As I was gathering information for this post yesterday, Outlook pinged “new mail” several times. My foreclosure email-notifier was sending me the latest listings.
Yesterday over 10 were listed, with 4 being from the same condominium complex in Connaught. (Those 4 units were listed for $299,900 a few months ago, but have been since foreclosed and are now listed for under $200k.)
A Sunalta complex has 9 units in foreclosure. Bankview & Penbrooke have the next highest amount of foreclosed/judicial sales currently listed.
Here are the current ones listed on MLS that I could find:
- Foreclosure/Judicial Sales, Part 1 (84 properties)
- Foreclosure/Judicial Sales, Part 2 (20 properties)
- Foreclosure/Judicial Sales, Part 3 (14 properties)
Interestingly, back in March 2008 I wrote on my blog: “Foreclosures/Judicial sales are not all that common in Calgary. There are currently 8 listed on the MLS.”
Below is a bird’s eye view of most of the SFH and Condo foreclosure locations.
Single Family Homes: Judicial Sales and Bank Foreclosures
Condos: Judicial Sales and Bank Foreclosures
What did Foreclosed or Judicial Sales Sell for in 2008?
Below is the stats for the majority of those sales*:
Average SP / LP: 94%
Highest SP / LP: 133%
Lowest SP / LP: 75%
Highest Sold Price: $1.575M
Lowest Sold Price: $167,200
Median Sold Price: $359,000
Average Square Footage: 1473
Average Price per Square Foot: $264
Highest Price per Square Foot: $590
Lowest Price per Square Foot: $131
Class / Community / Asking Price / Sold Price
| COND | FALCONRIDGE | 175,000 | 167,200 |
| COND | MARTINDALE | 225,000 | 190,600 |
| COND | SHAWNESSY | 250,000 | 251,999 |
| SF | Ogden_Lynnwd_Millcan | 252,000 | 190,000 |
| SF | Ogden_Lynnwd_Millcan | 254,900 | 246,000 |
| SF | FALCONRIDGE | 260,000 | 241,500 |
| SF | Falconridge | 268,000 | 222,786 |
| SF | Dover | 273,000 | 257,000 |
| SF | APPLEWOOD | 280,000 | 265,000 |
| SF | PENBROOKE | 299,900 | 280,000 |
| SF | ERINWOODS | 300,000 | 285,000 |
| SF | DALHOUSIE | 315,000 | 300,500 |
| SF | Ogden_Lynnwd_Millcan | 339,000 | 330,000 |
| SF | MARTINDALE | 340,000 | 451,000 |
| SF | CORAL SPRINGS | 363,900 | 340,000 |
| SF | CITADEL | 369,900 | 359,000 |
| SF | ROSSCARROCK | 384,000 | 364,000 |
| SF | Canyon Meadows | 387,000 | 370,000 |
| SF | SOUTHWOOD | 394,000 | 346,000 |
| SF | ROCKY RIDGE RANCH | 425,000 | 400,000 |
| SF | BRIDLEWOOD | 440,000 | 375,000 |
| SF | WOODLANDS | 460,000 | 460,500 |
| SF | VALLEY RIDGE | 464,900 | 450,000 |
| SF | ROYAL OAK | 465,000 | 430,000 |
| SF | ROCKY RIDGE RANCH | 479,000 | 460,000 |
| SF | RICHMOND PARK_KNOBHL | 480,000 | 385,000 |
| SF | ROYAL OAK | 499,900 | 425,000 |
| SF | SCENIC ACRES | 499,900 | 470,000 |
| SF | Renfrew_Regal Terrace | 530,000 | 500,000 |
| SF | WEST HILLHURST | 629,900 | 572,500 |
| SF | SADDLERIDGE | 1,400,000 | 1,575,000 |
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NEWS ARTICLE UPDATE
Calgary Herald, February 12, 2009
Tumbling home values boost mortgage defaults in Calgary
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*The reason I say “majority” is that foreclosed and judicial sales can be sneaky to find. In our MLXchange program, while the majority are listed as “In-Foreclosure” under the Ownership field, some are just found by searching for “judicial sale” in the private comments, and others are found by searching for bank names under the “Seller” field.
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Thanks for posting the links, I found it extremely useful.
With a 14.75x increase from March 08, do you see a over 1,000 Foreclosure/Judicial Sales from Feb 09 – Feb2010?
Mike
Mike, I received an email yesterday suggesting that I keep track foreclosure/judicial sales numbers along with the regular daily stats.
I thought it was a good idea, so starting today, we can keep our eye on it.
Great idea, I saw that today with your stats update (I track it each day). I think it may help show (as a leading indicator of) what’s happening out in the field.
Good job Mike
Mike
I’ve added the following news updates to the Calgary Condo Market Outlook for 2009 article, but I thought I’d post it here as well.
January 31, 2009 – Calgary Herald
Market Stalls Condo Project
“A Bridgeland condo project, once hailed as a shining example of inner-city development, is being put on hold because of the falling real estate market.
The first condos in the Crossings at the Bridges, a 142-unit project that’s part of the landmark Bridges development, were due to start being sold in February, with construction to follow shortly after.”
January 2009 Update – Arriva Towers
“John Torode, president of Torode Residential –which is constructing numerous condos and commercial buildings in the Beltline and has completed the arriVa tower that signals the start of the rejuvenation of Victoria Park–has changed his plans to build four condo towers in arriVa’s complex.
He had cancelled the fourth tower earlier and now has announced the third tower will be changed instead to a smaller boutique hotel.” (Source)
Mike, I reviewed your foreclosure blog. I am particularily interested in raw land, lots, and commerical property. Let me know if this is something you are tuned into and lets make a deal.
thanks,
David Heizer
Is there anywhere I can find all the active judicial sales listings in Calgary that may not be represented by a realtor?
Mike Fotiou says: Judicial sales are handled by the Court of Queen’s Bench
thank you for the info. Where can i find a free list of foreclosures in calgary.