2011 a year of steady improvement for the housing market Calgary, January 3, 2012 – According to figures released today by CREB® (Calgary Real Estate Board), Calgary residential sales in 2011 increased eight per cent over last year, with 18,568 sales for 2011 compared to 17,267 in 2010. Recovering from tepid sales activity in the first half of 2011, early improvements in employment and migration resulted in a pickup in housing demand in the second half of the year.

By the end of June 2011, year-to-date sales activity had only increased by two per cent compared to the second half of the year, where residential sales improved by 15 per cent. “While sales activity in 2011 remained below the long run average by 17 per cent, monthly figures point towards the trend of this gap narrowing,” says Sano Stante, president of CREB®.2011 single family sales totaled 13,186, a nine per cent increase over last year. 

While sales increased, listings remained low, with an annual total of 24,245, six per cent lower than 2010 levels.  The decline in listings relative to sales pushed down inventory levels to 2,761, resulting in four months of supply.  Meanwhile, the condominium market recorded declining sales for nearly half of the year, but favorable pricing and improved economic conditions pushed sales up by double digit rates for the second half of the year. 

2011 condo sales totaled 5,382, a 4 per cent increase over the previous year.  The rise in sales was complemented by an annual 12 per cent decline in listings. This helped to tighten the condominium market, causing inventories to decline to 1,287 and months of supply to remain just above four months. “The demand recovery in the condominium market lagged the single family market, as price adjustments in both the single family and condominium markets resulted in more selection for consumers,” Stante says.

“For the first time in several years, consumers had additional selection of single family homes at a lower price range, which directly competed with the condominium market.”   Single family average price in 2011 reached $466,402, a one per cent increase over last year.  While there have been some strong monthly increases, primarily due to sales in the upper end skewing the prices, overall prices have remained fairly stable.  Meanwhile, the year-end median price of 405,000 remains at levels similar to 2010.  

Condominium prices have remained persistently low in 2011, while some of the monthly figures have been boosted by high end penthouse sales. By the end of 2011, the average price of $287,172 remained one per cent lower than the previous year. “Throughout 2011, elevated levels of inventories have limited price growth as consumers benefitted from sufficient supply of housing to choose from; however, as these inventories drop to levels more consistent with a balanced market, we can expect some moderate price growth moving forward,” Stante concludes.

December is a special time for many of our clients. For some, this month is significant for cultural or religious reasons. For others, it's meaningful because of time spent with family and friends. For most, it is also a time of planning and looking ahead to the new year.

Whatever this month means to you, we wish you the best.

On a personal note, we just wanted to thank all our past customers for their loyalty and support this year. We hope to be of service to those past and future customers for many years to come.

Have a wonderful new year!

  WHAT A GREAT OPPORTUNITY! This 3,358 square foot family home has four bedrooms up and one in the basement. The five bathrooms with full granite should keep the family happy. The main floor consists of new bamboo hardwood flooring through the kitchen, dining, living, family & utility areas. The elevator will assist those family members that have difficulty with the stairs. The kitchen features high end stainless appliances, maple cabinetry, stainless hood range and granite counters. The basement comes with oversized windows, bedroom, rec room, full Bathroom, heated floors and 2 high efficiency furnaces. The interior of the home has never been completed and you can pick your colors. This home is situated in the high end community of Evergreen next to Fish Creek Park.  Contact us for the interior specifications.

Click here for more information, map mortgage calculator and photos: C3501657

  Wow! You have to see this WALK OUT VILLA! Open floor plan with 10Ft Ceilings, gorgeous hardwood floors and large picture windows to maximize the VIEWS. The generous sized kitchen nook will accomodate a full sized dining table. Spacious great room for easy furniture arrangement. Master suite features a walk in closet and 4 piece ensuite. Convenient main floor laundry. Walkout basement provides a large family room for entertaining plus plenty of room for a pool table. Second bedroom adjacent to a SPA bath with a heated jetted tub. Hobby room or den. South facing deck plus a covered patio with a relaxing view of the pond. Excellent location on a quiet Street. Only a short walk to all the shops, restaurants and amenities Mackenzie Town has to offer.

Click here for more information, map mortgage calculator and photos: C3501168

Do you sometimes review the real estate ads in your local paper? Do you drive by an open house sign and feel the urge to stop and check it out? Those are common indications that, at least on some level, you’re thinking about the possibility of making a move. But how do you decide if you should actually move?

The first step is to consider whether there are any practical reasons to consider buying a new home. What’s pushing you in that direction?
• Is your current home too small for your needs?
• Is the commute to work, for you or your spouse, too long? (Perhaps longer than you expected when you purchased the home?)
• Are there property features you would now like to have, such as a larger backyard or a more spacious kitchen?
• Has the neighborhood changed in an undesirable way?
• Do you have personal reasons for wanting to move, such as a desire to be closer to relatives in another area?

Carefully consider those things that can’t change unless you move. For example, if a major highway was recently built near you, the ongoing sound of traffic isn’t going to go away. It’s now part of the neighborhood.If there are no practical reasons for moving, there may still be other reasons for wanting a new home. You may want to move your family to a better neighborhood, with better schools or you may simply want a bigger home, with a larger backyard, more rooms, and a wider driveway.

There’s absolutely nothing wrong with simply wanting a better place than the one you have now. In fact, that is a common reason why many people make a move.
The point is, if you’ve been thinking about a new home for awhile, perhaps now is the time to take the next step. A good REALTOR® can help you understand your options.