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Great News for Real Estate in Calgary!  Read more here.  

Calgary on of the Top of the Canadian Real Estate Market.


Housing price disparity growing between major centres, rest of Canada


TARA PERKINS - REAL ESTATE REPORTER

The Globe and Mail

Published Friday, Nov. 07 2014, 5:00 AM EST

Last updated Friday, Nov. 07 2014, 7:21 AM EST



The gap between how quickly home prices are growing in Toronto, Calgary and Vancouver, compared with the rest of the country, is growing.


That’s one of the things that Brookfield RPS found when it crunched some numbers for The Globe and Mail to look at the increasing disparity between those three major cities, which represent one-quarter of Canada’s housing stock, and the remaining places that form the bulk of the national market.


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It found that average property values in Toronto, Calgary and Vancouver areas combined have risen by 83 per cent over the past decade, from $345,000 to $634,000, while those in the rest of the country have risen by 60 per cent, from $205,000 to $327,000.


In the past year average property values in the three cities have risen by 9 per cent, from $578,000 to $634,000, while those in the rest of the country have risen by 3 per cent, from $317,000 to $327,000.


The two recent periods where values in Toronto, Vancouver and Calgary seem to have really accelerated over the rest of the country were in the first quarter of 2009, just after the worst of the financial crisis, and in the second quarter of 2013, when mortgage rate wars started to heat up, Brookfield points out.


“While these major markets have seen very strong growth, there is still 75 per cent of the Canadian market that generally follows a different trend-line,” it said.


Drilling down further, the price growth in the three cities has really been driven by detached homes in the downtown areas.


To study this in detail Brookfield looked at just the 416 area code in Toronto, Vancouver without areas such as Richmond and Burnaby, and Calgary without areas such as Airdrie and Rocky View. In Toronto, detached downtown houses saw prices rise 75 per cent over the past decade, from $425,000 to $742,000, in Vancouver detached downtown houses saw prices rise 174 per cent from $585,000 to $1.6-million, and in Calgary prices rose 99 per cent from $267,000 to $530,000.


“On an overall weighted basis, these three sub-segments of the Canadian market combined grew by about 100 per cent over the last decade,” Brookfield says.


Toronto has about 275,000 detached homes, representing 2.1 per cent of the total Canadian housing stock. Calgary has 249,000, making up 1.9 per cent, and Vancouver (without Richmond, Burnaby and North and West Vancouver) has a mere 48,000, about 0.4 per cent of the overall stock.


In other words, the detached homes that are adding so much fuel to overall average Canadian home price growth make up only 4.4 per cent of the country’s housing stock.




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Second highest MLS sales ever for the month


CALGARY - Calgary’s booming resale housing market showed no signs of slowing down in October as MLS sales reached their second highest level ever for the month while prices continued to gain year-over-year.


According to preliminary, unofficial data from the Calgary Real Estate Board, total MLS sales in the city during the month increased by 10.27 per cent from last year to 2,148. The median price was up by 5.33 per cent to $430,550 while the average sale price rose by 6.49 per cent to $486,411.


New listings of 2,919 were up 15.79 per cent from October 2013 and active listings at the end of the month increased by 15.23 per cent to 4,425.


“October showed little sign of the housing market slowing down as sales momentum continued this month. Positive sales growth throughout the housing sector was demonstrated largely in part by the record number of luxury home sales as well as a steady resale market,” said Kaitlyn Gottlieb, a realtor with Century 21 Bamber Realty Ltd. “Net migration and population growth, coupled with Calgary’s vast employment opportunity together with comparatively high wages, remain the driving factors behind the price growth Calgarians continue to see.


“Although still below historical norms, improvements in Calgary’s inventory levels and the easing of market tightness has added to listing growth and furthered stability, alongside sales this quarter. As we approach the end of fall, we continue to see a firm confidence in both homebuyers and investors adding to the anticipation that sales will remain at a positive level moving into the winter months.”


Mike Fotiou, associate broker with First Place Realty, said October sales were just behind the all-time record of 2,204 set in 2005 for the month.


Average sale prices in October neared the all-time records of $492,136 for the city which was set in June this year and $567,653 in the single-family market which was established in September.


In October, the single-family home market saw sales of 1,463, up 9.75 per cent year-over-year. The median price rose by 8.41 per cent to $490,000 while the average sale price was up by 7.50 per cent to $555,114.


The condo apartment category had 385 transactions, up 14.24 per cent. The median price rose by 4.04 per cent to $283,000 and the average sale price increased by 4.18 per cent to $322,357.


In the condo townhouse segment, sales of 300 were up by 7.91 per cent from last year. The median price of $333,766 and the average sale price of $376,227 were up 4.71 per cent and 3.70 per cent respectively.


And in the towns outside Calgary market, MLS sales climbed by 27.13 per cent to 492 transactions as the median price was up 7.57 per cent to $387,250 and the average sale price rose by 7.40 per cent to $419,508.


Ann-Marie Lurie, chief economist with CREB, said overall demand continues in the local real estate market.

“We’ve had the strong employment growth. The migration that we’ve seen over the past few years. And now there’s been listings. So there’s been some selection in the market and that’s really encouraged some of that demand,” said Lurie. “We still are in a period of favourable lending rates. All of that is encouraging the sales activity that we’ve seen.

“It hasn’t shown any sign of slowing because we’ve had the listings. What’s really shifted is that the market is more balanced now than it was even three to six months ago.”

 

mtoneguzzi@calgaryherald.com

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© Copyright (c) The Calgary Herald


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Have you heard about Calgary's Green Community? 

About EchoHaven

EchoHaven is a sustainable community at Rocky Ridge in north-west Calgary. The small neighborhood for 25 homes with a beautiful, natural setting focuses on quality of life, minimal environmental footprint, healthy and extremely efficient homes, solar heating strategies, and water conservation initiatives. Residents will have common goals about the environment, have the ability to make there own choices and work together.

Features

  • EchoHaven has preserved over 60% of the existing natural landscape
  • Reduction of 80% of grid power compared with an average home
  • Zero greenhouse gas emissions
  • Rainwater harvesting to reduce treated water consumption by 72%
  • All homes will meet minimum EnerGuide 84
  • Community amenities building and greenhouse

Make Life Better

At EchoHaven your life will be better and in turn you will make life better for others. Life will be better because you will live in a quiet cul-de-sac with trees, ponds and mountain views but you are still close to all the amenities and services that the City has to offer. Your home will stay warmer in winter and cooler in the summer. The additional insulation and better quality windows that provide efficiency add to your well-being by bestowing quiet in your home. Your have the ability to reduce your utility bills because your house will not need as much heating and cooling and you can add solar panel and rainwater collection to further reduce your consumption. EchoHaven will include an amenities building that will provide homeowners with access to a guest suite and meeting space. A greenhouse and garden area will provide residents with the option to grow produce all year round or simply provide a welcome respite from winter in Calgary. All home sites have solar access and are grouped together to provide more common area. As an owner at EchoHaven, you will own your lot and 1/25 of the common property. Are you ready to embrace a lifestyle that gives back? Make life better.

 

“We use a lot less [energy],” said Pelletier, whose former home, a 1959 two-storey, was costing him between $600 and $700 a month in winter for utilities. Since his move, his utility bill has been around $150 a month. 

“I’m a firm believer in the environment, but it also has to make economic sense,” said Pelletier.

 

Here are some links to news about EchoHaven :

 

http://metronews.ca/news/calgary/1192938/welcome-to-echo-haven-calgary-community-living-green-and-loving-it/

 

http://www.echohaven.ca

 

 

https://www.cmhc-schl.gc.ca/en/inpr/su/eqho/echa/

 

 

http://www.buzzbuzzhome.com/echohaven

 

For More information Contact Lawrence today!

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Which Bathroom Remodel is your favorite?

 

 

 

So are you ready to remodeling your bathroom extravaganza or maybe you’re just want idea on what you should make your bathroom look. If you in that case, continue to view our posts, we found a few of our select “Exotic Bathroom Remodeling”.

Have more space

 

To have a fresh look, opening up a bit of room when remodeling your bathroom can give off an exotic look. Take a look like the one you seeing above. Notice how many space this bathroom has, also the framed tub with tile aligned in a wonderful curved display.

 

 

 

Totally Custom

 

Bathroom remodeling exploit is never completed we wish you to create something unique with your own design and colors. Creativity is main to a norm peace of mind. The choices are endless whether you do it yourself or hide a professional. Know what you want and stick to your own budget. If you need more bathroom remodeling ideas, send us a message we can give you more.


*Bathroom Remodeling Tip – Never be afraid to call a pro to do the remodeling for you.

 

 

 

Color Pattern

 

If you looking for easy affordable bathroom remodeling designs then just switched up the currently colors and using a different style. Using different colors or style online will be the easiest way to find the best color you never though about looking good together.


*Bathroom Remodeling Tip: Always ask a professional.

 

 

Have No Limit

 

Don’t just stop there. Bathroom remodeling usually get a bit more fun with the right style. Especially using your own style and your own creativity can seriously transform your bathroom into artwork. Gorgeous custom bathroom remodeling designs can all found over the Internet. If you having trouble on which style or how to create your creativity, feel free to search the net for style that will fit you.


*Bathroom Remodeling Tip: Sizes always everything. Measure everything before buying and have a visual layout ready with the sizes you want before leaving to shop for your new bathroom.

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This is where Western Investor believes real estate investors have the best chance to make the most money over the next two years


By Frank O’Brien

Welcome to Western Investor’s second pick of the top towns and cities in Western Canada where, in our opinion, real estate investors in both the commercial and residential sector have the best chance to profit. We compile this list every two years and our outlook is based on a two-year horizon, though many of these top markets should also perform long-term.


Investing in Real Estate is like Manure

It Helps Grow Trees!


No. 2: Calgary
Last year Calgary had more new office construction than Toronto and its residential real estate market is considered to have the strongest upside in the country. A caution on oil prices – now at their lowest level in two years – is all that kept Alberta’s biggest city out of our No. 1 real estate ranking for 2014.
That said, Calgary remains an impressive real estate play. Nearly 3,000 people are moving into the city every month – the 2014 influx is the highest on record – and the rental vacancy rate is a tight 1.4 per cent. There are no rent controls – and apparently no end to bold real estate speculation.
In suburban Calgary, Qualico Communities is building the instant community of Harmony, with 3,500 homes on a 1,700-acre site with a 135-acre lake, a 138-acre commercial campus and a 72-hole golf course, the largest in southern Alberta. 
Downtown, Vancouver-based Concord Pacific has launched a high-end residential development on the banks of the Bow River with 200 residential units at record-breaking – the penthouse is $13 million - prices.
Calgary’s commercial investment market is on track to top $1.2 billion this year. Land prices are startling. This year a 12-acre retail site sold for $70 million and a high-density, one-acre residential site on 11 Avenue SW sold for a $30 million. House prices are up 9 per cent from last year and Royal Bank echoes other analysts is forecasting continued price acceleration across the real estate spectrum.


OUR TOP TEN TOWNS 

1 Richmond
2 Calgary 
3 Surrey
4 Edmonton
5 Cold Lake
6 Estevan 
7 Fort St. John 
8 Okotoks 
9 Saskatoon
10 Red Deer


To Read the Full Article Click Here

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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.