JUST LISTED : 88 Prominence View SW

Bright & well-kept San Francisco-style end unit townhome with double turrets. Surrounded and backing on to a green belt, uniquely situated in Capilano Gardens. Features include a tiled foyer with mirrored entry closet, cherry oak built-ins & cabinetry, rich oak flooring, neutral carpeting & a large south-facing deck with an expansive and very private view.

This two-storey townhouse offers grade-level foyer with access to double tandem garage. The kitchen includes a wall pantry & island, turret-style breakfast nook with a magnificent view, granite countertops and stainless-steel appliances. The open concept living/dining room has a marble-faced gas fireplace and built in bookcases. The main floor also has a 1/2 bath and laundry.

The upper floor has open hall plan with built-in cabinetry, den with large windows, spacious master bedroom retreat with mirrored by-pass doors into a semi walk-in closet, ample 2nd bedroom, plus large 5-piece bath with corner jetted tub.

For more information click here.

For the virtual tour click here.

  

  

Status quo for Calgary’s housing market

Prices remain similar to last year, but ease in October

October’s housing market conditions closely echoed previous month’s trends with easing sales, rising inventories and downward price pressure. Like last month, the monthly activity was not enough to derail gains that occurred earlier in the year.

October sales and inventories totaled 1,467 and 6,463 units for a month of supply of 4.4. Several months of elevated supply in comparison to demand has weighed on pricing over the past several months. The city-wide unadjusted benchmark price in October totaled $438,900, 0.6 per cent below last month, but comparable to last year.

“While economic activity has improved in 2017, it will take some time for this to translate into housing market growth. There have been employment gains, but most of this has occurred in areas with traditionally lower income,” said CREB® chief economist Ann-Marie Lurie.

“We also continue to face weak migration, higher lending rates and changes to lending policy. The combination of these factors is impacting housing demand, which is prolonging the pace of recovery.”

Resale inventory gains occurred in each product type and across most districts in the city. The largest gains were in districts with substantial new development growth.

In the detached segment, the largest number of units added to inventory occurred in the $300,000 – $500,000 price range. This represents nearly 42 per cent of all detached inventory. 62 per cent of the inventory in the city-wide market is priced below $500,000.

“There is far more product availability in the lower price ranges now compared to several years ago,” said CREB® president David P. Brown.

“This provides more options for potential buyers concerned about their purchasing power given all the changes in the lending market.”

The largest monthly price change occurred in the apartment condominium sector which recorded an unadjusted monthly decline of 0.8 per cent, resulting in a 13 per cent spread over monthly highs recorded in 2014.

Despite some recent adjustments, prices in the attached and detached segments remain relatively stable compared to last year.

The BIG Picture

Inventory increases and sales drop in September, but overall sales for the year remain higher than last year.

Strong gains in the first-half of 2017 has put the Calgary year-to-date sales at seven per cent above last years’ levels and 11 per cent below long-term averages, but challenges remain with easing sales and rising new listings.

Inventories rose across all property types to 6,861 units, while both apartment and attached-style properties saw the highest inventory on record for the month of September.

“The recent rise in inventories is preventing further price recovery as sales activity has moderated over recent months. This does not come as a surprise as sales activity is expected to remain modest by historical standards until more substantial economic improvements take hold,” said CREB® chief economist Ann-Marie Lurie.

“Some may consider this a setback, but it is important to note that recent movements are balancing out the higher than expected gains that occurred in the first-half of the year.”

New listings in September totaled 3,266 units, a year-over-year gain of nearly 10 per cent.

“There are several factors influencing new listings. Given the falling prices over the past two years, some sellers were waiting for market conditions to improve prior to listing their homes. More stability in the market has prompted many of those sellers to no longer delay their listing decision,” said CREB® president David P. Brown.

“In some segments, rising new home inventories are also impacting total housing supply. Ultimately, prices are affected. However, this inventory also opens up opportunity for buyers to step up into a home that was financially unattainable.”

As of September, unadjusted benchmark prices totaled $441,500. This is 0.2 per cent below last month, but nearly one per cent above last year. Downward price pressure this month occurred across most product types. However, year-to-date benchmark prices in the detached sector remain comparable to last year.

Prices in the detached sector remain relatively stable compared to last year. Condominium apartment prices remain four per cent below 2016 levels and twelve per cent below 2014 highs. This sector continues to struggle with price declines resulting from excess supply as months of supply pushed above eight months.

JUST LISTED : 167 Douglas Woods Hill SE

Welcome to this show stopping family home in sought after Douglasdale.

This open concept home has been recently updated for a polished, modern look. You’ll be impressed as soon as you step inside this gorgeous home. It features hardwood floors, a spacious living & dining room, main floor laundry & a discrete half bathroom. The home opens up into a family room with huge windows and a corner fireplace. Once in the kitchen your eyes are drawn to the details which includes high end cabinets, stainless steel appliances & shining granite countertops.

Upstairs is your extra large dream master suite – a large 4 pc ensuite with corner jacuzzi tub & a walk in closet. There are 2 additional bedrooms & a kids/guest bath up.

The fully finished lower level is ideal for family entertainment. Space includes a supersized recreation room, built in office space, a 4th bedroom & storage space!

The backyard is enormous, did we mention there’s a POOL? The property is well manicured with a large multi-tiered deck. Welcome Home.

For more details click here!

Check out the virtual tour here.

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 discreetly 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 details click here!

For a virtual tour click here.

JUST LISTED : 409, 59 22 Avenue SW

Discover contemporary condo living in River Grande Estates, and relax into convenience, amenities, and distinct downtown lifestyle.

Two bedrooms and two bathrooms offer everyone comfort and privacy, while 9-foot ceilings, new flooring throughout and attractive, brand new stainless steel kitchen appliances are sure to impress your guests. A huge walk-in closet and a 5-pc ensuite off the master will make you never want to leave home.

There is assigned storage, in-suite laundry and underground parking! No where compares to Mission for restaurants, shopping, transit and fitness opportunities; your lifestyle is about to experience an upgrade. Additional features include underground visitor parking, a car wash, a library and an entertainment room.

What else do you really need!? See it today!

For more details click here!

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.

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!

JUST LISTED : 1313 Lake Fraser Court SE

This one bedroom bungalow style condo is sure to impress! Step in and be greeted with the abundance of natural light and a gorgeous fireplace. The open floor plan living and dining room is spacious and bright. You can easily see all the upgrades in your new home!

The kitchen features warm honey brown shaker-style maple cabinets and plenty of smart storage space. The upgraded granite is almost a piece of artwork with it’s natural beauty and durability. All the appliances are included, even a new garburator.

The master bedroom is a very large space with room for dressers, an armchair and even more. All that space and a dramatic, full-mirrored walk-through closet that brings a touch of elegance and luxury to the master retreat. Your private 4-piece bathroom has a linen closet and lots of additional storage.

Both bathrooms feature contemporary design optimized for style and functionality, and a full stacking washer-dryer set is tucked neatly into powder room.

There is a good sized covered balcony that overlooks a quiet green space and is very private for your barbecuing and summer enjoyment. Also included is a titled parking spot and an assigned separate storage unit.

The entire condo was recently painted a neutral, colour palette which means that it is move-in-ready yet adding personality is easy and fun. Lots of upgrades were added when this condo was purchased and the original owner has maintained this unit with pride.

Bonavista Estates is well known for it’s wide range of amenities, including a theatre room, party room, exercise room, dining space for large functions and even a car wash bay.

Well managed, convenient location and all the comforts come standard at the highly sought-after Bonavista Estates; get all that and more in this unique, attractive, move-in-ready condo.

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For more information click here!

January market improves over last year!

For the fourth consecutive month, housing inventory levels have recorded year-over-year declines. At 4,112 total units, January’s inventory was 18 per cent below last year’s levels.

“While housing conditions continue to favour buyers, a slow transition toward more balanced conditions is helping to ease downward pressure on home prices,” said CREB® chief economist Ann-Marie Lurie. “Conditions have improved over last year, but people need to remember that last year’s market was one of the weakest on record. Despite the appearance of a major shift in activity, the transition in the housing market is going to be a slow process.”

January sales totaled 947 units, 24 per cent above last year, but 21 per cent below 10-year averages for the month. Sales activity improved across all product types, but only when compared to the near record lows that occurred in January 2016.

The detached segment of the market is demonstrating the most improvement. Sales activity totalled 584 units in January, a considerable improvement over the 466 sales recorded last year. Inventories have also declined pushing the months of supply to 3.2 months well below the 5.4 months recorded in January 2016.

“This past month showed how the market never stands still,” said CREB® president David P. Brown. “The market isn’t expected to be as unpredictable in 2017, but it’s early in the year and there are still lots of unknowns that will shape decision-making for consumers.”

“Every transaction is a personal decision and anyone going through the process of buying and selling real estate will be trying to make the best decision for their family. They need to consider their long-term objectives and think about the price they are willing to accept or pay for a home.”

City-wide benchmark prices totaled $437,400, 0.16 per cent lower than last month and 2.82 per cent lower than last year’s levels. Since recent highs in 2014, residential prices have declined from a low of 4.9 per cent in the detached sector to highs of 11.5 per cent in the apartment condominium market.

Feel free to give me a call to get the full City of Calgary monthly stats package.