CALGARY - Calgary’s resale housing market is on pace to break the record for MLS sales during the month of September - a peak that has been in place since 2005.
According to the Calgary Real Estate Board, month-to-date from September 1-21, there have been 1,500 sales in the city, which is up 11.61 per cent from the same period a year ago.
The September monthly record was established in 2005 with 2,197 transactions. Last year for the entire month of September there were 1,919 sales, which was the second best September on record.
“Whenever a market sees record growth one should ask what is going on behind the scenes to cause this? Many factors propel a strong real estate market,” said Tanya Eklund, realtor with RE/MAX Real Estate (Central) in Calgary. “Buyer confidence is influenced by low unemployment rates, continued low interest rates, low vacancy and high migration into Calgary all of which are driven by strength in the oil and gas sector. Calgarians are in a good place and are feeling confident in the real estate market.”
The average MLS sale price this month of $482,113 is up 5.73 per cent from a year ago while the median price has risen by 3.58 per cent to $420,000.
New listings in September have increased by 14.03 per cent to 2,390 while active listings as of Sunday were 4,785, up 16.37 per cent from last year.
“The dramatic population growth we experienced in 2013 is now being felt in the Calgary real estate market. It usually takes 18 months for the population growth to impact a real estate sales market, but due to the very low vacancy and the continued influx of new residents, this has pushed this to a much shorter time line,” said Don Campbell, senior analyst with the Real Estate Investment Network.
“Yes, the market will eventually slow when winter hits. However what we are witnessing here in Calgary . . . is a widening of the busiest months. It used to peak in April and May, but now due to the growth in jobs and population, the busy season is now encompassing April to October. A new trend has formed and real estate professionals must adjust their businesses accordingly.”
According to Mike Fotiou, associate broker with First Place Realty, overall September prices are at their highest September level ever.
Those prices are also being boosted by 49 luxury home sales so far this month, which surpasses every previous September month-end total except last year which set the peak at 59 transactions at the million-dollar plus level, said Fotiou.
After two straight months of year-over-year sales declines, the single-family market is poised to break the string this month as transactions so far are 962, up 1.69 per cent from a year ago. The average sale price of $564,017 has increased by 10.1 per cent and the median price has jumped by 6.94 per cent to $481,250.
In August, Calgary recorded its 17th consecutive month of year-over-year gain in MLS sales and 31st consecutive month of annual price hikes.
By Mario Toneguzzi, Calgary Herald
Tuesday, September 30, 2014
Calgary house hunters expect to pay more than they first thought
Half of buyers expect to spend nearly $90,000 more
CALGARY - A new survey says 47 per cent of Calgary house hunters now expect to spend 19 per cent more on a new home - an increase of $89,389 - from when they first started looking.
The BMO Fall Home-Buying Report, released Friday, said most expected to spend $568,458.
The survey, conducted by Pollara, revealed the main reasons for the higher price expectations: 86 per cent say housing prices have risen since they first started looking; 81 per cent have a better understanding of current prices; and 56 per cent were able to save more for a down payment.
“Housing prices in Canada have risen 18 per cent over the past four years,” said Martin Nel, vice-president of personal banking products for BMO Bank of Montreal. “As prices rise, house hunters need to ensure their savings are keeping pace, especially first-time buyers who don’t have the leverage of a current house in the market.”
According to the Calgary Real Estate Board, month-to-date until Thursday, the average MLS sale price in the city of $481,326 has risen by 5.82 per cent from last year.
In Alberta, the survey found that 44 per cent of house hunters now expect to spend 20 per cent more on a new home, or $82,291, up to $499,760.
At the national level, 43 per cent said they expect to spend 21 per cent more on a new home - an increase of $83,556 - from when they first started looking, an increase to $483,397.
The BMO survey found that 57 per cent of house hunters in Toronto have increased their price point and Toronto buyers expect to spend the most in Canada with the highest increase among major cities at 20 per cent or $106,883 to $634,745.
The survey found that 55 per cent of potential homebuyers have had to consider additional housing options or eliminate their first choice, citing reasons of cost, availability, and concerns surrounding the condo market. For those who eventually changed their preference or started considering more options, condos and detached houses were originally the most popular type of home being considered; semi-detached and townhouses are now the leading options, said BMO.
Month-to-date in Calgary, average MLS sale prices and year-over-year increases in the different housing categories were: single-family homes, $564,299, 10.53 per cent; condo apartments, $327,873, 5.97 per cent; and condo townhouses, $348,463, 1.16 per cent.
“By shifting toward semis and townhomes and away from detached and condos, buyers appear to want their cake and eat it too - a backyard for the kids to play in, but also something that won’t break the budget, notably in Vancouver and Toronto,” said Sal Guatieri, senior economist with BMO Capital Markets.
The survey found that: 76 per cent of buyers are concerned the condo market is overdeveloped and that a condo will not hold its value compared to a detached, semi-detached, or townhouse; 61 per cent had to consider additional options after seeing what was available in their first choice; and 80 per cent would opt for a detached, semi-detached, or townhouse over a condo, if they found one in their price range.”
By Mario Toneguzzi, Calgary Herald
CALGARY - A new survey says 47 per cent of Calgary house hunters now expect to spend 19 per cent more on a new home - an increase of $89,389 - from when they first started looking.
The BMO Fall Home-Buying Report, released Friday, said most expected to spend $568,458.
The survey, conducted by Pollara, revealed the main reasons for the higher price expectations: 86 per cent say housing prices have risen since they first started looking; 81 per cent have a better understanding of current prices; and 56 per cent were able to save more for a down payment.
“Housing prices in Canada have risen 18 per cent over the past four years,” said Martin Nel, vice-president of personal banking products for BMO Bank of Montreal. “As prices rise, house hunters need to ensure their savings are keeping pace, especially first-time buyers who don’t have the leverage of a current house in the market.”
According to the Calgary Real Estate Board, month-to-date until Thursday, the average MLS sale price in the city of $481,326 has risen by 5.82 per cent from last year.
In Alberta, the survey found that 44 per cent of house hunters now expect to spend 20 per cent more on a new home, or $82,291, up to $499,760.
At the national level, 43 per cent said they expect to spend 21 per cent more on a new home - an increase of $83,556 - from when they first started looking, an increase to $483,397.
The BMO survey found that 57 per cent of house hunters in Toronto have increased their price point and Toronto buyers expect to spend the most in Canada with the highest increase among major cities at 20 per cent or $106,883 to $634,745.
The survey found that 55 per cent of potential homebuyers have had to consider additional housing options or eliminate their first choice, citing reasons of cost, availability, and concerns surrounding the condo market. For those who eventually changed their preference or started considering more options, condos and detached houses were originally the most popular type of home being considered; semi-detached and townhouses are now the leading options, said BMO.
Month-to-date in Calgary, average MLS sale prices and year-over-year increases in the different housing categories were: single-family homes, $564,299, 10.53 per cent; condo apartments, $327,873, 5.97 per cent; and condo townhouses, $348,463, 1.16 per cent.
“By shifting toward semis and townhomes and away from detached and condos, buyers appear to want their cake and eat it too - a backyard for the kids to play in, but also something that won’t break the budget, notably in Vancouver and Toronto,” said Sal Guatieri, senior economist with BMO Capital Markets.
The survey found that: 76 per cent of buyers are concerned the condo market is overdeveloped and that a condo will not hold its value compared to a detached, semi-detached, or townhouse; 61 per cent had to consider additional options after seeing what was available in their first choice; and 80 per cent would opt for a detached, semi-detached, or townhouse over a condo, if they found one in their price range.”
By Mario Toneguzzi, Calgary Herald
Calgary luxury home sales
All 9 months this year establish new peak levels---
Each month this year has established a record for luxury home sales in Calgary’s resale market.
As of Thursday, a total of 61 MLS properties in the city have sold for $1 million or more, eclipsing the previous record of 59 for the month set last year. The most expensive sale so far this month was for a home in Briar Hill at $4.6 million. The neighborhoods of Altadore/River Park and Elbow Park/Glencoe lead the way in sales in September with six and five transactions respectively as of Thursday.
Each month this year has established a record for luxury home sales in Calgary’s resale market.
As of Thursday, a total of 61 MLS properties in the city have sold for $1 million or more, eclipsing the previous record of 59 for the month set last year. The most expensive sale so far this month was for a home in Briar Hill at $4.6 million. The neighborhoods of Altadore/River Park and Elbow Park/Glencoe lead the way in sales in September with six and five transactions respectively as of Thursday.
Wednesday, September 10, 2014
SOLD 西南区Aspen Woods前置三车库、walkout地下室 $868,000.00
105 Aspen Stone Road S.W. C3629862
Over 3,100 square feet of developed space. This exceptional walkout home, has sunny West facing backyard, plus a 3 car garage. Recently renovated powder room and kitchen, with gorgeous oversized quartzite island, great for entertaining. Soaring Vaulted ceiling at entrance. Extensive hardwood flooring on main floor open plan. Designer paint and fixtures, high end stainless steel appliances, including Bosch gas cooktop. The upper deck runs the entire width of the home and includes staircase to yard, lower deck is covered. Large yard professionally landscaped. Oversized Bonus Room, completely wired for sound. Large Master Bedroom, with soaker tub and separate shower. Home boast large rooms. Lower level completely finished, with 3 piece bathroom, bedroom, living area, and wet bar (ideal for a live in nanny or in-law, or teenage kids). Double furnace, built in vacuum system, and water softener.
Tuesday, September 9, 2014
Calgary resale housing market on pace to eclipse $11.3B sales record
CALGARY - Calgary’s resale housing market is on pace to set a record for total dollar volume in MLS sales in a year, eclipsing the $11.3 billion peak established during the housing boom of 2007.
Year-to-date until the end of August, there have been 18,521 transactions at an average sale price of $482,185 for a total dollar volume of $8.9 billion, according to the Calgary Real Estate Board. Last year, during the same period, there were 16,712 sales with an average price of $456,629 and a total dollar volume of $7.6 billion.
During the record year of 2007, there were 26,611 total sales all year with an average sale price of $423,770. Last year was the second highest dollar volume on record at $10.7 billion with 23,474 sales and an average sale price of $456,595.
“The listings that I am currently working on have a common theme: they are owned by savvy investors who see the strength in Calgary’s market and they are choosing to cash in,” said Dempsey.
Average sale prices in Calgary have jumped by more than $225,000 since 2005.
Calgary’s latest housing boom is being fuelled by net migration. According to Canada Mortgage and Housing Corp., net migration to the Calgary census metropolitan area was 45,168 in 2013 and 31,996 in 2012. During the housing boom of 2006-2007, net migration peaked at 25,120 in 2006.
“The higher dollar volume is a reflection of the composition of sales,” said Ann-Marie Lurie, CREB’s chief economist. “When we look at what at this year compared to 2007, of all residential sales activity a greater share of the sales have been occurring in the $500,000 plus price ranges. Meanwhile, the share of sales has dropped for the under $400,000 sales.
“With a greater number of sales occurring in the higher price ranges, it is not a surprise that the dollar volume of sales has increased at a faster pace than the growth in number of transactions.”
By Mario Toneguzzi, Calgary Herald
Year-to-date until the end of August, there have been 18,521 transactions at an average sale price of $482,185 for a total dollar volume of $8.9 billion, according to the Calgary Real Estate Board. Last year, during the same period, there were 16,712 sales with an average price of $456,629 and a total dollar volume of $7.6 billion.
During the record year of 2007, there were 26,611 total sales all year with an average sale price of $423,770. Last year was the second highest dollar volume on record at $10.7 billion with 23,474 sales and an average sale price of $456,595.
“The listings that I am currently working on have a common theme: they are owned by savvy investors who see the strength in Calgary’s market and they are choosing to cash in,” said Dempsey.
Average sale prices in Calgary have jumped by more than $225,000 since 2005.
Calgary’s latest housing boom is being fuelled by net migration. According to Canada Mortgage and Housing Corp., net migration to the Calgary census metropolitan area was 45,168 in 2013 and 31,996 in 2012. During the housing boom of 2006-2007, net migration peaked at 25,120 in 2006.
“The higher dollar volume is a reflection of the composition of sales,” said Ann-Marie Lurie, CREB’s chief economist. “When we look at what at this year compared to 2007, of all residential sales activity a greater share of the sales have been occurring in the $500,000 plus price ranges. Meanwhile, the share of sales has dropped for the under $400,000 sales.
“With a greater number of sales occurring in the higher price ranges, it is not a surprise that the dollar volume of sales has increased at a faster pace than the growth in number of transactions.”
By Mario Toneguzzi, Calgary Herald
Getting more difficult for Canadians to move up out of starter homes
CALGARY - A new report from CIBC World Markets says price increases in mid- and high-priced homes are far outpacing those of lower-priced ones, which is making it increasingly more difficult for many Canadians to move up out of their starter homes.
“The value of bigger and pricier properties is rising notably faster than less expensive properties — widening the gap between starter home and dream house,” said Benjamin Tal, deputy chief economist at CIBC. “Regardless of what your starting point is, and by how much your property has appreciated, the desired move up target is getting further and further out of reach.”
The report said “gravity-defying” home valuations exacerbated by tighter mortgage insurance regulations have worked to price out a notable portion of the first-time homebuyer’ market while at the same time an “asymmetrical trajectory” of price appreciation is starting to “paralyse” the move up market.
The dynamic is also taking place in Calgary, said Tal.
“If there is a durable market, if you wish, I think that Calgary, and Alberta in general, seems the one,” he said. “Though I expect to see some moderation in activity in 2015 and 2016 in the rest of the country, especially when interest rates start rising, I do believe that in Calgary and in Edmonton the situation will not be as severe or not to the same extent. In fact, I would not be surprised if we don’t see any adjustment to prices.”
According to the Calgary Real Estate Board, so far in September until Sunday, the average MLS sale price for a residential property in Calgary was $489,040, up 4.14 per cent from the same period a year ago. The median price has increased 1.13 per cent to $424,750. Total MLS sales of 432 so far this month have risen by 8.27 per cent. Average annual MLS sale prices in Calgary have climbed from $256,327 in 2005 to $456,595 last year. Year-to-date until the end of August, the average price for 2014 was $482,185.
Ann-Marie Lurie, CREB’s chief economist, said salaries in Calgary tend to be fairly high.
“There are people whose salaries aren’t necessarily increasing by that much so it’s harder for them to get the next stage of the home. But then there’s other people who frankly their wages are increasing. They have those high levels and they’ve earned enough equity in their first home to move up. And we’ve seen that now,” she said. But if there isn’t as much price gains moving forward, it will be harder to build that additional equity, said Lurie.
Tal said most Canadians have followed a well-known narrative.
“You graduate from school, land your first job, get married, buy your first house, start a family, and after a number of years, move up to a larger house to accommodate your growing family,” he said. “However, there are many indications that this cycle that dominated the Canadian housing market for decades, is breaking.” He said the homeownership rate among Canadians aged 25-35 (first-time homebuyers) has fallen from 55 per cent in 2012 to the current 50 per cent. For those over the age of 35, the homeownership rate remained stable. “With limited move up options, it’s no surprise then that many Canadians choose to renovate their existing homes,” said Tal.
“Over the past five years, spending on home renovations as a share of total residential investment averaged close to 46 per cent—by far the largest share on record. Renovation activity will remain robust and, in fact, might accelerate in the coming years.”
By Mario Toneguzzi, Calgary Herald
“The value of bigger and pricier properties is rising notably faster than less expensive properties — widening the gap between starter home and dream house,” said Benjamin Tal, deputy chief economist at CIBC. “Regardless of what your starting point is, and by how much your property has appreciated, the desired move up target is getting further and further out of reach.”
The report said “gravity-defying” home valuations exacerbated by tighter mortgage insurance regulations have worked to price out a notable portion of the first-time homebuyer’ market while at the same time an “asymmetrical trajectory” of price appreciation is starting to “paralyse” the move up market.
The dynamic is also taking place in Calgary, said Tal.
“If there is a durable market, if you wish, I think that Calgary, and Alberta in general, seems the one,” he said. “Though I expect to see some moderation in activity in 2015 and 2016 in the rest of the country, especially when interest rates start rising, I do believe that in Calgary and in Edmonton the situation will not be as severe or not to the same extent. In fact, I would not be surprised if we don’t see any adjustment to prices.”
According to the Calgary Real Estate Board, so far in September until Sunday, the average MLS sale price for a residential property in Calgary was $489,040, up 4.14 per cent from the same period a year ago. The median price has increased 1.13 per cent to $424,750. Total MLS sales of 432 so far this month have risen by 8.27 per cent. Average annual MLS sale prices in Calgary have climbed from $256,327 in 2005 to $456,595 last year. Year-to-date until the end of August, the average price for 2014 was $482,185.
Ann-Marie Lurie, CREB’s chief economist, said salaries in Calgary tend to be fairly high.
“There are people whose salaries aren’t necessarily increasing by that much so it’s harder for them to get the next stage of the home. But then there’s other people who frankly their wages are increasing. They have those high levels and they’ve earned enough equity in their first home to move up. And we’ve seen that now,” she said. But if there isn’t as much price gains moving forward, it will be harder to build that additional equity, said Lurie.
Tal said most Canadians have followed a well-known narrative.
“You graduate from school, land your first job, get married, buy your first house, start a family, and after a number of years, move up to a larger house to accommodate your growing family,” he said. “However, there are many indications that this cycle that dominated the Canadian housing market for decades, is breaking.” He said the homeownership rate among Canadians aged 25-35 (first-time homebuyers) has fallen from 55 per cent in 2012 to the current 50 per cent. For those over the age of 35, the homeownership rate remained stable. “With limited move up options, it’s no surprise then that many Canadians choose to renovate their existing homes,” said Tal.
“Over the past five years, spending on home renovations as a share of total residential investment averaged close to 46 per cent—by far the largest share on record. Renovation activity will remain robust and, in fact, might accelerate in the coming years.”
By Mario Toneguzzi, Calgary Herald
Wednesday, September 3, 2014
2014年八月份市场统计
八月份公寓市场再创新高
独立屋市场部分成交量下降、公寓市场继续成交火旺
2014年九月二日，在共管公寓、排屋市场走强的带动下，八月份民宅成交量比去年同期涨了3.4%。共有2267套成交，而去年同期为2192套。共管公寓、排屋成交强势，分别为14%、20%，共790单元。
行业专家认为八月份公寓市场活跃的原因在于这一本分产品的价格可承受力，加上租赁市场紧俏以及低贷款利率。请注意超过76%的新挂牌价格公寓低于40万，同时这一产品占了整个民宅市场的68%以上（也就是低于32%的在售房源是40万以上的公寓、全部独立屋）。
截至到八月份为止，共管公寓、排屋市场共售出3388单元、2685单元。与去年同期相比，成交量长了近20%。过去的三个月以来，公寓市场的新挂牌量持续提升，尽管成交量强势，但是市场不过走向均衡态势。
本月份独立屋市场才售出1477套，比去年同期低了2.4%，部分原因在于低价位段的产品供应有限。尽管成交量活跃度有限，但是仍然高于长线市场态势。独立屋市场40万以内的房源供应相当有限，40万以上的产品段成交量还是改善的（那部分相对有些购买力的买家，只能忍了。能买些啥，就买些啥吧。而低于40万的自住买家、投资客就相对起来犹豫地多了，因为毕竟手中就那么些钱，或者就想用那么多钱办事）。
买家还是不要太悲观的，因为八月份新挂牌量比去年同期还是提升了13.6%，导致总体可选房源提升了18%。提升的可售房源帮助独立屋市场走向更加均衡的态势，也缓解了价格的继续走强。独立屋市场基准价仍然保持$512,300，和七月份相差无几，还是比去年的$464,700涨了10.24%。
卡尔加里的市场保持卖方市场有段时间了，整个市场走向均衡态势是个好消息，使得整个市场向对稳定。
本月共管公寓市场均价、中间价以及基准价分别为$332,006,$287,500和 $298,200。市场均价、中间价都有涨幅，市场基准价和七月份相差无几。已售房源和七月份相比走向高一点儿的价位区间，主要源于价格涨高了一些。
排屋市场段仍然是整个房地产市场中最紧俏的产品区间，持续提升的市场基准价达到了$328,300。仅比七月份涨了0.4%，比去年同期涨了近10%。
SOLD 西南区Braeside 排屋 售价=要价
c3625995 # 90 740 Bracewood DR SW
INVESTORS & FIRST TIME HOME BUYER ALERT! Excellent value in this fabulous 2 storey, 3 bedroom, end unit townhouse locates at a quiet street. It has been looked after well in the last several years. It is clean and easy to show. A wonderful layout starts at the main floor with a sunny, east exposure private yard and deck to enjoy. Newer laminate floorings can be found throughout main floor, basement, staircase. On lower level is a good size rec room perfect for teens or anyone who wants to escape for a while. Laundry/furnace room located off the rec room. Put it on your must to see list. A really great place to call home!
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