January 5, 2011 Dear Friend, Welcome to 2011! I hope you had a great Christmas break with families and friends; and are gradually recovering from the holidays. I’d like to share a quote with those of you who never make new year’s resolution just like me. I made no resolutions for the New Year. The habit of making plans, of criticizing, sanctioning and molding my life, is too much of a daily event for me. I didn’t make this up, it was from a rather famous writer. So let’s just live, love, laugh and labor, and make sure by the time we say good-bye to 2011, we had made it a happy year.
CREB December Stats - Low Interest Rates and Affordability to Support Housing Recovery in 2011 December home sales in Calgary didn’t have a huge change from November. However, look at the Number of New Listings in December for both single family and condo – they both are significantly less than November. So sellers had a little bit of an easy time selling in December. Single family homes
Condominium Nov 2010
Number of New Listings Number of sales
Average days on market
Number of New Listings
Number of sales
Average days on market
Year 2010 is going down in Calgary’s real estate history as the worst year since 1995, with only 12,095 total sales. Hopefully it will only go upwards from here. Housing will always be a necessity in good times or bad. With the improvement of investment and employment in the energy sector, supported by the affordability and low interest rates, housing market recovery will be in the store for us in 2011!
Don’t keep me a secret Refer a client
And get rewarded
MLS Absorption Rate
Where is the market going from here? Gazing into my little crystal ball, I see… New listings will start coming to the market in January, with numbers twice as much as that of in December, and they’ll keep coming, peak in the spring months. There will be more activities, but sales might not be catching up right away, so we might see this absorption rate chart tipping up a little bit in a couple of months following.
December total MLS inventory: 7189 November total MLS sell: 1286 Absorption Rate: 5.59 (1 in every 5.59 listings got sold)
If you’re planning to sell your house this year, get busy! Call me for a current market statistic, know your market…what you do now could boost your property’s value by thousands of dollars.
Remember this Dream Starter Home I listed last month? Well it is SOLD In 30 days For 95% of the original listing price!
Hong Wang Realtor Certified Condominium Specialist Greater Calgary Real Estate Services Inc 403-397-6809 www.hongwang.ca www.24HourHousePrices.com/askhong
Calgary Real Estate Market monthly update