WALLPAPER’S COMEBACK
PREP YOUR HOME EAST VILLAGE
CREA FORECAST
Wall coverings more fun than watching paint dry
Like it or not, winter is on its way
Alberta MLS® sales increase to lead country
DESIGN A8
‘Experience Centre’ to showcase condos
HOW TO A8
CONDOS A14
MARKET A14
FREE aug 19 to aug 25 2011 issue 01-31 www.creb.com
CALGARY’S HOUSING MARKET TO CONTINUE ITS PATH TO RECOVERY
CREB® STAFF
F
ollowing steep declines in 2010 sales, the Calgary residential resale market is on the path to recovery, according to CREB®’s midyear housing update for 2011. Single-family sales will lead the growth with an anticipated eight per cent increase in sales. Prices are expected to record a moderate increase, mostly due to an increase in higher-end sales and consumer appetite for somewhat discounted higherend homes. The improved selection of homes in all price ranges will continue to contribute to the balanced conditions in Calgary’s housing market. “A better range of single family homes on the market, combined with relatively stable pricing, will continue to boost sales,” said Sano Stante, president of CREB®. “However, if economic concerns south of the border continue to grow, we may experience some volatility along the road to a sustainable recovery.” On the condominium side, gains in the market have been slower, due to ramped up supply in the new condominium market and improved selection of single family homes in a wider price distribution. According to CREB®’s forecast, condominium sales in the second half of 2011 will not be enough to compensate for the declines in the first half of the year, and sales will still be marginally lower than levels recorded in 2010. Average condominium prices will remain steady, matching 2010 levels. “That being said, condominium sales have improved recently, helping to curb supply and stabilize prices,” said Stante. “The fundamentals over the past few months remain unchanged regarding much of the situation in the U.S. and Euro zone, yet consumer sentiment has shifted recently,” Stante said. Stante acknowledged that the local housing market will be dependent upon consumer confidence in the coming months—something he admits is difficult to predict right now. “Despite the recent turmoil, in the long run, Alberta is well situated given its abundance of resources and long term plans to access broader markets,” Stante concluded.
CREB® releases its revised 2011 Calgary housing forecast
$479,575
$481,964
$455,849
$462,947
$461,786
$441,341
$454,163
$455,460
$444,744
$445,617
$460,278
$464,655
$483,240 $460,378
$471,269 $458,254 $441,217
$451,349
$464,444
$462,465
$459,085
$454,130
JUL09 AUG09 SEP09 OCT09 NOV09 DEC09 JAN10 FEB10 MAR10 APR10 MAY10 JUN10 JUL10 AUG10 SEP10 OCT10 NOV10 DEC10 JAN11 FEB11 MAR11 APR11 MAY11 JUN11 JUL11
$436,782
CREB STAFF
NEWS BRIEFS
A3
EVENT LISTING
A6
MORTGAGE RATES
A10
®
S
even derelict, unsafe houses were destroyed by The City at the homeowner’s expense recently after being identified as unfit to live in. When a building is neglected for too long it can become unsafe, becoming a greater risk for fire. The City, through the Municipal Government Act, is able to order owners to remediate or remove hazards associated with these properties. If the owners are unable to do so or unwilling, The City will intervene and demolish it at their expense.
*All statistics based on monthly data compiled by CREB® via MLS® activity.
Idyllic Retreat in an Outstanding Setting
A13
COMMERCIAL Canadian execs confident
MUNICIPAL A3
MAP
B1
OPEN HOUSES
B19
POP THE QUESTION
B20
Kent Hehr
Custom Jigsaw built home with cutting edge environmental upgrades & highend finishes. Open concept main level displaying porcelain tile & bamboo hdwd flooring. Modern kitchen w/ sleek granite counters, oak cabinets, SS appl & large pantry plus built in desk area. Dining area w/20 ft. vltd ceilings, custom light fixtures & skylights. 9 ft. ceilings & quarter sawn-oak custom millwork throughout. Living area with Valor FP and French door passage to the south facing yard. In-floor heating in bsmt, upstairs baths & the unique U/G TUNNEL from bsmt to gar. Decadent mstr bdrm & 5 pc ensuite bath w/rain shower, dbl sinks, jacuzzi tub and walk-in closet. Upper den w/ cozy FP. Fully finished bsmt w/ rec room, flex room & bdrm w/4 piece bath. Solar thermal system & wholehouse water filtration. MLS®C3488472
MLS#C3487000 $589,000
1935 49th Avenue Canyon Creek
BUSINESS DIRECTORY A10
Completely Upgraded Altadore River Park Home
• Set in the scenic foothills near Priddis, for a weekend retreat or prIvacy year-round. • Upgraded cabin; new roofing, flooring, windows, and a new bathroom. • Great room with vaulted ceiling. • Bright kitchen has a wonderful view of rolling green hills. • Workshop/garage with a large office and a modernized space above consisting of kitchen/ laundry area, dining/living room, bedroom, and 4 pce bath.
phone 403-540-0540
CONTENTS
CITY DESTROYS SEVERAL DERELICT PROPERTIES
$479,580
SINGLE FAMILY
$489,482
CODY STUART, CREB® Staff
MLS® AVERAGE PRICE* JUL ‘09 – JUL ‘11
LEE EDWARDS
According to CREB®’s mid-year housing update for 2011, single-family sales will lead the growth with an anticipated eight per cent increase in sales.
www.sanostante.com
|
$1,549,900
RE / MA X RE AL ESTATE ( CENTR AL )
403.289.3435