100 years and counting
wheatland county feature a12 – A13
Celebrating Calgary’s many centennials Heritage A15
FREE jul 27 to aug 2 2012 issue 02-29 www.crebnow.com facebook.com/crebnow twitter.com/crebnow
CALGARY
holding strong cody stuart, Managing Editor
Luxury report highlights differences in local housing market cody stuart
managing editor
A
new report on Calgary’s luxury offerings is providing additional support for the argument the city’s housing market is growing at a more steady and sustainable rate than other markets across the country.
Although multiple sources have singled out the housing markets in Toronto and Vancouver as proof of a greater Canada-wide trend, Calgary has yet to see the sort of rapid price fluctuations and sales declines evident in those cities. Released by Sotheby’s International Realty, the Top-Tier Real Estate Report examined the number of million
SINGLE FAMILY
dollar-plus residential properties sold from January to June 2011 and 2012 in Calgary, Vancouver, Toronto and Montreal. The report compares the sales volume, number of days on market, inventory of listings and percentage of homes sold over the asking price. According to the report, Calgary showed a 19 per cent increase in the million dollar-plus sales category in the first half of 2012 compared to the first half of 2011 (January to June). Along with increased sales volume, Calgary also saw a dramatic spike in the volume of properties listed in excess of $1 million. 2012 inventory in
MLS® AVERAGE DAYS ON MARKET* JUN ‘10 – JUN ‘12
59
58
56 50
52
50
45
52 52
52 49 49 48 45 39
41 41
48
43 40
38 37
36
JUN10 JUL10 AUG10 SEP10 OCT10 NOV10 DEC10 JAN11 FEB11 MAR11 APR11 MAY11 JUN11 JUL11 AUG11 SEP11 OCT11 NOV11 DEC11 JAN12 FEB12 MAR12 APR12 MAY12 JUN12
39
60
*All statistics based on monthly data compiled by CREB® via MLS® activity.
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$349,900
DonnA WilliAms 403-617-7749
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Calgary showed an increase of 92 per cent over the same timeframe last year, with listing numbers jumping from 474 homes listed for sale at $1 millionplus to 908 homes. “The improvement in the luxury home market is a reflection of the confidence in the long-term prospects in our city,” said CREB® economist Ann-Marie Lurie. “We have recorded significant employment growth in full time well paying positions, and with that there is a growing segment of consumers demand for luxury homes. The recent improvement in luxury home selection has provided these
consumers more choice, which has helped boost sales activity.” Compare Calgary’s figures to Vancouver’s luxury market where, despite an 11 per cent rise in million dollar-plus listings, sales in the category dropped by 35 per cent during the first half of 2011, falling from 1,996 to 1,291. According to the Canadian Real Estate Association (CREA) sales in Vancouver across all price ranges dropped by 28 per cent in June.
Luxury A3
Number of contents Calgarians on News briefs A3 EI continues test your knowledge A6 to drop mortgage rates A8 CREB® STAFF
Green Living
T
Eco-friendly homes
he number of Calgarians receiving regular Employment Insurance (EI) benefits dropped by more than a third between May 2011 and May 2012, according to the most recent numbers from Statistics Canada. As of May, 6,720 Calgarians were collecting EI regularily, a 34.2 per cent drop from the 10,220 EI beneficiaries in the same month of 2011.
Employment A3
Community
A12 A12
Keystone Hills development plan
Commercial
A14
map
B1
open houses
B22