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August 2011 Real Estate Newsletter
FROM LOUISE FULLER |
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Visit My Website to View Fantastic Canmore listings.
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Greetings!,
Sales for the month of July 2011 are as follows: Please remember these are averages only.
Single family: 8 sales, average sale price $652,037, average days on market 114 (DOM).
Half duplex: 2 sales, average sale price $932,500, average days on market 112 (DOM).
Townhouse: 7 sales, average sale price $412,285, average days on market 46 (DOM).
Apartment: 2 sales, average sale price $296,600, average days on market 118 (DOM).
Fourplex: 4 sales, average sale price $454,375, average days on market 165 (DOM).
Lots: 0 sales.
For specific details, please email or call and I would be happy to be of assistance.
Best Regards,
Louise Fuller |
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7, 1050 Cougar Creek Drive
Feature Listing
Great location, 3 bedrooms and garage!
Front row location, main level entry, mature trees! The main/entry level has kitchen, powder room, dining room (can be used as a 2nd sitting room area) and living room with fireplace. The kitchen has be partially updated with tile backsplash, stainless fridge and dishwasher and newer lighting. Upstairs has 3 bedrooms and a spacious bathroom measuring 10ftx9ft with double sinks, corner jetted tub and separate shower. Both the master bedroom and the main level rear deck enjoy mountain peak views. The lower level has single car garage and a fully finished den/office/gear room. ASKING $410,000
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| HOME SALES ON 'SOLID FOOTING' UP 2.6% | |
CREA reports gains in several Canadian cities in June
Financial Post July 16, 2011
Home sales rose by a seasonally adjusted 2.6 per cent in June from the previous month, a sign the housing market is on a "solid footing," the Canadian Real Estate Association said Friday.
Sales totalled 37,578 for the month, with activity remaining stable in Toronto. Gains were recorded in Victoria, Calgary and Montreal, as well as in the Ontario cities of Ottawa, London and Hamilton, CREA said.
However, monthly sales declined in Vancouver and the nearby Fraser Valley.
"The Canadian housing sector remains on a solid footing," said CREA chief economist Gregory Klump. "The rise in monthly home sales activity at the end of the second quarter, upbeat business sentiment and hiring intentions, and signs that the Bank of Canada is in no rush to raise interest rates bode well for home sales activity and prices going into the second half of 2011."
On an unadjusted basis, sales were up 10.8 per cent in June from the same month last year, while the national average home price rose 8.7 per cent from June 2010 to $372,700.
Meanwhile, national sales were down 4.7 per cent in the second quarter from the previous quarter.
"This in part reflects how new mortgage rules announced in January and implemented at the end of March pulled sales forward into the first quarter at the expense of sales activity in April and May," CREA said.
"Mortgage interest rates also rose in April and May, which may have moved some home buyers to the sidelines."
Sales in Vancouver were down 1.7 per cent in June, while Toronto saw a slight decline of 0.4 per cent. However, prices were up 9.5 per cent, to $475,386, year-over-year in Toronto and by 22.9 per cent to $808,867 in Vancouver.
In Ottawa, the average house price in June was $354,524, up eight per cent from June 2010.
"In Vancouver, prices continue to be skewed by sales at the very high end of the market, though CREA notes that activity in areas like West Vancouver and Richmond has eased since February, somewhat reducing the impact on average prices," said BMOCapital Markets economist Robert Kavcic. |
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| YOUNGER BUYERS FUEL RESURGENCE | |
Marty Hope, Calgary Herald
Young buyers continue to provide the fuel for the continuing resurgence of Calgary's resale housing market.
At one time between the late 1990s and the early 2000s, young people - mostly first-time buyers - accounted for something like 35 per cent of all homebuyers in and around the city.
While those statistics are no longer kept by anyone, anecdotal evidence from the Calgary Real Estate Board shows such buyers are back in the marketplace - and, in many cases, looking at condos because of the lower prices compared to single-family homes.
"Improved housing demand is being fuelled by a younger demographic and, with the affordability of homes in Calgary, we are continuing to see young Calgarians pursue ownership over rentals," says CREB president Sano Stante.
His comments came on the heels of the board's most recent activity report showing that sales of resale condos nearly matched those of single-family homes on a percentage basis.
There were 581 condo transactions for June, up 31 per cent compared to the same month a year ago - only one per cent behind the total for detached single-family homes.
"Condo sales bounced back in June and we now have less than four months supply," says Stante. "Stronger condo sales, combined with a decline in inventory, will lend more balance to this market in the months to come."
Much of the appeal of condos comes from their price relative to that of detached homes.
The average selling price in June of resale condos in Calgary was $296,501, compared to $479,580 for single-family homes.
In its monthly report, Canada Mortgage and Housing Corp. also noted an increase in construction of multi-family housing - most of which was condos.
Work started in June on 269 semi-detached homes, apartments and townhouses, up from 154 a year ago, says senior market analyst Richard Cho of CMHC.
Construction starts for "all three multi-family housing types last month outpaced 2010 levels," he says, adding that the market will likely continue to strengthen as the year progresses.
"To the end of June, multi-family starts reached 1,180 units, down just eight per cent from the first half of 2010," says Cho.
Getting back to the resale sector and younger buyers, the single-family housing part of that market has not been sloughing off.
In actual numbers, there were 1,398 sales in June, up from 1,059 the year before.
"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," says Stante. "As the economy continues to build momentum, we expect this same trend to support a balanced and healthy housing market in the second half of this year and into 2012."
For its part, CMHC has been calling for a stronger second half for both single- and multi-family home builders as the economy continues to strengthen, job creation picks up and migration of people to Calgary grows.
And you can bet younger buyers will make up a good portion.
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Thanks for reading and I will send you more info next month.
For all your real estate needs I am ready and willing to help you take that next, very important step.
Sincerely,
Louise Fuller
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