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FREE apr 12 to apr 18 2013 issue 03-14 www.crebnow.com facebook.com/crebnow twitter.com/crebnow
real estate news from industry experts
Surrounding Sales Steady
Declining singlefamily market supply in Calgary supporting growth in outlying communities kelsey hipkin
Reporter/Photographer
A
s Calgary is starting to see a tightening trend in the real estate market, some buyers are turning their attentions to surrounding areas for a place to call home. While activity varied by area, overall property sales in the communities of Cochrane, Airdrie and Okotoks totaled 865 units in the first quarter of the year, similar to numbers seen from the same time in 2012. “Relatively strong demand has reduced the amount of time properties are on the market,” said Becky Walters, CREB® president. “However, overall inventory levels remain healthy, contributing to balanced conditions for buyers and sellers.” Okotoks reported 18 per cent growth in sales activity compared to the first quarter of 2012. While sales activity for Cochrane slowed in March, strong activity in the first two months of the year resulted in sales growth exceeding six per cent. “The improvement in sales activity in Okotoks is due to inventory levels being slightly elevated, unlike some of the other surrounding areas,” said Ann-Marie Lurie, CREB®’s chief economist. “This provides consumers with choice even though there has been a 15 per cent decline in new listings. “If dwindling supplies for singlefamily homes persist within Calgary city limits, it should support growth in outer lying communities,” Lurie continued. “However, as resale listings fall, consumers may turn to new homes, and such a move could limit sales growth for resale products.”
TOWN & COUNTRY A3
With spring in the air, the City of Airdrie’s tighter market conditions could result in average home prices increasing. kelsey hipkin, Reporter/Photographer
SINGLE FAMILY
MLS® AVERAGE DAYS ON MARKET* MAR ‘11 – MAR ‘13
58
60
52 52 49 49 48
39
41 41
49
48
43 40
51
CREB® STAFF
47
36
37
MAR11 APR11 MAY11 JUN11 JUL11 AUG11 SEP11 OCT11 NOV11 DEC11 JAN12 FEB12 MAR12 APR12 MAY12 JUN12 JUL12 AUG12 SEP12 OCT12 NOV12 DEC12 JAN13 FEB13 MAR13
33
*All statistics based on monthly data compiled by CREB® via MLS® activity.
espite a slowing economy, Albertans can still expect to have one of the strongest resale home markets in the country, along with one of the healthiest job markets. In a report released by TD Economics, Alberta is expected to retain its status as Canada’s economic hotspot.
RESALE MARKET A3
$11,040,000
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A14
ROYAL LEPAGE COMMERCIAL map open houses
A14 A16 B1 B23
Allan Berdahl
OUTSTANDING 460 aCres ADJACENT CALGARY SW
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Alberta contents resale market news briefs ‘likely’ to MARKET outperform mortgage rates
wchaulk@telus.net
Wayne Chaulk
B.Comm, Agent
(P) 403-225-5000 (F) 403-592-8977 www.chaulkrealestate.com
This land holding has iT all - mountain views, open fields, valleys, forest areas, creek, spring-fed engineered pond system, water rights, superb building sites, view ridges and trails. The north quarter borders reserve, has “golf course like” areas, 2 homes, 3 large outbuildings. Property has quick access to 22X. A tremendous estate, investment holding property or lands ideally suited to recreational development with real estate components. Not often does this quality and size of land holding become available so close to the city. MLS®C3541629