McKenzie Towne
Starts Up
Move over black
July sees 52 per cent increase
Orange is taking over the garden
CMHC A12
DONNA BALZER A19
a10 – A11
FREE sept 6 to sept 12 2013 issue 03-35 www.crebnow.com facebook.com/crebnow twitter.com/crebnow
real estate news from industry experts
An opportunity to upgrade Calgary’s housing market sees sales stay strong in August
Cody Stuart
managing editor
F
or a seller’s market, Calgary is certainly seeing it’s fair share of new buyers. Following a month that saw MLS® sales in the city increase by 17 per cent from the previous year, August saw 2,196 sales in the city, an increase of 27.5 per cent in comparison to the same month in 2012. While much of the improvement came in the higher end of the market — with records set for luxury home sales, highest median and average sale prices, there were also those entering the market for the first time. “I was encouraged by the current interest rates and heard they were going to increase soon so it was a good time to get into the market,” said firsttime homeowner Heather McCauley, who purchased in Citadel in August. Despite a month that saw yearover-year benchmark prices for single-family homes, condo apartment and condo townhome increase by 7.42, 8.81 and 7.30 per cent, respectively, McCauley said she wasn’t deterred in her decision. “The housing prices didn’t really affect my decision, mostly because it was a timing issue and I wanted to buy sooner rather than later. I have learned through the process that the market is tight right now, so was expecting to pay according to that trend.” Prior to purchasing her home, McCauley rented the top floor of a house for five years. The decision to buy rather than rent came in part as a result of increasing rental prices. “My landlord had slowly increased the rent over the past several years and it has gradually become more expensive than paying for (what) a mortgage would be – that was the initial driving factor to start to look at buying.”
Stats A3
Attracted by increasing availability and interest rates that have remained resilient, Heather McCauley purchased one of the 2,196 homes that changed hands in August. kelsey hipkin, Reporter/Photographer
SINGLE FAMILY
MLS® AVERAGE DAYS ON MARKET* AUG ‘11 – AUG ‘13
58
60
52 52 49 48
49
48 40
51
CREB® STAFF
47
T
43 42 43 41 38 37 36
37 37
37 34 31 31
AUG11 SEP11 OCT11 NOV11 DEC11 JAN12 FEB12 MAR12 APR12 MAY12 JUN12 JUL12 AUG12 SEP12 OCT12 NOV12 DEC12 JAN13 FEB13 MAR13 APR13 MAY13 JUN13 JUL13 AUG13
33
*All statistics based on monthly data compiled by CREB® via MLS® activity.
Sutton CanweSt Real eState
$586,500
#520 35 Inglewood PaRk Se
Adjacent to Park, 1227 sq. ft., 2 bedroom + den, 2 full bath, contemporary 5th floor condo with ss appliances, granite counters, gas fireplace, 9 ft. ceilings. Enjoy inner city living at its finest with concierge service. Gym, spa, health club, theater room and bistro. Just a short walk to all Inglewood’s shops & cafe’s. Titled parking. C3571049
Bank of contents Canada holds news briefs A3 overnight rate test your knowledge A6 at one per cent Calgary parks
Donna Williams 403-617-7749
$799,999
he Bank of Canada announced Sept. 4 it is maintaining its target for the overnight rate at one per cent, the same rate for the last three years. The Bank attributed the reasoning for maintaining the rate to a global economy that “continues to expand broadly as expected, but its dynamic has moderated”. Canada’s housing sector also came into play with the Bank’s decision.
Industry A3
Jewel Valley Luxurious Family Living
A12
MLS® STATISTICS
A14
Heritage
A15
Something old, something new
How to
A16
How to move
map
B1
open houses
B19
This two storey walkout is ideal for entertaining and perfect for luxurious family living. Features include numerous, furniture quality built-ins, dramatic chandeliers, custom mirrors in baths, limestone, granite & marble counters throughout, elegant curving staircase, rock trim around exterior windows & doors, stone feature wall in family room and striking custom window coverings to frame the lovely & expansive views. The main floor master bedroom with a 5 piece ensuite, walk-in closet, fireplace and serene sitting area is a true adult retreat. The four upper level bedrooms each have access to an ensuite & extensive storage/ closet space. Dual laundry rooms provide convenience. Dimmer switches throughout add ambiance. Heated floors in all bathrooms offer soothing comfort. This treed acreage includes a waterfall with remote control from house, aggregate pads, a courtyard, floodlights & extensive exterior lighting to impart a warm welcome to friends and family.
lake fRontage
Enjoy fabulous views from your living rm, kitchen & master bedroom balcony of Lake Midnapore in this amazing 3 bedroom, 2386 sq. ft. townhouse. Rarely do lake frontage properties come up in this complex. Marble flooring, gourmet kitchen, fully developed basement & double attached garage. Enjoy the tranquil living & the wildlife. Cottage country all year round. C3570888
mortgage rates
Kevin Shapkin Real Estate Mountain View
$1,499,000
MLS©C3572027
P 403-262-4150 W www.KevinShapkin.com