Chestermere, AB

311 permits to build new homes were given in Chestermere in 2007.  That number was down from 636 in 2006. 

In 2007 Shane Homes had the most number of permits at 45,   Lifestyle Homes had 44 with Reid Built close behind at 43.  Jager had 35 permits. 

Landmark 29, Truman Homes had 24.  Loinsworthe Homes had 17 permits. Greenboro had 13 permits. Douglas Homes had 8 permits.  22 home permits issued were for smaller builders.  

Much of the slowdown can be attributed as response to the Town of Chestermere’s inability to keep up to the demand for servicing to the lands being developed, rather than a lack of demand.  Although December was a slow month with only six residential home permits being issued.

With Rainbow Falls and Westmere being the most active developments in Chestermere the builders in these areas had more starts. 

In Chestermere we seem to have a lot of builders and out of town real estate agents marketing lakefront property that by our definition does not qualify as lakefront!

Chestermere is a 750 acre lake 5 miles out of Calgary that you can water-ski, sail, wakeboard and have fun, fun, fun. The thing about Chestermere that distinguishes it from other lake communities in this area is of course the size, (750 acres is about 720 acres bigger than Calgary's other lake communities.), is the fact that you can run a motor boat on the lake. Not having a dock or the ability to build one, is certainly a consideration in the value of the home.

If you are truly lakefront you have a boat lift at the end of your dock, you go out and drop the boat, and away you go. If you are not lakefront, you hitch your boat to your towing vehicle, tow it to the boat launch, wait your turn in line with all of Calgary and Chestermere, show your ID (Chestermere residents do not have to pay launch fees) and then back your boat down the launch, take it off of the boat trailer, (this will involve getting wet) move it to a safe place while you look for a place to park your vehicle. That should not be a major hassle, but there is not enough parking at the boat launch and there is no place to tie your boat. There are there bumpers along the concrete wall to protect your boat. Maybe it would just be easier to stay in bed!

Can you see why a true lakefront home would be more desirable, therefore more expensive?

If you are considering paying over $900K for a home in Chestermere and you are a boater, please contact us. We are Lakefront Specialists. We know the topography of the lake, we know which locations have natural sand, and deep water. We know all about the lake and the lake management with the water provider W.I.D. We have sold more lakefront homes on Chestermere Lake than anyone has. We have been lakefront owners since 1991. We water ski, sail, wake board, fish, swim, kayak, skate, and play on or in Chestermere Lake.

If you want to go it alone, or to deal direct with a builder, these are the addresses that are lakefront. Cove Road, odd numbers below 300, East Chestermere odd numbers, West Chestermere even numbers.

Where are the buyers? Chestermere Is Their Market!

With prices very competitive what this market needs is more buyers! Seller's who priced their homes competitively sold. In January 15 homes sold in Chestermere. Inventory levels started off at a reasonable pace with about 80 listings in the first week of the month. As more and more homes were listed the market became more and more of a buyers market. We ended the month with 109 active listings, 5 pending sales and 15 scolds. At these numbers we are looking at 5 months of inventory. There is a good selection of homes for sale in all price ranges and styles. Bargains are being snapped up by savvy buyers. The lowest priced paid was $280,000 for a three bedroom townhouse. The highest price paid for a home was $970,000. The average sold price was $567,000.

Internet activity on our website (http://www.chestermererealestate.com/) is running about 300 visitors per day. This suggests to me that there is a lot of interest in the market, and buyers are wondering when they should jump in. The market for buyers is great right now, and now is the only market we ever know!

As a resident of Chestermere for the past 16 years I know that it is not just a great place to live in the Summer, but all year around.  This year the ice on the lake froze on a quiet day making for great ice.  The town has plowed a path around the lake and residents are enjoying skating around the lake.  To get around the entire lake is quite a feat as the lake is 3.5 miles long by ½ mile wide.  I have not made it all the way around this year yet, but I am working on it.  It is a great way to get some exercise and to say hello to your neighbors on the path as they enjoy Chestermere living as well. 

On Christmas eve the town put on askating party with hot chocolate, a fire and music and light for skating.  Many families attended.  Some enjoyed the Christmas service at the community centre put on by the Chestermere Christian Fellowship.

Of the 138 listings that were active in Chestermere in December 2007 11, sold. There were also 3 sales pending at month end. 40 listings had either expired or were terminated during the month.

In December 2006 there were 118 listings with 14 sales, 4 sales were pending at month end. During the month 14 listings either expired or were terminated

The difference in sales did not vary greatly between the two years. The largest difference was in the number of homes listed.

In the last quarter of 2007 the inventory levels have risen to the highest levels ever. The town is larger than ever, so this does make sense to some extent. Chestermere as did the entire Calgary area had inventory levels that were too high.

November was also slower in 2007 with only 12 sold listings and 3 pending sales. October 2007 had 19 sales and 3 sales pending. The same number as in 2006.

As of January 4, 2008, the homes for sale have dropped as they traditionally do this time of year. As of this date there are 83 active listings in Chestermere. This is a healthy number for this market. Hopefully we can turn these homes before too many more are added to the inventory.

There is a lot of interest in the market as the buyers and sellers are both trying to understand this market. We are seeing about 250 visitors per day to ChestemereRealEstate.com during December 2007. We will be following the market carefully as we always do. Stay tuned for more information on the Chestermere Real Estate market.