LUXURY REBOUND IT’S SPRING TIME
Acreages Feature
Million dollar market provides silver lining
Living life as a country mouse
MARKET A3
Plants don’t need to wear watches DONNA BALZER A8
A8 FREE apr 8 to apr 14 2016 issue 06-13 editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca
real estate news from industry experts
WESTWARD BOUND PHOTO COURTESY MICHAEL BUCKLEY
west of the city – small and large – are seeing increased activity, thanks in part to Calgarians continued urge to move westward. From as near as the Rocky Mountains to as far as the West Coast, Calgarians are being pointed to as contributing factors in real estate markets outside of the city. As the developer behind Canmore’s Spring Creek, a $38-million “active lifestyle community” for seniors, Frank Kernick has seen the impact of Calgary buyers outside of the city. “From the demand point of view, the last three months in Canmore have probably been the strongest January, February and March I’ve seen in 10 years,” said Kernick. According to Kernick, Canmore recorded its highest number of sales ever for the month in January, with
CODY STUART
managing editor
F
ounded largely by intrepid pioneers who ventured west on the then fledgling Canadian Pacific Railway, Calgary is now seeing another western excursion. With home sales in the city facing downward pressure as a result of a weakening labour market, markets
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KENSINGTON TO RECEIVE MAJOR FACELIFT T
he City of Calgary in partnership with the Kensington Business Revitalization Zone (BRZ) has begun construction on improvements to Kensington. The project will replace ageing infrastructure on 10 Street N.W. between Memorial Drive and 5 Avenue N.W. and Kensington Road between 10 Street N.W. and 14 Street N.W.
COMMUNITY A3
*All statistics based on monthly data compiled by CREB® via MLS® activity. Includes detached, attached and apartment.
Strathmore Wildflower Ranch 0
,80
7 $ 39
MLS®C4034268
Strathmore Lakewood Close 0
,90
2 $ 41
Developer Frank Kernick says the majority of buyers for his Spring Creek project in Canmore still come from Alberta.
got to be Canmore because they can’t buy in Banff,” said Kernick. Signalling that some are willing to move a little further west, Kelowna has also seen a rise in the number of homes changing hands. A long-time mecca for Calgarians looking to add a little relaxation to their lifestyle in the form of a retirement or recreation property, B.C.’s Central Okanagan Valley saw sales rise by 14.6 per cent through the first two months of 2016.
WESTWARD A3
CONTENTS NEWS BRIEFS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A3 FIVE THINGS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A4 CMHC debt survey
MARKET . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A5 Tiny homes
POP THE QUESTION. . . . . . . . . . . . . . . . . . . . . . . A6 Asif Kurji, Calgary Transit
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majority of the people buying are still Canadians and Albertans.” “There’s still that baby boomer out there who still wants their place in the mountains and a semi-retirement/ recreational property with the intent of making it their long term home… and obviously the people that might have two years ago bought in the [United States] for their recreational/ semi-retirement home, because of the dollar, are not going to invest in the U.S. at this time are and going to put their money somewhere else.” Kernick said he’s also seen an increase in the number of Albertans taking advantage of the current exchange rates by selling off properties south of the border and using the profits to purchase closer to home. “And for the majority of Calgarians, if they want to be close to Calgary it’s
CREB® STAFF
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MLS® MONTH END INVENTORY* MAR ‘14 – MAR ‘16
5533 5706 5641 5394 5141 5137 5215 5600 5623 5327
CITY OF CALGARY
32 homes trading hands, up from 12 in the previous year. The upwards trend continued in February, with a 58 per cent increase in sales, from 24 to 38 homes sold, according to Spring Creek Realty. Compare those numbers to Calgary, where March home sales totaled 1,588 units, 11 per cent below the same time last year and 28 per cent lower than long-term averages for the month. The benchmark price totaled $442,800 in March, a 0.49 per cent decline over February and 3.51 per cent lower than levels recorded last year. As to who’s buying homes in the area, Kernick said the overwhelming majority of sales still come from those living right here in Alberta. “There are a few Americans taking advantage of the low Canadian dollar and buying as an investment, but the
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Calgarians playing a role in driving home sales outside of the city
MLS®C4023333
Airdrie Kings Heights 0
,90
9 $ 53
MLS®C4054327
Panorama Hills Executive Home 0
,00
5 $ 66
MLS®C4054168
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This Acreage Home has it ALL 00
5,0
22 $ 1,
Orlin McMillan 403.254.0881 MLS®C4044986
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