Annual price hike the highest in Canada By Mario Toneguzzi, Calgary Herald
CALGARY - Calgary’s sizzling resale housing market is showing no signs of cooling as the city recorded the highest year-over-year hike in prices across the country in January - and early indications show February is experiencing a continued escalation in what it costs to buy a home.
The Canadian Real Estate Association released its monthly MLS data on Friday and listed Calgary as the top centre in the country for annual growth in the MLS Home Price Index at 8.98 per cent. Nationally, prices, in the 11 centres surveyed, rose by 4.83 per cent.
The city’s housing market has started 2014 with a bang. The market has not slowed down at all from the healthy pace it set in 2013. “We are seeing multiple offers in all price points. Obviously the lower the price point, the larger pool of buyers there is and hence a greater likelihood of multiple offers in the lower price points,” she said.
But it’s also taking place in the luxury market with 63 homes sold for more than $1 million and eight of those sales involving bidding wars, including a $3.5 million home, added Tost. “Eager buyers that want to find a home will have to make sacrifices to get to the homes the day they are listed in order to have a chance at buying the home of their dreams. While true average days on market are currently at 40 days, this is not the case in most sales,” she said. “Homes that offer a good location, in desirable areas, priced reasonably will sell in hours to a few days in the current marketplace.”
In January, CREA said Calgary MLS sales of 1,802 were up 14.6 per cent from a year ago while in Alberta they rose by 5.6 per cent to 3,681 transactions. Across Canada, there were 23,636 sales, up 0.4 per cent.
The average MLS sale price in Calgary in January rose by 6.0 per cent to $444,153 while in Alberta it was up 7.3 per cent to $388,073. In Canada, the average of $388,553 represented a 9.5 per cent hike from a year ago.
According to the Calgary Real Estate Board, between Feb. 1-13, there have been 794 MLS sales month-to-date in Calgary, which is up 2.72 per cent from the same period a year ago. The average sale price of $496,665 has increased by 9.35 per cent and the median price is up by 8.42 per cent to $428,250. Active listings of 2,717 are down 19.47 per cent while new listings are off by 1.57 per cent to 1,253.
Tost said in-migration to the city continues to contribute to the already busy real estate market and there is more activity from move-up buyers who have the ability to upgrade because of more equity in their homes now as the prices have gone up.
“With an estimated 30,000 people moving to Calgary for 2014 our housing market and rental markets will remain strong throughout the balance of the year,” said Tost, adding the current market is not ideal for buyers.
“It places so much stress on them to make fast decisions, life changing decisions on a 10-minute visit to look at a home. Sellers still have to be mindful when pricing their home. Smart savvy buyers won’t over pay on an overpriced home, but are more likely to bid in a bidding war on a home that seems like a fair offering.”
Tuesday, February 25, 2014
SOLD Strathcona Park over 2800sq.ft two story $824,900
Incredible Executive home in central Strathcona! This amazing home has first class renovations to bring it up to modern tastes while still keeping charm, character and elegance. Private west back yard, with stamped concrete patio and extra large deck. Main floor with huge formal living room and dining room, vaulted open beam ceilings and gleaming hardwood floors. Incredible kitchen with granite counters and top of the line stainless steel appliances, walk in pantry. Large nook area and kitchen over look roomy family room with wood burning fireplace nestled between built in book and entertainment units. Private main floor Den, 2pce bath and laundry. Grand entry with soaring ceilings, sweeping curved stair case to upper library and hall area. 4 bedrooms up includes extra large master with modern ensuite; two sinks, jetted air tub, heated floors and stand-up shower. Basement; Bedroom, Wet Bar, exercise room, rec room, 4pce bath and storage. Hot Tub in the private backyard! Close to 2 great Schools!
Thursday, February 13, 2014
New Schools in Calgary in 2014
2011
Nearly $1.4 billion over three years was made available for school capital projects.
This includes $441 million to support completion of 22 new schools expected to open in the fall of 2014 across high-growth areas of the province, as well as the modernization of 13 existing schools.
2013/14
The Premier's 50/70 commitment includes more than $500 million toward the construction of a further 50 new schools and the modernization of another 70 existing facilities, with an estimated total investment of over $2 billion. Projects will be selected through a comprehensive assessment of various factors including school boards’ priorities, health and safety of students and staff, enrolment projections, current utilization, facility conditions and capacity for program delivery. The government will also continue to work closely with local school boards and stakeholders to explore potential community partnerships and innovative ways of maximizing use of existing and new school space.
Work on announced projects begins immediately following a project’s announcement. All of the projects posted to this page are in various stages of planning and design. Getting “shovels in the ground” is just one step in the process. There are many other critical steps that have to take place first, such as geotechnical investigations, schematic designs, stakeholder consultations, procurement/tendering/contracting, and permitting.
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