Calgary Repeat Home Sales Prices Drop 1.5% In October
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Calgary Real Estate News
CALGARY — Calgary house prices in October fell for the second consecutive month, according to a new national survey which looks at repeat home sales.
The Teranet-National Bank National Composite House Price Index, released Thursday, said prices in Calgary fell by 1.5 per cent from September. However, they were up 1.7 per cent compared with a year ago.
The index is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in the calculation of the index.
At the national level, prices were flat for the second consecutive month. Want to read more in depth on this article? Just click the link below.
Calgary Repeat Home Sales Prices Drop 1.5% In October - Calgary Real Estate
Jared & Rebecca
About The Chamberlain Group:
Jared and Rebecca Chamberlain are Calgary REALTORS® who are changing how real estate is done in Calgary by utilizing online marketing and advanced tools to sell your house in Calgary faster and for far more money. They would be honored to have the chance to work with you and earn your business. ____________________________________________________
Canadian Housing Market Showing Signs Of A Classic Bubble: Merrill Lynch
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Calgary Real Estate News
CALGARY — A report by Bank of America Merrill Lynch says Canadian home prices are now showing many of the signs of a “classic bubble.”
“We estimate the housing market nationwide is about 10 per cent over valued,” says the report released on Monday by economists Ryan Bohren and Sheryl King. “Even so, the only way these valuations can be explained is by the record low mortgage rates. Under more normalized interest rates, home prices would actually look 25 per cent overvalued based on current prices.”
The report says Canada is somewhat shielded from the economic fallout from the European debt crisis but is certainly not “impregnable” particularly if unemployment goes to about eight per cent.
“In our view, the housing market is one of the most vulnerable sectors to this weakening economic environment, showing classic signs of over valuation, speculation and over supply,” says the report. “We are not calling for an all out rout in the market — but caution is now decidedly warranted.” Want to read more in depth on this article? Just click the link below.
Canadian Housing Market Showing Signs Of A Classic Bubble: Merrill Lynch - Calgary Real Estate
Jared & Rebecca
About The Chamberlain Group:
Jared and Rebecca Chamberlain are Calgary REALTORS® who are changing how real estate is done in Calgary by utilizing online marketing and advanced tools to sell your house in Calgary faster and for far more money. They would be honored to have the chance to work with you and earn your business. ____________________________________________________
Elbow Park Mansion Sets Top Price For Calgary Home Sales In 2011: $5 Million
Filed Under Buying, Calgary News Articles, Calgary Real Estate, Calgary Real Estate News, Contributors, Selling · Tagged: Calgary Real Estate, Calgary Real Estate News
Calgary Real Estate News
CALGARY — The highest priced MLS sale in Calgary this year of over $5 million took place recently for a property in the Elbow Park/Glencoe neighbourhood and was the fifth highest sale ever in the city.
John Hripko, realtor for Royal LePage Foothills who listed the property, said he defines the “luxury” market as homes priced over $3 million and “it’s extremely active so far as for the number of inquiries, showings and interest in the product.”
“It’s just a matter of the public finding the home that fits their needs,” he said. “Many of them don’t want to go through the process of a two to three year cycle of construction. But they’re buying existing newer homes. I almost find that, personally, in the last six months virtually unprecedented demand or contact for this type of product.”
The Elbow Park/Glencoe property, which had a list price of $5,590,000, sold on December 10 for $5,050,000 and was on the market for 101 days. Want to read more in depth on this article? Just click the link below.
Elbow Park Mansion Sets Top Price For Calgary Home Sales In 2011: $5 Million – Calgary Real Estate
Jared & Rebecca
About The Chamberlain Group:
Jared and Rebecca Chamberlain are Calgary REALTORS® who are changing how real estate is done in Calgary by utilizing online marketing and advanced tools to sell your house in Calgary faster and for far more money. They would be honored to have the chance to work with you and earn your business. ____________________________________________________
Calgary Rental Vacancy Rate Continues To Decline
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Calgary Real Estate News
CALGARY — It’s getting tougher these days to find a place to rent in the Calgary region.
Canada Mortgage and Housing Corp.’s Fall Rental Market Survey shows that the apartment vacancy rate in the Calgary census metropolitan area decreased to 1.9 per cent in October, compared with 3.6 per cent in the previous year.
“Increased migration flows supported by improving economic conditions and a return to robust job creation and lower unemployment increased demand for rental accommodations,” said Richard Cho, senior market analyst in Calgary for the CMHC.
Most zones in Calgary saw their apartment vacancy rates decline from last year, while others remained relatively stable, he said. Want to read more in depth on this article? Just click the link below.
Calgary Rental Vacancy Rate Continues To Decline – Calgary Real Estate
Jared & Rebecca
About The Chamberlain Group:
Jared and Rebecca Chamberlain are Calgary REALTORS® who are changing how real estate is done in Calgary by utilizing online marketing and advanced tools to sell your house in Calgary faster and for far more money. They would be honored to have the chance to work with you and earn your business. ____________________________________________________
New Rules For Residential Growth In Calgary
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Calgary Real Estate News
Decisions over where future condominiums will rise and which fields will be turned into suburban homes is soon to be subject to a new set of criteria the city hopes will help it assess where and when different parts of Calgary should grow.
City officials will be piecing together a system to weigh nine growth criteria, which council can use as a guide when it makes land planning decisions.
“It’s a much more transparent way of making decisions on where we grow and in what sequence we grow,” said David Watson, the general manager of planning development and assessment. Want to read more in depth on this article? Just click the link below.
New Rules For Residential Growth In Calgary - Calgary Real Estate
Jared & Rebecca
About The Chamberlain Group:
Jared and Rebecca Chamberlain are Calgary REALTORS® who are changing how real estate is done in Calgary by utilizing online marketing and advanced tools to sell your house in Calgary faster and for far more money. They would be honored to have the chance to work with you and earn your business. ____________________________________________________
Low Borrowing Costs Lure Home Buyers
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Calgary Real Estate News
Existing home sales rose slightly in November as continued low borrowing costs pushed housing closer to seller’s market territory, the Canadian Real Estate Association said Thursday.
On a seasonally adjusted basis, sales were up 0.5 per cent in November over October -the third straight monthly gain -and were also ahead of last year’s levels, though overall sales were in line with the 10-year average, CREA said.
“Despite numerous headwinds – slower job growth, softer consumer confidence, tighter mort-gage rules, elevated household debt and high valuations – buyers simply couldn’t resist the lure of cheap borrowing costs – especially given the benign rate out-look,” Sal Guatieri, senior economist with BMO Capital Markets, said in a note. Want to read more in depth on this article? Just click the link below.
Low Borrowing Costs Lure Home Buyers - Calgary Real Estate
Jared & Rebecca
About The Chamberlain Group:
Jared and Rebecca Chamberlain are Calgary REALTORS® who are changing how real estate is done in Calgary by utilizing online marketing and advanced tools to sell your house in Calgary faster and for far more money. They would be honored to have the chance to work with you and earn your business. ____________________________________________________
Home Sales Inch Toward Seller’s Market
Filed Under Buying, Calgary News Articles, Calgary Real Estate, Calgary Real Estate News, Contributors, Selling · Tagged: Calgary Real Estate, Calgary Real Estate News
Calgary Real Estate News
Sales of existing home sales rose slightly in November as continued low borrowing costs pushed housing closer to seller’s market territory, the Canadian Real Estate Association said Thursday.
On a seasonally adjusted basis, sales were up 0.5 per cent in November over October – the third straight monthly gain – and were also ahead of last year’s levels, though overall sales were in line with the 10-year average, CREA said.
“Despite numerous headwinds – slower job growth, softer consumer confidence, tighter mortgage rules, elevated household debt and high valuations – buyers simply couldn’t resist the lure of cheap borrowing costs – especially given the benign rate outlook,” Sal Guatieri, senior economist with BMO Capital Markets, said in a note. Want to read more in depth on this article? Just click the link below.
Home Sales Inch Toward Seller’s Market - Calgary Real Estate
Jared & Rebecca
About The Chamberlain Group:
Jared and Rebecca Chamberlain are Calgary REALTORS® who are changing how real estate is done in Calgary by utilizing online marketing and advanced tools to sell your house in Calgary faster and for far more money. They would be honored to have the chance to work with you and earn your business. ____________________________________________________
Housing Prices Cool Though Sales Still Brisk
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Calgary Real Estate News
Driven by hot markets in some unlikely places, housing prices are still rising in Canada, but not by nearly as much as earlier in the year, new data show.
The average price nationally for a resale home in November was $360,400, the Canadian Real Estate Association said Thursday, up 4.6 per cent from November 2010 but unchanged from October.
That’s the lowest price rise this year. From February through July, CREA’s monthly reports showed housing prices rising more than eight per cent over 2010. Want to read more in depth on this article? Just click the link below.
Housing Prices Cool Though Sales Still Brisk – Calgary Real Estate
Jared & Rebecca
About The Chamberlain Group:
Jared and Rebecca Chamberlain are Calgary REALTORS® who are changing how real estate is done in Calgary by utilizing online marketing and advanced tools to sell your house in Calgary faster and for far more money. They would be honored to have the chance to work with you and earn your business. ____________________________________________________
Prices Will Keep Rising, Experts Agree
Filed Under Buying, Calgary News Articles, Calgary Real Estate, Calgary Real Estate News, Contributors, Selling · Tagged: Calgary Real Estate, Calgary Real Estate News
Calgary Real Estate News
National home sales rose 0.5% in November for the third straight monthly gain, according to the Canadian Real Estate Association on Thursday. But the picture in Toronto was significantly more robust, with residential real estate transactions up 11% from last November and the average home price up almost 10% for the same period, according to the Toronto Real Estate Board. Those numbers add to speculation that homebuyers in Toronto are more optimistic than they should be. Buy, sell, sit tight? The Post’s Jane Gerster spoke with Toronto real estate agent Tom Karadza and Don Campbell, president of the Real Estate Investment Network, to get their opinions.
Q Should we be worried that we’re in a bubble?
Karadza It’s such a big answer…. I don’t know if we’re in a bubble because the market is hot and could require some cooling.- I don’t think we’re approaching a seller’s market … from what we see, we’re [already] in a seller’s market. The real estate market in Canada could probably use some healthy cooling. Want to read more in depth on this article? Just click the link below.
Prices Will Keep Rising, Experts Agree - Calgary Real Estate
Jared & Rebecca
About The Chamberlain Group:
Jared and Rebecca Chamberlain are Calgary REALTORS® who are changing how real estate is done in Calgary by utilizing online marketing and advanced tools to sell your house in Calgary faster and for far more money. They would be honored to have the chance to work with you and earn your business. ____________________________________________________
Calgary MLS Sales Jump In November
Filed Under Buying, Calgary News Articles, Calgary Real Estate, Calgary Real Estate News, Contributors, Selling · Tagged: Calgary Real Estate, Calgary Real Estate News
Calgary Real Estate News
CALGARY — The year-over-year growth rate for Calgary MLS residential sales in November grew at a pace three times more than the national average, according to data released Thursday by the Canadian Real Estate Association.
The association said there were 1,656 MLS sales in Calgary during the month, a hike of 16.0 per cent from November 2010.
Nationally, there were 34,534 sales representing an increase of 5.0 per cent.
In Calgary, the average MLS sale price in November was $398,722 which was basically the same as a year ago while the Canadian average price grew by 4.6 per cent to $360,396.
New listings in Calgary dropped by 5.3 per cent to 2,356 but they grew by 2.7 per cent across the country to 53, 515.
“The Canadian housing market is proving resilient in the face of ongoing global economic and financial uncertainty, to the benefit of Canadian economic growth,” said Gary Morse, CREA’s president, in a statement. Want to read more in depth on this article? Just click the link below.
Calgary MLS Sales Jump In November - Calgary Real Estate
Jared & Rebecca
About The Chamberlain Group:
Jared and Rebecca Chamberlain are Calgary REALTORS® who are changing how real estate is done in Calgary by utilizing online marketing and advanced tools to sell your house in Calgary faster and for far more money. They would be honored to have the chance to work with you and earn your business. ____________________________________________________
