Condominium Sector Boosts Calgary Resale Housing Activity

Posted by Nancy Ball on Monday, October 6th, 2014 at 12:47pm.

Personal Note 

Just wanted to wish you all a Happy Thanksgiving as this time of year I reflect on what I am grateful for. Thanks for your continued support as I appreciate the referrals. Wish me luck as I'm hosting this year :-)

The past few months have been very busy for real estate and it doesn't look to be cooling down just yet...Total sales last month showed an increase of 14.5% higher than same period last year, new listings 15.92% increase and benchmark price 10.16% higher. Properties are selling a lot faster as well with a 5% decrease in average Days on Market. The inventory is still low, so good listings are going fast!

Other areas surrounding Calgary are also feeling the heat of the hot market. The top 5 sales in surrounding cities/towns are below:

Airdrie              140   Average Sale Price $393,209
Cochrane          63   Average Sale Price $443,736
Okotoks             52   Average Sale Price $424,390
Chestermere     43   Average Sale Price $532,704
Strathmore        37   Average Sale Price $318,959

Only 15-30 minutes drive out of town, these areas are an excellent alternative if you want more bang for your buck! I have preset searches on my website for these communities. Click on each community above to view listings in that area.

Happy Thanksgiving to you & your family! 

Sincerely, 

-Nancy

Condominium sector boosts Calgary resale housing activity

Citywide year-over-year sales growth reaches double digits

Calgary’s condo sectors continue to set the pace for the city’s residential resale housing market, which recorded 2,148 sales in September, nearly 12 per cent higher than the same period last year.

“September’s sales growth was stronger than expected, due largely to a surge in condominium apartment and townhouse sales,” said CREB® chief economist Ann-Marie Lurie, who credits Calgary’s strong economy and fewer options in the lower-priced single-family market behind the continued demand. Read more »

Home Insurance Loopholes Can Leave You Howling on Halloween

In one month, ghouls, goblins and The Little Mermaid will be at your front door. Are you prepared?

We aren't talking candy-bought, decorations-up prepared. We mean, what happens if Glenda the Good Witch breaks her arm or your house is egged? Are you covered for that? Or will a night of tricks and treats become an expensive horror?

Here are three possible Halloween problems, and the skinny on what is and isn't covered by a typical policy. Read more »

How to avoid getting stuck with bad tenants

You are now the proud owner of a rental property? Here are some tips to ensure that you don’t end up with bad tenants.

Be wiser than the crow  

Once in a while you’ll come upon aspiring tenants who are like the fox in Aesop’s fable, The Fox and the Crow. They are ever so polite and flattering, but they’ll trick you without a second thought. The situation can be particularly unpleasant when an abusive tenant disturbs others in the neighbourhood, perhaps by playing loud music at all hours of the day or night or by leaving garbage in the yard...Read more »

Town of Chestermere hopes to become a city

CALGARY – The Town of Chestermere is one step closer to becoming Alberta’s 18th city.

Council members voted to change Chestermere’s official title from ‘town’ to ‘city’ during a meeting on Monday.

The community, located just east of Calgary, is asking the province to approve the change effective January 1st, 2015. Read more »

Make Your Home Cozy This Winter

We've put together a list of ways to make your home extra cozy and comfortable during the cold season. We've got all sorts of ideas to create a more warm and welcoming home during even the nastiest winter storms, plus a few basic home maintenance tips and tricks. Let it snow! We've got you covered. Read more »

September 2014 Statistics

Active Listings
Single Family: 2961
Condominium: 1081
Townhouse: 552

New Listings
Single Family: 2148
Condominium: 681
Townhouse: 431

Sold *Last 30 days
Single Family: 1398
Condominium: 432
Townhouse: 318

Benchmark Price *Last 30 days
Single Family: $512,800
Condominium: $298,800
Townhouse: $330,200

Last updated October 1, 2014

September 2014 Full Statistics

Upcoming Events

ASK NANCY A QUESTION
  
Q: Hi Nancy, long time no talk! We are thinking of selling our house next year but there are some repairs/updates that we need to get done. Nothing major but things like floors, kitchen cabinets, light fixtures, cosmetic stuff like that. Our question is should we do the repairs/updates or should we adjust the list price to allow for the repairs that are needed?
 

A: That's an excellent question! When doing renovations it can help to consult your Realtor beforehand. This can save you thousands of dollars because you do not want to spend money in excess of the return you will get back. It is usually best to have the house move-in ready as 95% of buyers do not want to have to do repairs themselves. I would suggest to focus on new flooring, new paint and newer appliances. 

Some tips:
  • Don't go overboard with the renos
  • Choose neutral colours on walls
  • Add colour with accessories
  • Choose stainless steel appliances
  • Too many types of flooring used on one level can break up a room
ASK Nancy a question for her to address in upcoming issues!
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