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Airdrie, Okotoks and Cochrane post double-digit sales growth

Wed, 15 Oct by Bryon Howard

Housing activity is on the rise in Calgary’s surrounding areas with double-digit sales growth in Airdrie, Okotoks and Cochrane by the end of the third quarter. Year-to-date, 4,449 units were sold in all surrounding areas, which represents a 26 per cent increase over the previous year.

“After the first three quarters of the year, sales activity continues to climb at a good pace in surrounding communities,” says CREB® president Bill Kirk. “Many of these areas offer a lifestyle choice that appeals to consumers, with home prices that are generally more affordable.”

Overall benchmark prices and year-over-year growth has been higher in Calgary compared to the overall surrounding areas. In the third quarter, typical single-family home prices in Airdrie, Cochrane and Okotoks were 32, 15 and 18 per cent lower, respectively than in Calgary.

“Low interest rates, rising wages, positive net migration and tight market conditions in Calgary continue to support the demand growth in the regional resale housing market this year,” says CREB® chief economist Ann-Marie Lurie. “As supply levels for homes priced under $400,000 in the single-family market have declined in the city of Calgary, many consumers are considering their options in surrounding areas.”

Sales growth in Airdrie is on pace for a record year after the city posted its best third quarter ever. Sale activity totaled 455 units between July and September, a 16 per cent jump relative to last year. Year-to-date sales have increased by 28 per cent to 1,354 units.

While sales in Okotoks declined by six per cent in the third quarter to 198 units, year-to-date activity remains 15 per cent above the first three quarters of last year. This quarter’s decline can largely be attributed to record levels reported during the same period last year.

New listings increased in Okotoks by 12 per cent to 246 units during the quarter. This helped to ease market tightness and price growth compared to the second quarter of this year. The single-family benchmark price in the third quarter averaged $417,967, a 0.3 per cent increase from the previous quarter and a 7.46 per cent year-over-year increase.

Cochrane sales continue to outpace gains in new listings, pushing inventory levels and months of supply down. Reduced inventory has supported price gains in Cochrane. Single-family average benchmark prices totaled $433,933 in the third quarter, a 2.87 per cent increase over the previous quarter and 6.9 per cent increase relative to the same period last year.

Managing Your Expectations as a First Time Buyer

Sun, 12 Oct by Bryon Howard

Managing Your Expectations as a First Time Buyer

Buying your first home is an exciting process.  You’ve probably worked hard and made lots of smart decisions to get you closer to your goal of becoming a homeowner.  More so than any other purchase, it’s important to educate yourself in several areas and set realistic expectations.

Understand the current market conditions.  The real estate market is always changing.  Sometimes it favours buyers, sometimes it favours sellers.  It can be affected by a variety of factors including interest rates, available inventory, consumer confidence, and even the weather.  You need to work with a local real estate professional who understands the market in your area.  This will equip you to make the right decisions and negotiate wisely when purchasing your first home.

Sit down with a mortgage professional.  It’s easy to get caught up in the purchase price of a home, but the monthly payments are what will really have an impact on your budget.  A mortgage professional will take the time to help you figure out exactly how much you will need to put aside for your down payment, what kind of interest rate you can expect, and how much your new home will cost you on a monthly basis.

Research how far your money will go and consider the various housing options within your budget.  Although you may have a particular type of house or neighbourhood in mind, you might be pleasantly surprised if you step outside your comfort zone.  Take the time to see properties in person, think about your long term goals, and weigh out the pros and cons of whatever is available in your price range.

Don’t bite off more than you can chew.  If you are looking at homes that need some TLC, bring someone along who can help you understand the scope of the project.  Renovations can be a profitable investment in the right areas, but you need to do some homework ahead of time to make sure it’s worth your time and effort.  With a little research and the help of the right professionals, buying your first home will be an exciting and rewarding experience.

Are  you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.

About Bryon Howard

Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.

September 2014 Calgary Real Estate Market Report

Thu, 02 Oct by Bryon Howard

Block Of Flats - Apartment Building

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.

For the fifth consecutive month, year-over-year condominium apartment sales growth outpaced growth in the single-family sector. Year-to-date condominium apartment sales totaled 3,819, a 21 per cent increase over last year. This compares with a seven per cent increase to 13,842 units in the single-family market over the same time frame. Added supply in the condominium apartment sector, meanwhile, is providing more choices. New listings increased by 48 per cent in September over last year and nearly five per cent over last month, further improving inventory levels and pushing this market into balanced territory.

In the condominium townhouse market, sales and listings continued its year-to date trend, rising 20 and 21 per cent, respectively, compared to the same period a year ago. Over the first three quarters, 3,002 units have exchanged hands, relative to the 4,011 new listings. Despite an increase in new listings, the condominium townhouse market continues to be relatively tight, with absorption rates remaining below two months.

“While overall supply levels have improved, the condominium townhouse sector continues to reflect the tightest market conditions in Calgary,” said CREB® president Bill Kirk. New listings in the single-family market similarly increased in September, helping to improve inventory levels above two months. A total of 2,148 units entered the market during the month, a jump of nearly nine per cent compared to the same period last year.

“While conditions are now more balanced, the composition of the single-family market has changed,” said Lurie. “One-quarter of year-to-date sales in the sector has been for product priced below $400,000. Last year, it represented 35 per cent of the market share. Two years ago, it accounted for 44 per cent of all single-family sales.”

The single-family benchmark price topped $512,800 in September, similar to August, but a 10.6 per cent increase year-over-year. Condominium apartment and townhouse benchmark prices grew to a respective $298,800 and $330,200, reflecting gains of more than 9.5 per cent relative to last year.

“Calgary’s housing market throughout the spring favoured the seller, resulting in higher-than-expected price gains,” said Kirk. “Now, a more balanced market is relaxing some of that upward pressure on home prices, and prices are leveling off relative to the previous month. Year-over-year, however, gains are still in the double-digit range.”

Recent price gains have encouraged listings growth and, ultimately, supply in all sectors, said Lurie. “However, citywide inventory levels continue to remain below historical norms, and current demand levels continue to point toward healthy absorption rates,” she said.

Download the full market report here

 

Are  you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.

About Bryon Howard

Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.

Officially Introducing Shirley to the Howard Team

Thu, 02 Oct by Bryon Howard

Shirley Wright

I would like to take the opportunity to introduce one of the newest members of the Howard Team.  For some of you, she might be a familiar face.  I’m pleased to announce that my wife, Shirley, has made the move into real estate.  Shirley acquired her real estate license at the beginning of this year, and some of our buyers and sellers have already had the chance to work with her.

Coming from a background in music and education, Shirley is passionate about teaching our clients everything they need to know about their real estate transaction.  After graduating from McGill University with a Music Degree and then doing an Education Degree at the University of Prince Edward Island, music has been at the heart of Shirley’s teaching career.  She has been teaching music for 22 years and over the last 10 years, she has been employed by the Calgary Board of Education.  Shirley is an accomplished cellist and performs with the Calgary Civic Orchestra.  She has shared her love of music with countless students and also provides cello lessons at a private music school.  To add to her list of accomplishments, Shirley is also bilingual.

For many people, buying or selling a home is a learning experience.  Even though our clients hire us to represent their best interest in the transaction, they still want to have a strong sense of awareness each step of the way.  After all, buying a home is one of the most important decisions that you make in your life.  Shirley prides herself in providing exceptional customer service, and will take the time to answer all of your real estate questions.

As always, we appreciate your business and your referrals.  Shirley and I look forward to assisting you with your real estate needs.  Have questions about selling your home?  Thinking about making a move in the near future?  Don’t hesitate to get in touch.

Are  you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.

 

About Bryon Howard

Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Calgary Real Estate Board. 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.