A recent RE/MAX survey conducted by Leger found more than one in four Canadian homebuyers report feeling pinched by the stress test, which came into effect in January of this year. However, projections for the spring market show optimism with most markets expected to remain stable or improve. For the full report click HERE. Continue reading →
Canada Real Estate
Just Listed in Signal Hill!
37 Simcoe Close SW – $839,000 (MLS #C4075171)
Pride of ownership is evident in this stunning Signal Hill home. An abundance of special features & upgrades include: Cornice work throughout & sculptured accent areas, AC, maple hardwd, custom shutters & black out blinds, updated lighting & carpet (main & upper flr), recently painted, spacious open concept kitchen (granite, breakfast bar, newer dishwasher, walk through pantry to convenient mud rm), newer deck/railings & rear fence, cozy family rm with extensive built-ins & fireplace, main flr laundry (high end washer/dryer & laundry sink). Upon entering the 2nd level via the grande curved staircase you’re greeted w/ vaulted ceilings & skylights, breathtaking mountain views from the bonus rm & your dream master with renovated spa like en-suite featuring Washlet, water fall shower head & heated flooring. Spacious dbl attached garage. This home offers more than you could ever imagine right from the curb – luxury living at it’s finest! A quiet location close to amenities, walk to LRT, Rec Centre and school.
Click Here to view the virtual tour
Demand down with net migration
In step with City census data on declining net migration levels, housing sales activity totaled 1,741 units in July, a 12.6 per cent decrease over last year and the 20th consecutive month of year-over-year sales declines.
“Continued pullback of sales activity is a sign of economic conditions,” said CREB® chief economist Ann-Marie Lurie. “The number of unemployed workers keeps rising and when you combine job losses with declining net migration, the result is going to be weaker housing demand.”
Slower sales were accompanied by declining new listings in July. This helped prevent further inventory gains and minimize the downward pressure on benchmark prices. By months end, the residential benchmark price was $440,000, similar to last month, but 4.2 per cent below July figures from the previous year.
While detached price seem to be leveling, this is not the case for all property types. With over six months of inventory in the apartment sector, oversupply continues to create steep price declines.
The apartment benchmark price totaled $277,000 in July, a 0.4 per cent decline over the previous month and 6.6 per cent below last year’s levels. City-wide benchmark prices for detached product totaled $502,300 in July, which is similar to last month, but 3.4 per cent lower than last year’s levels.
Meanwhile, semi and row attached product recorded a year-over-year decline of 3.1 and 5.5 per cent for July prices of $385,200 and $310,300. “To buyers and sellers that have been paying attention to the housing market in Calgary and surrounding areas, it should come as no surprise that we continue to see a slowdown in sales activity,” said CREB® president Cliff Stevenson.
“Buyers are expecting further declines in sold prices, and sellers are adjusting to softer demand with price decreases. When these expectations intersect, we’re seeing sales activity in the market, but not at the level realized over the last several years.”
Click on the following link to view the full .pdf of the July 2016 – City of Calgary Housing Market Statistics
Click Here to view the Regional Statistics for July 2016!
New Listing in Renfrew!
430 14 Avenue NE – $479,900 (MLS #C4073800)
A fantastic inner city location ideal for families, singles, couples or an investment property. This adorable character home with a functional floor plan is close to numerous amenities yet on a quiet street. Special features include: hardwood flooring, spacious dining room, updated kitchen with breakfast bar enjoy the view to the backyard, adorable front porch and back deck perfect for entertaining in your large private fenced yard complete with perennial flowers and a vegetable garden. Lower level offers 3rd bedroom with plenty of light complements of good sized windows , 2 piece bathroom, laundry room, recreation room & plenty of storage. Ample space for parking an RV next to the single garage with shelving & work bench. The cost of the new curbs has been paid. The thermostat is programmable for your convenience.This affordable home in a central area is close to schools, shopping & restaurants on Edmonton Trail. Easy access to the airport- walk or bike to downtown. Do not miss this Renfrew home! Click Here to view a virtual tour!
Just Listed in Willow Park
9907 WILDE Road SE, $380,000
Incredible value and potential for the savvy investor or if you are handy and looking to renovate and have a lovely home that meets all of your desired tastes. Hardwood under the carpet, main and upper levels ,newer windows throughout , newer furnace ,the blinds (currently removed) are included and have a suggested retail price of $10k. Double garage ,west facing back yard. Fantastic location-just moments to South Centre Mall, Trico Center, Anderson LRT station, Fish Creek Library and much more! Do not miss out on this outstanding opportunity. Click Here for more information!
Just Listed in Mount Pleasant – Executive Home!
807 26th Avenue NW – $1,575,000
Live in the sought after inner city community of Mount Pleasant- just steps from Confederation Park. Numerous custom features throughout: Hydronic heat system, AC on upper level, walnut hardwood, crown moldings, coffered ceiling in foyer, Hubbardton Forge & Murray Feiss lighting, Global custom blinds, open concept kitchen w/ inviting family room (including fireplace & built-in wall unit) the perfect area for entertaining (as well as a separate formal dining rm), all appliances are superior models, large patio doors leading to your SOUTH facing private yard, deck & lovely landscaped yard, main floor den, practical mudroom, upper level laundry, master bedroom includes a cozy sitting area with a fireplace- step out to your balcony enjoy the park & Nose Hill, fabulous 5pc ensuite/ separate dressing rm , the 2 additional upper bedrooms share Jack+Jill bathroom. You will appreciate the media/rec room,guest suite w/Thermasol steam shower on lower level. Spacious triple garage .This could be your dream home! CLICK HERE to view a virtual tour!
Just Listed in Country Hills
Pride of ownership is clearly evident in this lovely 2 Bedroom + Den home. The open concept Kitchen/living area is the perfect area for entertaining. Kitchen island and plenty of cupboard space make this a comfortable and convenient space to cook. Upper level includes your master retreat complete with updated 3pc ensuite. Bright and spacious lower level with recreation room to be utilized for a 2nd media rm or an excellent space for children to play, Laundry, ample storage and Den which could easily be converted to a 3rd bedroom. The West facing yard has been transformed into a beautiful area to relax and enjoy in the summer months. You will appreciate your attached garage and fabulous location close to numerous amenities! Do not miss this outstanding opportunity for a young couple, investor or empty nester to own this immaculate home.
Click Here to view the virtual tour
Just Listed in Bel-Aire!
1220 Bel-Aire Drive SW – $1,750,000
| An exquisite home in one of Calgary’s most desirable inner city neighbourhoods. Special features are countless in this well maintained property: Floor to ceiling windows, private Den off of front foyer, stunning gourmet open concept kitchen (Miele applainces:built in espresso/coffee machine, gas stove, steamer oven, warmer, etc.) separate kitchen noon/dining area and 2 cozy fireplaces, built in sound system & lovely family and living rm to relax or entertain. Both bedrooms include ensuite’s on upper level and the master includes your DREAM closet (a spacious room) with sky lighting and vaulted ceilings. Multi-Functional Lower Level with 3rd fireplace, plenty of storage, bathroom w/ steam shower, 2nd Den and currently includes a gym in the rec rm area. Your yard is outdoor living at its finest with a fantastic deck, fabulous Lynx BBQ and beautiful landscaping. Minutes to downtown, shopping, Rocky View hospital, schools, Glenmore reservoir pathways. A superbly designed property to call home! CLICK HERE to view the virtual tour. |
Team Penley McNaughton's Monthly YYC Newsletter
Click on the image or HERE to view the newsletter (YYC Newsletter Jun 2016)
City of Calgary and Regional Monthly Statistics
Home prices down, but not out…
Calgary home prices continue to slide in most areas of the market, but not at the rate that many might expect. This is partly due to June’s resiliency in the detached and semi-detached sectors of the market, where sales compared to new listings and standing inventory started returning to more balanced levels.
“The detached market has been gradually moving towards more balanced conditions, helping to prevent price levels from declining at the faster rates we saw in the previous two quarters,” said CREB® chief economist Ann-Marie Lurie. “While this is welcomed news for sellers, it’s very likely that pricing challenges will persist in the housing market until economic conditions start to improve.”
Detached benchmark prices totaled $502,400, which is 0.4 per cent higher than last month, but 3.4 per cent lower than last year’s levels. This is the first time in eight months that detached prices recorded a monthly gain, helping ease the quarterly decline from 2.2 per cent in the first quarter to 0.7 per cent in the second quarter.
Overall sales activity remained relatively weak in June, falling by seven per cent to 2,028 units. Inventory levels went in the other direction and continued to climb in June to 5,973 units, 16 per cent higher than last year. Both the attached and apartment segments of the market have recorded inventory gains around 30 per cent, far greater than the year-over-year increase of five per cent in the detached sector.
Higher inventories and weaker demand continue to have a larger impact on pricing in the apartment and row sectors. June apartment prices slid by another 0.1 per cent over last month, pushing the average year-to-date benchmark price down 5.3 per cent below last year. Attached product experienced a monthly slide of 0.3 per cent, mostly due to steeper price declines in row style product.
“The price adjustments that we’ve seen in the past year have allowed some buyers to get into homes that were previously unattainable,” said CREB® president Cliff Stevenson. “This is especially true for homeowners with financial stability and a good amount of equity in their home. With so much choice out there, it’s giving consumers an opportunity to find their ideal home at a price they can afford.”
Click Here to view the full .pdf of the June 2016 City of Calgary Monthly Housing Statistics
Click Here to view the full .pdf of the June 2016 Regional Monthly Stats Package
