- Joined
- Oct 24, 2007
- Messages
- 2,289
From CREB President Bonnie Wegerich:
"“Calgary’s housing prices are edging upwards as consumer confidence improves and demand continues to grow,"
And again
"We might see a gradual edging up in average prices come this fall, but on the whole, prices will most likely remain relatively stable. With our inventory at just under a four-month supply, the market continues to be in balance,”"
And again
"We are seeing an upward revision of our housing market forecasts at the national level,” says Wegerich. “I think it is fair to say the recovery in the market has been a little brisker then first expected—and all signs indicate the rebound, all be it gradual, will have some longevity.
My thoughts:
We have seen healthier sales numbers in the past few months - albeit seasonal- but it is still nice to see them. The listings are down significantly relative to this time last year (8835 in Aug 2009 vs 12673 in Aug 2008) This has helped to keep prices stable as buyers have a little less supply to choose from.
However, the sellers that could not sell late last year are putting their properties back on the market at better prices. We are seeing properties come on the market to replace those that are sold and we continue to be in a balanced market scenario. The true telling sign of a full recovery will be if we see home construction (and sales) numbers increase in conjunction with the residential sales staying strong. There is still a reasonable amount of sentiment that we have not fully absorbed the "overbuilding" that occured in the last half of 2007 and early 2008.
Regarding investment property: Not that much on the market right now! My investor clients have struggled to find good product at reasonable prices and my sales in that market range have slowed this month. However many landlords take the summer off and then make their moves in the fall so I expect sales to increase in this respect later this year.
Northwest LRT
Ranchlands Single Family Home August 09
Ranchlands Condominium August 09
Silver Springs Single Family Home August 09
Silver Springs Condominium August 09
Dalhousie Single Family Home August 09
Dalhousie Condominium August 09
Brentwood Single Family Home August 09
Varsity Single Family Home August 09
Varsity Acres Condominium August 09
Varsity Village Condominium August 09
West LRT
Glendale Single Family Home August 09
Rosscarrock Single Family Home August 09
Shaganappi Single Family Home August 09
Westgate Single Family Home August 09
Spruce Cliff Single Family Home August 09
Spruce Cliff Condominium August 09
Overall Calgary Market
Citywide Sales Stats - last 24 months - Current to August 2009
"“Calgary’s housing prices are edging upwards as consumer confidence improves and demand continues to grow,"
And again
"We might see a gradual edging up in average prices come this fall, but on the whole, prices will most likely remain relatively stable. With our inventory at just under a four-month supply, the market continues to be in balance,”"
And again
"We are seeing an upward revision of our housing market forecasts at the national level,” says Wegerich. “I think it is fair to say the recovery in the market has been a little brisker then first expected—and all signs indicate the rebound, all be it gradual, will have some longevity.
My thoughts:
We have seen healthier sales numbers in the past few months - albeit seasonal- but it is still nice to see them. The listings are down significantly relative to this time last year (8835 in Aug 2009 vs 12673 in Aug 2008) This has helped to keep prices stable as buyers have a little less supply to choose from.
However, the sellers that could not sell late last year are putting their properties back on the market at better prices. We are seeing properties come on the market to replace those that are sold and we continue to be in a balanced market scenario. The true telling sign of a full recovery will be if we see home construction (and sales) numbers increase in conjunction with the residential sales staying strong. There is still a reasonable amount of sentiment that we have not fully absorbed the "overbuilding" that occured in the last half of 2007 and early 2008.
Regarding investment property: Not that much on the market right now! My investor clients have struggled to find good product at reasonable prices and my sales in that market range have slowed this month. However many landlords take the summer off and then make their moves in the fall so I expect sales to increase in this respect later this year.
Northwest LRT
Ranchlands Single Family Home August 09
Ranchlands Condominium August 09
Silver Springs Single Family Home August 09
Silver Springs Condominium August 09
Dalhousie Single Family Home August 09
Dalhousie Condominium August 09
Brentwood Single Family Home August 09
Varsity Single Family Home August 09
Varsity Acres Condominium August 09
Varsity Village Condominium August 09
West LRT
Glendale Single Family Home August 09
Rosscarrock Single Family Home August 09
Shaganappi Single Family Home August 09
Westgate Single Family Home August 09
Spruce Cliff Single Family Home August 09
Spruce Cliff Condominium August 09
Overall Calgary Market
Citywide Sales Stats - last 24 months - Current to August 2009