The Current state of Real Estate in Calgary (Ken Andrade - ReMax)

APRIL 2010  CALGARY METRO   MARKET STATISTICS    SINGLE FAMILY Avg Sale Price - $ 460,378- Median Sale Price - $ 417,000- Mth End Inventory - 4986 Avg Active Days on Market - 42 # of Sales - 1352 Sales $ / List $ - 97.46%    CONDOMINIUM Avg Sale Price - $ 289,588- Median Sale Price - $ 267,500- Mth End Inventory - 2445 Avg Active Days on Market - 45 # of Sales - 639 Sales $ / List $ - 97.04%

CALGARY'S HOUSING MARKET..........                         ......HEALTHY OR UNHEALTHY? Since the Global Recession the Canadian Government has provided a number of Programs and Incentives to assist in all aspects of the Economic  Recovery.  The decrease of the Bank of Canada's Key Lending Rate in some experts opinion; has created the most profound effect on the recovery and this is no more evident than in the Housing Market.  I do not want to minimize the many individuals who have lost their jobs and are feeling the crunch however Housing prices have stabilized, 1st Time Home Buyers can now afford their 1st home, the move up Buyer is taking advantage of the market, Builders are busy again and Investors are back.  The Big Question that my clients are now asking is (other than "When and how much will interest rates rise?) whether or not this robust activity is Healthy or Unhealthy for the Calgary Market?  Since my job and passion is to Educate my clients in the Real Estate market; the answers are never the same due to each individuals unique situation.  For example:  If my client wants a long term home for his/her family and doesn't want to move for at least 20 years, the question of if the market is healthy or unhealthy is not as crucial as for someone who would like to purchase and flip a property within 6 months.  The following excerpts provide more insight into this question and the state of the current housing market here in Calgary:   “Continued economic optimism, improved choice and price stability are all contributing to a healthy and balanced housing market in Calgary,” says Diane Scott, president of CREB®. “Calgary’s housing market is set to simmer, not sizzle in 2010. We can be grateful that we are not facing any real danger of a housing bubble here in our market.” “There has been some talk about a bubble in some parts of Canada but the rapid price increases seen in Vancouver, Victoria and southern Ontario have not been seen in Calgary,” Scott acknowledges. “Single family house prices are coming back nicely compared to 2009,” says Scott. Source: Calgary Real Estate Board (CREB) If you would like more information about Current Trends, Housing Statistics and/or need Professional Advice when Buying or Selling; please contact me anytime!