WALK THE LINE
AFFORDABLE HOMES CLEANING HOUSE
Finding a balance Lions Village seniors between quirk & clutter facility underway DESIGN A6
Green Calgary helps create healthy homes
PROVINCIAL A10
NO SPACE? NO PROBLEM Garden oasis an option for Calgary apartment and condo-dwellers
GREEN LIVING A12
HOW TO B20
FREE jul 29 to aug 4 2011 issue 01-28 www.creb.com
CONDO
COMEBACK Calgary’s multi-family market showing signs of life CODY STUART
managing editor
W
ith sales increasing and several major projects breaking ground, resuming construction or moving into the sales phase, Calgary’s once sluggish condo market is showing serious signs of recovery. Although year-to-date sales in the sector have shown a five per cent decline compared to last year, the latest numbers from CREB® indicate that transactions in June improved by nearly a third (31%) compared to June of last year, marking the first time since April 2010 that condominium sales have recorded a year-over-year increase. “It has been a slow rebuilding of our market and a cycle that we expect to normally occur - the market was overbuilt a couple years ago which stalled new starts over the past couple years,” said CREB® President Sano Stante. “With still low interest rates and prices corrected to more affordable levels, buyers now view this as an opportunity to enter the market and sales have remained reasonably healthy. With inventory declining and sales at normal levels we now have a more balanced market.”
CODY STUART, CREB® Staff
SINGLE FAMILY 1585
1837
MLS® NUMBER OF UNITS SOLD* JUN ‘09 – JUN ‘11
$419,900
35+ adult villa living with no condo fees in Bridle Estates. Open plan, soft corners, 9’ ceilings, ceramic tile, concrete roof tiles, composite deck, veranda and much more!! Excellent location, close to all amenities! Pride of ownership! MLS®C3484878
For more details call the The “Home Hunters”
Grant
ANOTHER POSITIVE FORECAST FOR ALBERTA HOUSING
& Steve Hunter 403-278-9208
SUTTON GROUP CANWEST VISTA • WWW . THEHOMEHUNTERS . COM
CONTENTS NEWS BRIEFS
A3
EVENT LISTING
A6
TEST YOUR KNOWLEDGE A8
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1355 791
734
891
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867
915 762
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1396 1035
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MAY09 JUN09 JUL09 AUG09 SEP09 OCT09 NOV09 DEC09 JAN10 FEB10 MAR10 APR10 MAY10 JUN10 JUL10 AUG10 SEP10 OCT10 NOV10 DEC10 JAN11 FEB11 MAR11 APR11 MAY11
BETTER THAN NEW!
CONDOS A3
In addition to the interest being shown by Calgary condo buyers, developers have also been keen to jump on board, with multi-family starts rising from 154 units in June 2010 to 269 units in June 2011.
CREB® STAFF
*All statistics based on monthly data compiled by CREB® via MLS® activity.
According to Richard Cho, Canada Mortgage and Housing Corporation’s (CMHC) senior market analyst for Calgary, Alberta’s flourishing economy provides plenty of reasons for the resurgence being seen in the city’s condo sector. “There are a number of positives that we’re taking from the economy,” said Cho. “I think the outlook for the economy has been positive, With the price of oil up, that certainly boosts the activity in the energy sector, which is creating jobs for Albertans and creating jobs for Calgarians, especially in some of the fields that support the energy sector. In-migration has also been improving, and the employment prospects for our region are certainly positive, which is attracting people [to Calgary] as well. So with that, we’re seeing improvements in the demand for housing.” That demand has been evident at several local developments, with many new condo projects being met with enthusiastic buyers. Brisk sales have reported at many recent developments, including the 95-unit St. John’s project in Kensington, and at NEXT, a 132-unit condo development in Bridgeland.
Affordable housing
T
he Canadian home resale market is continuing to head towards a moderate pace, according to a report from RBC Economics, following almost a decade of extensive growth. While the nation-wide market will show signs of more sustainable activity, Alberta is forecasted to post the strongest growth in existing home sales this year and next, said the recently released Canadian Housing Forecast Update.
MARKET A3
MORTGAGE RATES
A10
BUSINESS DIRECTORY A10 IN THE PROVINCE
A12
City growth
MAP
B1
OPEN HOUSES
B19
WILLOW BROOK, AIRDRIE $399,900 Welcome to one of those homes where pride of ownership is obvious. This wonderful 2 storey boasts over 1700 sq. ft. not including the fully finished basement, which is located on a cul-de-sac (pie-shaped lot). Some of the upgrades over the years include shaker maple cabinets, granite countertops, tile floors, hickory floors, new shingles and central air conditioning. All bathrooms have granite countertops, the basement bathroom has slate and infloor heat. All this and more for under 400K. MLS®C3483449
ERIC DENNIS 403.589.5121 eric.dennis@shaw.ca