Calgary Market Sept, 2018

City of Calgary, September 4, 2018 – Easing sales, gains in new listings and elevated inventory levels continue to slow Calgary’s recovery in the housing market in August.

Persistent oversupply in the Calgary housing market continued to weigh on prices in August. Citywide benchmark prices edged down over previous months by 0.8 per cent and are 2.4 per cent below last year’s levels.

“Calgary’s employment market has persistently high unemployment rates at 7.9 per cent and recent job losses in full time positions. The struggles in the employment market are one of the factors weighing on our local housing market,” said CREB® chief economist Ann-Marie Lurie.

“A slow recovery in the energy sector combined with tighter lending conditions and competition from the new home sector are also contributing current housing market conditions.”

Citywide sales totaled 1,490 units this month, down nearly seven per cent from last year and 14 per cent below long-term trends.

Sales and price declines were not consistent across all districts and product types. Prices have recently trended down across most areas based on year-to-date figures, but have remained comparable to last year’s levels in the City Centre and West districts of the city.

“Both buyers and sellers need to be realistic about their objectives. Buyers need to be aware that price changes differ depending on what and where you are buying. The decline in sales does not mean price declines across the board,” said CREB® president Tom Westcott.

“Sellers need to be well informed to be competitive. They need a good understanding of what has been selling around them and how their property compares to homes that have successfully sold.”

HOUSING MARKET FACTS

Detached

Apartment

Attached

REGIONAL MARKET FACTS

Airdrie

Cochrane

Okotoks

Listing Details

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4111 162 AV SW - MLS® # C4179513

Property Details


List Price
$7,000,000
Living Area
9,274 sqft.
Bedrooms
5
Bathrooms
4 full, 2 half
Lot Size Area
825365 sq.ft.
Taxes
N/A
Type
Detached
Style
2 Storey
Basement
Full, Walkout/Walk Up
Year Built
2011

Description

Here is an opportunity of a lifetime to own one of Calgary’s most magnificent homes with an investment of 18.95 acres of land within the city limits. You’ll never tire of the views of the rolling foothills & mountains. Offering 12,500+ sq ft of eminently livable space the endless amenities (some you didn't think were possible) are close at hand. Defining the home’ sophistication is the front foyer grand split staircase; formal den w/custom wood details; dream kitchen featuring full sized SxS Sub-Zero fridge/freezer, 10-burner Wolf gas stove w/2 ovens & pasta tap, 2 Miele dishwashers, custom walnut butcher block island; eating nook; dining room w/rounded feature wall; family room w/custom fit couches & finally a formal living room w/elongated fireplace & custom ceiling details. Additional main floor perks are the laundry & mudroom that lead access to an attached 4-car garage & a gymnasium w/20’ ceilings, skylights & basketball hoops at both ends. *See Additional Public Remarks.

Listing Provided By

RE/MAX REAL ESTATE (CENTRAL)

Last Updated

2018-08-01

CREB The data relating to real estate on this web site comes in part from the MLS® Reciprocity program of the Calgary Real Estate Board (CREB®). This information is deemed reliable but is not guaranteed accurate by the CREB®.

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