JUST LISTED : 88 Patina Point SW

Absolutely delightful breakfast nook encircled in bay windows? This is not your average condo! This unit meets everyone’s needs with two enormous bedrooms and two and a half bathrooms. The master ensuite bathroom features an incredible steam shower! The unique aesthetic choices like the clean white walls throughout and the driftwood-stained hardwood in the living and dining area up the style and polish for a truly unique, contemporary atmosphere. Enjoy all the modern comforts in this home; a Sub Zero fridge, Jenn-Air built-in self-cleaning oven, stone-faced gas fireplace, double tandem garage, and more than necessary storage. Relax in the sun on your two decks with mature landscaping and incredible unobstructed views. This unit’s architecture is rare and exceptional– just like you! A few minutes from public transit and a short ride to the mountains – discover your new home and the desirability of Patterson.

Check out the virtual tour! And for more details click here.

Mid-Year market update shows stability

CREB® forecasts a process of recovery for the remainder of 2017

The first-half of 2017 marked a shift in Alberta’s economy from recession to recovery, with conditions supporting stability rather than expansion.

“Economic challenges continue to exist, as high unemployment rates, weak migration levels and more stringent lending conditions are weighing on the housing market,” said CREB® chief economist Ann-Marie Lurie.

“This will continue to cause some adjustments in the housing market for the remainder of this year. However, this is not expected to offset earlier gains supporting general stability in 2017.”

Resale sales activity is expected to total 18,401 units in 2017, a 3.3 per cent improvement over last year. The pace of growth is slightly faster than originally anticipated, due to the stronger growth that occurred in the first half of the year.

“We saw many of those consumers who delayed any purchasing decisions willing to re-enter the market as concerns regarding the economy eased,” said CREB® president David P. Brown.

“More potential buyers on the market helped move some of the product in inventory and started to create some price stability.”

Improvements in the supply demand balance, primarily in the detached and attached sector, caused prices to start to trend up. Demand growth through the remainder of the year is expected to ease relative to inventory levels. This should prevent further substantial shifts in pricing. Overall, annual city wide prices are expected to remain at levels comparable to last year.

Despite generally improving trends, difficulties continue to exist in the condo-apartment ownership market. Rising sales cannot keep pace with the growth in new listings, keeping supply levels high and placing continued downward pressure on prices. This area of the housing market will likely continue to face challenges well into next year, as it will take time to absorb additional inventory in the resale, new and rental markets.

“Improvements in the labour market are supporting the shift in the housing market this year. However, activity over the past two years was amongst the weakest we have seen since the financial crisis,” said Lurie.

“While the shift is welcome news for many, we continue to expect that process of recovery will be slow and dependent on the property type and location within the market.”

For more information, please give me a call!

Housing recovery remains a work-in-progress

Market sees modest inventory gains, but overall prices inch up

Sales exhibited stable growth through the first half of the year in the Calgary housing market, but the number of transactions slowed slightly in July compared to last year.

City-wide sales totaled 1,637 units, six per cent below July 2016 levels. Year-to-date sales activity totaled 11,957 units, nine per cent above last year.

“Sales growth exceeded expectations so far this year. Clients were re-entering the market after delaying decisions until there were some signs of economic improvement,” said CREB®president David P. Brown.

“However, this recovery will require patience. There continues to be many new and resale ownership options available. This reduces the sense of the urgency for many consumers.”

Easing sales were met with higher new listings, causing further gains in inventory levels. City-wide months of supply rose to four months, as inventory levels reached 6,675 units this month. This is 17 per cent higher than last year, but still below July highs recorded in 2008.

“Modest improvements in the labour market and net migration were necessary to support the turnaround in the housing market,” said CREB® chief economist Ann-Marie Lurie.

“However, current inventory levels and changes in the lending market continue to weigh on housing demand.  Easing demand growth combined with elevated levels of supply will slow the pace of price recovery in our market.”

Driven by detached and attached housing sales, city-wide prices in July improved over the previous month and the previous year. However, it is nearly four per cent below previous monthly highs. Year-to-date benchmark averages remain 0.44 per cent below last year’s levels.

Despite the current month activity, the detached sector continues to demonstrate conditions that are more balanced compared to last year.

Apartment condominium product continues to face oversupply in the resale and new home sector, causing further price declines. In July, the apartment benchmark price was $266,200. This is a three per cent decline over last year and nearly 12 per cent below peak prices.

For a full analysis of the Calgary housing market in 2017, please refer to CREB®‘s 2017 mid-year update to be released in mid-August.

JUST LISTED : 212, 30 ROYAL OAK PLAZA NW

This layout! Welcome to the vibrant community of Royal Oak, where your extraordinary double-master suite awaits. This two-bedroom is uniquely arranged to offer privacy and amenities to two parties, while offering a central living/dining area for entertaining in style, and hanging out in comfort. The elegant dark maple kitchen features Boshe/LG stainless steel appliances, and the under cabinet lighting complements the glassy black granite counter finish. A full ensuite on one side and a 4-pc bath on the other are both accessed through spacious, walk-through closets. The in-suite laundry sits discreet just beside the kitchen/foyer. Along with access to the building’s built in gym and party room, you get an oversize titled parking stall in the heated underground parkade, titled storage locker, and underground bike storage area. Stroll across the way to find a plaza with ample shopping opportunities, quickly arrive at the LRT and be the first to enjoy the Rocky Ridge Recreation Facility opening in 2018!

For more information click here

 

 

 

June spells a gradual recovery

Stable prices in detached sector signal balanced conditions despite increased inventory

Calgary’s housing market in June saw a modest improvement in sales along with an increase in new listings.

However, demand gains have not kept pace with the amount of new listings coming onto the market. This caused inventory levels to increase to 6,659 units, which is 11 per cent higher than last year’s levels.

Despite the recent shift in inventory this month, second quarter activity continues to demonstrate improved supply-demand balance and price stability. City wide benchmark prices totaled $441,500 in June. This is a 0.5 per cent gain over last month and nearly one per cent higher than last year.

“The supply gain this month will be monitored. However, on a quarterly basis, inventory levels remain comparable to last year, sales have improved and there have been modest price gains. All of this remains consistent with expectations of a gradual recovery,” said CREB® chief economist Ann-Marie Lurie.

Year-to-date residential sales in Calgary totaled 10,322 units, which is 12 per cent above last year’s levels. New listings increased by three per cent over the same time period.

Overall, both the sales-to-new listings ratio and months of supply have trended down this year. This signals more stable pricing in the housing market this year.

“While there were many buyers waiting for lower prices to step into the housing market, there were also many sellers waiting until prices stabilized before listing their home,” said CREB® president David P. Brown.

“Some of this recent growth in listings will help provide more choice, particularly in the detached market where market conditions had significantly tightened over the past few months.”

Detached inventories and sales totaled 3,224 and 1,385 units, for a month of supply of 2.3 in June. Despite the recent rise in supply, over the first half of this year inventories have averaged 16 per cent below last year’s levels while sales are 13 per cent higher, keeping this segment in more balanced conditions.

While activity is also improving in the attached segment of the market, resale activity in the ownership of apartment-style product continues to face challenges with weak sales relative to listings and rising months of supply.

As of June, the unadjusted benchmark price for an apartment style product totaled $265,800. This is nearly four per cent below last year’s levels and 11 per cent below recent highs.

FOR BUYERS : Summer is Calling!

Summer is such a great season for so many reasons. And nowadays it’s upstaging spring as the season to buy a home. Here are the top three reasons as to why you should focus on looking for that new home sooner rather than later on in the year! As an Accredited Buyer’s Representative (ABR®), I am an all-weather agent and am here to help you with all of your home buying needs, whatever they may be. I look forward to working with you!

FOR BUYERS : There is a First Time for Everything!

This couple’s success story is a great example: setting a budget and having a reasonable set of wants and needs when you’re ready to buy your first home is a great start. However, it’s also important to work with a REALTOR®. As a REALTOR®, I am also an Accredited Buyer’s Representative (ABR®), which means that I have the the training and the expertise that enables me to serve as your advocate in the home buying process. I look forward to working with you!

Housing market retains momentum in April

City-wide prices hold steady as labour market improves

Calgary’s housing market continued to show signs of stability in April. With improvements in the labour market and a balanced detached sector, city-wide benchmark prices reached $439,600 in April, similar to the previous month, but 0.90 per cent below last year’s levels.

“More jobs means less uncertainty for people who are sitting on the fence,” said CREB® president David P. Brown. “There also tends to be fewer people who need to sell when employment improves, and that can prevent inventory gains and further price reductions in the market. It’s a good scenario for sellers who are entering a spring market that’s in better shape than anything we’ve seen in recent years.”

While adjustments are still occurring in the apartment condominium sector, the detached segment of the market is improving across all price segments.

“Detached product has not faced the same supply pressure as the apartment sector,” said CREB® chief economist Ann-Marie Lurie. “Detached supply from new construction didn’t surpass previous highs. That helped prevent steeper price adjustments in the detached sector when demand eased.”

The relationship between sales and inventory will be a key driver for pricing in the months ahead. Total transactions improved to 1,917 units in April, while inventories totaled 5,495 units, pushing months of supply below three for the second consecutive month.

With sales up and overall market inventory down, months of supply has already pulled back from elevated levels recorded over the past two years. While activity continues to vary by location and product type, more balanced conditions will help to support overall price stability.

“Improvements in the employment situation were necessary to prevent further declines in the housing sector,” said Lurie. “However, economic recovery is still expected to be slow, impacting the pace and quality of job growth. Based on current expectations this should translate into a more prolonged period of recovery in the housing market.”

Give me a shout  if you want to know the specifics about your property or neighbourhood!

FOR BUYERS : The Ultimate Guide to Choosing a New Neighbourhood

Choosing a new neighborhood can be a stressful time, with a seemingly endless list of things to consider. Budget and safety and schools, oh my! Weighing every option is enough to make your head spin. I am familiar with the area, and as an Accredited Buyer’s Representative (ABR®), can offer a helpful perspective. Please let me know if you have any questions!

Click here for the details.

 

JUST LISTED : 114 Covehaven Court NE

In the respected Covehaven section of Coventry Hills, family living has never been more comfortable. A stunning vaulted entry leads to an open plan living/kitchen/dining, perfect for entertaining or hanging out with family. Kitchen aesthetics have been newly updated to suit the modern palette, and an attractive half-bath sits conveniently right around the corner. Completing this level is a bonus front room perfect for media, hobbies or a home office.

Upstairs is made for relaxation with three bedrooms and two more bathrooms, featuring an enormous master with 4pc ensuite. More unique charm includes: a gas fire place in the living room, a large fenced yard with storage and space for 4 (!) cars, and a private backyard play structure that can only be described as awesome.

Add close proximity to exciting amenities like theatres, shopping, restaurants, the VIVO Rec Center and a short drive to the airport, and you’re sure to please everyone under your roof.

For more information click here

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