coping with loss
attainable homes land supply debate
What to do when the lights go out
Organization offering 28 new units how to A9
City, developers offer differing opinions on Calgary’s growth
community A10
development A15
FREE jan 17 to jan 23 2014 issue 04-02 www.crebnow.com facebook.com/crebnow twitter.com/crebnow
real estate news from industry experts
A ‘well positioned’ market
Single-family sales Y/Y price change (%) 2014 forecast
R
esale homes sales in Calgary are expected to moderate this year, with volume increasing by 3.6 per cent and prices up by 4.3 per cent. CREB®’s forecast anticipates a rise in resale listings and less upwards pressure on prices. The forecast, presented at the BMO Centre at Stampede Park, predicts sales in the city to moderate, climbing to 24,335 units in total. “In 2014, both sales activity and prices are expected to improve, but not at the same pace recorded this year,” said Lurie. “While factors influencing
$527,764
$516,447
$516,244
$512,359
$517,234
$524,900
$496,579
$496,636
$488,311
$492,777 $468,360
$475,272
$478,528
$489,271
$502,065 $483,519
$472,465
DEC11 JAN12 FEB12 MAR12 APR12 MAY12 JUN12 JUL12 AUG12 SEP12 OCT12 NOV12 DEC12 JAN13 FEB13 MAR13 APR13 MAY13 JUN13 JUL13 AUG13 SEP13 OCT13 NOV13 DEC13
$438,683
$453,629
$469,726
$527,162
MLS® AVERAGE PRICE* DEC ‘11 – DEC ‘13
$518,452
SINGLE FAMILY
demand will support growth in 2014, rising listings and increased competition from the new home sector should alleviate some of the supply pressure in the market.” For the second year in a row, city of Calgary sales growth reached double digits in 2013. However, 2013 is the first time since the recession of 2008 that sales activity rose above long-term trends. CREB®’s forecast predicts sales in the city to moderate, climbing 3.6 per cent to 24,335. Despite the nearly 11 per cent rise
$521,887
managing editor
$510,834
Cody Stuart
$518,392
CREB® housing forecast calls for further gains in 2014
*All statistics based on monthly data compiled by CREB® via MLS® activity.
in MLS® sales, new listings fell slightly in 2013, dropping by roughly one per cent for the year. The result, said Lurie, was upwards pressure on the price of Calgary homes. The benchmark price for a Calgary home averaged $411,417 in 2013, nearly eight per cent higher than 2012. In 2014, the pace of resale price growth in the city of Calgary is forecast to ease to 4.3 per cent., with a benchmark price of $418,162. Lurie said a rise in the number of homes up for sale should also help lessen the upwards pressure on prices
seen in 2013. City-wide, new listings are expected to rise by 1.7 per cent in 2014, increasing from 31,844 to 32,153. “All factors being relatively equal year over year and with the likelihood of more listings coming onto the market along with increased supply from the new home sector we expect overall house prices will continue to rise, but the rate of increase in home prices may be slightly slower,” said CREB® President Bill Kirk.
2014 forecast A3
Building contents permits show news briefs increase in market Luxury sales up November CREB® STAFF
Provincial
C
Surrounding towns
algary area building permits accounted for nearly half of all those issued in the entire province in November. According to Statistics Canada, builders in the Calgary census area were issued $645.2 million worth of permits in November – a 75.5 per cent increase over November 2012. An indicator of future activity in the construction sector, $1.47 billion in building permits (seasonally adjusted) were issued in Alberta in November.
construction A3
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open houses
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AnIbAl
roDriGUeS Phone 403.512.1930
OPEN HOUSE: SATURdAy, JANUARy 18 & SUNdAy, JANUARy 19
6 bEARSPAW VAllEY PlACE | $1,278,000
504 WIllACY DRIVE SE | $629,900
131 WhItEhoRn RoAD nE | $394,900
5 bedrooms, 4 bathroom walkout on 2 acre lot. This home brings a sense of the outdoors in while creating a home that is exceptionally luxurious and comfortable. This recently renovated home offers over 4,200 sq. ft. of living area. MLS®C3590442
This beautiful 4 level split home is located in the heart of Willow Park. This home offers a spacious living room with plenty of windows to allow in natural light, and an adjacent dining room. The large kitchen has been updated. The main level also features a family room/sun room. MLS®C3596204
This wonderful four level split is located in the desirable community of Whitehorn. The bright and spacious living room and adjoining dining room offer ample space for entertaining. 3 + 2 bedroom, 3 baths. MLS®C3591570
www.calgarybuysellhomes.ca
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Torneiro Phone 403.510.3358 SUTTON GROUP-CANWEST (VISTA)