defying the norm Caring canadians Calgary house sales up in February market A8
Governor General visits Calgary community A12
mckenzie towne feature a10 – A11
FREE mar 22 to mar 28 2013 issue 03-11
real estate news from industry experts
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condos back on the rise Calgary condo market thriving while government releases online survey aimed at improving condo living kelsey hipkin
eliminated that. Price, location, size, and minimal yard maintenance all were important when deciding between house and condo,” she said. “I also found the prices reasonable for condos especially in the area I was looking at.” In February, there were a total of 279 condo apartment’s sold after an average 44 days on the market, a 12 per cent decrease in days on the market from the same time in 2012. Between February of this year and last, the average benchmark price of a condo apartment in the city increased 5.95 per cent from $238,700 to $252,900. In the single-family market for February 2013, there were 1,208 units sold after an average of 36 days on the market, a 25 per cent decrease over days on the market in 2013. Year-overyear, the average benchmark price for a single-family home in Calgary increased 9.31 per cent from $404,800 to $442,500. Benchmark pricing is estimated using the MLS® Home Price Index and is based on specific attributes such as square footage and whether a basement is finished.
reporter/photographer
C
algary’s condo market is enjoying a resurgence in response to declining single-family inventory in homes available for under $400,000. “While total new listings are declining, there has been a rise in the number of condominium apartments available in the $200,000 to $400,000 segment,” said Ann-Marie Lurie, CREB®’s chief economist. “While both (condo and singlefamily) markets remain in balance, the single-family market is much tighter and bordering on sellers territory,” Lurie said. “Demand has improved for condominiums, helping reduce the overall inventory levels, firmly placing the market in balanced territory and supporting some price growth in this segment.” Calgarian Lesley McLaughlin took advantage of the condo market buying her first home in the southwest community of Glamorgan. “Being a first time homeowner, I didn’t want the extra work of yard maintenance and purchasing a condo
CREB® President Becky Walters said there’s a recognition the condo act doesn’t properly support condo owners.
condos A3
kelsey hipkin, Reporter/Photographer
SINGLE FAMILY
MLS® AVERAGE DAYS ON MARKET* FEB ‘11 – FEB ‘13
58
60
52 52 49 49 48 45 41 41
43 40
municipal
51 47
43 42 43 41 38 37
36
37
FEB11 MAR11 APR11 MAY11 JUN11 JUL11 AUG11 SEP11 OCT11 NOV11 DEC11 JAN12 FEB12 MAR12 APR12 MAY12 JUN12 JUL12 AUG12 SEP12 OCT12 NOV12 DEC12 JAN13 FEB13
39
49
48
*All statistics based on monthly data compiled by CREB® via MLS® activity.
PoPular Dalhousie
the hamPtons
MLS®C3556038
MLS®C3555358
$281,800
$649,000
Fully developed townhouse with 3 bedrooms, 2 full baths, overlooking the park. Why pay rent?
Walk-out bungalow on the park! Over 2700 sq. ft. of living space. Unbeatable value in the Estates.
Poll reveals contents most Canadians news briefs A3 favour fixed- test your knowledge A6 rate mortgages City of Calgary planning processes CREB® STAFF
Planning transformation
A
mortgage rates pop the question
new CIBC Poll conducted by Harris/Decima reveals Canadians are leaning towards fixed-rate mortgages this spring, marking the third consecutive year they have chosen fixed over variable. The poll also reveals a change in expectations for interest rates, with more Canadians believing today’s low rates will remain in place for at least the next 12 months.
Mortgages A3
A8
A12 A14
Marc Boutin
green living
A16
Environment survey
map open houses
B1 B23
Grant & Steve Hunter are pleased to announce the addition of
Randy Keylock to The Home Hunters Real Estate Group. Randy has worked in the industry since 2008 and brings with him a wealth of knowledge and enthusiasm
info@thehomehunters.com www . thehomehunters . com sutton group canwest
Call randy, Grant or steve if you are considering buying or selling a home, or if you have any questions about the current real estate market!
403-252-6124