A Bumpy Road to Recovery

Calgary housing market prices hold, but sales fall Residential home sales declined in February, but a decline in new listings helped keep prices steady this month. Sales totaled 1.094 units in February, 18 per cent below last year’s activity. Easing sales occurred across all property types this month, which outpaced the sales growth that occurred…

Mid-Year Calgary market update shows stability

The first-half of 2017 marked a shift in Alberta’s economy from recession to recovery, with conditions supporting stability rather than expansion. “Economic challenges continue to exist, as high unemployment rates, weak migration levels and more stringent lending conditions are weighing on the housing market,” said CREB® chief economist Ann-Marie Lurie. “This will continue to cause…

Market remains balanced despite easing in absorption rates

Supply gain in apartment sector threatens to impact price Declines in residential housing sales activity eased in July, creating, when combined with stable inventory levels, no change to the month-over-month price. Year-over-year sales fell by 14 per cent to 1,995 units in July, compared to a 17.8 per cent decrease the previous month. Despite the…

Housing market expected to be stable in 2015

While the recent drop in oil prices has caused speculation about implications for the housing sector, stable conditions are expected given current forecasts for employment and migration. “While employment and migration are expected to support housing demand, estimates could change depending on the extent and duration of oil price declines,” said Ann-Marie Lurie, CREB®’s chief…

New Home Buyer Protection Act Of Alberta

In early 2014, the New Home Buyer Protection Act will come into force. The intent of the legislation is to improve consumer protection and recourse options, increase builder accountability, and raise the standard of residential construction in Alberta. While the Act does not place any new obligations on Alberta’s REALTORS®, this article discusses important aspects…

June sales exceed expectations however flood outcome on the market is still to be determined

Calgary, July 2, 2013 – Sales activity in June exceeded growth expectations. City of Calgary monthly residential sales totaled 2,317, a six per cent increase over June 2012 figures, and nearly five per cent higher than levels recorded in the first half of 2012. However, the impact of recent flooding is expected to trickle into…

Calgary housing market does not show signs of slowing

Year-over-year sales growth remains in double digit territory Calgary, Nov. 1, 2012 – City of Calgary sales activity marked a 23-per-cent increase over levels recorded in October 2011. The continued improvement in sales has pushed year-to-date sales activity to nearly 16-per-cent above levels recorded in 2011. “Relative to national trends, we continue to move in…

Calgary Home in the desirables neighbourhood of Britannia sells for $1,000,0000 over the asking price due to competing offers.

Original Article by Mario Toneguzzi, Calgary Herald It is a testament to Calgary’s strong luxury home market. An upscale Britannia home recently sold for $6 million in just days, as multiple bids upped the price by $1 million from its original listing, making it the third most expensive MLS sale ever in the city, the…

Stigmatized Properties In The Calgary Real Estate Market

What is a stigmatized property? A stigmatized property is a property that has had an unfavourable occupant or act take place or reside in the dwelling. In the eyes of the public such things as grow ops, murders, deaths, inhabitance by drug dealers, child molesters, ghosts and Charlie Sheen can cause a property to become…

Single family leads Calgary’s housing growth

New listings at a good price generating a lot of activity In response to member feedback, the 5 year summary stats report is available to members on CREB®Link under the monthly housing stats section and includes the median prices. In addition, the graphs available in CREB®Link show the relationship between the average, median and benchmark…