers is starting to put downward pressure on Calgary MLS prices.
 
Preliminary and unofficial data for August month-to-date indicates prices are dropping from levels of the past few months in both the single-family and condominium market.
 
"We have almost the same number of buyers that we had in December but we have so many more listings," said Gary MacLean, a realtor with Re/Max Real Estate Central. "It's like having a Safeway that got two times as big but only has the same number of customers coming in the door and in order to get rid of the inventory they have to reduce the prices.
 
"It's a supply and demand issue. There's an oversupply of houses not only here but all across Canada and the number of buyers are decreasing."
 
For example, at the end of December one of every 1.6 houses listed for sale were selling. In July, that ratio jumped to one for every 6.6 listings. The month-end inventory of properties for sale in Calgary metro at the end of December was 3,258. It was 7,982 at the end of July.
 
MacLean said the inventory is starting to shrink but it's not as a result of increasing sales. Many people have simply taken their homes off the market.
 
According to preliminary, unofficial data on the website of realtor Mike Fotiou, of First Place Realty, there have been 661 single-family home MLS sales in Calgary for an average price of $441,469 month-to-date until Tuesday.
 
In July for the entire month, there were 915 sales for an average of $464,655 and in August 2009 there were 1,277 sales for an average of $454,130.
 

The average MLS sale price peaked this year in May at $483,240.

The condominium market is showing a similar story with sales so far this month at 271 for an average price of $283,485. In July, there were 396 condo transactions averaging $291,168 and in August 2009 there were 632 sales for an average price of $283,330.
 

The average MLS sale price for a condo peaked this year in May as well at $304,662.

Diane Scott, president of the Calgary Real Estate Board, said supply and demand is playing a role on current average prices but there's also the factor of luxury home sales.

"Homes sold over $1 million are down in numbers from last year for the same period," she said. "June to August last year we had 98 sales over $1 million. This year we've had 87 ... That will drive the average price down as well for sure."
 

On Wednesday, the Teranet-National Bank Composite House Price Index showed Calgary was lagging behind other major Canadian centres in the rate of change for home prices.

The index is estimated by tracking observed or registered home prices over time using data collected from public land registries and all dwellings that have been sold at least twice are considered in the calculation of the index.
 
The report said in June Calgary prices rose by 0.2 per cent on a monthly basis behind Ottawa (2.7 per cent), Toronto (2.4 per cent), Montreal (1.4 per cent), Halifax (1.3 per cent) and Vancouver (0.8 per cent). The national average was 1.5 per cent, the 14th consecutive month of increases.
 
On a year-over-year basis, the national average was 13.6 per cent growth led by Vancouver at 16.3 per cent and followed by Toronto (16.2 per cent), Ottawa (12.0 per cent), Montreal (8.7 per cent), Calgary (8.3 per cent) and Halifax (7.1 per cent).
 

mtoneguzzi@theherald.canwest.com



Read more: http://www.calgaryherald.com/business/real-estate/High+inventory+cooling+sales+pressure+house+prices/3440610/story.html#ixzz0yyLPwgI0
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By Mario Toneguzzi, Calgary Herald September 2, 2010

An increase in active listings, combined with a cooling in housing demand, has started to push prices down in Calgary's residential real estate market.
 
Data released Wednesday by the Calgary Real Estate Board show single-family home sales fell by just over 32 per cent in August compared with a year ago while condominium transactions plunged by more than 42 per cent.
 

And the average MLS sale price in both markets dropped from what they were in July.

"If (buyers) don't have to buy they're just not doing it right now. There's just too much unrest," said CREB president Diane Scott.
 
"We know the traffic in the open houses has picked up in the last two weeks. We've been monitoring it very closely and the traffic is there, but the buyers are just a little leery."
 
Scott attributes that cautious sentiment to negative economic news and reports continuing to come before the public which create plenty of uncertainty in the marketplace.
 

"It's the economic situation that we happen to find ourselves in and the negative reports that keep popping up and buyers are kind of standing back, thinking it's going to go down lower," she added.

According to CREB, there were 867 single-family home sales in the city in August, down from August 2009's 1,277 sales and slightly down from the 915 sales recorded the previous month.
 
The average MLS sale price for a single-family home fell to $445,617, down 4.1 per cent from July and also off 1.9 per cent from a year ago. The year-over-year decline was the first month since July 2009 in which single-family home prices were lower than the previous year.
 
In the condominium market, sales dropped from last year as 364 properties were sold in Calgary for an average price of $286,384. The average price decreased by 1.6 per cent from July, but was up 1.1 per cent from August 2009.
 
"The rise in mortgage rates, more prudent lending practices and weaker net migration has contributed to the decline in sales," said Richard Cho, senior market analyst for Calgary for Canada Mortgage and Housing Corp. "In addition, the pent-up demand that helped fuel sales activity earlier in the year has also eased.
 
"In the last several months we have seen an uptick in the number of homes being listed on the market, providing consumers more choice and time. This, combined with the moderation in sales, has moved the market into buyers' conditions, softening price growth."
 
The month-end inventory of single-family homes for sale was 5,046 at the end of August, up from 3,296 in August 2009.
 
The month-end inventory of listings in the condo market was 2,255 in August, increasing from 1,479 last year.
 
Scott said the elevated level of listings plus the slowdown in sales is bound to have an impact on the average sale price.
 
The monthly peak for MLS sale prices was in May this year with single-family homes selling for an average of $483,240 and condos selling for $304,662.
 
"It's a downward type of trend. It's certainly not drastic but it is downward that I think we're going to see probably for the rest of the year," said Scott. "I think we'll have a little bit more activity as for the number of sales in September. Typical. It's seasonal and I think we'll see that in September."
 
In the MLS market of towns outside Calgary, sales dropped by just over 23 per cent to 312 from 406 a year ago and the average sale price increased by 0.3 per cent to $355,238 from $354,175.
 
The country residential market, which includes acreages, saw sales decrease by just under 17 per cent to 50 from 60 in August 2009 while the average sale price dropped by just over two per cent to $747,580.
 

mtoneguzzi@theherald.canwest.com

- - -

Calgary Home Sales Continue To Slide



Read more: http://www.calgaryherald.com/health/Calgary+housing+sales+tumble/3472287/story.html#ixzz0yyMrfLrE
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Calgary Market Update for September 1, 2010
- courtesy of the Calgary Real Estate Board
 
Home sales in the city of Calgary continued to trend lower in the month of August, according to figures released today by the Calgary Real Estate Board (CREB®).

 

The number of single family homes sold in August 2010 in the city of Calgary was down 32 per cent from the same time a year ago, and condominium sales saw a decrease of 42 per cent from the same time a year ago.

 

August 2010 saw 867 single family homes sold in the city of Calgary. This is a decrease of 5 per cent

from 915 sales in July 2010. In August 2009, single family home sales totalled 1,277. The number of

condominium sales for the month of August 2010 was 364. This was a decrease of 8 per cent from the 396 condominium transactions recorded in July 2010.
 
In August 2009, condominium sales were 632. “Calgary’s housing market has been undergoing a
measured correction over the past 4 to 5 months. Sales are trending lower as a result of a increase in first time home buyers entering the market and a decline in pent up demand following a strong post-recession recovery,” says Diane Scott, president of CREB®.
 

“There has been much talk recently about the potential for a housing bubble in Canada--but the economic fundamentals at play make this scenario unlikely for Calgary. What we are seeing is an adjustment to higher levels of inventory and a shift to a buyer’s market.”

 

“A slower than anticipated pace of mortgage rate hikes and continued improvements in  employment are more likely to bring stability rather than volatility into Calgary’s housing market as we move into 2011, ” adds Scott.
 
The average price of a single family home in the city of Calgary in August 2010 was $445,617, showing a 4 per cent decrease from July 2010, when the average price was $464,655, and a decrease of 2 per cent from August 2009, when the average price was $454,130.
 

The average price of a condominium in the city of Calgary in August 2010 was $286,384, showing a 2 per cent decrease from July 2010, when the average price was $291,168 and a 1 per cent increase over last year, when the average price was $283,330. 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.

 
“We expect a period of correction will continue into the fall of this year. Prices may sag in the short-term and level off as we move into 2011,” says Scott. “Homebuyers and sellers should keep in mind that market trends are unique even throughout the wider Calgary region.
 
A case in point is the relative strength of Calgary’s town and country market, where sales have remained at 2009 levels. Homebuyers and sellers should speak to a REALTOR® to better understand the opportunities in our current market,” says Scott.

 

The median price of a single family home in the city of Calgary for August 2010 was $395,000, showing a 1 per cent decrease from July 2010 and August 2009, when the median price was $400,000. The median price of a condominium in August 2010 was $260,000, showing a 3 per cent decrease from July 2010, when the median price was $268,000, and no change from

August 2009, when it was the same – $260,000.
 

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.

 

Single family listings in the city of Calgary added for the month of August 2010 totalled 1,960, an increase of less than 1 per cent from July 2010 when 1,942 new listings were added, and showing an increase of 3 per cent from August 2009, when 1,910 new listings came to the market.
 

Condominium new listings in the city of Calgary added for August 2010 were 808, down 9 per cent

from July 2010, when the MLS® saw 890 condo listings coming to the market. This is a decrease of 3 per cent from August 2009, when new condominium listings added were 832.
 

“Total month end inventory for the wider Calgary region is down marginally when compared to July—a trend we expect will continue in the coming months.

 

New listings are also likely to recede in the coming months in response to slowing sales,” adds Scott.

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Following info from the Calgary Real Estate Board

 

Calgary, August 3, 2010 –

 
The summer cool down in Calgary’s housing market continued in the month of July, according to figures released today by the Calgary Real Estate Board (CREB®).
 

 

The number of single family homes sold in July 2010 in the city of Calgary was down 42 per cent

from the same time a year ago, and condominium sales saw a decrease of 44 per cent from the same time a year ago.

  

July 2010 saw 915 single family homes sold in the city of Calgary. This is a decrease of 14 per cent from 1,061 sales in June 2010. In July 2009, single family home sales totalled 1,585. The number of condominium sales for the month of July 2010 was 396. This was a decrease of 11 per cent from the 445 condominium transactions recorded in June 2010.
  
In July 2009, condominium sales were 702.  “Calgary’s housing market is cooling off after its

record-setting pace in the post-recession period. This slow-down is not all that surprising in the face of tighter mortgage regulations and rising interest rates. The post-recession rally we saw in the summer of 2009 was unique and that pace couldn’t be sustained,” says Sano Stante, CREB

® president elect.

  

“The sense of urgency seen last summer, fall and winter in the lead-up to tighter mortgage-lending

measures has diminished,” says Stante. “Rising mortgage rates and increased inventories will be

the primary head-wind facing Calgary’s housing market, but improving job prospects will offer some tail winds in the latter half of 2010 and into 2011.”
  

The average price of a single family home in the city of Calgary in July 2010 was $464,655, showing a 4 per cent decrease from June 2010, when the average price was $481,964, and showing an increase of 6 per cent from July 2009, when the average price was $436,782. The average price of a condominium in the city of Calgary was $291,168, showing no significant

change from June 2010, when the average price was $292,238 and a 2 per cent increase over last year, when the average price was $285,032. 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.
  
“We are seeing relative stability in our average and median prices for the Calgary market,” says Stante. “A gradual return to moderate interest rates will not trigger any kind of steep decline in prices in our housing market. Prices may soften in select markets where inventory has bulked up, but for the most part they will remain relatively sticky as the economy improves.”
  
“Nonetheless with the combination of historically low interest rates and a large inventory of homes, there are some great buys out there—particularly in areas where comparable stock is ample such as the condominium and multi-family market. This presents a great opportunity to get into the market or to trade up,” adds Stante.
  
The median price of a single family home in the city of Calgary for July 2010 was $400,000, showing a 5 per cent decrease from June 2010, when the median price was $418,900, and a 3 percent increase from July 2009, when the median price was $390,000.
 
The median price of a condominium in July 2010 was $268,000, showing a 1 per cent decrease from June 2010, when the median was $269,900. That’s up 2 per cent from July 2009, when the median price was $263,000.
  

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.

  

There was a slowdown in the number of Calgarians putting homes up for sale in the month of July.

Single family listings in the city of Calgary added for the month of July totalled 1,942, a decrease of 29 per cent from June 2010 when 2,733 new listings were added, and showing a decrease of 7 per cent from July 2009, when 2,089 new listings came to the market.
  

Condominium new listings in the city of Calgary added for July 2010 were 890, down 18 per cent

from June 2010, when the MLS® saw 1,084 condo listings coming to the market. This is a decrease of 3 per cent from July 2009, when new condominium listings added were 918.
 

“Indeed Alberta and Calgary’s economic recovery is lagging behind the rest of the country right now. But on the bright side we see this trend reversing itself as we move into 2011. We expect Alberta to lead in economic growth and recovery—outperforming much of the country in 2011,” says Stante.

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