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Calgary Real Estate News

Calgary, May 1, 2014 – Following a slow start to the year, improved weather and price gains supported new listings growth. New residential listings in April totaled 3,754 units, an eight per cent increase over the previous year. Meanwhile sales activity totaled 2,545 units for the month, a seven per cent increase over April 2013.

Single Family Homes:

The single-family sector saw a reduction in new listings. Many single-family homeowners have been waiting for further price gains and the start of the spring market to list their homes. Single-family sales in April totalled 1,736 units, representing a year-over-year gain of eight per cent and a year-to-date increase of nine per cent. Meanwhile, single-family new listings totalled 2,584 units in April, a

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New listings remain below expectations in the single family sector.

Residential sales activity improved across all sectors in March. Declining new listings in the single family sector combined with further gains in sales activity decreased single family inventory to the lowest March level since 2006.

Factors contributing to the growth in housing demand, include the inflow of people to our province over the past two years, strong gains in employment and tight rental conditions. Supply conditions vary amongst the different property segments, impacting the number of sales and price growth. Supply constraints could cause further gains as we move into the spring market.

Persistently tight market conditions prevented any relief in terms of price gains.

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 SALES GROWTH BOOSTED BY CONDOMINIUM ACTIVITY

The lack of choice in single family sector impacts sale growth in the city of Calgary.  Following double digit gains last month, sales growth in the city of Calgary totaled 1,854 units, or an 8.68 per cent increase over the same period in 2013. Slower sales growth resulted in a reduction of listings in the single family sector. However, single family sales still totalled 1,230 units, a 1.9 per cent increase over the previous year. The demand growth in the single family sector has been restricted by the availability of product. New listings in this sector fell for the second consecutive month, causing further tightening in an already undersupplied market.

Condominium sales continue to surge. After the first

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CMHC Raises Mortgage Premiums

People without a 20% down payment will be paying more to buy a house. Come May 1, the nation’s largest default insurer is bumping up its standard premiums by 0.10 to 0.40 percentage points. It's the first hike to homeowner insurance premiums since 1998.

Stated income applications will be charged even more.

For the average borrower with 5% down, that makes home buying $992 more expensive (plus interest if the premium is rolled into the mortgage, which it usually is).

The average CMHC insured mortgage at 95% loan-to-value was $248,000 in 2013. CMHC says this will raise that homeowner’s monthly payments by about $5. Not too agonizing.

The impact of this news is negligible unless you’re putting down less than 15%. At

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Sales activity and prices improve over 2013

Calgary, Feb. 2014 On the heels of a strong year of sales growth, January sales in the city of Calgary totaled 1,440 units, a 17 per cent increase over the previous year.

Calgary Condominium Market

Condominium apartment and townhouse sales totaled 466 units in January, a 33 per cent increase over the same period in 2013. New listings in the condominium apartment and townhouse market totaled 809 units, a combined increase of six percent. 

Condominium apartment and townhouse prices totaled $280,600 and $308,100 respectively in January. On average, year-over-year price growth in the townhouse market totaled just more than 8 per cent, compared to the apartment sector increase of nearly 12 per cent. While

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The Calgary housing market is expected to have another year of growth in 2014, with sales and prices going up, according to CREB®.

Sales growth in the city is expected to be 3.6 per cent and price growth is expected to increase 4.3 per cent, with strong migration levels over the past two years have combined with strong employment and wage growth to support further gains in sales next year.

Both sales and price growth exceeded our expectations in 2013. Stronger than expected demand was related to higher than expected migration and employment growth, while the tight rental market got tighter following the floods. Supply levels didn’t keep pace with rising demand, which pushed the market to favour sellers and created stronger than expected price growth.

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Calgary’s resale housing market continued upward in October with annual gains recorded in both sales and selling prices.

The Calgary Real Estate Board (CREB) said MLS sales for the month were up 18 per cent from a year ago, to 1,953 properties, while the average sale price rose five per cent to $458,876.

The October Calgary real estate market kept a consistent absorption rate between two to 2.2 months worth of inventory.

New listings increased nine per cent in October; however active listings were down 16 per cent. The average days on the market to sell a property dropped from 45 in October 2012 to 40 last month.

In Calgary, sales and prices were up across all housing categories during the month.

In the single-family home market, sales were up

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Rise in new listings prevents further tightening in the resale market..

City of Calgary residential sales totaled 1,923 units in September, 19 per cent higher than last year and 14 per cent higher than long-term averages for the month. 

calgary real estateWhile sales activity over the past three months has been above long-term trends, it was less so in September than in July and August.

The impact of the floods likely boosted sales throughout July and August, and it appears as though some of that additional demand is starting to ease. Sales growth remains strong, in part because net migration has been stronger than anticipated and rental product is in short supply.

As Calgary’s market remains in seller’s territory, a notable shift is occurring with new listings,

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Seller’s market conditions persist, pushing up prices

Despite recent flooding, Calgary's housing market continues to push forward thanks in large part to a strong economy, solid labour market, rising population and continuing attractive affordability.

Housing trends and affordability reports showed monthly resale activity increased for six straight months, while affordability levels in Calgary continue to be among the better in Canada.

Summer sales have remained strong in Calgary as seller's market conditions persist and push up prices.

Residential sales within city limits totaled 2,196 units, representing a 27.5 per cent increase over 2012 and 8.8 per cent on a year-to-date basis. The level of transactions was well above long-term trends for the

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Strong sales growth in July

Tight market conditions support upward price trend

Calgary, Aug. 1, 2013 – City of Calgary residential sales totaled 2,268 units in July, a 17 per cent increase over the previous year and up more than six per cent so far this year.

The flood that devastated the Calgary area on June 20 likely contributed to pulling forward sales activity. Some of this activity is related to the displaced renters and owners seeking other accommodation. But those consumers already searching for a home may have sped up their purchase decision, in response to concerns regarding the impact tight supply levels would have on prices.

The Calgary resale market is firmly in sellers' territory, supporting price growth. While citywide prices are nearly

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Re/Max, CREB Certified Condominium Specialist