Calgary Alberta Luxury Real Estate Update For June 2014

Luxury Property Sales of Single Family Homes in Calgary at the end of May going back until 2005

Year                                       # of Sales over $1,000,000

2005                                                    89

2006                                                   196

2007                                                   208   Thought to be the Top of the Market

2008                       `                          179

2009                                                     94   The bottom of the Market

2010                                                    149

2011                                                     195                                                                  

2012                                                    190

2013                                                    318

2014                                                    359

                                                                                                       

Interesting statistics for Calgary’s Luxury Market

These sales only account for sales through the Calgary Real Estate Board and do not include New Home builds, Condos or Country residential Properties.

In the darkest hour of the beginning of 2009 when everyone thought the sky was falling Calgary still outperformed 2005 Luxury Home Sale numbers.

The number of Luxury Homes sold in the beginning of 2007 was thought to be unduplicatable.  The Luxury home sales moving forward are about to be affected by the new CMHC Mortgage Rules. Canada Mortgage & Housing will cease to put mortgage insurance on $1,000,000 plus properties beginning soon.

If you are thinking to buy a Luxury Home with a large mortgage soon please get in touch with us right away. We can still get you into a Luxury home with a minimum down payment

Rod Forsythe

Rod Forsythe // Managing Partner // The Forsythe Group

Keller Williams Premiere Realty // Calgary Ab. Canada
403.777.1040 // Website www.RodForsythe.com

#1 Agent for Keller Williams in Alberta since 2010

Calgary Alberta Luxury Real Estate Update For June 2014

Luxury Property Sales of Single Family Homes in Calgary at the end of May going back until 2005

Year                                       # of Sales over $1,000,000

2005                                                     89

2006                                                     196

2007                                                     208   Thought to be the Top of the Market

2008                       `                             179

2009                                                     94   Thought to be the bottom of the Market

2010                                                     149

2011                                                     195                                                                  

2012                                                     190

2013                                                     318

2014                                                     359

                                                                                                       

Interesting statistics for Calgary’s Luxury Market

These sales only account for sales through the Calgary Real Estate Board and do not include New Home builds, Condos or Country residential Properties.

In the darkest hour of the beginning of 2009 when everyone thought the sky was falling Calgary still outperformed 2005 Luxury Home Sale numbers.

The number of Luxury Homes sold in the beginning of 2007 was thought to be unduplicatable.  The Luxury home sales moving forward are about to be affected by the new CMHC Mortgage Rules. Canada Mortgage & Housing will cease to put mortgage insurance on $1,000,000 plus properties beginning soon.

If you are thinking to buy a Luxury Home with a large mortgage soon please get in touch with us right away. We can still get you into a Luxury home with a minimum down payment

 Rod Forsythe

Rod Forsythe // Managing Partner // The Forsythe Group

Keller Williams Premiere Realty // Calgary Ab. Canada
403.777.1040 // Website www.RodForsythe.com

#1 Agent for Keller Williams in Alberta since 2010

March 2014 Real Estate Market Update For Calgary, Alberta

Calgary’s resale housing market activity for March 2014.

According to the Calgary Real Estate Board, new levels were reached during the month for median and average MLS sale prices in the single-family market, condo unit sales were up 20% over last year and the Country Residential resale Market is back.

“Today’s Calgary’s real estate market continues to perform at a pace around 2006 unit numbers and this is a positive sign to many businesses. Starter homes and low priced condominiums are selling quickly today buoyed by great mortgage rates, employment numbers and the net migration continuing to occur into our city. Inventory should begin to show up again after the abysmal winter we just had and a more balanced market for inventory will probably be back in the late summer or fall” Says Forsythe.

The average sale price of a single-family home in March 2014 reached a record of $556,402, eclipsing any previous year ever in the City. Average sale prices during the month were up 16.86 per cent from a year ago.

Record prices were March for sales in the city with the average price at $478.157, up 5.35% per cent from last year, and the condominium market exploded in March up 28.11% over the same month in 2013. The good news for condo buyers is the average price was only up about 9% over that time. The Luxury Market in and around Calgary continues to flourish and there doesn’t seem to be a finish line here with our economy and net migration in Alberta.

Previous record prices for total MLS residential sales were set in March of this year at $460,903 for the average and $403,000 for the median. The benchmark price in May was up 6.89 per cent to $409,600.

In April with the snow disappearing we could see some well needed inventory show up in the market. Bye, bye snow and hello Spring. Total CREB MLS sales were 3233 a 20% increase year over year.

Tighter mortgage rules were supposed to curb this activity, Alberta’s economy is so strong that mortgage rates seem to be a footnote.  While the majority of buyers are purchasing single-family homes and condos the Luxury and Country residential Markets are also firing on all cylinders.

All of this information was gathered by Rod from many sources including the Calgary Herald and the Calgary Real estate Board

Have a great day,

Rod Forsythe //Managing Partner // The Forsythe Group  Keller Williams Premiere Realty// Calgary Ab Canada   403.777.1040

 http://www.RodForsythe.com //#1 Keller Williams agent in Alberta since 2010

 

You Win in Life by Helping Others!

 

Leading to downtown Calgary from the north side of the Bow river
Leading to downtown Calgary from the north side of the Bow river

Calgary Real Estate Update for February 2014

CALGARY – Low inventory and cold weather is continuing to drive resale housing prices upward with the city poised to set numerous records from February MLS sales.

Calgary is set to hit new highs for average sale prices and median prices in both the overall city market and in the single-family sector.

According to the Calgary Real Estate Board, from February 1-26, the average MLS sale price for all city sales was $485,085, up 6.94 per cent from a year ago while the median price has jumped by 7.80 per cent to $425,000. Also, the single-family home market has seen the average price soar to $553,077, up 8.16 per cent from a year ago while the median price has risen by 10.98 per cent to $485,000.

We have seen a very active market so far this year. After all low inventory and population growth are going to lead to higher prices. The forecast is for much of the same kind of market until inventory begins to show up. With a very cold winter and no break in temperature this Real Estate Market is perfect to allow your home to sell for Top Dollar.

There is momentum in this market and it will take a little while for the inventory to show up for all of the buyers looking today. As my Granddad always said “sell when everyone is buying and buy when everyone is selling”. It is time to get your home up for sale if you are thinking of selling

Flat out it is a little scary for buyers today, with interest rates at all-time lows, net migration occurring again in Calgary and the average age of a Calgarian being so low, it still looks to be a good time to buy.

According to CREB, the average monthly MLS sale price record for all city sales is $466,466 set in June last year and the median price record of $417,250 was set in January of this year.

For the single-family home market, the average sale price record of $527,634 was established in December of last year as was the median price record of $463,500.

So far this month, total MLS sales of 1,672 in the city are up by 7.59 per cent from the same period last year. New listings have increased by 1.37 per cent to 2,444 but active listings are down 19.24 per cent to 2,850.

Single-family sales have increased by 1.18 per cent to 1,114 but new listings are down by 5.11 per cent to 1,596 and active listings are off by 22.02 per cent to 1,852.

“In an unfortunate metaphor given last summer’s floods, Calgary’s housing demand dam has burst,” said Don Campbell, senior analyst with the Real Estate Investment Network. “Those sitting on the sidelines waiting for a lull, combined with renters who are witnessing dramatic rental increases in key areas of the city, are combining with regular housing demographic requirements to push the demand curve up much more quickly than the available listings.

“This strong seller’s market, in the heart of the winter, has pushed average sale prices up more quickly than would be economically expected. Given this, we should see sellers begin to move into the market to take advantage of this profit opportunity.

Written by mtoneguzzi@calgaryherald.com.Image

Edited by Rod Forsythe Keller Williams Premiere Realty rodcforsythe@gmail.com

Calgary Real Estate update for October 2013

Calgary Alberta Market Report for October 2013

Calgary’s resale housing market continued to soar in October with strong year-over-year hikes in both sales and prices.

According to preliminary data from the Calgary Real Estate Board, MLS sales of 1,953 for the month were up 17.72 per cent from a year ago as the average sale price rose five per cent to $458,876 while the median price saw an increase of 5.96 per cent to $409,000.

“The October Calgary real estate market kept a consistent absorption rate between two to 2.2 months’ worth of inventory. This places us in a strong sellers’ market.

“Attributes of a sellers’ market are, competing offers, listed home selling in the first two weeks or sooner, sellers being able to dictate the terms of the negotiations and not having to settle for much less than realistic asking prices. All consistent with our October experiences.”

Although new listings for the month were up 9.08 per cent to 2,522, active listings at the end of the month were down 16.18 per cent to 3,840.

The average days on the market to sell a property dropped from 45 a year ago to 40 in October.

This Calgary Market is fuelled by a number of factors: seasonal fall peak activities with people wanting to purchase and move into homes before winter sets in; investor speculators coming into the market due to the flood impact in June; corporations reorganizing and centralizing back to Calgary and Edmonton; and rental rates increasing.

Buyers have to react to this market by acting quickly when homes came available for sale, being prepared to pay Top Dollar  or above..

Sales and prices were up across all housing categories in the city during the month.

In the single-family home market, there were 1,336 MLS sales, up 14.29 per cent from last year with the average sale price increasing by 4.76 per cent to $516,244 and the median price rising by 5.12 per cent to $452,000.

The condo apartment category saw sales rise by 24.35 per cent to 337. The average sale price was up 6.76 per cent to $309,414 and the median price rose by 8.80 per cent to $272,000.

In the condo townhouse market, sales of 280 were up 27.85 per cent with the average price rising by 13.49 per cent to $365,036 and the median price up by 8.29 per cent to $319,450.

The towns surrounding Calgary saw sales jump by 23.64 per cent to 387 with the average price increasing by 13.51 per cent to $390,580 and the median price up 8.11 per cent to $360,000.mtoneguzzi@calgaryherald.com  information provided by the Calgary Herald

http://www.rodforsythe.com/free_market_evaluation.phpImagealgary

July 2013 Calgary Luxury home update

After reviewing all of the sales above $800,000 there has been a significant rise in Luxury Home sales in the Calgary area year over year 2012-2013. When looking at the history of Calgary these sale numbers rival and exceed 2006 and 2007 unit sales numbers. An interesting note is 4 properties over $4,000,000 sold last month. With a good supply of inventory above $800,000 this could be a great time to get into a Luxury home in Calgary.

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Rod Forsythe

Managing Partner // The Forsythe Group // Keller Williams // Calgary Ab Canada

403.777.1040 //  www.RodForsythe.com

You Win in Life by Helping Others!

Know of anyone looking to Sell, Buy, Invest?  Let me know I can help…

Calgary Real Estate update for April 2013 by Rod Forsythe

Rod Forsythe’s Calgary Real Estate market Update for April 2013

Calgary’s residential real estate market was more seller focused this March with 20% fewer listings available than in of March 2012. A lack of inventory tends to create a busier looking market than it actually is. Market conditions are a far cry from activity witnessed throughout the frenzy in 2006 and 2007, in fact unit sales in Calgary are still trending under the 10 year average. Homes under $500,000 are in limited supply and with the Spring in full bloom people just need to be a little patient for new listings to show up. The Luxury market in Calgary has had a hand in price increases; the plus $800,000 market is up in unit sales by a staggering 28% over this time last year. In Calgary with the snow finally leaving the ground the Spring inventory will continue to increase. April has already seen a 14% increase in new listings compared to last April. Average price increase year over year in the total Calgary real Estate Market stands at a 6.09% increase over the 2012 average price.
Rod Forsythe
Managing Partner // The Forsythe Group

Keller Williams // Calgary Ab Canada 403.777.1040

rodcforsythe@gmail.com // http://www.RodForsythe.com

#1 Keller Williams agent in Alberta 2010, 2011 & 2012. #9 Keller Williams agent in Canada 2012

You Win in Life by Helping Others!

Know of anyone looking to Sell, Buy, Invest? Let me know I can help…

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