Calgary Real Estate Market Update
2
March 4, 2011 Greetings friend, It appears that if winter is here, spring could still be far far away, in Calgary. I hope you like this beautiful traditional Chinese painting of “Plum Blossom” - those delicate pedals open freely in late winter, with snowy landscape as backdrop, symbolizing spirit and strength of life. We proud Calgarians all have our true colors to show to old man winter, eh? Once again I bring you the monthly update in real estate market, which is definitely warmer than the weather! Good change has shown, and I never felt this confident before when I told people, “It is time to buy!” I hope you enjoy it! Till next time Yours truly, Hong CREB February Stats - CALGARY’S HOUSING MARKET RECOVERY CONTINUES AT A GRADUAL PACE For the second month in a row, single family home sales in the city of Calgary increased over previous month figures and levels recorded in February 2010. condominium sales increased comparing with last month, but showed decrease from January 2010. Single family homes Jan. 2011 Feb. 2011 Number of sales 791 1169 Average price $454,163 $461,786 Median price $390,000 $400,000 Average days on market 56 45 Condominium Jan. 2011 Feb. 2011 Number of sales 302 468 Average price $282.768 $290,145 Median price $255,000 $267,000 Average days on market 61 52 “The convergence of affordability, low interest rates, a good selection of inventory and improved confidence in the Alberta’s energy sector is building the foundation for a sustainable housing recovery. Sales of single family homes priced below $400,000 are driving the gradual recovery, with the expectation that as the year progresses we should see the sales shift to homes priced in the mid range of the market. The Bank of Canada announced that interest rates will remain unchanged until summer to encourage continued economic growth in Canada. Improvements in the energy sector will translate into growth in employment and net- migration in Alberta and Calgary. This will boost consumer confidence and ultimately improve housing demand.” says Sano Stante, resident of CREB®. If you liked my newsletter, forward it to your friends! I need your help to grow my business!
description
Calgary Real Estate Market Update
Transcript of Calgary Real Estate Market Update
March 4, 2011
Greetings friend, It appears that if winter is here, spring could still be far far away, in Calgary. I hope you like this beautiful traditional Chinese painting of “Plum Blossom” - those delicate pedals open freely in late winter, with snowy landscape as backdrop, symbolizing spirit and strength of life. We proud Calgarians all have our true colors to show to old man winter, eh? Once again I bring you the monthly update in real estate market, which is definitely warmer than the weather! Good change has shown, and I never felt this confident before when I told people, “It is time to buy!” I hope you enjoy it! Till next time Yours truly, Hong CREB February Stats - CALGARY’S HOUSING MARKET RECOVERY CONTINUES AT A GRADUAL PACE
For the second month in a row, single family home sales in the city of Calgary increased over previous month figures and levels recorded in February 2010. condominium sales increased comparing with last month, but showed decrease from January 2010.
Single family homes
Jan. 2011 Feb. 2011
Number of sales 791 1169
Average price $454,163 $461,786
Median price $390,000 $400,000
Average days on market 56 45
Condominium
Jan. 2011 Feb. 2011
Number of sales 302 468
Average price $282.768 $290,145
Median price $255,000 $267,000
Average days on market 61 52
“The convergence of affordability, low interest rates, a good selection of inventory and improved confidence in the Alberta’s energy sector is building the foundation for a sustainable housing recovery. Sales of single family homes priced below $400,000 are driving the gradual recovery, with the expectation that as the year progresses we should see the sales shift to homes priced in the mid range of the market. The Bank of Canada announced that interest rates will remain unchanged until summer to encourage continued economic growth in Canada. Improvements in the energy sector will translate into growth in employment and net-migration in Alberta and Calgary. This will boost consumer confidence and ultimately improve housing demand.” says Sano
Stante, resident of CREB®.
If you liked my newsletter, forward it to your friends!
I need your help to grow my business!
MLS Absorption Rate
February MLS month end inventory: 8929 February total MLS sales: 1967
Absorption Rate: 4.54
Heading To a Balanced Market
- Short-term year-over-year price growth expectations for the Calgary resale housing market are in the range of five to seven per cent, according to the Conference Board of Canada. In its Metro Resale Index released Feb. 24. - Alberta officially became the most affordable province in the country for home ownership in the fourth quarter of 2010 and affordability in Calgary is now the best it's been in almost six years, says a report released Feb.24th by RBC. The significant improvement in affordability is near the end of its line, however. - Do not rent and wait any longer! Cost of owning will increase as interest rate goes up. No one can predict price, but rate increase is reality already. Call me for a free Buyer Consultation today!
My Featured Listing
Wonderful Family Home in Tuscany!
2000sqft, 3+1 bedrooms, 4 baths
fully finished walkout basement
open, sunny and bright, spotless
big deck, nice yard
friendly quite cue-de-sac
offered at $568,888!
Hong WanHong WanHong WanHong Wangggg Realtor
Certified Condominium Specialist Greater Calgary Real Estate Services Inc
403-397-6809 http://www.hongwang.ca/
Become fan of my Facebook Fanpage!
