TALKING THE WALK LATE BLOOMERS
Parks Feature
Experts weigh in on two-legged transport
Proximity to green spaces paying off for homeowners
WALKABILITY A9
How to extend your gardening season DONNA BALZER A11
A7 FREE sep 4 to sep 10 2015 issue 05-34 editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca
real estate news from industry experts
SETTLING DOWN
CODY STUART, Managing Editor
‘Downward pressure’ bringing added choice, affordability to Calgary market CODY STUART
managing editor
A
mid ongoing uncertainty in the province’s energy sector, sales in Calgary’s resale residential housing market declined by 27 per cent in August over the previous year to 1,643 units, according to CREB®’s monthly housing summary. While the decline in sales was evident across all price ranges, homes $600,000 and up saw the most significant decline in absorption rates (sales versus new listings) compared to last year. Year-to-date new listings in this range were similar to levels recorded last year, yet sales activity represented
only 18 per cent of all the sales last month, down from nearly 20 per cent last year. During the first eight months of the year, sales in Calgary’s $1-million-andup category have declined by 35.64 per cent compared to last year, while sales of $3 million and up have dropped by 57.89 per cent. A s e p a ra t e re p o r t f ro m RE/MAX noted the current market is encouraging many would-be buyers to take their time in making decisions, particularly in the luxury market. The average number of days on market in the $1-million-plus range stands at 59, with 2.3 to 2.5 months’ supply. “What we’re seeing in Calgary is
CITY OF CALGARY SALES-TO-NEW-LISTINGS RATIO BY PRICE RANGE 90% 80%
MLS® NEW LISTINGS* AUG ‘13 – AUG ‘15
YTD-AUG 2014 YTD-AUG 2015
70% 60% 50% 40% 30% 20% 10% 0%
<
STATS A3
AUG13 2,725 SEP13 2,773 OCT13 2,794 NOV13 2,521 DEC13 1,825 JAN14 971 FEB14 2,396 MAR14 2,711 3,319 APR14 3,753 MAY14 4,327 JUN14 3,817 JUL14 3,219 AUG14 3,147 SEP14 3,259 OCT14 2,919 NOV14 2,093 DEC14 JAN15 1,381 FEB15 3,288 MAR15 2,950 APR15 3,136 3,064 MAY15 3,161 JUN15 3,122 JUL15 2,733 AUG15
CITY OF CALGARY
that luxury buyers are not witnessing a notable decrease in prices, but there is less pressure and stress for buyers during the negotiation process,” said Elton Ash, regional executive vice-president of Western Canada for RE/MAX. “We’re seeing that normal conditions like home inspection and financing, which were rarer when buyers were frequently in competing offer situations, have become part of the normal negotiation process again. Buyers don’t have to make up their minds on the spot.” CREB® largely echoed the RE/MAX report, with president Corinne Lyall adding the combination of price declines and higher inventory levels in some segments of the market are influencing buying patterns in the city.
0 ,0 00 $2
0
+ 0 0 0 0 00 9 00 00 00 9 00 9 0 0 , 00 9 00 9 , 0 , , , , 9 , 9 9 9 00 ,99 700 9,9 0 0 ,9 00 00 ,99 300 9,99 400 9,9 $6 699 $5 599 $ 99 $2 299 1,0 $ 49 $ 39 $ $ $ $ $ $ $
Source: CREB®
EAST VILLAGE CONTENTS WELCOMES FIRST NEW RESIDENT
NEWS BRIEFS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A3
FIVE THINGS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A4 East Village
ENVIRONMENT. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A5 Green homes
CREB® STAFF
C
algary’s revitalized East Village has welcomed its first new resident. Marc Patel, a 28-year-old pharmacy manager for Canada Safeway, became the first of 11,000 residents expected to eventually call the community home when he accepted the keys to his new home in the aptly-named FIRST condo tower.
*All statistics based on monthly data compiled by CREB® via MLS® activity. Includes detached, attached and apartment.
COMMUNITY A3
DOORS OPEN YYC. . . . . . . . . . . . . . . . . . . . . . . . . . A6 Art Smith Aero Centre
COMMUNITY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A8 Urban parks
MORTGAGE RATES . . . . . . . . . . . . . . . . . . . . . . . . A8 POP THE QUESTION. . . . . . . . . . . . . . . . . . . . . . A10 Byron Miller, University of Calgary
MAP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B1 OPEN HOUSES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B19 @crebnow
/crebnow
crebnow.com
HAS THE HIGH PRICE OF VACATION HOMES GOT YOU DOWN? COMBINE YOUR EVERYDAY HOME AND YOUR VACATION HOME IN ONE. Live on the lake and enjoy the sunsets from your lakefront estate on the East shore of Chestermere lake. This 5800 sq. ft. (developed) lakefront home is well-appointed with 5 bedrooms and 5 baths, a media room, games room, large family room, solarium, 600 sq. ft. master suite, 2nd kitchen, huge wet-bar, 2 storey vault in living room, 11.5 x 29.6 side storage for snowmobile, quad, or lake toys with basement access. Paved ramp to backyard to accommodate RV or extra vehicles. Boat lift, great dock, 60 foot wide lot. Oversized garage. $1,250,000. Chestermere offers an exceptional lifestyle just 5 miles from the Calgary limit and 30 minutes to downtown. Call Doug McKay 403-975-1776. MLS®C4016764 Text sunset to 587-333-0281 for photos & more details.
www.ChestermereRealEstate.com
RE/MAX Real Estate Advocates