Ryan Jacques's blog

The legalization of recreational marijuana is fast approaching. The city of Calgary has released a map of where these dispensaries will be and there will be one located in Woodbine in the Safeway mall located at 2525 Woodview Drive. It also seems there will be another located in the CO-OP mall at Southland Drive and 24 Street, as well as another located in Oakridge at plaza located at 90th Ave and 24th street. Here is a link to the city of Calgary map with all locations

http://www.calgary.ca/PDA/pd/Scripts/land-use-bylaw/cannabis-store-info-map.html

• Like the apartment sector, sales have eased in the attached sector. However, year-to-date sales have improved in some districts of the city for semi-detached and row product. Semi-detached sales improved in both the North West and West districts. 
• Row sales remained relatively stable in both the North East and East districts of the city.
• Oversupply in the semi-detached sector has placed some downward pressure on prices this year, but year-to-date average benchmark price remains higher than last year in the City Centre, North

• Year-to-date sales totaled 1,892 units, seven per cent below the previous year. However, sales did not ease across all districts. Sales in both the North East and North West districts remained slightly higher than levels recorded last year. 
• New listings in the apartment sector eased compared to the previous year, preventing more significant gains in inventory levels. However, oversupply in this sector persists, causing further price declines. 

• Year-to-date detached sales eased across each district. Elevated inventory levels caused months of supply to remain just below five months in August and continued to weigh on housing prices across all districts.
• Detached benchmark prices totaled $497,000 in August. This is a 0.74 per cent decline over last month and 2.6 per cent below the previous year. 
• Prices have trended down in all districts in August, however, on a year-to-date basis prices remain above last year in both the City Centre and West.

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. 

August was another fair month for our community real estate market. We still have a plethora of incentory with 85 properties for sale. There have beena a total of 13 sales so far this month as the market continues to struggle to recover. We are sitting at around 4.25 months on inventory, keeping us in a balanced market, but buyers still seems to have upper hand, with the days on market increasing meaning sellers have to be more willing to negotiate. The new edition of the Wookcreek Homes Market Report will be available at the Woodbine Scotiabank next week.