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September 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 August 2011 are as follows: Please remember these are averages only.
Single family: 5 sales, average sale price $786,000, average days on market 39 (DOM).
Half duplex: 2 sales, average sale price $567,000, average days on market 94 (DOM).
Townhouse: 5 sales, average sale price $484,960, average days on market 98 (DOM).
Apartment: 1 sale, average sale price $373,500, average days on market 15 (DOM).
Fourplex: 1 sales, average sale price $730,000, average days on market 1 (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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323 Hoodoo Crescent
Feature Listing
OPEN CONCEPT, NEWLY RENOVATED, VAULTS
Modern contemporary finish, totally renovated bungalow with 3+2 bedrooms. The main floor has a master bedroom with a walk-in closet and master ensuite as well as 2 additional bedrooms and a full bath. Lower level has a family/TV area, 2 bedrooms and a full bathroom. Extra storage area is fully complete. The back yard has been beautifully developed with a full deck, walkways and front yard access, New fence, new deck front and back, new paint, new roof... the list of new is endless! Front yard has been freshly landscaped as well. This property is south facing and is situated on the upper side of the street so views are fabulous and the new open concept design allows fabulous light throughout. Located on a large lot. ASKING $725,000
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| CONFERENCE BOARD PREDICTS RISE IN CALGARY HOUSING PRICES | |
CREA reports gains in several Canadian cities in June
By Mario Toneguzzi, Calgary Herald August 31, 2011 Short-term year-over-year house price growth in the Calgary region is expected to be in the five to seven per cent range, says the Conference Board of Canada.
It is a forecast it has consistently predicted for the Calgary census metropolitan area for some time.
In a report released Tuesday, the board said the average house price in the Calgary CMA in July was $397,884, down from $399,329 in June.
The seasonally-adjusted annual rate of sales in the resale market is 23,364 in July for the Calgary region, up from 23,112 in June.
New listings have also increased to 44,148 from June's 43,680 on a seasonally-adjusted annualized rate.
And the sales-to-new listing ratio dropped to 0.499 in July from 0.513 in June. According to the website of Calgary realtor Mike Fotiou, of First Place Realty, there have been 1,029 single-family MLS sales in the city so far this month between Aug. 1-29. The average sale price has been $451,170.
For the entire month of August 2010, there were 865 sales for an average of $445,814.
In the condominium market, month-to-date has seen 426 transactions for an average sale price of $282,009 compared with 362 sales and an average of $286,373 in August of last year.
None of the 28 areas surveyed showed a decline in prices.
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| CALGARY LUXURY HOME SALES SURGE 24% FROM LAST YEAR | |
By Mario Toneguzzi, Calgary Herald August 25, 2011
More confidence cited in upper-end market
Sales in the luxury home market have ballooned in Calgary this year.
According to the Calgary Real Estate Board, sales for upper-end residential properties are way above the pace set a year ago. As of Tuesday, there were 291 single-family MLS sales over $1 million this year compared with 234 for the same period in 2010. Also, 18 condominiums have been sold year-to-date in the upper-end price bracket, compared with 11 in 2010.
Miranda Pearson, with the Boutique Realty Group Ltd. of Century 21 Bamber Realty in Calgary, said consumer confidence has been stabilized recently by the low interest rates, making the cost of upgrading to a larger home practical.
"In general, with the softening of the market across the board taking a depreciation of 10 per cent on a $500,000 home versus a million dollar home, makes the million dollar home that much more attainable," she said.
"Inventory selection of luxury homes has increased compared to availability five years ago. Rather than renovating their current home which may have been selected out of pressure due to lack of choice and forgoing features they desired, this is an opportunity to find a home that suits those preferences."
Pearson also said the equity stability for buyers already owning in the luxury home market allows them to consider purchasing a second property or vacation property.
"Homeowners of higher-end properties tend to have a greater percentage of equity in their home and are somewhat insulated by market fluctuations. With low interest rates and substantial equity it is timely to leverage that equity to buy a second home."
Sales in the upper-end peaked in 2007 with 431 single-family homes priced at over $1 million selling as well as 30 condos.
The top sales this year are $3.995 million for a single-family home in the Elbow Park/Glencoe neighbourhood and $4.1 million for a condo in Eau Claire.
"We have seen more sales in the last several months. We just see more confidence in the market," said Sano Stante, president of the Calgary Real Estate Board. "More confidence in that upper-end.
"A lot of the product that's moving is some value buying. And some of the new product that's on the market in the upper-end they're sort of testing new territory. We're expanding our limits. We're testing new waters with some of the prices with some of the new listings that are on."
The highest priced listing currently in the Calgary city market is $12 million for a home in Aspen Woods. The highest priced condo is $4.195 million in Eau Claire.
Stante said that in talking with other industry members such as builders and architects they're very busy at the upper-end.
"That indicates to me that people, upper management ... have a sense of confidence. Those are the people making decisions based on what they see coming down the pipe."
Dan Sumner, economist with ATB Financial in Calgary, said low interest rates play a big factor for higher-priced homes.
"A one percentage point difference for a condo that costs $200,000 doesn't make near a big a difference as it does for a house that costs $2 million," he said.
"This could be a sign - although I don't have any direct data to support this - that maybe some of the high wage jobs in Calgary have fared quite well over this (economic) recovery."
Sumner said the inner-city Calgary housing market has fared better than in the outskirts this year and houses closer to the downtown core tend to be priced higher.
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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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