Page 1

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

Dec 2010

1,318

744

891

734

Average price

455,460

441,341

Median price

399,900

389,000

52

43

Number of New Listings Number of sales

Average days on market

Nov 2010

Dec 2010

Number of New Listings

632

369

Number of sales

310

320

Average price

284,667

282,768

Median price

253,300

258,500

57

48

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

Jan 2011 Newsletter  

Calgary Real Estate Market monthly update

Read more
Read more
Similar to
Popular now
Just for you