Lacklustre luxury

May 18, 2018May 16, 2018 Mario Toneguzzi Leave a comment

High-end housing market continues sluggish recovery, but slow sales bump up supply

As a former long-time writer with the Calgary Herald focusing on the real estate beat, I knew how popular coverage of the real estate industry was to readers.

One aspect of the industry people always loved reading about was the city’s luxury home market. So, I was curious how the high-end segment of the housing market has been faring lately.

Year-to-date sales – up to the end of April – of $1-million-plus properties totalled 204 transactions, which is down slightly from 211 during the same period a year ago, says Ann-Marie Lurie, chief economist with CREB®.

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Soft sales continue in April

May 4, 2018May 2, 2018 crebnow Leave a comment

Prices steady, but struggles in Alberta economy weigh on housing

Changes to the lending industry and a challenging economic recovery are weighing on sales activity in Calgary’s housing market.

Supply levels have not adjusted to the weaker demand environment, and that is preventing price recovery.

“Slower sales do not come as a surprise, given the economy has not yet improved enough to offset the impact of changes in the lending industry,” said CREB® chief economist Ann-Marie Lurie.

“While the rising inventories are being monitored, prices have remained relatively flat as gains in some areas of the city have been offset by declines in other areas.”

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The price is right

Apr 13, 2018Apr 11, 2018 Mario Toneguzzi Leave a comment

Proper pricing is a crucial part of selling your home

If you want to sell your home, it is critical to have it priced correctly. If it’s priced too high, it will be passed over in the sea of listings at this busy time of year. If it’s priced too low, you risk the chance of leaving thousands of dollars on the table.

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Housing market inventory on the rise

Apr 6, 2018Apr 4, 2018 crebnow 2 Comments

Prices remain stable compared to last year

As expected, slow sales this quarter have persisted through March in the City of Calgary. This is not a surprise, after stronger growth in sales at the end of last year following the announced changes to the lending market.

First quarter sales totaled 3,423 units, nearly 18 per cent below last year’s levels and 24 per cent below long-term averages. Easing sales and modest gains in new listings caused inventories to rise and months of supply to remain above four months.

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Population planning

Mar 30, 2018Mar 28, 2018 Mario Toneguzzi Leave a comment

City of Calgary report provides estimates for short-term growth in city’s suburbs

What’s Calgary going to look like in the next five years when it comes to growth and the housing market?

The City of Calgary’s Suburban Residential Growth 2017-2021 report sheds some light on where the city is headed in terms of population and housing growth over the short term.

The draft document is an interesting one, and it serves as a starting point of discussion as the City looks to sustainably increase its footprint.

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