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Similar to the list you develop to purchase groceries, why not develop your own list of needs and wants when buying a new home or house hunting. This doesn’t mean you can’t have what you want in your home, but rather, that you have a priority list of the most important features where a NEED would trump a WANT when push came to shove.

You may not be able to obtain all the “want” items on your list, within your budget, but at least you and your real estate agent will have a clearer idea of what to look for. You may have to compromise on a few items to stay in line with your budget. 


Here’s a few examples of needs versus wants: 

NEEDS could include: 
Adequate square footage for comfortable living 
Sufficient bedrooms for your family
Sufficient bathrooms
Comfortable eat-in kitchen
Garage or basement for storage needs
Backyard for children’s play area
Easy access to schools
Etc...


WANTS could include:
Specific carpeting, paint, exterior color
Jacuzzi tub or hot tub 
 Hardwood floors
Bay windows  Built-in entertainment center
Brass lighting fixtures
Skylights
A pretty view

Etc...

 

When developing your lists, try to establish a happy medium of your NEEDS and WANTS. That is, you’ll want to look for a home that includes all of your needs, with as many wants as practical, while remaining within your budget. Once you have this information in hand, your needs will be clearly defined from your wants. Having this knowledge will establish a clear direction for your new home shopping. 

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Please visit our Open House at 106 660 EAU CLAIRE AVE SW in CALGARY.
Open House on Saturday, October 13, 2012 1:00 pm
***Open House Saturday, Oct. 13 from 1:00 pm- 4:00 pm*** WELCOME TO THE PRINCETON - CALGARY'S PREMIER DOWNTOWN CONDO COMPLEX ! Just steps from the BOW RIVER, PRINCE'S ISLAND PARK & EAU CLAIRE SHOPPING, this SPOTLESS, 1130 sq. ft. LUXURY condo has it all ! This main floor unit features a bright, open concept with the living room ( WITH GAS FIREPLACE & PRIVATE GARDEN PATIO ACCESS ), kitchen ( WITH GRANITE COUNTERTOPS, BREAKFAST BAR & STAINLESS STEEL APPLIANCES ) and large dining area all flowing together ( OVER HARDWOOD FLOORING & UNDER 9 FT. CEILINGS ). You'll love the large master suite ( WITH GAS FIREPLACE, WALKIN CLOSET & LARGE 5 PC. ENSUITE ) as well as the private den ( WITH A QUEEN SIZE, CUSTOM MURPHY BED & VAULTED CEILING ) along with a 3 pc. bath ( WITH SEPERATE ACCESS TO THE 3 PC. BATH ) and large storage / laundry room. This home also comes with ONE TITLED UNDERGROUND, HEATED PARKING SPACE and a TITLED STORAGE UNIT. Call today for your personal showing !!
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When it comes to the sale of your home, it is the little things that can go a long way to increasing the price you will receive. Most buyers respond positively to a clean, clutter-free home that is in good condition. The more effort you put into the appearance of your home, the more likely you will receive greater activity and multiple offers.


Over time, we become accustomed to our homes, often overlooking the eyesores and the list of honey-dos that were never completed. Clutter accumulates. We think nothing of the low light and the pale and cracked paint. But someone who is looking for a new place to call home, is considering EVERY detail!! 


Below are numerous smaller, inexpensive things you can do to greatly improve the showing of your home. With a little elbow grease, and a little creativity, it is easy to keep your home in prime showing condition.


Prior to the listing, have a garage sale. The rule is "less is better." Clean. Organize. Discard. Donate. Pack all that you can. Clean out closets and storage areas. Donate old clothes and furniture to local charities. This will create a sense of greater space -- and mean less to move. What about all those books and magazines that you don't want? Perhaps you can donate them to a local library, hospital or charity.


Set the stage. Take full advantage of the areas in your home. Set the table with your best china. Create warmth and coziness in the living room, with a crackling fire. Put a pair of wine glasses and a vase of flowers on the coffee table in front of the fire.


Eliminate the odors. Buyers respond less favorably to smells. Use cleansers of all kinds to make the home smell fresh, from carpet freshener to potpourri. Deodorize your cat’s litter box / scoop litter daily. Put cedar chips inside the closets. Use the sense of smell to your advantage by having fresh-baked cookies or other baked goods on the kitchen table. People have both allergies and concerns when it comes to animals. If you have a pet, make arrangements to have it elsewhere when a home is being shown and remove all signs of having a pet.


Create space. Ensure that all doors, cabinets and drawers open all the way without bumping into anything or sticking. Clean out the entry closet. Move oversized furniture to a storage facility or garage. Entrances to all rooms should have an open flow.


Make the most of your views. Put a screen or a basket of flowers in front of a fireplace if not in use. Make sure there is enough room for visitors to view out the windows. Remove any clutter around window areas. Clean windows.


Create counter space. Store away extra small kitchen appliances. Put away dish racks, soap dishes and other clutter. Remove everything, like magnets and photos, from the refrigerator.


Aim for netural decor. De-personalize your teenager's room, the family room or other areas by removing wild posters or items that could be construed as offensive.


Increase the wattage. Pay attention to the laundry room, kitchen and bathrooms. Prior to showing, turn on the lights in every room.


De-Personalize. Remove family photos and unique personal items such as awards, hobbies, etc. throughout your home. This will make it easier for someone else to imagine themselves living there. 


After you have completed these inexpensive items, stand back. Ask a friend to view your home. What do you feel? Is it warm and inviting? Does it look comfortable and spacious? Is the aroma pleasant? When you create a positive, warm environment it is likely your buyer will feel the same way.


If you would like our opinion of your home's condition prior to selling, contact The Jay Magnussen Real Estate Team for a free, no obligation home evaluation. 

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I have listed a new property at 106 660 EAU CLAIRE AVE SW in CALGARY.
***Open House Sunday, Oct. 7 from 12:00 m- 3:00 pm*** WELCOME TO THE PRINCETON - CALGARY'S PREMIER DOWNTOWN CONDO COMPLEX ! Just steps from the BOW RIVER, PRINCE'S ISLAND PARK & EAU CLAIRE SHOPPING, this SPOTLESS, 1130 sq. ft. LUXURY condo has it all ! This main floor unit features a bright, open concept with the living room ( WITH GAS FIREPLACE & PRIVATE GARDEN PATIO ACCESS ), kitchen ( WITH GRANITE COUNTERTOPS, BREAKFAST BAR & STAINLESS STEEL APPLIANCES ) and large dining area all flowing together ( OVER HARDWOOD FLOORING & UNDER 9 FT. CEILINGS ). You'll love the large master suite ( WITH GAS FIREPLACE, WALKIN CLOSET & LARGE 5 PC. ENSUITE ) as well as the private den ( WITH A QUEEN SIZE, CUSTOM MURPHY BED & VAULTED CEILING ) along with a 3 pc. bath ( WITH SEPERATE ACCESS TO THE 3 PC. BATH ) and large storage / laundry room. This home also comes with ONE TITLED UNDERGROUND, HEATED PARKING SPACE and a TITLED STORAGE UNIT. Call today for your personal showing !!
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Please visit our Open House at 106 660 EAU CLAIRE AVE SW in CALGARY.
Open House on Sunday, October 7, 2012 12:00 pm
***Open House Sunday, Oct. 7 from 12:00 m- 3:00 pm*** WELCOME TO THE PRINCETON - CALGARY'S PREMIER DOWNTOWN CONDO COMPLEX ! Just steps from the BOW RIVER, PRINCE'S ISLAND PARK & EAU CLAIRE SHOPPING, this SPOTLESS, 1130 sq. ft. LUXURY condo has it all ! This main floor unit features a bright, open concept with the living room ( WITH GAS FIREPLACE & PRIVATE GARDEN PATIO ACCESS ), kitchen ( WITH GRANITE COUNTERTOPS, BREAKFAST BAR & STAINLESS STEEL APPLIANCES ) and large dining area all flowing together ( OVER HARDWOOD FLOORING & UNDER 9 FT. CEILINGS ). You'll love the large master suite ( WITH GAS FIREPLACE, WALKIN CLOSET & LARGE 5 PC. ENSUITE ) as well as the private den ( WITH A QUEEN SIZE, CUSTOM MURPHY BED & VAULTED CEILING ) along with a 3 pc. bath ( WITH SEPERATE ACCESS TO THE 3 PC. BATH ) and large storage / laundry room. This home also comes with ONE TITLED UNDERGROUND, HEATED PARKING SPACE and a TITLED STORAGE UNIT. Call today for your personal showing !!
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On October 13, 2012 @ 10:30 AM, The Jay Magnussen Real Estate Team will be participating in the 1st Annual Wishmaker Walk for Wishes in support of The Children's Wish Foundation of Canada.

 

Every year, thousands of individuals come together in communities across Canada to walk and raise funds to create the magic of a wish for Canadian children living with life threatening illnesses.

 

 The Children’s Wish Foundation of Canada has never refused an eligible child and has granted over 18,000 wishes!  Wish requests continue to increase and they are currently providing 3 wishes a day! So every time you have breakfast, lunch or dinner a wish is being granted to a child.

 

Your support will help grant wishes to thousands of Canadian children.

 

Wishmaker Walk for Wishes

I hope you will join us and help to create the magic of a wish by supporting my efforts in the Wishmaker Walk for Wishes.

 

To sponsor our team online, just follow this link to our secure donations page:

 

http://my.e2rm.com/personalPage.aspx?SID=3526850&langPref=en-CA

 

You can help The Foundation even more by spreading the word about this exciting event and also by encouraging others to sponsor our team.  

 

Thanks for your generous support!

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Kayben Farms and Olde Towne Okotoks present the 4th Annual Pumpkin & Scarecrow Festival. Fall is a wonderful time of year to spend with family & friends - and enjoy some fresh air! Visit Kayben Farms & Olde Towne Okotoks for some fall activities and entertainment. 

 

The Scarecrows entered into the contest will be on display throughout Olde Towne Okotoks for exhibit and voting. While you are in Olde Towne Okotoks you can enmjoy many of the boutique shops, cafe's and more.

 

To enter a scarecrow into the contest - click here for more info. 

 

Each Saturday in October Kayben Farms will be open from 10 am - 5 pm for fun, family-friendly fall activities like live music, hay rides, pumpkin patch, pumpkin crafts, corn maze & other children's activities. 

 

If you are going to be in the Okotoks area, and have also been considering a move to this lovely town - why not check out some real estate for sale while you're here. Email us if you have any questions about the Okotoks area or if you would like to see some homes for sale!

 

Check out our 'Explore Okotoks' page for information about the Town of Okotoks, schools in Okotoks, communities or neighbourhoods in Okotoks and more.  

 

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Please visit our Open House at 106 660 EAU CLAIRE AVE SW in CALGARY.
Open House on Sunday, September 30, 2012 12:00 pm
***Open House Saturday, Sept. 29 from 12:30 - 3:30 pm & Sunday, Sept. 30 from 12:00 - 3:00 pm*** WELCOME TO THE PRINCETON , CALGARY'S PREMIER DOWNTOWN CONDO LOCATION !! Just steps from the BOW RIVER, PRINCE'S ISLAND & EAU CLAIRE this SPOTLESS 1130 sq. ft. condo has it all. This main floor unit features an open concept with the living room ( WITH GAS FIREPLACE & PRIVATE GARDEN PATIO ACCESS ), kitchen ( WITH GRANITE COUNTERTOPS, BREAKFAST BAR & STAINLESS STEEL APPLIANCES ) and large dining area all flowing together ( OVER HARDWOOD FLOORING & UNDER 9 FOOT CEILINGS ). You'll love the large master suite ( WITH GAS FIREPLACE, WALKIN CLOSET & LARGE 5 PC. ENSUITE ) as well as a private den ( WITH CUSTOM MURPHY BED & VAULTED CEILING ) along with a 3 pc. bath ( WITH DEN ACCESS ) and large laundry / storage room. This unit comes with 0NE TITLEd PARKING SPACE and a TITLED STORAGE UNIT. Call today for your private showing !!
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Please visit our Open House at 106 660 EAU CLAIRE AVE SW in CALGARY.
Open House on Saturday, September 29, 2012 12:30 pm
***Open House Saturday, Sept. 29 from 12:30 - 3:30 pm & Sunday, Sept. 30 from 12:00 - 3:00 pm*** WELCOME TO THE PRINCETON , CALGARY'S PREMIER DOWNTOWN CONDO LOCATION !! Just steps from the BOW RIVER, PRINCE'S ISLAND & EAU CLAIRE this SPOTLESS 1130 sq. ft. condo has it all. This main floor unit features an open concept with the living room ( WITH GAS FIREPLACE & PRIVATE GARDEN PATIO ACCESS ), kitchen ( WITH GRANITE COUNTERTOPS, BREAKFAST BAR & STAINLESS STEEL APPLIANCES ) and large dining area all flowing together ( OVER HARDWOOD FLOORING & UNDER 9 FOOT CEILINGS ). You'll love the large master suite ( WITH GAS FIREPLACE, WALKIN CLOSET & LARGE 5 PC. ENSUITE ) as well as a private den ( WITH CUSTOM MURPHY BED & VAULTED CEILING ) along with a 3 pc. bath ( WITH DEN ACCESS ) and large laundry / storage room. This unit comes with 0NE TITLEd PARKING SPACE and a TITLED STORAGE UNIT. Call today for your private showing !!
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Quest For Excellence 2013

 

Do you know a grade 12 student, living in Western Canada, who could benefit from a $1000 scholarship?


What is the Quest for Excellence? The Quest for Excellence Program is a bursary program for grade 12 students in Western Canada. It was established by RE/MAX of Western Canada to recognize the success and ongoing pursuits of Western Canadian students in regards to leadership and community contribution initiatives. Scroll down to enter.

RE/MAX of Western Canada will award 16 bursaries of $1,000 each to qualifying Grade 12 students. In addition, the 16 bursary winners will be entered into a draw and one lucky recipient will receive a RE/MAX Hot Air Balloon ride for two. Bursary winners will be notified in May, 2013. 

The Quest for Excellence is open to all Grade 12 students attending high school from September, 2012 - June, 2013. Grade 12 students may not have participated in graduation commencement ceremonies in the past. Applicants must be a resident of one of the following provinces/territories.
 

  • British Columbia
  • Alberta
  • Saskatchewan
  • Manitoba
  • Yukon Territory

Students are to convey the contributions they have made to their communities in a short online essay, maximum 1,250 words. Key qualities students should demonstrate are leadership, motivation and communication skills. Other attributes may include volunteering, participation in charitable events or fundraising, and contributions that enrich the lives of others and their communities.

Note: All entries become the property of RE/MAX of Western Canada and photos and names of winners may be used in print publications and media.

Complete the following on-line application form. Deadline for entry is midnight of March 11th, 2013. A maximum of one on-line essay per student.
 

CLICK HERE FOR MORE INFORMATION 

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Please visit our Open House at 106 660 EAU CLAIRE AVE SW in CALGARY.
Open House on Sunday, September 23, 2012 1:00 pm
***Open House: Saturday, Sept. 22 from 1:00 - 4:00 pm & Sunday, Sept. 23 from 1:00 - 4:00 pm*** WELCOME TO THE PRINCETON , CALGARY'S PREMIER DOWNTOWN CONDO LOCATION !! Just steps from the BOW RIVER, PRINCE'S ISLAND & EAU CLAIRE this SPOTLESS 1130 sq. ft. condo has it all. This main floor unit features an open concept with the living room ( WITH GAS FIREPLACE & PRIVATE GARDEN PATIO ACCESS ), kitchen ( WITH GRANITE COUNTERTOPS, BREAKFAST BAR & STAINLESS STEEL APPLIANCES ) and large dining area all flowing together ( OVER HARDWOOD FLOORING & UNDER 9 FOOT CEILINGS ). You'll love the large master suite ( WITH GAS FIREPLACE, WALKIN CLOSET & LARGE 5 PC. ENSUITE ) as well as a private den ( WITH CUSTOM MURPHY BED & VAULTED CEILING ) along with a 3 pc. bath ( WITH DEN ACCESS ) and large laundry / storage room. This unit comes with 0NE TITLEd PARKING SPACE and a TITLED STORAGE UNIT. Call today for your private showing !!
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Please visit our Open House at 106 660 EAU CLAIRE AVE SW in CALGARY.
Open House on Saturday, September 22, 2012 1:00 pm
***Open House: Saturday, Sept. 22 from 1:00 - 4:00 pm & Sunday, Sept. 23 from 1:00 - 4:00 pm*** WELCOME TO THE PRINCETON , CALGARY'S PREMIER DOWNTOWN CONDO LOCATION !! Just steps from the BOW RIVER, PRINCE'S ISLAND & EAU CLAIRE this SPOTLESS 1130 sq. ft. condo has it all. This main floor unit features an open concept with the living room ( WITH GAS FIREPLACE & PRIVATE GARDEN PATIO ACCESS ), kitchen ( WITH GRANITE COUNTERTOPS, BREAKFAST BAR & STAINLESS STEEL APPLIANCES ) and large dining area all flowing together ( OVER HARDWOOD FLOORING & UNDER 9 FOOT CEILINGS ). You'll love the large master suite ( WITH GAS FIREPLACE, WALKIN CLOSET & LARGE 5 PC. ENSUITE ) as well as a private den ( WITH CUSTOM MURPHY BED & VAULTED CEILING ) along with a 3 pc. bath ( WITH DEN ACCESS ) and large laundry / storage room. This unit comes with 0NE TITLEd PARKING SPACE and a TITLED STORAGE UNIT. Call today for your private showing !!
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I have listed a new property at 26 Summit Pointe DR in DE WINTON.
This custom built home has over 6000 sq ft of living space. Quality and thought were put into every detail of this home - custom walnut cabinetry, solid walnut core 8 ft doors, rounded drywall edges, painted ceiling boarders, tray ceilings, walnut columns, extensive built ins, 3 zone in floor heating on main floor with in floor heating in the basement and many more details. This home has recently been painted top to bottom with new travertine flooring installed on the main floor. Relax outside and enjoy the south facing views of Heritage Pointe Golf Course, backing onto the 9th tee box. The downstairs offers a media room, fitness room, wine room, complete wet-bar, bedroom and steam shower bath and more fantastic views from the walk-out basement. Upstairs are three additional bedrooms, two enjoy their own private sink area and the third large room has plenty of room for a generous sitting area. It's hard to find a family home of this size and quality, this is a must see.
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Okotoks Realtor Jay Magnussen and his Okotoks real estate team including Kim Daniel, Savannah Magnussen-Afonso and Derek Stuart, along with KidSport Okotoks leader Nick Ruigrock were serving up world famous Nathan's Hot Dogs at the Okotoks Jr. A Oilers Home Opener hockey game on Friday night at the Centennial Arena. 

 

We are thrilled to announce that we raised $900 which will go a long way within the KidSport Okotoks organization. 

 

KidSport believes that no kid should be left on the sidelines and all should be given the opportunity to experience the positive benefits of organized sports. KidSport Okotoks provides support to children in the Foothills area in order to remove financial barriers that prevent them from playing organized sport.

 

If you would like to make a donation or find out how you can donate your gently used sports equiptment, visit: http://www.kidsport.ab.ca/index.php?page=okotoks_home

 

Special thanks to Nathan's Hot Dogs, Sobeys, ATCO Gas, Okotoks Jr. A Oilers and The Western Wheel! 

 

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Please visit our Open House at 106 660 EAU CLAIRE AVE SW in CALGARY.
Open House on Sunday, September 9, 2012 1:30 pm
***Open House: Saturday, Sept. 8 from 1:00 - 4:00 pm & Sunday, Sept. 9 from 1:30 - 4:00 pm*** WELCOME TO THE PRINCETON , CALGARY'S PREMIER DOWNTOWN CONDO LOCATION !! Just steps from the BOW RIVER, PRINCE'S ISLAND & EAU CLAIRE this SPOTLESS 1130 sq. ft. condo has it all. This main floor unit features an open concept with the living room ( WITH GAS FIREPLACE & PRIVATE GARDEN PATIO ACCESS ), kitchen ( WITH GRANITE COUNTERTOPS, BREAKFAST BAR & STAINLESS STEEL APPLIANCES ) and large dining area all flowing together ( OVER HARDWOOD FLOORING & UNDER 9 FOOT CEILINGS ). You'll love the large master suite ( WITH GAS FIREPLACE, WALKIN CLOSET & LARGE 5 PC. ENSUITE ) as well as a private den ( WITH CUSTOM MURPHY BED & VAULTED CEILING ) along with a 3 pc. bath ( WITH DEN ACCESS ) and large laundry / storage room. This unit comes with 0NE TITLEd PARKING SPACE and a TITLED STORAGE UNIT. Call today for your private showing !!
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I have listed a new property at 2221 32 ST SW in CALGARY.
LIVE, RENT or BUILD !! This 800 sq. ft INNER CITY bungalow located on a quiet street is situated on a 50' x 120' R-C2 LOT offering plenty of options ! The main floor has an open concept with the living room , dining area and kitchen all flowing together (OVER HARDWOOD FLOORING) along with the master bedroom and a 4 pc. bath. The basement is fully developed with 2 more bedrooms and a 3 pc. bath. Outside you'll find a nicely landscaped yard with 2 magnificent WEEPING BIRCH trees in the front, side driveway, patio and an oversized, insulated & drywalled TRIPLE GARAGE / WORKSHOP in the back. Call today for your showing !
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Please visit our Open House at 106 660 EAU CLAIRE AVE SW in CALGARY.
Open House on Saturday, September 8, 2012 1:00 pm
***Open House: Saturday, Sept. 8 from 1:00 - 4:00 pm & Sunday, Sept. 9 from 1:30 - 4:00 pm*** WELCOME TO THE PRINCETON , CALGARY'S PREMIER DOWNTOWN CONDO LOCATION !! Just steps from the BOW RIVER, PRINCE'S ISLAND & EAU CLAIRE this SPOTLESS 1130 sq. ft. condo has it all. This main floor unit features an open concept with the living room ( WITH GAS FIREPLACE & PRIVATE GARDEN PATIO ACCESS ), kitchen ( WITH GRANITE COUNTERTOPS, BREAKFAST BAR & STAINLESS STEEL APPLIANCES ) and large dining area all flowing together ( OVER HARDWOOD FLOORING & UNDER 9 FOOT CEILINGS ). You'll love the large master suite ( WITH GAS FIREPLACE, WALKIN CLOSET & LARGE 5 PC. ENSUITE ) as well as a private den ( WITH CUSTOM MURPHY BED & VAULTED CEILING ) along with a 3 pc. bath ( WITH DEN ACCESS ) and large laundry / storage room. This unit comes with 0NE TITLEd PARKING SPACE and a TITLED STORAGE UNIT. Call today for your private showing !!
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I have listed a new property at 429 20 DISCOVERY RIDGE CLOSE SW in CALGARY.
Beautiful corner condo on the 4th floor of the prestigious Wedgewoods of Discovery Ridge! Nestled in Griffith Woods natural area this condo complex offers privacy and serene views. Features 2 bedrooms and 2 baths. Open concept kitchen, dining and family area with a large master bedroom and ensuite bath. In suite laundry. There is also a full gym along with a billiards and party room to enjoy. Close access to many amenities such as Westhills shopping centre. Many nature trails and golf courses in surrounding area. Titled parking stall and plenty of storage space. Come view this immaculate condo today!
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Support KidSport Okotoks by joining us on Friday, September 14 from 5:30 - 7:00 pm @ the Okotoks Oilers Jr. A Home Opener!


Donations will be accepted with all proceeds benefitting KidSport Okotoks! See you there! 

 

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Calgary, Sept. 4, 2012 – Following several months of higher than expected sales growth, Calgary residential sales in August totaled 1,725 units, a 10-per-cent increase over last year.


“While the sales grow remains strong, it is slower than previous five months in part due to the lack of new listings in the City’s single family market,” said Bob Jablonski, CREB® President.  “With fewer products to choose from, many consumers are holding off on transacting or turning to surrounding towns, the new home market and condominiums.”


New listings within the City of Calgary total 2,585 units in August, down 13 per cent from one year ago and down more than four per cent on a year-to-date basis.  Meanwhile, new listings in the surrounding towns have improved by nearly 10 per cent after the first eight months of this year.

 

“Improving choice, affordable prices, combined with lifestyle factors and the lack of choice in the single family market within city limits, have driven sales growth in towns surrounding the city,” said Jabslonski.  “In general, the area has witnessed sales activity that is comparable to peak sales activity.”


Single family sales totaled 1,169 in August 2012, six per cent above levels recorded in 2011.  Meanwhile, new listings declined by 14 per cent on a year-over-year basis over the same time frame.  This year, demand has far outpaced new additions to supply in the single-family market, causing a significant depletion of standing inventories.  However, the recent decline in sales growth helped ease the pressure on the market, as months of supply have risen to levels more consistent with balanced territory. 


While sales growth activity did cool, the upward price pressure on single family homes will not likely ease until the fall.  As of August, the benchmark price for a single family home was $432,600, an eight-per-cent increase over August 2011 levels.  The increase may seem significant, but the prices have leveled off compared to the previous month and remain nearly $20,000 below peak levels recorded in July 2007.


August sales in both condominium apartment and townhouse units recorded year-over-year growth that outpaced the single family market.  Year-to-date apartment sales have improved by nearly 10 per cent over 2011, while the level of new listings remained at levels similar to last year.  The improvement in sales relative to new listings has helped reduce the elevated inventory levels, keeping this market in balanced territory. 


The benchmark price of a condominium apartment for the month of August was $248,700, a 3.6-per-cent increase over the previous year.  Meanwhile townhouse style condominiums had a monthly benchmark price of $278,200, only a 2.5-per-cent increase.  While the upward momentum is a signal of continued recovery in the condominium market, the benchmark price for condominiums remains nearly 16 per cent below peak levels.

 

“Some continue to foresee a scenario where price declines are looming in the local housing market, especially given national trends,” said Ann-Marie Lurie, CREB® Chief Economist.  “There is no question economic concerns can threaten our housing recovery. However, to date Calgary housing market consumers are exhibiting confidence evidenced through the pick-up in sales activity across all housing types. 


“The rapid sales growth caused supply levels to drop, particularly in the single family market, resulting in price gains.  While we anticipate recent movements in the single family resale market will take some pressure off the higher-than-expected price growth, another city wide price correction is not expected given current economic growth expectations combined with one of the best affordability climates in the country." 

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