Calgary's housing market stays hot

CALGARY HERALD - Calgary's hot housing market started 2014 with a bang...and shows no signs of cooling off any time soon. Calgary recorded the highest year-over-year jump in house prices across the Canada in January, and so far indications show the escalation continues in February. 

The Canadian Real Estate Association released its monthly MLS data on Friday and listed Calgary as the top centre in the country for annual growth in the MLS Home Price Index at 8.98 per cent. Nationally, prices, in the 11 centres surveyed, rose by 4.83 per cent.

“We are seeing multiple offers in all price points. Obviously the lower the price point, the larger pool of buyers there is and hence a greater likelihood of multiple offers in the lower price points,” says Crystal Tost, a realtor with RE/MAX Realty Professionals in Calgary.

Al Capone's former Miami mansion up for sale

One of the most famous  pieces of real estate in Miami, the former home of notorious mob boss Al Capone, is up for sale. Originally purchased by Al Capone in 1928 for $40,000,the 10,000 sq ft waterfront mansion is now listed for $8.5 million.

Vancouver sales up 30% over last January

The Real Estate Board of Greater Vancouver reported a 30.3% increase in sales in January 2014 over January 2013. Sales through the multiple listing service totalled 1760 for the month, a big jump from the 1351 made in January last year. 
The board also noted that the January sales for 2014 were 7.2% higher than the 10 year average for January. 
“The Greater Vancouver housing market has been a balanced market for nearly a year,” board president Sandra Wyant said in a statement.
“This has meant steady home sale and listing activity, accompanied by stable home prices.”

Read more at the Vancouver Sun here.

What to do this Family Day Weekend

Looking for things to do this Family Day? Here is a list of local events taking place all weekend! #BCFamilyDay

FREE SKATING: Lots of municipalities hosting free skates this family day, including Chilliwack, Abbotsford, Coquitlam, and Langley. There is also a FREE Family Day skate at the outdoor rink at Robson Square!

FAMILY FUN CARNIVAL - Harrison Hot Springs: Harrison is hosting a Family Fun Carnival on February 8th and 9th in honour of Family Day. The Carnival runs from 11am-4pm each day and includes, sporting events, crafts, entertainment and lots of family fun! Check out the website for full details.

FAMILY DAY AT THE ZOO - Bring your family to the Greater Vancouver Zoo on BC Family Day and you will receive 20% off general admission prices. Plus there will be a family fun scavenger hunt from 10 am - 2 pm. Details at the Great Vancouver Zoo website.

Luxury home sales hit record highs in 2013

Sales of luxury homes hit record highs in over two thirds of Canadian cities in 2013 - according to this report in the Toronto Star. Wealthy locals and a return of international investors in Canadian real estate meant a big boom in the sales of luxury homes and condos - especially after a slump in many cities in 2012.

Vancouver's market saw the highest increase, with a 36% increase over 2012. This meant the sale of over 1600 properties over $2 million - including the most expensive condo in the country. 

This 6500 sq. foot two story condo boasted three bedrooms, four bathrooms, a gym, a pool and a roof top deck. It sold for 25 million last year.

Calgary, Edmonton and Toronto also saw dramatic increases in the sale of luxury homes/

What amounts to “luxury” varies dramatically, from just $500,000 in smaller markets like London, according to ReMax, $1 million-plus in Calgary, more than $1.5 million in the Greater Toronto Area and $2 million and above in what remains Canada’s priciest city, Vancouver.

“Canada’s luxury housing market has undergone serious transformation in recent years,” says ReMax vice president Gurinder Sandhu. “The market is maturing and the appetite is unprecedented.”