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December 2014

Found 4 blog entries for December 2014.

2014 has been a productive year for real estate in Calgary and across Canada. Fueled by low interest rates, home and condo sales have continued to increase in most areas. Here are the predictions for 2015 by some of the major players in the Canadian real estate industry:

Remax:

Because of falling oil prices, interest rates could remain as they are. Alberta home prices will increase, but only by three percent due to the slump in oil prices. Unless the price of oil continues to decline, house prices should remain steady.

Canada Mortgage and Housing Corporation:

Existing home sales will rise moderately with increases of about 2 percent.

Royal Bank of Canada:

Not the most optimistic report, RBC predicts that home sales are expected to drop by

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Mahogany Island Collection in CalgaryHopewell Residential will be developing a new 22-home island neighbourhood - "The Mahogany Island Collection." Especially unique, not just because of it's urban, island setting, but because this will be the first gated community approved in Calgary in about 13 years. This is pretty surprising, especially in a city of hundreds of neighbourhoods.

Touted as an exclusive, private island community, some believe the concept of a gated entrance is more for marketing than safety. How is it any different than a secure condominium or townhome complex that offers 'resident-only' amenities?

From a buyer standpoint, this will certainly be a status draw for some, but an increased sense of security for others. Having one's kids playing on a gated street would have a

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Calgary condoGood for the Buyer...or Is it?

With the rising cost of real estate in Calgary, it's no wonder that condominiums have become increasingly popular in the last year. In November alone, sales from Calgary condos and townhomes showed a 20% increase.

The benchmark price for a Calgary condominium is $300,700 compared to $279,600 in November 2013. Even with rising prices, a condo is still the most affordable alternative for many trying to get a foothold in the Calgary real estate market.

In an effort to continue the momentum and protect buyers in this booming market, the Alberta government is looking at introducing a new legislation - Bill 9 - the Condominium Property Amendment Act. This includes about 50 amendments to the condominium property laws in an

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Canadian economic growth is still leading in Calgary with the lure of higher salaries and job opportunities. This filters down to housing which has consistently remained strong in 2014.

Calgary Listings Fun Facts

Calgary November listing stats

Top 3 Months for Listing a Home

The top 3 months for new listings were:
May with 4,327
June with 3,815
April with 3,754

Which Months Have the Most Active Market

If you're wondering which times of the year have the most active market, the average days on the market were:
January: 40
November: 38
October: 37
September 36
August 35
July: 33
February: 30
June: 29
March: 28
May: 27
April: 27

Million Dollar Homes

We're also seeing 28% increase in home sales over $1 million dollars in November:

  • November 2013 50 homes sold over $1
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