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CREB
HOUSING MARKET FACTS
* Slower detached sales in October was not enough to derail earlier gains, as year-to-date sales improved in almost all districts in the city.
* On average, detached prices this year have improved in most districts of the city. The largest gains were in the west district, pushing prices to levels comparable with previous highs.
* Apartment condominium product continues to see more supply than demand with October months-of supply figures remaining just above seven months. Most of the inventory is located within the city center, but there has been gains in most districts causing excess supply in all areas of the city.
* The semi-detached segment of the market continues to see the best annual price improvement. As of October, prices totaled $419,400, which 0.10 per cent below last month and three per cent above last year's levels. This is partially due to the improved demand for this type of product. While year-to date sales have improved, this is the only sector that has seen sales rise above longer-term averages.
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CREB Now
HIGHER STANDARDS
REALTORS® are refining their roles and elevating their business through education
How do we keep REALTORS® in the know and current? CREB®'s mandatory training program was developed in 2014 to help achieve the strategic goal of enhancing professional conduct in local real estate. The program aims to raise the proficiency, competency and courtesy levels of Realtors, thereby elevating professionalism in the local industry.
Through mandatory training, Realtors can enhance their industry knowledge, professionalism and business standards. This training also ensures that Realtors are aware of industry changes, modern technologies and tools that might create better customer experiences.
"Mandatory training is one way CREB® helps elevate our members' professional development and assists them in staying relevant in the industry," said Robyn Baran, CREB®'s training and development supervisor.
All Calgary Realtors are required to complete this training annually to remain active in the industry. Each year, the training is focused around new and relevant subjects. For example, in 2015, the training focused on professionalism and how to build better relationships. In 2016, the training outlined how Realtors could maximize the value of the MLS® System for their clients. Finally, this year, training emphasizes the governing rules and legislation that all Calgary Realtors must adhere to.
CREB® is passionate about enhancing professional conduct in local real estate, and mandatory training is just one way the organization keeps Realtors in the know and current in their field.
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CREB Now
By Mario Toneguzzi
THE BIGGER PICTURE
Thinking long-term puts Calgary's housing market in perspective
Real estate is a numbers game, and looking at those numbers over an extended period truly does shine a light on the performance of a market over the long-term.
From that perspective, home prices in Calgary have been very impressive.
Here is something to consider. The MLS® System benchmark price in 2004 was $213,267, which jumped to $231,567 in 2005, $335,517 in 2006 and finally $410,717 in 2007. Over the past decade, those prices have fluctuated in response to the strength of Calgary's economy. In 2016, the annual benchmark price was $438,567 and this year, up to the end of September, it was $438,322.
"Generally, we do see a level of appreciation," said Ann-Marie Lurie, CREB® chief economist. "If you look at the growth following that period (from 2005 to 2007) . . . you're seeing a level of appreciation that's fairly slow but steady.
"Granted, we've had two corrections since then, so we have to keep that part in mind. But when you look at it on a longer-term basis, it really is a very slow, moderate appreciation on annual prices. So, housing prices generally have been improving."
She says it's important for people to consider how long they intend to be in their purchased home, since housing is really a long-term asset.
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Calgary first Passive House takes insulation to the next level
METRO
By Brodie Thomas
The building method devised in Germany keeps residents warm without a furnace
Melissa Valgardson's new home in Montgomery may not look all that different to the naked eye, but visit her basement and you'll notice something missing - the furnace.
"Most of the time we can get away with a 1500 watt heater," she said. "That's basically a hairdryer."
On really cold days - when the temperature dips to -30 - they have electric heaters on thermostats which keep the house warm.
Valgardson and her husband, both engineers, have been interested in energy efficient homebuilding technology. There's lots of ways to go about it, but after much research they settled on passive house technology.
The idea, which originated in Germany, is to take insulation to the extreme. Her house is basically air tight, although a high quality air exchange system keeps the air fresh.
She said it seemed like the best technology to go with, because it focused on the first and most important of the three R's - reduction.
Other homebuilders are working on net zero homes that produce more energy than they consume. A passive house focuses on eliminating the need for energy consumption in the first place.
"The easiest way to get to net zero is to build a passive house first," she said. "First reduce what you need to use."
There's no single way to build a passive house, according to Rob Bernhardt, CEO of Passive House Canada. His not-for-profit organization promotes the technology, and is holding seminars in Calgary this week.
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Calgary's New Central Library counting down the sleeps until 2018 opening
METRO
The downtown library will be ready for Calgary readers in 359 days
Like a good book in the perfectly engineered reading nook, the New Central Library construction is quickly approaching its final chapter - and like Coun. Druh Farrell said it's a page-turner.
Luckily, in this series, the new facility will open its doors to citizens young and old on November 1, 2018, and on Tuesday city officials and library lovers celebrated the final stretch of construction - one more year - until the grand reveal.
In a speech, the mayor said at 6.7 million visits last year the library's network has had more users than all of the city's sports and culture events combined.
"The library is an important piece of civic infrastructure because it's free and open to everyone," said Nenshi. "There's no profit being made here, it's open to every single member of our community regardless of their age or background."
During the election, some took to social media in the heat of an arena debate to criticize the city for investing in the library.
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GROWING TOGETHER
CREB Now
Neighbouring northwest communities of Bowness and Montgomery harken back to Calgary's formative years
Perched along the shores of the Bow River in Calgary's northwest, the adjacent communities of Montgomery and Bowness share a powerful sense of history.
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Homes You Can Buy In Canada For $500,000
HUFFINGTON POST
It used to be that half a million dollars was a lot of money. Today, it's just what you need to afford an average home in Canada.
The nationwide average resale price was $487,000 in October, according to the Canadian Real Estate Association. Broken down into monthly payments, that average house will cost you more than $1,900 a month, assuming 20 per cent down, a 25-year mortgage and a rate of 3.4 per cent.
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A BIG THANK YOU
The 2017 Pumpkin Giveaway is now another chapter in the 19-year epic story of the generosity and caring demonstrated by so many in Tuscany and northwest Calgary.
It was great to see so many familiar faces and residents of all ages joining us at our pumpkin patch to search for the perfect pumpkin and contribute to the Food Bank.
Together, we collected 26 bins of food (an incredible 2,805 pounds), plus a substantial cash donation for the Calgary Food Bank, in exchange for 22 huge crates of pumpkins!
I extend my most sincere thanks to everyone that continues to make this a popular annual event, and to our corporate contributors, including Homes & Land Magazine, Sobeys, Farwest Outdoor Advertising, Starbucks and The Tuscany Club. I send out a huge thank you to Tracy Keen and the rest of our McKelvie Group team, for planning and hosting this worthwhile event. And of course, special thanks to Keoma, and the staff and volunteers at the Food Bank, who work tirelessly to ensure that no one goes hungry in our city.
Congratulations to Oliver and Shay-Neel, the winners of our colouring contest. I hope you are enjoying spending your gift certificates. Thank you to all the young artists who entered - well done!
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Next year will be the 20th year of the McKelvie Group Pumpkin Giveaway, and we look forward to making it extra special. Stay tuned for more on this in future newsletters.
In addition to wanting to do our part to help Calgarians in need, our team is passionate about offering our clients the very best in real estate services. With great pride, I would like to share two reviews that we received this week. They eloquently speak to what you can expect when working with our team. If you know anyone who is looking to make a real estate move, please share this link to our reviews and our website. We would love the opportunity to help them make the best decisions for their situation!
Click on the video above to see our two latest reviews.
Best regards,
Kelly and Team
Kelly McKelvie
403-247-9988
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CREB
STATUS QUO FOR CALGARY'S HOUSING MARKET
Prices remain similar to last year, but ease in October.
Oct. 2017 City of Calgary, November 1, 2017 - October's housing market conditions closely echoed previous month's trends with easing sales, rising inventories and downward price pressure. Like last month, the monthly activity was not enough to derail gains that occurred earlier in the year. October sales and inventories totaled 1,467 and 6,463 units for a month of supply of 4.4. Several months of elevated supply in comparison to demand has weighed on pricing over the past several months. The city-wide unadjusted benchmark price in October totaled $438,900, 0.6 per cent below last month, but comparable to last year. "While economic activity has improved in 2017, it will take some time for this to translate into housing market growth. There have been employment gains, but most of this has occurred in areas with traditionally lower income," said CREB® chief economist Ann-Marie Lurie. "We also continue to face weak migration, higher lending rates and changes to lending policy. The combination of these factors is impacting housing demand, which is prolonging the pace of recovery." Resale inventory gains occurred in each product type and across most districts in the city. The largest gains were in districts with substantial new development growth. In the detached segment, the largest number of units added to inventory occurred in the $300,000 - $500,000 price range. This represents nearly 42 per cent of all detached inventory. 62 per cent of the inventory in the city-wide market is priced below $500,000. "There is far more product availability in the lower price ranges now compared to several years ago," said CREB® president David P. Brown. "This provides more options for potential buyers concerned about their purchasing power given all the changes in the lending market." The largest monthly price change occurred in the apartment condominium sector which recorded an unadjusted monthly decline of 0.8 per cent, resulting in a 13 per cent spread over monthly highs recorded in 2014. Despite some recent adjustments, prices in the attached and detached segments remain relatively stable compared to last year.
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The team at the McKelvie Group is comprised of a group of professionals who provide you with the support, follow-through and assistance you deserve when it comes to your important investment.
Each team member is well trained and an expert in his/her respective field. You can expect exceptional professionalism when working with the McKelvie Group.
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CREB Now
CALGARY ARCHITECTURE THROUGH THE AGES
130 years of Calgary homes
From the first rustic homes that dotted our city's landscape in 1887, to the sprawling modern masterpieces of today, Calgary has seen its share of architectural styles over the years.
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CREB Now
CALGARY HISTORICAL HOMES
Then and now
Several historic residences from Calgary's formative years are still standing today, thanks to restoration efforts, and tenants who are committed to preserving these pieces of the city's heritage.
A.E. Cross House
This two-storey home was owned by prominent Calgarian and member of the Calgary Stampede's founding "Big Four" A.E. Cross. Cross was an important presence in Alberta's formative years, known for his work as a rancher, brewer, oilman and entrepreneur. The house was built in 1891 in what is now the inner-city community of Inglewood and Cross purchased it in 1899. His family would call it home for several decades. It is one of city's oldest residences, and is now the home of the acclaimed Rouge restaurant. The house features several interesting architectural elements favoured by wealthy individuals of the late Victorian period, including a wood-shingled hip roof, sandstone foundation, "widow's walk" balustrade, clapboard siding and gingerbread trim.
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CREB Now
THE ENERGY DETECTIVE
Reducing power consumption is easier than you think.
What if we told you that with a few simple changes, you could cut your household electricity consumption in half? It's possible, and Ron Kube is living proof.
Kube recently installed a solar-power system on his St. Albert home. But before going solar, he checked to see how much electricity his home was using. He was shocked to discover his family was using 70 per cent more than the Alberta average of 7,200 kilowatt hours per year - they were energy hogs.
"We were actually using over 12,000 kilowatt hours a year," said Kube. "So, then, the question was, 'okay, where are all those electrons going?' "
Ron is a university professor, so his curiosity quickly transformed into a full-blown research project. "I got a little obsessed and I started to measure everything," he said.
Instead of simply switching his lightbulbs to LEDs and then hoping for the best, Kube first became an energy-efficiency detective. He started with a plug-in power meter. "You can buy one of these things and you can plug them in," he said. "And then you plug your appliance in, and it tells you how much power it is using."
Ron checked the coffee pot, fridge, freezer, cookers, entertainment devices, computers and literally everything else with a plug.
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Sincerely,
