Do you live in Cranston? Or maybe you just love garage sales? Come and take part in the Cranston Parade of Garage Sales, June 2nd from 8:00 am to 2:00 pm. We will have more than 60 homes taking part this year (maybe more), and we’ll have signage everywhere to direct you. Last year’s event was a huge success, and we’re looking to improve on that.If you live in Cranston and want to take part, here’s how: (more…)

I’m excited to announce our new Home Page is live on CalgaryHomeListings.ca. After months of re-design, our ’2.0′ version of our website makes searching for homes, condos, and acreages a snap. We’ve improved the Quick Search area to make it cleaner and with more choices for your search parameters, moved our featured listings up to the top for easy reference, and made it simple to click on whatever you’re looking for, like community prices, a mortgage calculator, and an easy home evaluation button. The Acreage Search is now just above our Featured Community area. It’s the simplest way to find any Calgary MLS listing. (more…)

Calgary MLS sales activity improved over last year in February, which accurately reflects my own experience in the market. In booking showings for clients this past month, I have personally found numerous homes sold before we could get in to see them, homes sold on multiple offers, and homes sold above list price. The CREB statistics show bookings for showing through our online ‘Touchbase’ software at spring levels, and much higher than a year ago.

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Selling a home in the winter (a Canadian winter, not the snowbird winter we dream of) is a very good strategy, and better statistically than most consumers know. A study done in 2009/2010 showed that the the price, days on the market, and selling percentage to list price was all better than the median average for the entire year, when comparing winter sales to the rest of the year. One of those factors is the number of new listings, which tends to peak in the Calgary market in April and May. January and February is somehow seen as a less attractive time to list, but the truth is, you have less competition, and the buyers that are looking are actually serious buyers. After all, who would go out in the snow and below zero temperatures if they weren’t serious about moving? Here are 7 tips to selling your home in the winter successfully: (more…)

The Calgary Real Estate market is recovering slow but sure. According to the Calgary Real Estate Board President, the time to sell a home has dropped, and we are in a more balanced market than traditionally for this time of year, when inventory of homes is higher. In an article in the Calgary Herald, the Board reports that the average price for single family homes in 2011 is $460,000, which is just marginally ahead of 2010. The Board predicts 14,500 sale this year in single family homes, and about 7,000 in condos. Much of the growth over last year will happen as the year unfolds, as net migration and better economic growth drive sales, rather than lower mortgage rates.

In another article, the President of REIN, the real estate investment network, is predicting that Alberta is headed for a real estate frenzy in about 18 months. Don Campbell says that the GDP forecast for Alberta of 4.3% growth far exceeds the 3% regarded to be healthy. Calgary real estate will be affected more, and first, according to Campbell. So what does this mean to buyers? Get a game plan together in the next six months, and plan to buy or move up before prices climb. This year, single family home sales in McKenzie Lake, McKenzie Towne, Chaparral and Cranston have all  increased, with inventories slightly lower, meaning sales of new listings are stronger this year over 2010. While the sale prices are mostly in line with last year, the volume is cause for optimism, as many sellers were frustrated by the 2010 market.

The March statistics for Calgary’s real estate market are out, and while the numbers don’t indicate a huge turn-around, the do show that both sides of the transaction have opportunities in the single family market:

“CALGARY’S HOUSING MARKET RECOVERY DRIVEN BY SINGLE FAMILY HOME SALES

Calgary’s NW sector boasted the largest gains in single family homes sales in the first quarter

Calgary, April 1, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), Calgary Metro sales remained at levels similar to the first quarter of 2010.  Improved sales in the single family market have largely been offset by declining sales in the condominium market, indicating that the gradual recovery will continue to be driven by the single family market for the better portion of the year.

Single family home sales in the first quarter of 2011 were 3,309, a 4 per cent increase over the first quarter of 2010. The combination of stable home prices, low interest rates and year-over-year improvements in employment are the primary factors fueling the growth.

March 2011 single family home sales totaled 1,355, a 3 per cent decrease over March 2010 figures.  The decline in sales was accompanied by a 19 per cent year-over-year decline in new listings. As a result, inventory remained at three months, which indicates a balanced single family market.

The NW sector boasted the largest gains in single family home sales in the first quarter of 2011 with 1,198 sales, a 13 per cent increase over the first quarter of 2010. Sales in the SE posted quarterly gains of 5 per cent, while the SW remained relatively unchanged and NE sales declined by 9 per cent.

“Improved affordability levels in single family homes have offered some individuals the opportunity to purchase homes in areas of the city that were once unattainable,” says Sano Stante, president of CREB®.

The SW sector recorded the highest single family average home price in the first quarter of 2011 at $570,748, while average home prices in the NW and SE were $464,990 and $422,821 respectively. The NE sector continues to remain the most affordable, with average prices hovering around $282,713.

“Average single family home prices remain relatively stable compared to the first quarter of last year, as people continue to purchase more homes at the lower end of the price spectrum,” says Stante.  “The rise in sales has been primarily offset by a corresponding increase in listings, resulting in stable average prices.”

Calgary Metro average price of single family homes in March 2011 was $462,947, a 2 per cent decline from March 2010, and virtually unchanged from the previous month.  Meanwhile, the median price declined by 5 per cent compared to March 2010.

Quarterly condominium sales continue to fall over levels recorded in the previous year, down by 11 per cent compared to the first quarter of 2010, while quarterly average prices are down by 1 per cent.  It is important to note the quarterly average price of condominiums is skewed upwards for 2011 due to the sale of a $4.1 million condominium.  If we remove this sale, quarterly average price would have declined by over 2 per cent.

The average price of condominiums in March 2011 was $280,781, while the median price was $256,000, a respected 5 per cent drop and 7 per cent, respectively, from levels recorded in March 2010.

Improved selection of affordable single family homes and higher inventory levels of new condominiums have reduced the demand for resale of condominiums. It is anticipated that demand should gradually recover in the latter half of the year, as Calgary’s economic recovery continues to take hold. “This provides a window of opportunity for condo buyers early in the year to discover a large selection of available product at affordable prices,” says Stante.

Calgary’s labour market has shown some recent improvements, however, it is still in the early stages of recovery as job growth remains below the 5-year average.  Improvements in the energy sector are anticipated to show stronger job growth in the second half of the year, providing the foundation for continued recovery in the housing market.”

The general feeling in real estate so far this year is one of cautious optimism. Support for this rather unscientific feeling is found in an article about Calgary’s Economic Growth in both GDP, as well as net migration by Canadian Mortgage Broker News. I know that within my own RE/MAX office, we are seeing signs of movement in properties, and a slight uptick in sales that may very well become a seller’s market in the next few months.  (more…)