Up until today … I understood that Calgary Real Estate prices increased in 2011 by 1%. With a new Price Index tool … it turns out they increased 2.7%.

I’m starting to understand get why I scored a D – in First Year Stats at Acadia University. It was my worst mark ever … other than 1st year French … which was also a D -.

Stats and French – just don’t make sense to me.
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Calgary, February 6, 2012 – The year-over-year value of homes in Calgary increased in January 2012 by 2.7 per cent, according to a new price measurement tool vetted by academia and financial industry experts, including the Bank of Canada.

The new MLS® Home Price Index (HPI) was introduced today by the Canadian Real Estate Association in partnership with Canada’s five largest real estate boards – Vancouver, Fraser Valley, Calgary, Toronto and Montreal.

The new tool measures how typical properties are valued in the market rather than relying on average and median prices. In January, for example, the average price declined year-over-year, but only because more homes were sold in the lower-price ranges compared to the previous year, when more luxury home sales occurred.

“By combining information from the MLS® HPI with their own knowledge, experience and skills, REALTORS® can help their clients approach one of life’s most important decisions – that of buying or selling a home – with greater confidence,” says Bob Jablonski, president of CREB®.

The MLS® HPI is calculated using a sophisticated statistical model that estimates
home prices based on their quantitative and qualitative features that are typical to that neighbourhood, such as square footage, number of rooms above the basement level, number of bathrooms and half-bathrooms, whether the property has a fireplace and/or finished basement, lot size or the age of the property, to name a few.

“The MLS® HPI is the best tool to determine true price trends in the market,” says Ann-Marie Lurie, CREB® chief economist. “The commonly used average and median prices can be misleading as they are easily affected by the composition of what is sold.”

For buyers and sellers, the MLS® HPI determines what a typical home is valued at in their neighborhood, as well as how this compares to other neighborhoods. In addition, it provides a true price trend for their community.

“We are excited to be able to offer the purest, most accurate housing data that is currently available,” Jablonski says. “The MLS® HPI can be used to not only determine pricing trends, but also to gain insight into the typical home in a specific market segment, adding value to the existing tools REALTORS® can use to value homes for both buyers and sellers.”

Sneak Peek – Altadore. 1628 49 Ave SW. R1 zoned lot coming on the market! ALTADORES ONLY CUL-DE-SAC!!! Should be offered at $670,000. 733 Sq. meters.

Call Altadore’s ReMax Realtor Local Specialist Bryon Howard today to get the jump on this great 1230 sq foot home / building lot.

Also have back pocket listings for two R2 zoned 50′ Altadore Lots.

So excited! I get to do not one but two open houses today! My seller Wendy Rumboldt Renton asked if I was bringing cookies!!! (Do I look like I bake?) Please pop into 148 Hawkfield CR, NW between 1 and 2pm and/or 311 Templeby PL, SE between 3 and 4pm. Awesome family homes. MLS #C3506628 and #C3506608. (There will be no freaking cookie crumbs for me to have to clean up afterwards.) http://tinyurl.com/75bjuv5

4912 45 St SW, Glamorgan – Less than 1 km from Mount Royal University. 1960′s Bungalow offers hardwood floors, updated kitchen and appliances.  New Windows throughout. 4th bedroom downstairs with rumpus room. Parking for 2 cars in back – a garage could easily be built.  Last tenant did a rediculous job of removing the front door step and installing the front door. (He was less bad at installing the back door.) Priced as a handiman special! Seller fed up with this generation of people who don’t do what they say they will do … like pay rent.  Offered at $339,900.
Call or text me to view – it’s vacant and ready for a good property manager like you who capitalizes on it’s proximity to great transportation and Mount Royal University! (… and did I mention … the nearby Grey Eagle Casino?)    For More Pics click here!
Bryon Howard, ReMax House of Real Estate, 403-589-0004

Google Analytics In Real Life – Online Checkout On Wednesday I attended the Calgary Real Estate Board Annual Forecast Breakfast. It’s a terrific annual event which brings out all the professional realtors for a day of interacting and learning.
I always pick up some great info at this event … and this year I will work a bit harder at understanding Search Engine Optimization. Apparently we should be using Google Analytics to assist us in this.

… I was just doing some searching … and found this hilarious video … on the customer experience.

Recently a friend (who also loves ‘the deal’) told me about Right In Hair Styling, on Edmonton Trail and 6th Ave in Bridgeland, Calgary, Alberta. Yesterday I was in the area and met Patrick who has owned the building and has been cutting hair on Edmonton Trail and 6th Ave in Bridgeland, NE Calgary for 22 years.

My friend who got a cut at Right In Hair Styling last week learned he was born in The Year of The Ox. Did you know that it not only matters what your birth year symbol is … but weather you were born in the spring, summer, fall or winter? Also … the time of day?

Owner Patrick and I also had a fun conversation … mostly focused around real estate.
He translated my name to Chinese … and was rewarded with a $3 tip.

A hair cut, a great conversation … and my name translated in Chinese … all for $15. I love a deal.

Calgary’s NW sector boasted the largest gains in single family homes sales in the first quarter.

Calgary, April 1, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), Calgary Metro sales remained at levels similar to the first quarter of 2010. Improved sales in the single family market have largely been offset by declining sales in the condominium market, indicating that the gradual recovery will continue to be driven by the single family market for the better portion of the year.

Single family home sales in the first quarter of 2011 were 3,309, a 4 per cent increase over the first quarter of 2010. The combination of stable home prices, low interest rates and year-over-year improvements in employment are the primary factors fueling the growth.

March 2011 single family home sales totaled 1,355, a 3 per cent decrease over March 2010 figures. The decline in sales was accompanied by a 19 per cent year-over-year decline in new listings. As a result, inventory remained at three months, which indicates a balanced single family market.

The NW sector boasted the largest gains in single family home sales in the first quarter of 2011 with 1,198 sales, a 13 per cent increase over the first quarter of 2010. Sales in the SE posted quarterly gains of 5 per cent, while the SW remained relatively unchanged and NE sales declined by 9 per cent.

“Improved affordability levels in single family homes have offered some individuals the opportunity to purchase homes in areas of the city that were once unattainable,” says Sano Stante, president of CREB®.

The SW sector recorded the highest single family average home price in the first quarter of 2011 at $570,748, while average home prices in the NW and SE were $464,990 and $422,821 respectively. The NE sector continues to remain the most affordable, with average prices hovering around $282,713.

“Average single family home prices remain relatively stable compared to the first quarter of last year, as people continue to purchase more homes at the lower end of the price spectrum,” says Stante. “The rise in sales has been primarily offset by a corresponding increase in listings, resulting in stable average prices.”

Calgary Metro average price of single family homes in March 2011 was $462,947, a 2 per cent decline from March 2010, and virtually unchanged from the previous month. Meanwhile, the median price declined by 5 per cent compared to March 2010.

Quarterly condominium sales continue to fall over levels recorded in the previous year, down by 11 per cent compared to the first quarter of 2010, while quarterly average prices are down by 1 per cent. It is important to note the quarterly average price of condominiums is skewed upwards for 2011 due to the sale of a $4.1 million condominium. If we remove this sale, quarterly average price would have declined by over 2 per cent.

The average price of condominiums in March 2011 was $280,781, while the median price was $256,000, a respected 5 per cent drop and 7 per cent, respectively, from levels recorded in March 2010.

Improved selection of affordable single family homes and higher inventory levels of new condominiums have reduced the demand for resale of condominiums. It is anticipated that demand should gradually recover in the latter half of the year, as Calgary’s economic recovery continues to take hold. “This provides a window of opportunity for condo buyers early in the year to discover a large selection of available product at affordable prices,” says Stante.

Calgary’s labour market has shown some recent improvements, however, it is still in the early stages of recovery as job growth remains below the 5-year average. Improvements in the energy sector are anticipated to show stronger job growth in the second half of the year, providing the foundation for continued recovery in the housing market.

Finally a Sunny Weekend!

METRO STATS UPDATE (June 1 – 9, 2010)

	2010		2009
Calgary Metro – Single Family
Sales	357	508
New Listings	963	741
Inventory	5,952	3,765
Sales to New	37%	69%
Sales to Inv	6%	13%
Calgary Metro – Condominium
Sales	155		194
New Listings	401		318
Inventory	2,735		1,905
Sales to New	39%		61%
Sales to Inv	6%		10%
Towns (Outside Calgary)
Sales	102		149
New Listings	329		296
Inventory	3,039		2,623
Sales to New	31%		50%
Sales to Inv	3%		6%
Country Residential – Acreages
Sales	13		16
New Listings	100		100
Inventory	1,183		922
Sales to New	13%		16%
Sales to Inv	1%		2%
Total MLS®
Sales	642		879
New Listings	1,869		1,476
Inventory	13,594		9,215
Sales to New	34%		60%
Sales to Inv	5%		10%
SP >= LP	33		83
Avg. $ Ovr LP	7,012		4,118
Max. $ Ovr LP	50,100		100,150
SP = LP	11		42
% of SP to LP	97.06%		96.70%

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