Please visit our Open House at 162 CHAPALINA RI SE in Calgary.
Open House on Sunday, August 19, 2018 1:00PM - 3:00PM
Great LOCATION on one of the most family friendly streets in Lake Chaparral. This immaculate home, with over 3000 sqft of living space, shows true pride of ownership and will not disappoint. Bright open-concept layout features front office, living room with gas fireplace and a designer kitchen with flat island, stainless steel gas stove, and granite counters and backsplash. Convenient walk thru pantry leads to the laundry/mud room. Dining area has patio doors leading out to a low maintenance garden oasis perfect for entertaining with large patio stone areas and beautiful pergola. Upstairs features a private bonus room with vaulted ceiling, 2 large bedrooms (one with a walk-in closet), and main 4 piece bath. Double doors lead to a spacious master bedroom retreat with sitting area, separate walk in closet, and ensuite. Lower level is optimally laid out with large rec area, 2 additional bedrooms and 4 piece bathroom. A great home to raise a family in a great community with schools, parks and lake access.
Read full post

Patience required in Calgary’s housing market recovery


City of Calgary, August 1, 2018 –


Recent struggles in the job market, accompanied by yet another interest rate increase, is piling on to the decisions potential purchasers have to make in the housing market.

The month of July saw 1,547 units sold in Calgary, nearly five per cent below last year. New listings eased to 2,964 units, causing inventories to total 8,450 units. With more supply than demand, prices continued to edge down, with a citywide average of $435,200. This amounted to a month-over-month price decline of 0.30 per cent and year-over-year decline of 1.89 per cent.

"Despite some positive momentum in some aspects of our economy, our job market has continued to struggle as of late, with some easing in total employment levels over the past few months and persistently high unemployment rates," said CREB® chief economist Ann-Marie Lurie.

"Also, the Bank of Canada raised rates again in July. Rising costs, combined with a slow recovery, are weighing on the demand for resale homes in the city. At the same time supply remains high and is resulting in an oversupplied market."

Citywide months of supply have risen for each property type and currently range from nearly five months in the detached sector to seven months in the apartment sector. These elevated levels have been placing pressure on prices in the city.

Detached benchmark home prices totaled $501,300 in July, down 0.4 per cent from last month and over two per cent from last year's levels. Year-to-date average benchmark prices in the detached sector remain just below levels recorded last year.

The apartment ownership sector continues to see the steepest declines, with year-to-date benchmark prices averaging $257,343, three per cent below last year and nearly 14 per cent below 2014 highs.

"In a buyers' market, it's critical for all parties to have the most up-to-date information to make a fully informed decision, whether you are buying or selling," said CREB® president Tom Westcott.

"A REALTOR® can help make an accurate determination on how much to sell a home for or how much is too much when purchasing one."


HOUSING MARKET FACTS


Detached

  • Oversupply issues continue to worsen in each district of the city compared to last year. However, compared to historical conditions, conditions today remain better than in 2016 in both the West and City Centre districts.

  • Year-to-date, the West and City Centre areas have recorded prices higher than last year's levels and continue to edge towards price recovery. Benchmark prices in the West have averaged $733,329 this year, comparable to previous highs.

  • City Centre benchmark prices have averaged $693,243, nearly three per cent below previous highs. Most districts have recorded detached prices that remain over four per cent below previous highs.


Apartment

  • Easing new listings in the apartment condominium sector have prevented any further gains in the amount of inventory in the market.

  • Supply levels remain elevated compared to sales, keeping year-to-date prices three per cent below last year's levels and nearly 14 per cent below previous highs.

  • Citywide inventory levels remain just below last year. July inventories edged down in the North East, North, North West, South and East areas of the city compared to the previous year.

  • Levels remain elevated by historical standards, but any reductions in inventory can help reduce oversupply.


Attached

  • Like the other sectors, attached sales have been easing this year, with 2,225 sales this year representing a 15 per cent decline over the previous year.

  • Gains in new listings pushed up inventory levels and months of supply compared to last year.

  • Citywide year-to-date semi-detached prices have eased by nearly one per cent compared to last year. Benchmark price changes have ranged from a three per cent decline in the North West district to a six per cent increase in the South district. Despite the annual gain this year in the South district, semi-detached prices remain nearly five per cent lower than that district's peak.

  • Year-to-date benchmark row prices have increased on a citywide basis due to gains in the City Centre, North and North West districts. The annual gain is a positive move towards recovery, but row prices remain well below previous highs in every district of the city.

 
 

REGIONAL MARKET FACTS


Airdrie

  • 2018 Airdrie residential sales have totalled 732 units so far, which is 11 per cent lower than the same period last year. Sales are at the lowest level when compared to the same period in the past six years.

  • Year-to-date new listings remain just above last year's levels, totalling 1,600 units and reaching a new peak when compared to the same period in previous years. Total inventories in Airdrie have averaged 544 units this year, approximately 100 units higher than the same period in 2017.

  • The rise in inventory, combined with easing sales, has caused months of supply to average over 5.2 months for the year, impacting prices.

  • Detached benchmark prices have averaged $372,386 so far this year. This is 1.29 per cent lower than in 2017.


Cochrane

  • Year-to-date residential sales in Cochrane totalled 380 units. Compared to the same period in 2017, this number has declined compared to last year. However, total sales continue to be above long-term averages and levels during 2015-16.

  • New listings are also at historical highs and have reached a new peak of 862 residential units. This has pushed year-to-date average inventory levels up to monthly levels of 390 units and causing months of supply to average six months for this year.

  • Despite gains in supply on the market, detached benchmark prices in Cochrane remain relatively stable. Year-to-date detached prices averaged $425,714, just above last year but still nearly four per cent below peak levels.


Okotoks

  • Total residential sales in Okotoks have totalled 320 units so far in 2018. A decline over the previous year and below long-term trends.

  • New listings remain elevated and comparable to periods in previous years. This has kept inventories at near-record levels, with year-to-date average levels being totalling 248 units.

  • Months of supply have averaged 5.4 months this year, higher than historical standards. However, the elevated levels have not prevented prices from starting to recovery.Overall, year-to-date detached benchmark prices have averaged $436,786 this year, just above last year but nearly three per cent below peak levels.

 
 

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.




Read full post
Categories:   Acadia, Calgary Real Estate | Airdrie, Airdrie Real Estate | Altadore River Park, Calgary Real Estate | Applewood Park, Calgary Real Estate | Applewood, Calgary Real Estate | Auburn Bay, Calgary Real Estate | Banff Trail, Calgary Real Estate | Bankview, Calgary Real Estate | Beddington, Calgary Real Estate | Beltline, Calgary Real Estate | Braeside Braesde Est, Calgary Real Estate | Braeside_Braesde Est, Calgary Real Estate | Bragg Creek, Bragg Creek Real Estate | Bridlewood, Calgary Real Estate | Buying | Buying a Home | Buying a Secondary Suite Home | Buying Your First Home | Calgary, Calgary Real Estate | Canyon Meadows, Calgary Real Estate | Capitol Hill, Calgary Real Estate | Castleridge, Calgary Real Estate | Cedarbrae, Calgary Real Estate | Chaparral, Calgary Real Estate | Chestermere, Chestermere Real Estate | Christie Park Estate, Calgary Real Estate | Christie Park, Calgary Real Estate | Citadel, Calgary Real Estate | Coach Hill, Calgary Real Estate | Cochrane, Cochrane Real Estate | Connaught, Calgary Real Estate | Copperfield, Calgary Real Estate | Coral Springs, Calgary Real Estate | Cougar Ridge, Calgary Real Estate | Coventry Hills, Calgary Real Estate | Cranston, Calgary Real Estate | Crescent Heights, Calgary Real Estate | Crossfield, Crossfield Real Estate | De Winton, De Winton Real Estate | Deer Ridge, Calgary Real Estate | Discovery Ridge, Calgary Real Estate | Douglas Rdg Dglsdale, Calgary Real Estate | Douglas Rdg_Dglsdale, Calgary Real Estate | Douglasdale Estates, Calgary Real Estate | Douglasdale/Glen, Calgary Real Estate | Douglasglen, Calgary Real Estate | Dover, Calgary Real Estate | Downsizing Your Home | Downtown West End, Calgary Real Estate | Downtown, Calgary Real Estate | Eastlake Industrial Centre, Calgary Real Estate | Eau Claire, Calgary Real Estate | Erinwoods, Calgary Real Estate | Erlton, Calgary Real Estate | Evergreen, Calgary Real Estate | Falconridge, Calgary Real Estate | Foothills Ind Pk S, Calgary Real Estate | For the first time since December 2014, Calgary’s residential unadjusted benchmark prices improved over the previous month. | Forest Lawn, Calgary Real Estate | Garrison Woods, Calgary Real Estate | Glamorgan, Calgary Real Estate | Glendle Glendle Mdws, Calgary Real Estate | Haysboro, Calgary Real Estate | Heritage Pointe, Heritage Pointe Real Estate | Hidden Valley, Calgary Real Estate | Home Buying | Home Staging | Improved sales to new listings ratio reduces inventory gains | info | infographic | Inforgraphic | Kelvin Grove, Calgary Real Estate | Kincora, Calgary Real Estate | Kingsland, Calgary Real Estate | Lake Bonavista, Calgary Real Estate | Lakeview, Calgary Real Estate | Langdon, Langdon Real Estate | Lincoln Park, Calgary Real Estate | Lower Mount Royal, Calgary Real Estate | Mahogany, Calgary Real Estate | Maple Ridge, Calgary Real Estate | Market | Market U | Market Updates | Marlborough Park, Calgary Real Estate | Marlborough, Calgary Real Estate | Martindale, Calgary Real Estate | Mayland Heights, Calgary Real Estate | McKenzie Lake, Calgary Real Estate | McKenzie Towne, Calgary Real Estate | Midnapore, Calgary Real Estate | Millrise, Calgary Real Estate | Mission, Calgary Real Estate | Montgomery, Calgary Real Estate | Nanton, Nanton Real Estate | New Brighton, Calgary Real Estate | North Glenmore, Calgary Real Estate | Oakridge, Calgary Real Estate | Ogden Lynnwd Millcan, Calgary Real Estate | Ogden, Calgary Real Estate | Okotoks, Okotoks Real Estate | Panorama Hills, Calgary Real Estate | Parkhill Stanley Prk, Calgary Real Estate | Patterson, Calgary Real Estate | Penbrooke, Calgary Real Estate | Prominence Patterson, Calgary Real Estate | Pump Hill, Calgary Real Estate | Queensland, Calgary Real Estate | Radisson Heights, Calgary Real Estate | Ranchlands Estates, Calgary Real Estate | Real Estate Updates & Insights | Redcarpet Mountview, Calgary Real Estate | Renfrew, Calgary Real Estate | Richmond Park Knobhl, Calgary Real Estate | Riverbend, Calgary Real Estate | Royal Oak, Calgary Real Estate | Rundle, Calgary Real Estate | Rural Foothills M.D., Rural Foothills M.D. Real Estate | Rural Rocky View MD, Rural Rocky View County Real Estate | Rural Rocky View MD, Rural Rocky View MD Real Estate | Rural Rocky View MD, Rural Rockyview County Real Estate | Saddle Ridge, Calgary Real Estate | Saddleridge, Calgary Real Estate | Scarboro, Calgary Real Estate | Selling | Selling Advice | Selling Advice & Tips | Selling Your Home | Selling Your Home Tips | Shawnee Slps Evergreen Est, Calgary Real Estate | Shawnee Slps_Evergreen Est, Calgary Real Estate | Shawnessy, Calgary Real Estate | Sherwood Calgary, Calgary Real Estate | Signl Hll Sienna Hll, Calgary Real Estate | Signl Hll_Sienna Hll, Calgary Real Estate | Silverado, Calgary Real Estate | Skyview Ranch, Calgary Real Estate | Somerset, Calgary Real Estate | South Calgary, Calgary Real Estate | South Foothills, Calgary Real Estate | Southwood, Calgary Real Estate | Springbank Hill, Calgary Real Estate | Spruce Cliff, Calgary Real Estate | Strathcona Park, Calgary Real Estate | Sundance, Calgary Real Estate | Sundre, Sundre Real Estate | Sunnyside, Calgary Real Estate | Taradale, Calgary Real Estate | Temple, Calgary Real Estate | Tips from Travis | Tuscany, Calgary Real Estate | Tuxedo, Calgary Real Estate | Upper Mount Royal, Calgary Real Estate | Valley Ridge, Calgary Real Estate | Varsity, Calgary Real Estate | Victoria Park, Calgary Real Estate | Walden, Calgary Real Estate | West Hillhurst, Calgary Real Estate | West Springs, Calgary Real Estate | Whitehorn, Calgary Real Estate | Windsor Park, Calgary Real Estate | Winston Heights/Mountview, Calgary Real Estate | Winston Heights_Mountview, Calgary Real Estate | Woodbine, Calgary Real Estate | Woodlands, Calgary Real Estate
Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
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.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.