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budget beauty
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Three steps to make a house a home
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Christian Twomey
DESIGN xx Ax A6
Condos feature
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a8 – A10
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Landan Real Estate
FREE apr 5 to apr 11 2013 issue 03-13
real estate news from industry experts
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Springing into aCtion
kelsey hipkin, Reporter/Photographer
As supply tightens, properties selling quickly Cody Stuart
managing editor
S
pring has brought some fresh air to the home resale market in Calgary. The inventory of active homes for sale in Calgary in March was the low-
est level for the month in more than five years. Homes are selling quickly, but the decline in new listings also hampered resale sales growth. There were five per cent fewer new listings in March compared to the same month in 2012; inventory is also five per cent lower after the first quarter. As a result, volume also dropped by more than two per cent last month compared to March 2012. Overall active listings stand at just 4,006 units, up from February’s levels but well below the number available one year ago. “Less resale product available to consumers is ultimately limiting sales
SINGLE FAMILY
growth,” said CREB® President Becky Walters. “In addition, resale homes are selling in less time and with continued upward pressure on prices.” Walters said buyers have grown accustomed to a market where they have more time to make decisions because of ample supply. But, as market conditions have tightened, if they are serious about purchasing a resale home, buyers can no longer significantly delay that decision. “While market conditions are a far cry from activity witnessed throughout the frenzy in 2006 and 2007, there has been a noticeable change over what became the norm over the past few
1480
1609
1710 1582
1209 1006
1174
1132
745
773
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
722
879
962
988
1036
1106
1153
1284
1386
1398
1313 1217
1169
1355
1576
MLS® NUMBER OF UNITS SOLD* MAR ‘11 – MAR ‘13
years.” Walters said. Single-family year-over-year sales growth declined by six per cent in March, a reflection of declining supply. Active inventory totaled 2,713 units, 22 per cent lower than levels recorded in 2012, and the lowest March inventory level recorded since 2007. The market balance continues to trend into seller’s territory in this segment, causing a year-over-year price increase of nearly nine per cent, for a total of $446,500 in March 2013. “Tighter rental conditions and continued employment growth has supported housing demand growth,” said Ann-Marie Laurie, CREB®’s chief
Single-family, year-over-year sales growth in Calgary declined by six per cent in March, a reflection of declining supply. The City’s active inventory totaled 2,713 units, 22 per cent lower than levels recorded in 2012, and the lowest March inventory level recorded since 2007. economist. “However, for those looking for more affordable single-family home products, their choices continue to narrow.”
STATISTICS A3
City’s spring contents news briefs clean-up to kick off event listing INDUSTRY soon
A3 A6 A11
A good investment
CREB® STAFF
T
he City of Calgary is preparing for its annual Spring Clean-up with hopes of kicking off the program April 15, weather permitting. Calgarians may already be seeing sweepers in their area as City crews are taking advantage of fair weather for winter sweeping.
*All statistics based on monthly data compiled by CREB® via MLS® activity.
MUNICIPAL A3
mortage rates commercial MLS® STATISTICS POP THE QUESTION
A11 A12 A13 A15
Charron Ungar
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