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Feb 7, 2010

Dear friend, Happy Year Of Rabbit! My family had a great time celebrating it with a group of friends. For those of you born in the year of rabbit, you are calm, serene, keen, intelligent, stylish, classy, artistic and sophisticated; and last but not least, abundance is with you! I have quite a few childhood friends who are rabbit, and I think they are very patient people as well. My pleasure in bringing you with another monthly Calgary real estate market update. Enjoy!

CREB January Stats - CALGARY HOME SALES RISE YEAR-OVER-YEAR

Single family home sales in the City of Calgary edged upwards month-over-month and showed the first year-over- year increase since April 2010. Condominium sales down slightly. Condominium

Single family homes Number of sales Average price Median price Average days on market

Dec. 2010 734 441,341 389,000 59

Jan. 2011 791 454,163 390,000 56

Number of sales Average price Median price Average days on market

Dec. 2010 320 288,291 258,500 62

Jan. 2011 302 282.768 255,000 61

“The recovery in 2011 will be incremental and gradual… at the moment Calgary is offering buyers a great deal of affordability, low interest rates and a large selection of inventory… Overall the first quarter of 2011 will show modest improvements in sales which will lay the foundation for the return to a more balanced market. Alberta will begin to see growth in net-migration as the oil and gas sector regains traction. This will help boost consumer confidence and ultimately bring improvements to employment and family income - key drivers of our housing market.” says the president of CREB.

My business has been growing steadily year over year, Thank You for your trust and support! Please refer me to anyone who needs a good realtor, I promise they will get the best professional services!


MLS Absorption Rate Waiting Not Much Longer In a downward market, buyers hesitate to make the move – just in case the price will fall more. Officials from both new and resale sectors have sent the message that price will move up this year. Based on recent job growth figures from the City of Calgary, and migration of people to Calgary, the resale market appears ready for recovery, says president of the CREB.

January MLS month end inventory: 8070 January total MLS sales: 1349 Absorption Rate: 5.99

From what I’ve seen in the field, the market is starting buzzing again. There were times houses were sold before I can take my buyers to view, only a few days on the market. Of course the new mortgage rules will again urge some, especially first time buyers, to take action.

My Client Is The Lucky Winner of the 2010 Hyundai Accent!

Congratulations Louisa! (I was handing over her the key) Follow me on my Facebook Fanpage

Hong Wang Realtor Certified Condominium Specialist Greater Calgary Real Estate Services Inc 403-397-6809 http://www.hongwang.ca/


Calgary Real Estate Market Update