Large supply of homes makes it a great time to buy
Electrifying new barbecue perfect for your balcony
The firmly entrenched recession, prompting a lack of new jobs coupled with rising homeownership costs, from the stress test to rising interest rates, continues to batter Calgary’s resale housing market, according to the Calgary Real Estate Board’s (CREB) October statistics report.
“Job growth in this city remains a concern, as unemployment levels remain well above levels expected for this year. Rising costs of ownership also continue to weigh on housing demand,” said CREB chief economist Ann-Marie Lurie. “At the same time, housing supply levels are not adjusting fast enough to current conditions, resulting in price adjustments.”
The inventory of homes of all types listed on the MLS system in October reached 7,345 homes, taking the months of supply to 5.6, well above typical levels for the month of October.
The adjustments saw the city-wide benchmark price (a combination of all housing types) fall to $426,300, the fifth consecutive month of declines and a year-over-year decline of 2.9 percent. Year to date, the combined benchmark price is down 1.16 percent, with similar declines in each segment.
The single-family benchmark price was $499,410, a year-to-date decline of 1.05 percent, with the largest declines in the Northeast, Northwest, South and Southeast districts, likely a result of added competition from the new home sector, says CREB.
In the apartment segment, the benchmark price was $257,540, down 2.77 percent, year to date. All districts of Calgary saw declines, with the steepest ones in the Northeast, East and South districts.
The attached benchmark price was $329,190 year to date, a 1.08 percent decline. However, citywide prices remain relatively flat compared to last year, due to gains in the City Centre, Northeast and East districts offsetting declines in the Northwest, South and Southeast.
Ironically, the large supply and weakening prices make it the ideal time to buy a home in Calgary.
“With these types of market conditions, many potential buyers should be able to find the home that they are looking for with well-priced listings appearing in certain price ranges,” said CREB president Tom Westcott. “Sellers need to manage expectations and have accurate data in order to be aware of what is selling in their community.”
In many high-rise and condominium complexes, gas and charcoal grills are strictly prohibited due to the fire hazard presented to all unit s in t he development.
It’s a situation that can cause BBQ Deprival Syndrome, but can be cured with an electric barbecue, says Stephen Schroeder, co-CEO of Napoleon Grills.
“You may not be able to fire up an open flame, but urban living doesn’t have to mean giving up the i ncredible smoky flavours that come from a barbecued dinner,” says Schroeter. “Modern electric grills have the same look and functionality as a gas or propane barbecue, making them ideal for balcony cookouts.”
Napoleon’s TravelQ made a name for itself for tailgating at the game and camping in the mountains as a powerful, but compact and portable grill that meets all grilling needs.
It is bringing those same features to the all-new electric model, the TravelQ PRO285E.
“A 1,500-watt burner element heats up 280 square inches of cooking space with Napoleon’s signature Wave cooking grids set in porcelainized cast iron,” says Schroeter. “The easy-to-set heat control allows for precision cooking with a high-top cast aluminum lid for maximum heat retention and the ability to cook larger cuts of meat like whole chickens or roasts.”
The TravelQ Electric also features side handles for easy carrying, superior windproof design to hold in the heat, ultra-compact design that is easy to set up and use, a solid cast aluminum base, stainless steel hardware and is backed by Napoleon’s 10-Year Limited Warranty.
“The innovative design and standard Napoleon quality make the TravelQ ideal for apartment or condo living,” says Schroeter. “No matter what’s on the menu, it will help bring that traditional barbecue flavour to your meal.”
Many potential buyers should be able to find the home that they are looking for with well-priced listings appearing in certain price ranges.” Tom Westcott,
The TravelQ PRO285E is a new compact electric model from Napoleon Grills, ideal for condo or apartment living.
Inventory of all types of homes reached 7,345 on the MLS market in Calgary, taking the months of supply to 5.6, well above typical levels for October.