What’s Happening in Calgary…

Calgary, May 1, 2011 – According to figures released by CREB® (Calgary Real Estate Board), City of Calgary year-to-date sales declined by 4 per cent compared to the first four months of 2010. The decline was offset by a 14 per cent drop in listings recorded over the same period, resulting in lower inventory levels, and a moderate growth in average prices. For updated Calgary Real Estate Market stats every hour go to http://www.nancyball.ca/crebstats

Interest Rates and Monthly Mortgage Payments

The reality for buyers that is looming is whether or not, the interest rates will rise this summer. Based on the latest media coverage it looks like June or July it could rise so mortgage  planners are suggesting to lock in a pre-approved rate now so a buyer can take advantage of the extra savings. Most banks and mortgage planners can lock in a rate hold for 90-120 days which allows the buyer to take their time in finding the right place. With the recent mortgage rule changes that took place earlier this year, it would seem the sooner you can buy a home the better. The good news is Spring and Summer there are a lot more listings to choose from giving the buyer the upper hand. Visit http://www.nancyball.ca/calculators as a tool to see your overall monthly mortgage payment with your interest rate.

Recent Calgary and Rural Market Stats

Active Listings as of May 1, 2011
——————————————————————————————————————-
                                             Count                     Average Price             Average DOM
Single Family                  6,615                          $516,273                           63.39
Houses
Condominiums               2,563                          $322,236                           66.40

Combined Residential
Active Listings                9,178
——————————————————————————————————————-
Rural With Home             1,015                           $1,109,394                        105.60
Rural Land                          593                                $740,767                        179.63
Total Rural                       1,608
——————————————————————————————————————-
Total MLS                      10,786
Active Listings

Sales For April 2011
——————————————————————————————————————-
                                              Count                      Average Price                 Average DOM
Single Family                  1,477                           $464,905                             47.69
Houses
Condominiums                604                            $285,827                             58.46

Combined Residential
Sold Listings                     2,081
——————————————————————————————————————-
Rural With Home                 67                                $838,914                        93.56
Rural Land                            22                                $384,436                        90.45
Total Rural                            89
——————————————————————————————————————-
Total MLS Sales             2,170

Inspiration of the Month There is no formula for success except, perhaps, an unconditional acceptance of life and what it brings.

- Arthur Rubinstein

Nancy Ball
CIR Realty
Ph) 403-510-6000
www.NancyBall.ca
Platinum Award Club Member 

 # 7 out of the office for 2010