new partnership
View our ad on page A4
Mattamy and Attainable Homes team up industry A6 Profeta hare silberman
Inner City Feature A8 – A9
www.nickprofeta.com
REAL ESTATE (CENTRAL)
P R O F E TA | H A R E | S I L B E R M A N N I C K J M P R O F E TA ®
H E AT H E R P R O F E TA
REAL ESTATE (CENTRAL)
PAT H A R E
A Division of 4th Street Holdings Ltd.
Each Office Independently Owned and Operated
MARTINA SILBERMAN ®
FREE dec 6 to dec 12 2013 issue 03-48
403.560.2166 | www.nic kprofeta.com
www.crebnow.com facebook.com/crebnow twitter.com/crebnow
real estate news from industry experts
Families on the move in lively market November sees Calgary homeowners doing plenty of buying and selling
Cody Stuart
managing editor
I
t was just the right time. After observing Calgary’s housing market for the last few years, Miriam Wilton decided now was the right time to make a move. “After watching comparable sales in our area, we felt this was the best time for us to list for a fair asking price,” said Wilton who, along with her husband Phil, decided to sell their southeast Calgary home in November. As it turns out, the Wiltons were just one of 1,730 Calgary households who decided November was the right time to change addresses. MLS® sales for the month in the city were up by 19 per cent increase over the same month in 2012. The rise in sales was driven in part by the ability of homeowners to capitalize on both increased demand and increased prices, said CREB® President Becky Walters. “Many first-time homebuyers appear to be moving now to get ahead of any further increases in home prices, rent hikes or an increase in lending rates,” she said. “And current owners are taking advantage of the recent price gains to upgrade to a home that better fits their lifestyle.” Citywide, only the price of singlefamily homes has fully recovered and started to push above unadjusted levels recorded in 2007. Meanwhile, condominium apartment and townhouse prices remain below peak. Single-family benchmark prices totaled $470,600 in November, 8.5 per cent higher than one year ago. Meanwhile, condominium apartment and townhouse unadjusted benchmark prices totaled a respective $279,600 and $305,700 in November, six per cent below 2007 peak pricing. “Tight market conditions have resulted in higher-than-expected price gains in all sectors of the Calgary market,” said Ann-Marie Lurie, CREB® Chief Economist. “However, these increases need to be put into context.”
statistics A3
After watching sales in the city and comparing similar homes to their own, Miriam and Phil Wilton were one of the 1,730 households who decided to change addresses in November. cody stuart, Managing Editor
SINGLE FAMILY
MLS® AVERAGE DAYS ON MARKET* NOV ‘11 – NOV ‘13
58
60
52 49
48 40
51 47
43 42 43 41 38 37 36
39 37 37 37 38
37 34 31 31
NOV11 DEC11 JAN12 FEB12 MAR12 APR12 MAY12 JUN12 JUL12 AUG12 SEP12 OCT12 NOV12 DEC12 JAN13 FEB13 MAR13 APR13 MAY13 JUN13 JUL13 AUG13 SEP13 OCT13 NOV13
33
*All statistics based on monthly data compiled by CREB® via MLS® activity.
contents
IMF advises CMHC to phase out mortgage insurance
news briefs
A3
event listing
A6
pop the question
A7
CREB® STAFF
Mike Selinger, Cardel Homes
T
mortgage rates
A10
municipal
A11
he International Monetary Fund is recommending Ottawa get out of the mortgage insurance game. The advice, which was contained in the IMF’s latest economic report card for Canada, advocates “the need for extensive government backed mortgage insurance should be reexamined” and said the current policy exposes Canada’s financial system risks and could distort resources that could be better used elsewhere.
industry A3
$520M transit expansion
MLS® Statistics
A12
November 2013
map
B1
open houses
B11
$899,000