Cochrane Real Estate

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Calgary Real Estate News

SUMMER MARKET STILL FAVOURS BUYERS; BUT FOR HOW LONG?

August 1, 2008

Calgary’s MLS® market remains steady for the month of July and still presents great opportunities for buyers, according to fi gures released by the Calgary Real Estate Board (CREB®).

Single family Calgary metro new listings added for the month of July totaled 2,559, a very slight increase of 0.4 per cent from July 2007, when new listing added totaled 2,548 and a decrease of 8.2 per cent from last month, when new listings coming to the market were 2,787. Calgary metro condominium new listings added in July 2008 were 1,183, showing an increase of 5.9 per cent from the 1,117 new condominium listings added in July 2007 and a decrease of 4.1 per cent from last month’s condominium listings of 1,234.

Single family Calgary metro sales for the month of July came in at 1,313, showing a decrease of 12.2 per cent from the 1,495 sales in July 2007 and showing a decrease of 8.8 per cent from last month’s sales of 1,439. Condominium sales for the month of July were 535, a decrease of 11.3 per cent from the 603 condominium sales recorded in July 2007 and showing a slight decrease of 3.8 percent over the 556 condominiums changing hands in June 2008.

“As we can see, the number of new listings coming to the Calgary market is down just slightly again in July. This may be due in part to the current time of year; home owners are more focused on family holidays during the summer months,” remarked CREB® President, Ed Jensen. “The market is presenting a good selection for home buyers, but waiting too long may present less opportunity in the future, as we continue to move into a normal market,” Jensen continued. “Buyers who wish to take advantage of the zero down mortgage program will need to hurry as this program, and the 40 year amortization program, are discontinuing shortly. Buyers can get more information about these programs from their REALTOR®.” concluded, Jensen.

The median price of a single family Calgary metro home in July 2008 was $408,500, showing a decrease of 6.1 per cent from July 2007, when the median price was $435,000 and down just $500 from last month when the median price was $408,000. All Calgary Metro MLS® statistics include properties listed and sold only within Calgary’s City limits. The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.

“The single family median price in Calgary has come down over last year. This month alone we have seen 95 single family metro properties sell in the $200,000 to 300,000 price range as opposed to just 42 sales in that same category in July 2007. In addition to that, we had 60 properties that sold for over $1,000,000 in July of 2007 and only 30 this July. It just reinforces the fact that the craze of last year is over and sellers can no longer name their price; sellers must price their properties competitively the fi rst time for a relatively quick sale.” explained Jensen.

The average price of a single family Calgary metro home in July 2008 was $456,380, showing a decrease of 9.8 per cent from July 2007, when the average price was $505,920. The average price of a Calgary metro condominium was $296,338, showing a 7 per cent decrease from July 2007 when the average price was $318,582. Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differentials between geographical areas.

For more information, please visit creb.com.

Previous Real Estate News

• August 2008: SUMMER MARKET STILL FAVOURS BUYERS; BUT FOR HOW LONG?
• July 2008: THE MARKET REMAINS STEADY DURING THE MONTH OF JUNE
• June 2008: BUYERS NEED TO PAY ATTENTION – HOMES ARE ON SALE TODAY!
• May 2008: SELLERS NEED TO PAY ATTENTION TO THE CURRENT MARKET
• April 2008: MLS® REPORTS VARIETY IN THE REAL ESTATE MARKET IN MARCH 2008
• March 2008: MLS® RESALE MARKET PICKS UP MOMENTUM IN FEBRUARY 2008
• February 2008: MLS® RESALE MARKET REMAINS BALANCED IN THE FIRST MONTH OF 2008
• January 2008: MLS® SALES HELD STEADY IN 2007
• December 2007: MLS® SEES SEASONAL SLOW DOWN ACTIVITY
• November 2007: MLS® SEES A STEADY FOURTH QUARTER AHEAD
• October 2007: BUYERS ENJOY GOLDEN OPPORTUNITY
• September 2007: INVENTORY HITS HIGHEST NUMBER FOR 2007
• August 2007: INVENTORY HITS PEAK
• July 2007: INVENTORY LEVEL HIGHEST THIS YEAR
• June 2007: MLS® MARKET SHOWS BALANCE
• May 2007: APRIL MLS® SALES AND LISTINGS REMAIN STEADY
• April 2007: SALES AND NEW LISTINGS FOR SINGLE FAMILY AND CONDO BREAK ALL TIME MLS® RECORDS
• March 2007: CONDO SALES CONTINUE TO REMAIN STRONG; PRICES STEADY
• February 2007: SALES AND LISTINGS REFLECT A BALANCED MARKET IN THE FIRST MONTH OF 2007
• January 2007: 2006 ENDS WITH A QUIET GROWL
• December 2006: OPPORTUNITY REMAINS STRONG FOR BOTH BUYERS AND SELLERS
• November 2006: FOUR MONTHS OF INCREASING INVENTORY AND SUBSEQUENT PRICE REDUCTIONS GIVE BUYERS A WELCOME EDGE
• October 2006: MLS® SALES COOL SLIGHTLY WHILE LISTINGS INCREASE
• September 2006: MLS® SALES REMAIN STRONG AS THE END OF SUMMER APPROACHES

Cochrane Real Estate & Cochrane MLS® Listings

Welcome to the most comprehensive source for Cochrane real estate agents, developed with the help of top Cochrane and area real estate agents. Start your Cochrane real estate search with the latest Cochrane MLS® listings, view the latest Cochrane House Price Stats and Cochrane mortgage rate information, get Cochrane School information, sell your Cochrane home, view Cochrane district links and much more.

Cochrane Real Estate Listings

Search for Homes & Condos listed for sale on the Cochrane Board's MLS® System using one of our Top Real estate agent websites.

Search for Cochrane Real Estate Listings using interactive maps, provided by licensed real estate agents. Easily locate any Cochrane house or condo listed for sale on the Cochrane Board's MLS® system, with street addresses and even driving directions. IBG has the largest network of Cochrane and area real estate websites with more Exclusive listings than any other local website network.

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Cochrane Alberta Recreation & Culture

Cochrane Alberta has recreation opportunities that are staggering. Beautiful parks, active lifestyles and sports teams are a source of pride for many Cochrane Alberta citizens.

Cochrane Parks

Cochrane Alberta has beautiful parks and natural green spaces are well-known throughout Alberta and invite quiet retreats and action packed getaways. A water playground, participark, western ranch and wildlife sanctuary are just some of Cochrane park highlights. Biking, paddling, skating, cross-country skiing, athletics, bird watching, picnics and peaceful walks can all be enjoyed in various parks and facilities along streams, creeks and the Cochrane River.

Cochrane Trails

Within the city of Cochrane, Waskasoo Park offers over 80 kilometers of paved and shale trails along the river valley for a wide variety of recreational pursuits such as cycling, hiking, cross-country skiing and horseback riding.

Cochrane and Area Golf Courses

Cochrane Alberta offers many choices for the golf enthusiast. The River Bend Golf Course is a municipal 18-hole championship caliber golf course in Waskasoo Park. An 18-hole private course bordering the Cochrane River along with three other public courses provide a good variety. Courses at nearby Lacombe, Innisfail, Sylvan Lake and Wolf Creek add to the abundance of golfing opportunities.

Cochrane Recreation Programs

The City of Cochrane, sporting groups, and many community associations, offer a host of recreational opportunities for children and adults alike. Opportunities range from recreational classes and programs, family festivals, sports teams and community groups, and drop-in activities. For more information contact the Recreation, Parks and Culture Department.

Cochrane Museums & Interpretive Centres

The Cochrane and District Museum, Kerry Wood Nature Interpretive Centre, and Fort Normandeau bring a historical and educational perspective to Cochrane and the Central Alberta region together with the recently-opened Alberta Sports Hall of Fame and Museum.

Cochrane Festivals & Events

Westerner Days, Cochrane International Air Show, First Night Celebration, Winter Fest, Heritage Day, Youth Fest, Canada Day, Agri-trade Show, Mayor's Garden Party, World of Women trade show, and the Silver Buckle Rodeo are just some of Central Alberta's family festivals and events. For information on current events in the Cochrane area, check out the Cochrane & Community Events Calendar.

Arts & Culture Facilities & Organizations

The state of the art Cochrane College Arts Centre, The Westerner and many other venues throughout the city offer a variety of live performances including music, drama and dance.

Cochrane Alberta has an abundant arts and culture organizations provide opportunities throughout the community to get involved in a wide range of drama, musical and other cultural pursuits.

Cochrane Restaurants

Cochrane can accommodate almost everyone's entertainment needs. With more than 160 restaurants to choose from you won't be disappointed with your options - you'll find everything from ethnic cuisine to western fare.

Shopping

With major shopping areas on each end of the city and countless shopping opportunities in-between, Cochrane is Central Alberta's shopping centre. You'll enjoy searching for unique treasures in quaint stores and finding great bargains in some of the wholesale shops. The Cochrane Farmer's Market is also a great destination for shoppers and is open to locals and visitors throughout the spring, summer and fall.

Cochrane Real Estate

This Cochrane Real Estate site presents useful information for real estate homebuyers and sellers as well as links to great Cochrane community information and other Cochrane real estate internet sites.

Please try our online Cochrane Home Search and Evaluation services, and search the online Cochrane real estate listings as our guest. Relocating? We would be happy to send you school and community information in addition to the current Cochrane real estate listings and property values. Just click here to use our handy relocation form!

This resource is updated regularly, and whether you are buying or selling real estate properties, this site presents information that is of interest to future and current Cochrane, Alberta area home owners. Your comments and suggestions are welcome! Please visit often.

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