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Calgary Housing Stats 

 

 

The yellow-highlighted numbers tell us that the inventory of homes for sale in Calgary is nearly 18% lower than June of 2012. This means that well-priced homes don't last in the current market!


There is a way to be among the first buyers to know when a new house hits the market. Contact me today and I'll set you up with a search that means new listings are emailed directly to you, before they reach public Internet sites.

 

This a free, no-obligation, service that will help you avoid disappointment and put you at the front of the line for new home listings.

 

Whether you're looking for a single family home in Calgary, a house in Okotoks, Heritage Pointe or Bearspaw. NW Calgary , SW Calgary or SE Calgary, this service will get the power of technology working for you.

 

Diane Richardson
Re/Max Real Estate (Central)

403.397.3706 or email me 

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Posted in Calgary Home Prices, Calgary Home Prices, Calgary Homes for Sale, Homes for Sale in Calgary

Tightened housing supply curbs sales volume

 
First quarter sales improve in condominium market, while declining in single family sector
Calgary,
April 2, 2013

The inventory of active homes for sale in Calgary are the lowest March levels in more than five years.
The decline in new listings hampered resale sales growth, which declined by more
than two per cent in March compared to March 2012.
New listings in March are five per cent lower than levels recorded in 2012, and five per cent lower afternthe first quarter.
The overall active listings stand at just 4,006 units, up from February’s levels but well
below the number available one year ago.
“Less resale product available to consumers is ultimately limiting sales growth,” said CREB® President Becky Walters. “In addition, resale homes are selling in less time and with continued upward pressure on prices.”
Walters said buyers have grown accustomed to a market when they have more time to make decisions
because there was ample supply. But, as market conditions have tightened, if they are serious about purchasing a resale home, they can no longer significantly delay that decision, she said.
“While market conditions are a far cry from activity witnessed throughout the frenzy in 2006 and 2007,there has been a noticeable cha
nge over what became the norm over the past few years.” Walters said.Single family, year over
year sales growth declined by six per cent in March, a reflection of declining supply. Active inventory totaled 2,713 units, 22 per cent lower than levels recorded in 2012, and the
lowest March inventory level recorded since 2007. The market balance continues to trend into seller’s territory in this segment causing a year over year price increase of nearly nine per cent, for a total of $446,500 in March 2013.
“Tighter rental conditions and continued employment growth has supported housing demand growth,”
said Ann Marie Laurie, CREB®’s chief economist. “However, for those looking for more affordable single family home products, their choices continue to narrow.” She said new single family listings under $500,000 are declining at double digit rates, driving consumers at that price point to either surrounding towns, condominiums or the new home market.The condominium townhouse market is the only category to record a year over year rise in sales activity for the month.
This is in part because the level of new listings improved in March 2013 relative to March
2012.
Condominium year over year apartment sales declined by nearly three per cent in March. However, after the first quarter, sales activity totaled 830 units a 6 per cent increase over the previous year.
Condominium townhouse sales totaled 652 units at the end of the first quarter, a 15 per cent
increase over the previous year.
“The condominium apartment market remains in balance,” said Lurie. “While it has moved to the lower end of the spectrum, it remains better supplied then the single family market and the majority of product available is in an affordable price range.”
The benchmark apartment price totaled $257,700 in March, a six per cent increase over the previous year.
Meanwhile, the condominium townhouse benchmark price experienced a year over year increase of 4 per cent, to $286,800.
“Despite tighter market conditions, it is unlikely that we will have another significant run up in prices,” said Lurie. “Outside of easing economic factors expected this year, consumers have options in the total housing market.”
 
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Posted in Calgary Homes for Sale, Calgary Homes for Sale SE, New Homes, New Homes in Cranston

Calgary apartment vacancy rate decreases in 2012
Down to 1.3%

BY MARIO TONEGUZZI, CALGARY HERALD DECEMBER 13, 2012

CALGARY — The apartment vacancy rate in the Calgary region averaged 1.3 per cent in October, down from 1.9 per cent last year, according to Canada Mortgage and Housing Corp.’s Fall Rental Market Survey released Thursday.

“Employment growth and higher incomes, supported by Calgary’s expanding economy, continued to attract migrants and increased demand for rental units,” said Richard Cho, senior market analyst in Calgary for the CMHC.

The apartment crunch will likely continue as the CMHC is forecasting 20,000 net migrants to the Calgary area in 2012 after 11,200 net migrants in 2011.

“Alberta is once again seeing some very strong interprovincial migration these days and many of these people are arriving in Calgary,” said Todd Hirsch, senior economist with ATB Financial. “Typically before looking at buying a home, the recently-arrived will rent an apartment. That’s where a lot of the strong demand is coming from, and it’s pushing down the vacancy rate in the rental market.”

Recently, Sam Kolias, chairman and chief executive of Calgary-based Boardwalk Real Estate Investment Trust, told the Herald that the local rental market continues to see high demand as people keep moving to the province.

In the REIT’s third quarter, which ended September 30, it has 5,310 rental units in Calgary and the occupancy rate was 99.34 per cent, up from 98.89 per cent last year.

The apartment vacancy rate in most zones in Calgary declined from the previous year, said the CMHC report. Areas close to the downtown where there is a high concentration of employers continued to have among the lowest vacancy rates in the city, said the CMHC.

The vacancy rate in the Downtown zone reached 0.5 per cent in October, down from 1.0 per cent in October 2011.

The strong demand for rental accommodations combined with lower vacancies has led to an increase in rental rates in Calgary. Same-sample rents increased 6.1 per cent in October, following a 1.8 per cent rise in the previous year. Bachelor units and two-bedroom units recorded an increase of 7.4 per cent and 5.9 per cent, respectively. The average same-sample rent for three-bedroom units increased 4.2 per cent from a year earlier, said the agency.

Overall, the two-bedroom rent in Calgary averaged $1,152 in October, up from $1,087 last year. The Downtown and Beltline had among the highest average two-bedroom rents in the Calgary CMA at $1,240 and $1,222, respectively. The Southeast and Other Centres recorded the lowest two-bedroom rents in October, averaging $998 and $1,005, respectively.

Vacancies for rental condominium apartments declined to 2.1 per cent in October, down from 5.7 per cent in October 2011. The condominium rent in CMHC’s 2012 survey averaged $1,288 per month, down from $1,378 last year.

“Condominium apartment rents are typically higher compared to units in the purpose-built rental market as the buildings are generally newer and may include additional amenities such as a fitness centre, entertainment room, and heated underground parking,” said Cho.

Don Campbell, president of the Real Estate Investment Network in Canada, said the low vacancy rate wil lead to two things.

“Strong upward pressure on rents across the board, at all levels. Upward pressure on resale housing market first in 2013, then new home sales in 2014,” he said. “Look for the market to perform well in 2013 with values going up more quickly than 2012.”

 

Source:http://www.calgaryherald.com/story_print.html?id=7693705&sponsor=curriebarracks

© Copyright (c) The Calgary Herald
 
 
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Posted in Alberta economy, Calgary Homes, Calgary Homes for Sale Search by price, Calgary Housing market

Alberta economic boom shows no signs of slowdown Growth leader forecast for 2014

BY MARIO TONEGUZZI, CALGARY HERALD DECEMBER 13, 2012

CALGARY — Alberta’s economic boom is showing little sign of slowing down, according to the latest RBC Economics Provincial Outlook released Thursday.

RBC forecasts that Alberta will continue to be among the fastest-growing provincial economies in 2013 with a real GDP growth rate of 3.5 per cent, second only to Newfoundland & Labrador’s 4.4 per cent.

Alberta will regain the top spot in the country in 2014 with Real GDP growth forecast at 4.2 per cent.

“Alberta is in the midst of an impressive economic boom, with activity in the province surging by 5.1 per cent in 2011 and remaining on the fast track in 2012,” said Craig Wright, senior vice-president and chief economist with RBC. “While massive investment in the energy sector – which was the key catalyst for the economic boom – has been tempered recently, strong capital expenditures and rapid momentum in other sectors will keep the economy moving ahead at a sustained clip.”

But RBC said the mood in the province remains somewhat cautious, as Alberta’s oil sector finds itself increasingly “land locked” due to pipeline bottlenecks. It said major players in the oilsands have cited delivery challenges and a greater than usual discount on wellhead prices as reasons for delays in spending on mega projects.

RBC said these delays have raised some concerns about the sustainability of business investment in the province and it expects major players in the oilsands to remain generally cautious in 2013, keeping spending in a holding pattern while pipeline issues are addressed and crude oil price relationships normalize.

The report said Alberta will benefit from broad-based expansion in 2013, with strong population growth and employment continuing to fuel consumer spending and housing activity showing continued vigour. On the business side, rising demand for commercial and industrial space will support growth in capital spending outside the energy sector.

Economic growth for this year is estimated at 3.8 per cent, the best in Canada, following 2011’s 5.1 per cent which also set the pace for the rest of the country.

“We anticipate that Alberta’s growth will slow modestly next year thanks in large part to the lull in oilsands investment,” added Wright. “However, sufficient progress in resolving these oil delivery issues in 2014 should allow for major projects to proceed, setting the stage for a 4.2 per cent re-acceleration in growth.”

The Canadian economy is forecast to grow by 2.4 per cent in 2013 and 2.8 per cent in 2014 after an estimated 2.0 per cent growth this year.

In its quarter economic forecast released Thursday, TD Economics said Canadian economic growth is expected to edge down to 1.7 per cent in 2013, before picking up to a healthier 2.5 per cent in 2014.

“In Canada, the first half of 2013 is shaping up to be quite soft. Fiscal consolidation in the U.S. alone could shave 0.5 percentage points off Canadian economic growth through lower exports and the knock-on-effects to other areas of the economy,” said TD. “Beyond mid-year, the rebound in the U.S. should help support a modest recovery in Canadian export growth.

“However, the Canadian economy will still face headwinds from a high Canadian dollar, elevated household debt and government restraint.”

Source:http://www.calgaryherald.com/story_print.html?id=7693125&sponsor=curriebarracks

© Copyright (c) The Calgary Herald


 

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Posted in Airdire Homes for Sale, Calgary Home, Calgary Homes for Sale, Okotoks Homes for sale

Boom in resale housing market just outside Calgary  
Towns see nearly 40% hike in MLS sales

BY MARIO TONEGUZZI, CALGARY HERALD DECEMBER 6, 2012

CALGARY — The resale housing market in towns just outside the City of Calgary has seen a boom in sales this year.

According to the Calgary Real Estate Board, year-to-date MLS sales in the surrounding communities market has ballooned to 4,878 up to the end of November, a hike of 39.05 per cent compared with the same period in 2011.

In comparison, year-to-date sales of 20,128 in the City of Calgary are up 15.21 per cent compared with last year.

“I think what’s happening is the buyers can’t find necessarily what they want in the city,” said Bob Jablonski, CREB’s president. “There’s less product to look at here in Calgary. And they’re finding they can find what they’re looking for in surrounding towns for the price points and getting a bigger bang for their bucks. So they don’t mind the commute.”

In the towns market, so far this year the average MLS sale price has dipped by 0.18 per cent to $354,897 while in the city it has risen by 3.16 per cent to $428,208.

According to CREB, in the country residential (acreage) market, sales so far this year are 842 with an average sale price of $793,707.

Last year there were 689 sales with an average sale price of $807,764 for the same time period.

Don Campbell, president of the Real Estate Investment Network in Canada, said places like Airdrie and Okotoks experience what’s called the Doppler effect in the real estate industry.

“It’s where a centre booms and then the smaller centres around it follow either a year or a year and a half later,” said Campbell.

“But the thing that’s really affected Okotoks, and now especially Airdrie, is the transportation change. The Ring Road (Stoney Trail). For Okotoks, of course, it was the expansion of Highway 2 a few years ago that really started to drive and bring to everyone’s attention Okotoks. Because nobody really went south of Calgary. Everybody went between Edmonton and Calgary and always knew that Airdrie was there. Okotoks is now on the radar.”

With any real estate market, it’s about affordability, said Campbell, and markets like Airdrie and Okotoks, for example, were driven by potential homebuyers who felt that they couldn’t afford to live in Calgary.

Stoney Trail has had huge impact on the Airdrie market, said Campbell. Also, many new jobs have been created in the northeast part of Calgary.

“So rather than live in the northeast, people are living in Airdrie which is almost the exact length of time to get to work,” he said.

 

Source:http://www.calgaryherald.com/story_print.html?id=7660339&sponsor=curriebarracks

Creb: http://www.creb.com/public/town-and-country/documents/2012-q3-towns-report.pdf

         http://www.creb.com/public/town-and-country/quarterly-stats.php

© Copyright (c) The Calgary Herald
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Posted in Airdrie Homes for Sale, Calgary Homes for Sale, Okotoks Homes for sale

Calgary top real estate investment market in Canada

Edmonton ranked as second

CALGARY — Calgary has been ranked as the top real estate investment market in the country followed by Edmonton by the Real Estate Investment Network Ltd.(

In its Top Alberta Investment Towns report, REIN said that Alberta’s economy has come out on top after a few years of economic turbulence.

The report identifies towns and regions poised to outperform other regions of the province over the next three to five years.

And none is better than Calgary.

“After a couple of roller-coaster years, Calgary is back on a roll. The return of jobs to the city, as well as greatly reduced office vacancy rates show us that the city’s short slump has come to an end,” said the report. “Recording a GDP growth of three per cent in 2011, and one of the lowest unemployment rates in the country, it’s no wonder Calgary is sitting as one of the top places in North America for property investors. When you combine the economic fundamentals, the population growth, and a burgeoning provincial economy, it is easy to see why so many businesses and people have come to call the city home.

“The market is hot. With the pressure on the resale housing market, there is similar pressure on the rental market. Inventory has dropped for rental accommodations while monthly rents have increased. Real estate investors and real estate agents are reporting that rental listings are being pounced on. Savvy investors purchasing units and advertising them for rent upon close are receiving calls from anxious tenants wanting to see the unit before the investor has possession and/or has done any improvements to the property. Rental sites are reporting difficulty in compiling statistics become some communities have nothing for rent.”

REIN said housing affordability will begin to be an issue in Calgary, with rents increasing and a high average sale price. But when you look at that price versus average income it shows that other cities in Canada have a much larger problem on their hands.

“Calgary has the long-term economics to support long-term market strength while other cities do not,” said REIN.

The Top Alberta Investment Towns ranked in order are: Calgary, Edmonton, Airdrie, Red Deer, St. Albert, Fort McMurray, Lethbridge, Grande Prairie, Okotoks, Leduc, Sylvan Lake and Lacombe.

The report said Airdrie has been one of the fastest growing communities in the province.

“Its proximity to the economic engine of Calgary and the growth of the surrounding economy will push the physical and economic growth limits of the city in the next decade,” said REIN.

“With increasingly easy access to many areas of Calgary via the ring road as well as the growth of job centres in and around the city, Airdrie property owners should continue to feel upward pressure on both rents as well as home prices. As affordable housing becomes a growing problem in Calgary, Airdrie will benefit from lower average house prices. As the office centre of the west, Calgary may offer employment opportunities that Airdrie does not, but much of the labour force will turn to Airdrie as a place to call home.”

REIN’s top Canadian investment cities ranked in order are: Calgary, Edmonton, Hamilton, Surrey, Maple Ridge and Pitt Meadows, Airdrie, Kitchener and Cambridge, Red Deer, St. Albert, Waterloo, Winnipeg, Saskatoon, and Halifax.

According to a research note by Scotia Economics, Alberta remains a key economic engine for Canada, with the highest provincial real GDP growth rate forecast for 2012 and 2013 at 3.4 per cent and 3.0 per cent respectively.

“The economy is growing strongly with contributions from consumer spending, business investment, particularly in the oilsands, and exports, which is encouraging given the strong Canadian dollar and soft global demand,” it said. “Provincial government spending also will continue to support growth, albeit at a slower pace than over the decade prior to the recession.”

In the second quarter of 2012, Alberta had a year-over-year population growth rate of 2.5 per cnet, the highest in the country.

“At this juncture, the federal government’s recent tightening of mortgage and home equity financing standards appears to have had a limited impact on Alberta’s housing market,” said Scotia Economics. “It continues to be supported by strong employment growth, significant wage gains and ongoing resource development.”

 

mtoneguzzi@calgaryherald.com

Twitter:@MTone123

© Copyright (c) The Calgary Herald
source:http://www.calgaryherald.com/business/Calgary+real+estate+investment+market+Canada/7534574/story.html
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Posted in Calgary Homes for Sale SE, Calgary SE Homes for Sale, Midnapore Community Information, Midnapore For Sale, Midnapore Homes for Sale

Midnapore is a community within the SE of the City of Calgary.

Midnapore was once an unincorporated community with its own train station, but as Calgary grew larger, it was annexed into being part of that city in 1961 and established as a neighbourhood in 1977. It is bounded to the north and east by Fish Creek Provincial Park, to the south by Sun Valley Boulevard and to the west by Macleod Trail.

Midanpore is a popular district and those looking for real estate for sale in Midnapore SE Calgary can choose from affordable starter homes to spacious lakeside properties.

 

In 2011 the neighbourhood had a population of 6,888. Residents in this community had a median household income of $68,492 in 2005, and there were 11% low income residents living in the neighborhood. As of 2006, 15.8% of the residents were immigrants. A proportion of 18.4% of the buildings were condominiums or apartments, and 29.3% of the housing was used for renting. Midnapore community info.

 

Midnapore Lake was developed by Keith Construction, which also developed several other lake communities in Calgary. The Midnapore Lake Residents Association (MLRA) is a not-for-profit association which owns, maintains and operates the facilities of the lake and park. Each residence is required to contribute to the assets of the MLRA each year to ensure the financial viability of the MLRA. More info.

 

Midsun The Mid-Sun Community Association strives to enhance the quality of life of the communities 
of Midnapore and Sundance in southeast Calgary by providing a voice, as well as direction, to meet the expressed needs of residents.

 

There were 8 Midnapore Single Family Homes Sold in August of 2012, with an average sale price of $582,675 and a median sale price of $341,500. The average days on market (DOM) for these 8 sales was 19 days.

 

Midnapore Map SE Calgary

 

Closest Schools for the Community of Midnapore

School Board Type Address Distance
Mother Teresa of Calcutta Separate Elementary 121 Midlake Blvd. SE 0.21 km
Midnapore Elementary Public Elementary 55 Midpark Rise SE 0.29 km
Trinity Christian School Private All Grades #100 295 Midpark Way SE 0.81 km
Sundance Elementary Public Elementary 200 Sunmills Drive SE 1.69 km
Fish Creek School Public Elementary 1039 Suncastle Drive SE 1.85 km
Father James Whelihan Separate Junior High 70 Sunmills Dr. SE 0.91 km
St. Bonaventure Separate Junior High 1710 Acadia Drive SE 2.05 km
MidSun Junior High School Public Junior High 660 Sunmills Drive SE 2.07 km
Our Lady of Peace Separate Junior High 14826 Millrise Hill SW 2.56 km
Nickle Junior High Public Junior High 2500 Lake Bonavista Drive SE 3.15 km
Centennial High School Public High School 55 Sun Valley Boulevard SE 0.81 km
Bishop O'Byrne Separate High School #500 333 Shawville Blvd. SE 2.21 km
Dr. E. P. Scarlett High School Public High School 220 Canterbury Drive SW 4.47 km
Lord Beaverbrook High School Public High School 9019 Fairmount Drive SE 6.54 km
Bishop Grandin Separate High School 11 Haddon Road SW 7.49 km
Closest Midnapore LRT Stations
Station Distance
LRT - Shawnessy Station 1.18 km
LRT - Fish Creek Lacombe Station 1.67 km
LRT - Somerset/Bridlewood Station 1.96 km
LRT - Canyon Meadows Station 2.76 km
LRT - Anderson Station 4.73 km
Click or call,403.397.3706, to schedule your private viewing of any Homes for Sale in Midnapore .Or, to receive customized search of listings in Midnapore or South Calgary email me 


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Posted in Calgary Home Prices, Calgary Homes for sale, Calgary Housing Market, Calgary Real Estate Outlook

Calgary's healthy housing market

Will van ‘t Veld
Economist, ATB Financial

September 6, 2012

 

After a spring of defying the negative national housing market sentiment, the Calgary market cooled a bit in August. But, Alberta’s largest city remains one the nation’s most solid real estate markets. Back in February, the inventory-to-sales ratio in Calgary began to dip, as sales increased faster than new listings, indicating the market had quickly dipped into sellers’ territory. Buyers have since reversed that trend slightly, with the Calgary Real Estate Board reporting that monthly
sales in August dipped 11.6 per cent month-over-month.The swing in housing market activity can be seen in average residential price changes. That average residential price nudged down to $417,000 in August, a 2.2 per cent drop from July, which is nonetheless 3.1 per cent higher than a year ago. The MLS also computes a benchmark price, which is less volatile. The benchmark price adjusts for specific features, such as lot size, bedrooms and location. The jump in the MLS benchmark price index through 2012 has been pretty impressive, up 6.5 per cent on a year-over-year basis. Activity in the single family detached home market has been particularly strong over the past year, with the MLS benchmark index jumping 7.8 per cent yearover-year in August. This is the main reason the overall residential home price index has increased so noticeably, as detached homes make up the vast majority of residential sales.
For their part, condo and town home prices have been plodding along, with the benchmark price increasing 3.3 and 2.6 per cent, respectively, on an annual basis.

 

Calgary Home Inventory to Sales Ratio

http://www.industrymailout.com/Industry/Home/4706/17195/link389955/Daily%20Economic%20Comment%206-SEP-2012.pdf

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Posted in Calgary Home for Sale Cranston, Calgary Homes for Sale, Cranston 3 bedroom homes, Cranston Bungalows for Sale, Cranston Homes for Sale, Cranston Real Estate Info, New Homes in Cranston, SE Calgary Homes for Sale

Cranston Calgary Real Estate 

Cranston SE Calgary Homes for Sale 

Nestled next to the stunning Bow River Valley and Fish Creek Park, Cranston is  an inspiring backdrop for outdoor lifestyles. Hike, bike, rollerblade or jog along year-round pathways that unwind among acres of lush park space. Relax near the Bow River with a picnic or a fishing rod. Or spend time with the kids in one of the many parks and playgrounds.

 

 

Cranston Access.

Every area of the city is easily accessible from Cranston’s location at Highway 22X (Marquis of Lorne Trail). Deerfoot Trail takes you directly downtown or to the Calgary International Airport and puts Foothills Industrial Park within easy reach. Follow Highway 22X west for direct access to Kananaskis Country and the Rocky Mountains, as well as the retail business corridor on Macleod Trail. http://calgary.livebrookfield.ca/livebrookfield/index.php/communities/cranston/experience-the-community.


Century Hall (Cranston) is your very own private resident's facility complete with a gymnasium, banquet facilities, ice rink, splash park and toboggan run — plus the opening of Cranston Market and two new schools in 2010, Cranston has everything your family needs right in your own backyard.

 

Century Hall Is At The Heart Of The community
Located on a spacious 7–acre gated park site is Century Hall – a striking 22,000 sq. ft. private facility for the residents of Cranston. Complete with meeting and banquet rooms, a gymnasium, multi-function rooms, a skate change area and more, Century Hall is the central gathering place for the community. Recreational programs, summer camps, workshops and community events all take place here.

 

Membership in the Cranston Residents Association is automatic and mandatory with the purchase of a home in Cranston. The payment of dues, which is reviewed and established annually, is secured by an Encumbrance (subject to upward adjustment for inflation) registered on the title of each member’s property. The Association, including the operation of Century Hall, is administered by a Board of Directors made up of Brookfield Residential and resident representatives.

Annual fees for 2012-13 are:
Standard - $146.15 (including GST)

*Annual fees are subject to annual compounded inflation increases and GST.
Interest will only be applied to all outstanding accounts beginning on May 1st of each year.

http://www.cranston-connect.com/index.php/residents-association/membership-information/


 Cranston Home Builders

  • Albi Homes
  • Baywest Homes
  • Brookfield Homes
  • Cardel Homes
  • Cardel Lifestyles
  • Cedarglen Homes
  • Discovery Homes
  • Landmark
  • Shane Homes
  • Trico Homes

Calgary Home for Sale in Cranston SE Calgary

Cranston SE Homes for Sale Calgary Click Here! 3 or More Bedrooms

 

Calgary Homes for Sale in Cranston Bungalows Click Here!

Cranston Community Map

Calgary Board of Education interactive map of Schools for the Community of Cranston


Cranston Real Estate Statistics more statistics here

There were 33 Cranston Single Family Homes Sold in July of 2012, with an average sale price of $468,257 and a median sale price of $415,000. The average days on market (DOM) for these 33 sales was 60 days.

Cranston Community profile pdf Download

 

 

Click or call,403.397.3706, to schedule your private viewing of any Cranston Home for Sale.

Or, to receive a customized search of listings in Cranston email me

 

 

 

 

 Calgary Homes for sale   Diane Richardson 403.397.3706


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Posted in Calgary Home Prices, Calgary Homes for Sale, Calgary House Prices, Calgary Housing market

Calgary housing market among Canada’s most affordable: RBC  
Stronger home resales and new construction

BY MARIO TONEGUZZI, CALGARY HERALD AUGUST 27, 2012
http://www.calgaryherald.com/business/Calgary+housing+market+among+Canada+most+affordable/7149520/story.html 
http://www.rbc.com/economics/market/pdf/house.pdf 

CALGARY — The Calgary-area housing market remains one of the most affordable in Canada, according to a report released today by RBC Economics Research.

The latest Housing Trends and Affordability Report said the local market has enjoyed the best of all worlds recently: stronger home resales and home building, moderately rising prices, and attractive and improving affordability.

“Such a combination is a rare feat, but it follows years of sluggish performance in the aftermath of the area’s mid-2000s boom,” said the report. “In the second quarter of 2012, a sharp drop in the costs of utilities provided unusual help to affordability in the area. Utilities and property taxes—two small components of home ownership costs—typically do not sway affordability, but the sudden reversal of earlier electricity rate increases led to a substantial 17 per cent quarterly decline in utilities, which was more than enough to move the affordability needle.”

In the second quarter, the RBC measures edged lower for condominium apartments and two-storey homes by 0.6 percentage points and 0.4 percentage points, respectively, while the measure for detached bungalows was unchanged in Calgary.

“Such general amelioration kept housing affordability in check at some of the better levels among Canada’s largest cities,” said the report.

The RBC Housing Affordability Measure, which has been compiled since 1985, shows the proportion of median pre-tax household income that would be required to service the cost of mortgage payments (principal and interest), property taxes, and utilities.

In the second quarter, RBC measures for Calgary edged lower for condominium apartments by 0.6 percentage points to 21.6 per cent and for two-storey homes by 0.4 percentage points to 37.2 per cent. The measure for detached bungalows remained unchanged at 36.7 per cent.

RBC said significant drops in the prices for electricity and natural gas in the second quarter of 2012 in Alberta “further solidified this province’s position as the market with the lowest home ownership costs as a share of household income in Canada.”

The RBC measures eased by 0.6 percentage points for both two-storey homes and condominium apartments, while the measure for detached bungalows edged lower by 0.3 percentage points, it said.

“Alberta experienced a 17 per cent decline in utility costs, which was the largest contributor to across-the-board improvements in housing affordability in the most recent quarter,” said Robert Hogue, senior economist, RBC. “Attractive affordability and a vibrant provincial economy are providing powerful incentives for Alberta homebuyers – second quarter home resales were at the best level in five years, surging 18 per cent over the same period last year.”

The affordablity measures in Alberta were: 32.0 per cent for detached bungalows; 34.8 per cent for two-storey homes; and 19.7 per cent for condominiums.

In Canada, they were: 43.4 per cent for bungalows, up 0.2 per cent; 49.4 per cent for two-storeys, up 0.6 per cent; and 28.8 per cent for condominiums, unchanged.

How the RBC Housing Affordability Measures work 

The RBC Housing Affordability Measures show the proportion of median pre-tax household income that would be required to service the cost of mortgage payments (principal and interest), property taxes, and utilities on a detached bungalow, a standard twostorey home and a standard condo (excluding maintenance fees) at the going market prices.
http://www.rbc.com/economics/market/pdf/house.pdf 

 

 

 

 

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Posted in Auburn Bay, Calgary Real Estate, Calgary Homes for Sale Search by price, Cranston Homes for Sale, McKenzie Towne Homes for Sale, Midnapore Homes for Sale, New Brighton Homes for Sale, SE Calgary Homes for Sale, Search by Neighbourhood

SE Calgary Real Estate for Sale

SOUTHEAST CALGARY NEIGHBOURHOODS

There are many SE communities to choose from in Southeast Calgary, offering houses and condo in all price ranges. Southeast Calgary is home to neighbourhoods such as Auburn Bay, Chaparral & McKenzie Towne, Midnapore & New Brighton & Cranston.

 

 

Search SE Calgary Neighborhoods for Homes for Sale

Search by price

 

 

SE Calgary  Communities Homes for sale
Acadia Fairview New Brighton
Auburn Bay Inglewood Parkland
Chaparral Valley Lake Bonavista Queensland
Copperfield Mahogany Ramsay
Cranston Manchester Riverbend
Deer Ridge Maple Ridge Seton
Deer Run McKenzie Lake Sundance
Diamond Cove McKenzie Towne Walden
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Click or call,403.397.3706, to schedule your private viewing of any SE Calgary Homes for Sale.Or, to receive a customized search of listings in SE Calgary email me

 

 

 

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Posted in Okotoks Homes for sale, Okotoks Real Estate

 

 

Okotoks is nestled in the Sheep River Valley of the Alberta Foothills, 20 kms south of Calgary on Highway 2/2A. Okotoks has centrally located access to a number of destinations, including downtown Calgary or the Calgary International Airport (40 minutes), Banff National Park (2 hours), Lethbridge (2 hours), Radium/Invermere (3 hours), and Waterton National Park (2.5 hours).

• Future South Calgary Hospital under construction - 10 minutes north.Okotoks Map

Homes for sale In Okotoks: Search by Neighborhood

Air Ranch Homes for Sale

Central Heights Homes for Sale
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Downtown Okotoks Homes for Sale

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Tower Hill Homes for Sale

Westmount Homes for Sale

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Woodhaven Homes for Sale

 

Homes for Sale in Okotoks: 3 or More Bedrooms Click Here!

Bungalows for Sale in Okotoks Click Here!


 

Calgary Homes for sale

Click or call,403.397.3706, to schedule your private viewing of any Okotoks Homes for Sale.Or, to receive a customized search of listings for Okotoks email me

 

 

 

 

 


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