May 2011

Found 2 blog entries for May 2011.

This past April, Calgary sales of single family homes in the MLS system were down by almost ten percent from April of 2010, numbering 1,217 transactions. On the other hand the average price went up roughly 4.2 percent, or $479,575. Condos also showed a decline of 16.3 percent from April of 2010, showing 535 sales in the current year. But condo prices fell by 0.15 percent to an average of $289,158.

Sano Stante, who is the Canadian Real Estate Board’s president, allows that the market so far this spring has been slower than average, but also notes that inventories are once again decreasing, getting down to more healthy numbers. Single family listings were down 25 percent comparing this April to the same month last year. This keeps housing prices more on

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Does downtown Calgary need more high-end office space? Judging from the increased interest in lease space, perhaps so. Currently the class AA/A lease market sits at a 7.09 percent vacancy rate. That is a decrease from the 8.23 percent it was sitting at by the end of 2010. Developers are eyeing the skyline, perhaps plotting where, and when, to change its makeup.

One idea is a smaller office tower to complement the Bow Tower, one of Calgary’s recently finished skyscrapers. Other projects that were put on hold are being pulled out, looked at, and the market analyzed. Avison Young, one of the area’s prime management firms notes that the developers are taking a look at the growing employment numbers, the increase of energy prices and the absorption rate of

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