Challenging economic conditions continue to impact the resale market

City of Calgary, December 3, 2018 –

Sitting below long-term averages, November sales in the city totaled 1,171 units.

For the year so far, sales activity has totaled 15,349 units, a 14 per cent decline over last year and nearly 20 per cent below long-term averages.

“Recent challenges in the energy sector have weighed on consumer confidence over the past month. Combined with weakness in the employment market and further gains in lending rates, this is impacting ownership demand,” said CREB® chief economist Ann-Marie Lurie.

New listings eased by seven per cent in November compared to last year. The adjustment in new listings has helped prevent further inventory gains, with 6,501 units in overall inventory, but levels remain well above the 5,683 units in inventory seen last year and 32 per cent higher than typical levels for November.

“Higher inventories and weaker sales are resulting in buyer’s market conditions and price declines,” said Lurie.

The citywide benchmark price was $422,600 in November, nearly one per cent lower than last month and over three per cent below last year’s levels.

Year-to-date sales have slowed across all price ranges, except product priced below $200,000, which now represents nearly six per cent of all sales. The largest decline in sales has occurred in the $600,000 – $999,9999 range.

“In any market, affordable product is always desirable,” said CREB® president Tom Westcott.

“For buyers, it may mean being able to step into a home that was previously unattainable. It also means that sellers need to be keenly aware what is successfully selling in their neighbourhood and surrounding communities.”

 

HOUSING MARKET FACTS

Detached
  • Detached sales declined across all districts in November. With citywide sales of 679 units, activity remains 21 per cent below typical levels for the month.
  • New listings eased by three per cent compared to last year, due to declines mostly in the North East, North and South East districts. Year-to-date new listings this year have increased in all areas except the North East and East districts.
  • Inventories in the detached sector totaled 3,491 units, 26 per cent higher than last year’s levels. Months of supply sits at five months, well above the three-month typical for November.
  • Detached benchmark prices totaled $486,000 in November, a one per cent decline over last month and a three per cent decline over last year. This is nearly seven per cent below monthly highs recorded in October 2014.
  • Prices have eased across all districts in November. On a year-to-date basis, the largest declines this year have occurred in the North East and North districts. This is likely due to the increased competition from the new-home sector. The districts that remain furthest from price recovery are the North West and South districts.
Apartment
  • Despite year-over-year gains in sales in November, citywide apartment sales have totaled 2,557 units so far this year. This is five per cent lower than last year and 21 per cent below long-term averages.
  • The majority of activity in condos is located within the city centre, representing nearly 48 per cent of all the sales activity.
  • Following years of oversupply, the number of new listings in the apartment sector continues to ease, helping prevent further significant gains in inventories and even contributing to inventory reductions in the South, East and North East districts.
  • Despite some adjustments in inventories, most areas continue to struggle with oversupply, causing further price declines. Price declines this year have ranged from a high of nearly six per cent in the East district to a low of two per cent in both the City Centre and North West districts.
Attached
  • Year-to-date attached sales totaled 3,344 units, a 16 per cent decline over the previous year and 14 per cent below long-term averages. Sales activity eased across most districts except for the North East, where sales remained relatively stable because of improvements in row activity.
  • Overall, rising new listings continue to place upward pressure on inventory levels and the gains have mostly occurred with semi-detached product.
  • Oversupply conditions have weighed on prices. In November, the semi-detached benchmark price totaled $400,700. This is a monthly and year-over year decline of 0.67 and 3.3 per cent, respectively. Recent price declines have caused this sector to erase any of the gains that occurred last year, as year-to-date prices remain comparable to 2017 levels.
  • Row prices have also been edging down, but at a slower pace than semi-detached product. As of November, row prices were $292,900, a 0.2 per cent decline from last month and just over three per cent below last year’s levels. Overall, year-to-date prices remain nearly two per cent below last year’s levels and nearly 10 per cent below previous highs.
Cochrane

JUST LISTED : 28 Glenpatrick Crescent Cochrane

Grab a cone of famous MacKay’s ice cream in Cochrane and then come see this perfect starter home…it even has a mountain view!

 

Warm and inviting, this 3-bedroom duplex is situated on a large pie lot that is entirely fenced. The main floor living room is double the usual size, with a stone-faced corner fireplace and access to the front deck for an evening drink while enjoying those views. Laminate flooring flows through the main floor to a cute white and bright kitchen with pantry storage, the 2pc bathroom and a dining room that opens to the backyard. Upstairs hosts three good sized bedrooms. The master bedroom has a walk-in closet and a cheater door to the main 4pc bathroom, which was recently remodeled. The basement level now homes the laundry, the utility room and a spacious rec room/office.

Cochrane Cochrane

At this price, can you believe that you can have your own double underdrive garage? The yard is a dream for anyone with a green thumb to grow their own veggies or just wants to escape to a private oasis. Escape to Cochrane today!

For more information click here 
Virtual Tour here
Country Hills

JUST LISTED : 108, 26 Country Hills View NW

Affordable stylish living in a cleverly designed, functional condominium in Country Hills! This property is well-planned, perfect for home buyers seeking a maintenance-free lifestyle. This two bedroom and two bathroom property has been designed for entertaining with its large square footage. It also provides you the livability option of having a roommate. There are all the high-end finishings that you would expect in this condo: including a well appointed kitchen featuring stainless steel appliances; new modern laminate flooring; master en-suite with a walk-through closet and a cozy corner gas fireplace. This home has a comfortable yet contemporary ambiance ideal for those seeking versatility to make the space their own.

Country Hills  Country Hills

Sun bathes the entire home with huge south and west facing windows. There is an abundance of storage both in-suite and in a secure enclosed area situated off the large patio. This unit features a unique elevated patio that is adjacent to the living room. Includes one underground heated titled parking.

This is a well-built and well-managed condo. Low condo fees include everything except electricity. This condominium complex is expertly planned to be rich in character, with thoughtful layouts and livability. Located in the community of Country Hills which has charm, character and continues to flourish and grow. It is the perfect location when it comes to convenience and accessibility with all essential amenities nearby. The perfect retreat from your busy lifestyle, away from the hustle and bustle of everyday. Welcome Home.

  

For more information click here
Beltline

JUST LISTED : #208, 1014 14 AVE SW

You don’t have to sacrifice size to experience the best of inner city living! Don’t miss this opportunity to own a fabulous 2 storey townhouse located on a quiet tree-lined street in the heart of the Beltline

This spacious, upper level unit is ideally configured for roommates or a professional couple looking to experience the downtown lifestyle.

Beltline Townhouse Beltline Townhouse

The main floor has an updated kitchen featuring stainless steel appliances, trendy tile backsplash, hands-free faucet and quartz countertops. The upgrades don’t end there, new flooring throughout, renovated bathrooms and a fancy washer/dryer. There are four large south facing windows that let in tons of light during the day.  Evenings will be enjoyed  in front of the fire place. Talk about cozy and yet perfect for entertaining. 

Beltline Townhouse Beltline Townhouse

The top floor features 2 spacious bedrooms and 2 full bathrooms. The master suite has 2 closets and a 4-pc ensuite. Did I mention the body spray shower head?

Beltline Townhouse Beltline Townhouse

The main floor back door leads to a lovely patio and only steps to your indoor garage parking. Walking distance to everything on 17th Avenue!

Visit Live Love Calgary For More Details On This Beltline Townhouse

For the virtual tour click here

Walden Wows Buyers

With so many new communities in South Calgary, it can be hard to decide which one to choose for your family. Developing communities offer newer houses but often lack amenities. And of course, new usually means you have to deal with the dirt of dust of construction. Until now.

Welcome to Walden.

The Genstar community of Walden is located in the city’s southeast and is the perfect blend of modern meets nature. The family-centric neighborhood has been building since 2007 and is nearing completion — meaning your family can enjoy the perks of a newer community without any of the inconveniences. While you can still select a builder and buy a lot, pick a floorplan, and wait nine months to build a house, there is also a select inventory of fabulous existing properties.

Buying an existing home can be a great choice for the young family. These homes are often only a few years old but come with fully landscaped yards — perfect for enjoying backyard barbecues and relaxing after a long day at work.

Walden also features five finished playgrounds and a stretch of walking and biking pathways leading right into Fish Creek Park. This community was designed with its natural legacy in mind, and it shows. Picturesque preserved trees line the walkways and ponds. Unique, modern architecture balances beautifully with natural surroundings.

This community boasts a small-town feel — something to be valued in our ever-growing city. It’s peaceful and friendly but also offers the convenience of walk-able amenities. The neighborhood features a Save-On Foods, Starbucks, Tim Hortons, Shoppers Drug Mart, dentist, doctor, spa, children’s play place, and even a local pub with a fantastic rooftop patio.

These amenities are only the beginning. Walden is one of few communities with easy access to Stoney Trail, Deerfoot and Macleod Trail. Its central location makes Walden an easy choice for commuters.

Relax in your stunning, modern home while your children play safely in your own backyard. Watch the neighborhood kids bike to the local store, stroll the pathways to Fish Creek, teach your child to climb the monkey bars while the wind plays through the trees. It’s all waiting for you in Walden.

Featured Property:

23 WALDEN GR SE

MLS# C4201878

Offered at only $479,900

 

 

 

This immaculate family home sits on a fantastic corner lot on a very private cul-de-sac. Full of upgrades, this home features nine-foot ceilings, upgraded appliance package, granite countertops, engineered hardwood, upgraded sinks and fixtures, triple pane windows, gas line to barbecue, and is Certified Built Green. A large foyer welcomes you and leads to the spacious family room with a modern fireplace, dining area, and chef’s kitchen with stainless steel appliances and a walk-in pantry. The second level boasts a stunning master suite with a walk-in closet and luxurious ensuite, two more bedrooms with walk-in closets, and a huge bonus room with space for a playroom and an office! A custom-built deck overlooks a landscaped and irrigated southwest backyard. Why live with the dust of a tiny plot of dirt when you can move in and enjoy this rare oversized retreat! Parks and pathway systems frame this incredible lot and a school site and major amenities are within walking distance. Property is listed by CIR Realty.

For more information click here. Or check out the virtual tour!

Don’t miss your chance! Call me to see it today!

 

Varsity townhouse

JUST LISTED : #45, 3519 49 ST NW

Location! Location! Location! Immaculate and beautifully renovated multi-level, 875 sqft, 2-bed townhouse in Varsity.

This home features an open living space with bright windows, a warm colour palette & gleaming new floors. The open dining area leads to a private sunny balcony with personal access to the courtyard! The kitchen offers an attractive newer white kitchen with updated glass mosaic tiles. The main floor also has a spacious family room with large windows providing an abundance of natural sunlight.

The lower level offers a large master bedroom with walk-in-closet plus another good-sized bedroom, with big windows. There is also a huge 4-pc bathroom, that is white and bright. This property is complete with in-suite laundry, a large storage room, plus an assigned parking stall close to the entrance.

Condominium amenities include a sauna/fitness room. And condo fees include heat and water/sewer. Perfect for first time buyers and a fantastic opportunity to get into the real estate market, don’t miss out!

For more information check out the virtual tour here

  

  

JUST LISTED : 1204, 2200 Woodview Drive SW

Welcome Home to 1204, 2200 Woodview Drive SW, Calgary!

Quartz Counter tops. Check! Brand new kitchen. Check! Brand new GE Stainless Steel Appliances. Check! Trendy vinyl plank floor. Check! In-suite new laundry. Check! Low condo fees. Check! This place checks all your boxes, and for under $250,000? WOW!

This fully remodeled single-level townhouse is perfect for first time home buyers or the savvy investor. Open the front door and fall in love with the warm and welcoming feel of this home. The open concept living room is beautifully lit with natural light, and the kitchen is a showstopper. White shaker style cabinets, large subway tiles and under mount sink.

The bathroom has faux marble tile surrounding the deep tub and plenty of storage in the vanity.

The master bedroom is huge with a walk-in closet, motion-sensor light and custom built-ins. The 2nd bedroom also has a generous closet with built-ins!

Storage not a problem here, with a pantry and extra space in the furnace room. Did I mention a newer furnace/hot water tank? You’ll be the envy of your friends!

View the virtual tour here

For more information visit here

   

Glamis Green Townhouse Glamorgan

JUST LISTED : #275, 77 Glamis Green SW

This two-bedroom executive townhome in Glamis Green has an open and modern floorplan offering over 1,000 sq.ft. of living space. Perfect for first time home buyers with discerning taste as it features high-end finishes throughout!

The main level features a large master bedroom, a generous sized second bedroom and a 4 piece bathroom. This floor also features in-suite laundry, with shelving and loads of storage space.

The wide open upper floor is warm and welcoming. Showcasing an elegant kitchen with granite counter tops and a raised breakfast bar. The great room layout is beautifully designed with considerable space for both dining and living. It even boasts a gas fireplace for cozy evenings in curled up with a book. There is also a powder room for your guests.

The windows and patio entrance deliver an abundance of natural light. Being on the top floor allows for your own private patio with a private feeling, perfect for bbq-ing in the summer.

If you are looking for a home that is a quick commute to downtown (only 8kms)? And do you delight in being surrounded by almost every amenity you can think of? Than look no further….Glamis Green is for you! Welcome Home.

For more details click here.

For the virtual tour click here.

Glamis Green Glamorgan   Glamis Green Glamorgan

Glamis Green Glamorgan    Glamis Green Glamorgan

 

About Glamorgan:
Glamorgan is located in SW Calgary, only 8kms from downtown Calgary.  Glamorgan is close to several shopping malls and contains a number of restaurants. There are both public and separate schools in the area. Glamorgan Community Centre offers before and after school care in a comfortable setting, complete with homework tables and computer stations. There is an outdoor ice rink for community shinny games as well as an adjoining pleasure rink. There are a variety of activities such as yoga, Guides, Adult Fitness classes and Karate. The community also offers outdoor soccer, family softball as well as other recreational sports. GCA has a new building situated next to the outdoor rink, called GlamShack and it is the central meeting spot for Grassroots Hockey and Soccer.

JUST LISTED : 88 Prominence View SW

This bright & well-kept San Francisco-style end unit town house with double turrets is located in the beautiful community of Patterson. This home is surrounded and backing on to a green belt, it is uniquely situated in the Capilano Gardens condominium complex. The features include a tiled foyer with mirrored entry closet, gorgeous cherry oak built-ins and cabinetry. There is rich oak flooring throughout the main floor and neutral carpeting upstairs. There is a desirable large south-facing deck that has an expansive and private view. It allows for a wonderful summer retreat for BBQing or hosting friends and family.

This two-storey townhouse offers a grade-level foyer with access to double tandem attached garage. The kitchen includes a wall pantry and island, turret-style breakfast nook with a magnificent view. Don’t forget about the 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 in-suite laundry.

The upper floor has open hall plan with built-in cabinetry and a den with more large windows. The spacious master bedroom retreat features a mirrored by-pass doors into a semi walk-in closet. There is also an ample second bedroom. And a large 5-piece bathroom with a corner jetted tub.

This is one of the most sought after locations and town house in the area. Be sure to call your favourite REALTOR for a tour today.

For more information click here.

For the virtual tour click here.

Patterson 88 Prominence View SW Townhouse   Patterson 88 Prominence View SW Townhouse

Patterson 88 Prominence View SW Townhouse   Patterson 88 Prominence View SW Townhouse

 

About Coach Hill Patterson Heights:

Coach Hill Patterson Heights is a well established community in the city of Calgary. It is located in close proximity to downtown, Canada’ Olympic Park and one of the most geographically unique areas of the city.  Whether it is the rolling hills, bubbling waterfalls, sloped ravines, or natural fauna – this community is beautiful. There are also interesting bike paths and friendly people that make Coach Hill Patterson Heights their home, our community has a lot to be thankful for.

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.