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CALGARY CENOTAPH
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HOW TO A8
GREEN LIVING A11
STAGING FOR CALGARY’S LEADING REALTORS® 403.651.3462
metamorphosisdesign@shaw.ca See STAGING on page A10
HERITAGE A14
FREE nov 11 to nov 17 2011 issue 01-43 www.creb.com
CMHC fall outlook predicts MLS® transactions, starts to increase in coming year
2011, MLS® sales in Calgary numbered 16,107, a 5.5 per cent increase from the same period in 2010. CMHC is predicting the final sales tally for the year to come in at 22,200, a 5.7 per cent improvement over last year when sales numbered 20,996. “Calgary has been rebuilding a foundation for stable growth,” said Sano Stante, president of CREB®. “As the economy and in-migration pick up over the next twelve months we anticipate this balance may gradually shift to more of a seller’s advantage if listings and inventory do not keep pace with the demand.” Prompted by a booming energy sector, net-migration to Calgary is forecast to rise nearly 40 per cent in 2011,
According to the Canada Mortgage and Housing Corporation’s (CMHC) Fall 2011 Calgary Housing Market Outlook, demand for housing is expected to rise in 2012 as the economy expands, creating jobs and attracting more people to the region, with MLS® sales in 2012 anticipated to rise 2.3 per cent to 22,700 units. Through the first eight months of
CODY STUART
managing editor
S
purred by growth in full-time employment, low mortgage rates and rising in-migration, demand for Calgary real estate is set to increase in 2012.
SINGLE FAMILY
$455,399
$455,849
$453,969
$466,167
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$489,482 $479,575 $462,947
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$455,460 $444,744
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$483,240 $460,378
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$481,964
NEWS BRIEFS
A3
INDUSTRY
A6
RE/MAX housing evolution report
MORTGAGE RATES
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he estimated construction value of building permit applications for the month of October 2011, $317.8 million, is up 73 per cent compared to October 2010 ($184 million), down 15 per cent compared to the five-year average (October 2007-2011; $375 million) and down two per cent compared to the ten-year average (October 2002 to 2011; $326 million).
MARKET A3
A10
BUSINESS DIRECTORY A10 COMMERCIAL A13 Urban Design Awards
POP THE QUESTION
A14
Calgary Fire Dept’s Brian McAsey
MAP
B1
OPEN HOUSES
B15
> Builders Dream Lot RARE OPPORTUNITY! Huge lot in the desired community of Rosedale, a wonderful place to live and a fantastic opportunity for development! This impressive 50'x120' R-C1 lot (557 m2, 6,000 ft2) offers a west facing, sunny backyard. Without doubt one of Rosedale's most sought after locations, this is a must have property. Backing onto Rosedale Park, this property is nestled among million-dollar homes on one of the most desirable streets in the community. This truly unique, character home is only ½ block to the ridge where you find panoramic downtown and river valley views. MLS ® C3497881 1119 7A St NW l
CONTENTS
CREB® STAFF
OCT09 NOV09 DEC09 JAN10 FEB10 MAR10 APR10 MAY10 JUN10 JUL10 AUG10 SEP10 OCT10 NOV10 DEC10 JAN11 FEB11 MAR11 APR11 MAY11 JUN11 JUL11 AUG11 SEP11 OCT11
INDUSTRY A3
CALGARY BUILDING PERMITS UP IN OCTOBER
MLS® AVERAGE PRICE* OCT ‘09 – OCT ‘11
*All statistics based on monthly data compiled by CREB® via MLS® activity.
adding 15,500 migrants to the city’s population, with a further 9.7 per cent increase (17,000) expected in 2012. Employment in the city, also largely dependent on the state of the oil and gas industry, has made enormous strides, adding 25,700 jobs over the last year. Low mortgage rates, an obvious contributor to Calgary’s rather healthy housing outlook, show no signs of letting up with the Bank of Canada expected to maintain the current overnight lending rate of one per cent for some time. The last increase in the overnight interest rate came on September 8, 2010.
$980,000
www.sanostante.com
403.289.3435