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February Real Estate Statistics

Mon, 02 Mar 2026 19:40:12 GMT

Calgary continued to see market conditions vary by property type in February. The tightest conditions occurred in detached and semi-detached properties, reporting less than three months of supply. Row homes reported slightly higher supply levels relative to demand but remained relatively balanced. Meanwhile, apartment-style properties are dealing with excess supply, as conditions continue to favour the buyer.

“Slowing migration levels are coming at a time when supply for apartment-style homes is rising. Calgary reported record high starts last year, mostly due to gains in apartment starts where there are nearly 18,000 units currently under construction. While a large share of the units is targeted for rental, this also impacts condo ownership markets,” said Ann-Marie Lurie, CREB®’s Chief Economist. “Meanwhile, on the opposite end of the spectrum, the detached market remains relatively balanced in the higher price ranges and continues to struggle with limited supply for homes priced below $700,000.”

Tighter conditions for detached homes offset the higher supply levels in the apartment condominium sector, leaving citywide conditions relatively balanced at three months of supply and a sales-to-new-listings ratio of 55 per cent. Inventory levels reached 4,822 units in February, with condominiums and row homes representing more than half of all the inventory. At the same time, there were 1,526 sales in February, an 11 per cent decline over last February, mostly due to a sharp pullback in row and apartment sales.

Typical seasonal patterns tend to drive monthly gains in prices early in the year following the monthly slides reported at the end of the previous year. While February did report monthly benchmark price gains for most property types, prices continued to slide for apartment-style homes. However, monthly gains for lower-density homes offset the pullbacks for apartment units, leaving the total residential benchmark price of $560,500 one per cent higher than January, but still four per cent lower than last year's levels.

Airdrie

Sales and new listings totalled 122 and 236 units, respectively, in February, causing the sales-to-new-listings ratio to rise to 52 per cent. At the same time, inventories increased slightly over the previous month and last year, pushing above long-term trends. However, with just over three months' supply, conditions are considered relatively balanced. The unadjusted benchmark price was $512,200 in February, similar to the previous month, but still five per cent lower than last year's levels. Increased competition from the new home sector, along with increased supply choice in both Calgary and other surrounding areas, has contributed to some of the price adjustments that have occurred in Airdrie.

Cochrane

The gains in sales in February helped offset the new listings in the market. With 91 sales and 154 new listings, the sales-to-new-listings ratio rose to 59 per cent, preventing any significant shift in inventory levels. This caused the market to shift toward more balanced conditions with three months of supply. As of February, the total residential benchmark price was $553,500, slightly higher than January, but due to pullbacks mostly in the third quarter of 2025, prices remain three per cent lower than last February.

Read the full release here www.creb.com/News/Media_Releases/2026/March/February_2026_Stats/. Connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

New property listed in Bankview, Calgary

Thu, 26 Feb 2026 09:48:04 GMT

I have listed a new property at 2126 18A STREET SW in Calgary. See details here

This fully renovated 1431 sq ft home offers the quintessential rooftop entertaining experience beneath the city skyline. Situated in Calgary’s highly sought-after inner-city community of Bankview, the home features an expansive 450 sq. ft. private rooftop patio boasting panoramic views extending across the downtown core. This rooftop space serves as an exceptional venue for any occasion, from summer soirées and barbecues to enjoying evening cocktails or relaxing during leisure time. The interior showcases a modern, sophisticated layout, comprising three bedrooms and two fully remodeled bathrooms, ideal for various uses such as co-habitation, a dedicated home office, or a creative studio. The open-concept kitchen is designed for social interaction, featuring quartz countertops, stainless steel appliances, and island seating that seamlessly connects with the bright, airy living room, complete with an electric fireplace and a stylish feature wall. The upper level provides access to two bedrooms and a full bathroom, both conveniently linked to the private rooftop retreat. The main floor includes an additional bedroom or office, a second full bathroom, and a practical mudroom. The walkout basement opens onto a landscaped yard, enhanced with mature fruit trees, providing an ideal setting for outdoor gatherings or tranquil repose. A heated garage offers enhanced versatility, suitable for use as a gymnasium, studio, or workspace. Additional amenities include two separate washer/dryer hookups located on the main floor and in the walkout basement. This home was extensively remodeled and renovated in the last 5 years which includes: All plumbing and electrical including new furnace and hot water tank. Completely remodeled kitchen and bathrooms, new composite deck and all exterior redone such as stucco, stairs, fence and landscaping. All windows and doors, interior exterior doors replaced, new flooring, all new drywall inside with new insulation inside the walls, LED pot-lights with dimmers, stair and cabinet toe kick lighting and so much more.

January Real Estate Statistics

Mon, 02 Feb 2026 20:45:59 GMT

The CREB® stats are out, showing that Calgary reported 1,234 sales in January, a year-over-year decline of 15 per cent, but in line with typical levels of activity for the month. While sales declined across all property types, the steepest declines occurred in higher-density homes.

“Following the typical December slowdown, potential buyers for high-density homes were more hesitant to return to the market in January, as increased supply choice across all aspects of the market has reduced the sense of urgency,” said Ann-Marie Lurie, CREB®’s Chief Economist. “At the same time, sellers were quick to bring their listings onto the market, causing the sales-to-new-listings ratio to drop to 44 per cent, mostly due to shifts in apartment and row-style homes. Overall, this is not entirely uncommon for January, as both buyers and sellers weigh their options ahead of the spring market.”

The rise in new listings compared to sales caused inventory levels to increase to 4,391 units, the highest January level since 2020. However, as with sales, conditions vary by property type, with row and apartment homes facing higher levels of inventory compared to long-term trends. The result is months of supply that ranges from under three months in the detached sector to five months for apartment-style homes.

Due to declines in the later part of 2025, benchmark prices are lower than levels reported at the start of last year. However, seasonally adjusted figures point to stable levels in January compared to the end of 2025. Nonetheless, year-over-year total residential benchmark prices have declined by nearly five per cent, as steep declines reported in the oversupplied row- and apartment-style homes weighed on total residential prices compared to last year.

Airdrie

While down from last January, sales activity remained relatively strong. With 106 sales and 227 new listings, the sales-to-new-listings ratio dropped to 47 per cent, slightly lower than typical for January. This resulted in some further gains in inventory levels, keeping the months of supply just above three months and in line with long-term trends. The unadjusted benchmark price was $513,900, reporting a modest monthly gain consistent with seasonal trends. However, thanks to pullbacks last year, prices remain five per cent lower than levels reported in January 2025.

Cochrane

New listings rose to 149 units, the highest level ever reported in January. With only 54 sales, the sales-to-new-listings ratio dropped to 36 per cent, causing inventories to rise and keeping months of supply at five months. After several months of slightly higher months of supply, prices have trended down on a month-over-month basis for three consecutive months. As of January, the unadjusted benchmark price was $550,800, nearly two per cent lower than both December and the start of last year.

Okotoks

Okotoks continues to struggle with lower inventory levels compared to long-term trends, limiting sales activity. January reported 33 sales and 52 new listings, resulting in a sales-to-new-listings ratio of 63 per cent and keeping inventory levels low at 79 units. The months of supply remained just above two months, and prices remained relatively unchanged compared with the previous month. However, thanks to some price adjustments last year, the total residential benchmark price of $599,500 in January was two per cent lower than levels reported last year.

Read the full release here www.creb.com/News/Media_Releases/2026/February/January_2026_Stats/ Connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

New property listed in Braeside, Calgary

Wed, 28 Jan 2026 09:50:58 GMT

I have listed a new property at 318 10120 Brookpark BOULEVARD SW in Calgary. See details here

Discover this Rare Main Floor Corner Unit in Brookpark Gardens! This 3-bedroom, 1.5-bathroom corner unit is a rare find in Brookpark Gardens (Building 3N). Boasting a large, bright, and airy open-concept floor plan, the living and dining rooms greet you immediately upon entry. Exceptional Outdoor Living & Features: Step out onto your expansive 21’8” x 13’2” walkout patio, accessible via two sets of sliding doors from both the living room and the primary bedroom. This private outdoor retreat faces a serene green space, perfect for your morning coffee or hosting friends and family BBQs. For those cold winter nights, cozy up in front of the natural stone, wood-burning fireplace. Functional Layout & Storage: The functional kitchen provides ample cupboard and counter space for all your family meal preparation. The large primary bedroom features a 2-piece ensuite bathroom and direct access to the patio. The two additional bedrooms offer flexibility, whether you need space for a family, guests, or a dedicated home office. The unit includes two large storage units: one inside the home and one conveniently located just off the patio. Unbeatable Location & Convenience: Enjoy the ultimate in convenience with an unbeatable location. The property is only a 5-minute walk to the Southland Leisure Centre and just a short drive to several parks: 4 minutes to South Glenmore Park and 2 minutes to Braeside Park and the Braeside Tennis Courts. Nearby supermarkets, public transport, and schools make day-to-day living incredibly easy. Your assigned parking stall (#318) is literally facing your front door for maximum accessibility. An Ideal Opportunity: Whether you are searching for your first home or a strong investment, this condo delivers comfort, convenience, and location. While the home has been a reliable long-term rental and could benefit from some cosmetic updates, it offers a solid foundation and a bright, open-concept layout. Currently occupied by a wonderful, long-term tenant who is happy to stay, this unit is perfectly suited for first-time buyers or savvy investors!

New property listed in Cedarbrae, Calgary

Sat, 24 Jan 2026 09:45:35 GMT

I have listed a new property at 206 Cedarwood PARK SW in Calgary. See details here

Discover the perfect harmony of nature and urban convenience in this charming end-unit townhome. Situated in an impeccably maintained, pet-friendly complex, this home offers a private deck backing directly onto a lush green space filled with mature trees and quiet walking paths. As soon as you step onto the main floor, you’ll be impressed by the cheerful, sun-drenched open floor plan that feels instantly inviting. The expansive living and dining area is anchored by a cozy gas fireplace—perfect for romantic evenings—and features elegant bay windows that enhance the sense of space. The functional kitchen includes its own breakfast nook with a bay window and leads directly to your private back deck 20’0” X 8’2” ft/in, where you can enjoy peaceful morning coffee and tranquil views of the green space. With over 1,359 sq. ft. above grade, the upper level is specifically designed for a lifestyle of growth and versatility. You’ll find a massive Primary suite and a second spacious bedroom, but the true highlight is the flexible bonus/loft room. Currently used as a bright home office space, it can easily be converted into a formal third bedroom with a closet. The living space extends even further to the lower level and beyond, featuring a fully finished basement with a massive recreation room (21'2x10'10)—ideal for a "man cave" or home theatre—plus a large laundry room with abundant storage. Convenience is truly at your doorstep with an assigned parking stall located right outside your front entrance and plenty of guest parking nearby. This complex is exceptionally well-maintained and professionally managed. Over the last few years, the building exteriors have been completely upgraded, including new siding, shingles, decks, and railings. This extensive work was funded entirely through the reserve fund, allowing the complex to maintain remarkably low condo fees of $370. These fees cover all exterior maintenance, snow removal, grounds maintenance and landscaping, and contributions to the reserve fund. Nestled in an exceptional location, this home allows you to enjoy an active lifestyle with South Glenmore Park, bike paths, and off-leash dog parks just minutes away. This community is a commuter’s dream: walk to local elementary and junior high schools, access the new Ring Road in seconds, and reach downtown Calgary in just 20 minutes.

New property listed in Waiparous

Fri, 16 Jan 2026 09:36:08 GMT

I have listed a new property at 16 Forestry TRAIL W in Waiparous. See details here

ACREAGE RETREAT NEAR THE ROCKIES: YOUR COUNTRY ESCAPE WITH MODERN COMFORT. Discover the perfect blend of country living and convenience with this rancher-style bungalow, ideally situated only 30 minutes from Cochrane with the Rocky Mountains right on your doorstep. This is an unparalleled opportunity to own a peaceful retreat at a very reasonable price. SERENITY AND NATURE : Experience true tranquility. This 1380 sq ft home offers peace and quiet, with the soothing sound of the river flowing in your backyard. Watch deer graze as you enjoy the natural beauty surrounding you. RUSTIC CHARM MEETS UNIQUE ARCHITECTURE: Step into a home where rustic charm inspires. The open-concept design is anchored by a magnificent floor-to-ceiling brick fireplace, creating a warm, cohesive aesthetic. On one side, the 13-foot vaulted living room ceiling provides a cozy space to enjoy the crackling warmth of a wood-burning fire. On the other, the masonry transitions into a stunning brick cooking alcove in the kitchen, connecting the home's various spaces seamlessly from your morning coffee to evening relaxation. This unique home is meticulously maintained and offers a well-thought-out layout, including a dining room, a very large den, and an all-season sunroom. It features two bedrooms and two full baths. The primary bedroom quarters are nicely separated for privacy and include a separate entrance, offering the potential for a home business or an income-generating rental space. Recent upgrades enhance the home's value, including new vinyl plank flooring throughout, new insulation in the crawl space, and a deicer installed on the North side of the roof. The 24.5’ X 14” rear deck is perfect for entertaining, featuring ample space for a large BBQ and gathering, along with a relaxing sauna. Included in the price are two massive sheds (16’x12’ and 8’x18’), currently used as a shop and for additional storage and a log splitter. For the outdoor enthusiast, this is a dream come true. With 40 km of groomed trails, camping, fishing, hiking, mountain biking, and cross-country skiing literally on your doorstep, adventure awaits. The property is within walking distance of two rivers and the confluence of the Waiparous Creek and Ghost River. A short drive will take you to the Ghost Lake recreation area and further on to Canmore. Don't miss this little gem—opportunities like this don't come around often!

December Real Estate Statistics

Sun, 04 Jan 2026 17:23:37 GMT

The December real estate statistics have been released by CREB®, with them saying that, following several years of strong price growth, 2025 marked a year of transition thanks to strong demand and limited supply. Due to record high starts, supply levels improved across all aspects of the housing market, just as demand pressure eased due to a reduction in migration levels and heightened unit certainty that persisted throughout the spring market. This helped shift the resale market from one that favoured the seller to one that was more balanced.

In 2025, sales reached 22,751 units, down 16 per cent over last year, but in-line with long-term trends. Much of the shift came from the growth in supply. 2025 saw over 40,000 new listings come onto the market, nine per cent higher than last year, causing inventories to rise and driving more balanced conditions.

“Supply levels were expected to rise in 2025. However, the growth was higher than expected especially for apartment condominium and row homes. This weighed on prices in those sectors enough to offset the annual gains reported for both detached and semi-detached homes,” said Ann-Marie Lurie, CREB®’s Chief Economist. "Adjustments in both supply and demand varied across the city, with pockets of the market continuing to experience seller’s market conditions versus some areas where the conditions favoured the buyer. This resulted in different price trends based on location, price range and property type.”

Overall, the annual average total residential benchmark price in 2025 was $577,492, two per cent lower than last year’s annual average. However, annual detached and semi-detached prices rose by a respective one and three per cent, while apartment and row homes saw prices fall by a respective three and two per cent.

Compared to other districts, the North East reported the largest decline in prices this year. While some of this is related to improved supply across all areas of the city, it is also important to note that the North East district also reported the strongest price growth over the past two years.

For the first time in three years, we are heading into the New Year with better inventory levels. Details on what is expected to happen in the market in 2026 will be released at CREB®’s annual Forecast Conference on Jan. 20, 2026.

Increased competition from the new home market, along with more supply options in competing resale markets, has contributed to the added supply in the resale market in Airdrie. Following four consecutive years of exceptionally low inventory levels, 2025 saw inventory rise to levels not seen since prior to the pandemic. While sales activity did remain in line with long-term trends despite an annual decline, the push up in inventories caused the months of supply to generally rise throughout the year. Overall, the annual average benchmark price eased by two per cent this year.

Sales in Cochrane were similar to last year and above long-term trends. While demand stayed relatively strong in the town, steady gains in supply did cause conditions to shift to a more balanced state by the end of 2025. With the shift occurring later in the year, we did not see the same downward pressure on prices. In fact, on an annual basis the benchmark price in Cochrane was $578,325, nearly three per cent higher than last year. Cochrane also tends to see a larger share of newer properties being listed and sold on the resale market, impacting the prices in the resale market.

Okotoks continued to struggle with supply growth. Inventories did rise by over 40 per cent, but levels were exceptionally low last year. Even with the gain in 2025, levels were still 30 per cent below long-term trends. Sales activity in the town remained consistent with the levels reported last year and were higher than long-term trends. The persistently low inventory levels generally kept market conditions relatively tight. However, total residential prices posted only a modest gain over last year, this is likely due to compositional shifts as price growth ranged from over one per cent for detached homes to nearly eight per cent for apartment condominium product.

Read the full release here https://www.creb.com/News/Media_Releases/2026/January/December_2025_Stats/ Connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

November Real Estate Statistics

Tue, 02 Dec 2025 01:00:11 GMT

The final stats release of 2025 was posted by CREB®, saying, in line with typical seasonal trends, sales, new listings and inventory levels all slowed relative to last month. The 1,553 sales were met with 2,251 new listings, causing the sales-to-new-listings levels ratio to improve to 69 per cent. This also helped support some of the inventory adjustment. However, with 5,581 units in inventory, levels are still 28 per cent higher than last year and over 15 per cent higher than typical levels reported in November.

“Supply levels have been sitting higher than typical levels for the past three months, mostly due to the gains occurring in the higher-density sectors of row and apartment style units,” said Ann-Marie Lurie, CREB®’s Chief Economist. “This is partially related to the additional supply choice coming from the new homes sector, some of which end up on the resale market, especially near the end of the year. While buyer’s market conditions are more prevalent for apartment-style homes and to a lesser extent row homes, outside of a few pockets of the market, both the detached and semi-detached markets are relatively balanced.”

The additional supply choice across resale, new and rental markets, is having the most impact on apartment and row style home prices which are reporting year-over-year price declines of seven and six per cent. In comparison detached home prices are down by two per cent compared to last November, but still higher than last year when looking at year-to-date figures. Overall, the unadjusted total combined residential benchmark* price in November was $559,000, nearly five per cent lower than last year.

*To keep the benchmark price relevant, once a year the attributes of a benchmark home are reviewed and the benchmark prices are updated. The review has been completed and the data has been updated. While all historical adjustments have occurred, old PDF monthly reports are not adjusted.

Airdrie

As per typical seasonal behaviour, sales, new listings and inventory levels all eased over levels reported last month. Overall, both sales and new listings have remained at levels consistent with long-term trends for the month, but thanks to earlier gains inventory levels remain elevated for November. Some of the rise is due to a higher share of newer homes coming onto the resale market. The additional supply over the past several months has weighed on prices in Airdrie. While it has by no means offset the gains reported over the past four years, year-to-date benchmark prices for detached homes are down by nearly one per cent compared to last year.

Cochrane

The seasonal monthly pullback in new listings was not enough to prevent November levels from reaching a record high. While sales also remained relatively strong for November, it was not high enough to cause a more significant monthly pullback in inventories, which have not been this high in November since 2018. Some of the gains in new listings were due to a larger share of new homes being listed on the resale market. While recent gains in supply have caused some adjustments in price, prices continue to remain higher than levels reported last year. Year-to-date detached benchmark prices are nearly two per cent higher than levels reported last year.

Okotoks

Unlike other areas, sales in Okotoks improved compared to last month and were similar to levels reported last year. This in part could be related to the higher level of new listings that were available both in November and October, providing more choice to potential buyers. The Okotoks market has seen some recent gains in inventory levels, but overall supply remains well below long-term trends. Conditions have remained relatively tight in the Okotoks market and, despite some recent adjustments in prices, overall prices are still higher than last year on a year-to-date basis across each property type.

Read the full release here https://www.creb.com/News/CREBNow/2025/December/december_2025_stats/?fbclid=IwVERFWAObFHhleHRuA2FlbQIxMABzcnRjBmFwcF9pZAo2NjI4NTY4Mzc5AAEeEttV54RW5C6Ob6HLgGgHQZyOjr4Z2KRSf7alYez9hVicNwUfRDIhBFWFxgE_aem__ktRlRqGbQ4v0pYN-D5eJQ Connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

October Real Estate Statistics

Mon, 03 Nov 2025 20:26:35 GMT

CREB® has released the October stats, reporting that inventory levels eased over last month thanks to the combined impact of a monthly pullback in new listings and a monthly pick up in sales. With 6,471 units in inventory and 1,885 sales the October months of supply returned to three-and-a-half months after pushing up to four months in September. While both row- and apartment-style properties continue to report elevated supply levels compared to demand, conditions remain relatively balanced for both detached and semi-detached properties.

Year-to-date sales in the city totaled 20,082, down nearly 16 per cent compared to last year, but still in line with longer-term trends. Much of the decline in sales has been driven by pullbacks for apartment- and row-style homes.

“Improved rental supply and easing rents have slowed ownership demand for apartment- and row-style homes. It is also these segments of the market that have seen October inventories reach a record high for the month,” said Ann-Marie Lurie, CREB®’s Chief Economist. “Excess supply for apartment- and row-style properties is weighing on prices in those segments more so than any other property type, influencing total residential prices.”

As of October, the total unadjusted residential benchmark price in Calgary was $568,000, down nearly one per cent compared to last month and over four per cent lower than last year’s levels. The largest price adjustments occurred for row- and apartment-style properties where prices have eased by a respective six and seven per cent compared to last October.

Airdrie

Activity slowed as we moved into October. While sales have remained consistent with longer-term trends, new listings reached a record high for October, keeping inventories elevated. With 535 units in inventory and 136 sales, the months of supply remained over four months. The persistently higher months of supply over the past four months, combined with additional supply choice in the new home market, has weighed on resale home prices. Prices in Airdrie have been trending down since April of this year and as of October the benchmark price was $520,400, nearly one per cent lower than last month and nearly five per cent lower than last year’s levels.

Cochrane

Sales in Cochrane improved this month, keeping year-to-date sales at levels that are relatively consistent with last year. At the same time, while levels remained high, new listings did trend down over last month, causing the sales-to-new-listings ratio to rise to 55 per cent and preventing any further gains in inventory levels. The months of supply eased to just over four months in October, higher than the low levels reported over the past several years, but relatively more consistent with long-term trends for the month. As of October, the benchmark price was $585,200, similar to last month and over two per cent higher than last year. Year-to-date prices in the area have risen by nearly four per cent. Some of the gain in prices could be related to a larger share of new homes ending up being sold on the resale market in Cochrane.

Okotoks

October reported 91 new listings on the market, a significant gain over last month and last year’s levels. The rise in new listings was met with slower sales activity, causing the sales-to-new-listings ratio to dip below 50 per cent, supporting a modest gain in inventory levels. While inventory levels are finally improving, they remain low relative to longer-term trends. This has likely prevented a more significant shift in prices in the Okotoks area. In October, the unadjusted benchmark price was $618,600, up over last month but consistent with last October. Year-to-date benchmark prices have improved by over one per cent.

Read the full release here www.creb.com/News/Media_Releases/2025/November/October_2025_Monthly_Stats/ with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

September Real Estate Statistics

Wed, 01 Oct 2025 23:02:49 GMT

CREB® has reported that the 1,720 sales in September were not high enough to offset the 3,782 new listings coming onto the market, driving further inventory gains as we move into the fall. There were 6,916 units in inventory in September, 36 per cent higher than last year and over 17 per cent higher than levels traditionally reported in September. Both row and apartment style homes have reported the largest boost in supply compared to long-term trends.

"Supply levels have been rising in the resale, new home and rental markets. The additional supply choice is coming at a time when demand is slowing, mostly due to slower population growth and persistent uncertainty. Resale markets have more competition from new homes and additional supply in the rental market, reducing the sense of urgency amongst potential purchasers. Ultimately, the additional supply choice is weighing on home prices," said Ann-Marie Lurie, CREB® Chief Economist.

Supply levels relative to demand typically drive shifts in home prices. In September, the sales to new listings ratio dipped to 45 per cent, and the months of supply pushed up to four months for the first time since early 2020. This is a higher level of supply compared to demand than is typically seen in the Calgary market and, should this persist, we could see a market that shifts more in favour of the buyer. However, conditions do vary by property type, price range and location.

Airdrie

New listings reached a September record high with 295 units. The gains in new listings were met with a pullback in sales causing the sales to new listings ratio to fall to 45 per cent and inventory rose to 571 units. While inventories have been generally trending up throughout this year, this is the first time that the months of supply pushed above four months since 2020. The improved options weighed on home prices, which continued to trend down this month. In September, the unadjusted benchmark price was $526,000, down one per cent compared to last month and nearly five per cent lower than last year's levels. Despite recent adjustments year-to-date prices declined by just over one per cent, not enough to offset last year's annual growth of eight per cent.

Cochrane

New listings in Cochrane also hit a September record high with 148 units. While sales are similar to last year's levels at 62 units, the boost in new listings did cause the sales to new listings ratio to drop to 42 per cent this month. This led to further inventory gains and the months of supply pushed above five months. Improved supply levels also took more pressure off home prices this month. In September, the unadjusted benchmark price was $584,300, down by nearly one per cent compared to last month, but still one per cent higher than last year's levels. Much of the supply adjustment has only recently occurred in the Cochrane market and the year-to-date benchmark price remains nearly four per cent higher than last year.

Okotoks

Okotoks was one of the few larger areas that did not see a lift in new listings in September. The 69 new listings were down compared to levels reported last year, and with 51 sales this month, the sales to new listings ratio remained elevated at 74 per cent. While inventory levels were only slightly higher than last month, the months of supply has remained relatively low at two and a half months. Despite the relatively tight conditions, prices continued to adjust in the market. This in part can be related to the competition from new properties, impacting resale prices. As of September, the total residential benchmark price was $613,900, down by over one per cent compared to last month and nearly three per cent lower than last September. Despite the adjustment, on a year-to-date basis, prices were still one and a half per cent higher than last year.

Read the full release here www.creb.com/News/Media_Releases/2025/October/September_2025_Stats/ and connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

August Real Estate Statistics

Tue, 02 Sep 2025 18:49:55 GMT

The August statistics were released by CREB®, saying that improving supply choice has changed the dynamics of the Calgary market driving price declines over the past several months.

Higher price adjustments are occurring for apartment and row style properties while detached and semi-detached properties have reported modest declines. As of August, the unadjusted total residential benchmark price was $577,200, down over last month and nearly four per cent lower than levels reported last year.

“Perspective is needed when it comes to price adjustments. The most significant price adjustments are occurring for row and apartment style homes as they are also the product type that are facing the largest gains in supply choice,” said Ann-Marie Lurie, Chief Economist at CREB®. “Meanwhile price adjustments in the detached and semi-detached markets range from modest price growth in some areas to larger price declines in areas with large supply growth. Overall, recent price adjustments have not offset all the gains that have occurred over the past several years.”

August reported 1,989 sales, nearly nine per cent lower than last year. Sales have slowed compared to the high levels reported over the past four years. However, activity is still above long-term trends, reflecting relatively strong demand. What has changed is the supply situation. New listings remain elevated, keeping the sales-to-new-listings ratio below 60 per cent and pushing inventory to 6,661, the highest August amount since 2019.

More inventory choice coupled with lower sales has caused the months of supply to rise to 3.4 months in August, much higher than the sellers' market conditions reported over the previous four years, but still well below the buyer market conditions observed prior to the pandemic. While the market is much more balanced compared to last year, there is significant variation depending on property type, price range and location.

Airdrie

Easing sales in August contributed the year-to-date decline of 12 per cent for 1,248 sales so far this year. The 152 sales this month was met with 265 new listings, pushing the sales-to-new listings ratio up to 57 per cent and preventing any further monthly inventory gains. As of August, there was 535 units in inventory, above long-term trends and the highest levels reported since before the pandemic. The rise in supply has helped shift the market to more balanced conditions. However, with more supply options in both the new home, resale markets and in competing locations, there has been some downward pressure on prices in Airdrie. In August, the unadjusted total residential benchmark price was $531,100, down over last month and four per cent lower than levels reported last August.

Cochrane

The 70 sales this month were met with 139 new listings causing the sales-to-new listings ratio to fall to 50 per cent, the lowest ratio reported for August since 2015. The pullback in sales compared to new listings prevented any significant shift in inventory levels, pushed the months of supply up above four months. Despite the shift this month, prices in Cochrane remained relatively stable in August, with the unadjusted benchmark price sitting at $589,100, similar to last month and nearly two per cent higher than last year. On a year-to-date basis prices are four per cent higher than the previous year.

Okotoks

New listings in August reported a significant pullback relative to sales and the sales-to-new-listings ratio pushed up to 80 per cent. While sales have generally remained in line with long-term trends, new listings have not had the same increase that other areas have reported, preventing significant gains in inventory levels. As of August, there was 116 units in inventory, a 29 per cent gain over last year, but still 30 per cent lower than levels traditionally seen in August. Despite tighter conditions, prices have reported some monthly declines. However, year-to-date benchmark prices remained two per cent higher than last year’s levels, with gains reported across each property type.

Read the full release here www.creb.com/News/Media_Releases/2025/September/August_2025_Stats/ and connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

July Real Estate Statistics

Fri, 01 Aug 2025 20:50:42 GMT

The Calgary Real Estate July statistics report that, thanks to gains mostly occurring in the newer communities, inventory levels in July were 6,917 units, reaching levels not seen since prior to the pandemic and higher than long-term trends. While supply has improved across all property types and all districts, the largest gains are occurring in the areas where there has been new community growth.

The additional supply has weighed on home prices in some parts of the city. The total residential benchmark price in Calgary has trended down over the past several months and is currently four per cent below last year's peak price reported in June 2024.

"Price declines are not occurring across all property types in all locations of the city, and even where there have been declines, it has not erased all the gains made over the past several years," said Ann-Marie Lurie, Chief Economist at CREB®. "The steepest price declines have occurred for apartment and row style homes, mostly in the North East and North districts, which coincides with significant gains in new supply."

The rise in supply occurred as sales continued to slow and new listings improved. In July, there were 2,099 sales, a 12 per cent decline over last year, while new listings reached 3,911 units, an over eight per cent increase over last year. In addition to the persistent economic uncertainty due to tariffs, sales and new listings were impacted by no further reductions in lending rates and added competition from the new home market. Apartment-style homes are reporting the highest months of supply with over four months, while both detached and semi-detached homes are seeing conditions remain relatively balanced at just three months of supply.

Airdrie

Due to declines in both row and apartment sales, July sales slowed by 14 per cent compared to last July, contributing to the year-to-date decline of 12 per cent. While sales have slowed, activity remains higher than levels reported prior to 2021. What has changed is the significant improvement in new listings, resulting in inventory gains. As of July, inventory levels rose to 543 units, the highest July reported since the peak in 2018. The higher inventory levels kept the months of supply above three months in July, placing some downward pressure on home prices. In July, the benchmark price was $532,800, nearly four per cent lower than levels reported last year at this time. However, last year's gains were exceptionally high earlier in the year, and on a year-to-date basis prices are only slightly lower than last year.

Cochrane

Unlike other areas, Cochrane has not seen the same level of pullback in sales compared to long-term trends. While July sales were down by seven per cent, year-to-date sales are two per cent lower than last year and 23 per cent higher than long-term trends. New listings in July did reach a record high for the month, causing inventories to push to the highest level reported for the month since 2019 and causing the months of supply to rise above three months. While this likely contributed to some of the monthly decline in price, unlike other areas the July benchmark price of $590,000 was over two per cent higher than last year, and four per cent higher on a year-to-date basis.

Okotoks

This market continues to exhibit tighter market conditions than both Airdrie and Cochrane with a sales-to-new-listings ratio of 71 per cent and months of supply at just over two months. This is a significant improvement compared to the previous four years, where the months of supply in July was just over one month. In July, the benchmark price in the area was $628,500, slightly lower than last month, but higher than last year's level. Despite some monthly fluctuations, year-to-date prices are over two per cent higher than last year.

Read the full release here www.creb.com/News/Media_Releases/2025/August/july_2025_stats/ and connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

June Real Estate Statistics

Wed, 02 Jul 2025 18:38:37 GMT

The real estate stats for June have been released by CREB®, reporting that inventory levels in June continued to rise, both over last month’s and last year’s levels. By the end of the month, inventory reached 6,941 units, returning to levels reported in 2021, or prior to the surge in population growth.

While sales have remained consistent with long-term trends despite a decline from recent months, higher levels of new listings compared to sales have contributed to the inventory gain. All property types have reported gains in inventory, but both row and apartment style homes reported inventory levels over 30 per cent higher than long-term trends, while supply for detached and semi-detached units are only slightly higher than typical levels.

“Supply has improved across rental, resale and new home markets, allowing for more choice for those considering their housing options,” said Ann-Marie Lurie, Chief Economist at CREB®. “The additional choice combined with no further declines in lending rates, persistent uncertainty and concerns of price adjustments is keeping many potential purchasers on the sidelines. This is weighing on home prices, especially for apartment and row style homes.”

The unadjusted benchmark price was $586,200 in June, lower than last month and over three per cent lower than last year. Much of the citywide decline was driven by apartment and row style homes, which are over three per cent lower than last year. Meanwhile, detached prices have remained relatively stable and semi-detached homes are still slightly higher than last year.

The steeper price declines for apartment and row style homes are reflective of those segments shifting toward a market that favours the buyer with nearly four months of supply. Meanwhile conditions are relatively balanced for detached and semi-detached homes. Overall conditions in Calgary have changed, but not enough to erase the significant growth in prices that have occurred over the past four years.

Airdrie

Thanks to a sharp decline in detached activity, sales in June fell to 164 units. The pullback in sales was met with 324 new listings, causing the sales-to-new listings ratio to drop to 51 per cent, the lowest ratio reported in June since 2018. The wider spread between sales and new listings drove further inventory gains and for the first time since 2020 the months of supply was above three months. The additional supply choice has weighed on resale prices, which have trended down for the second consecutive month. In June the benchmark price was $538,300, nearly three per cent lower than levels seen last year at this time.

Cochrane

Gains for detached and semi-detached sales were offset by pullbacks for row and apartment units, as June sales remained relatively unchanged over last year. The 101 sales in June were met with 171 new listings and the sales-to-new listings ratio rose to 59 per cent. This slowed the pace of inventory growth, keeping the months of supply just below three months. While conditions are more balanced than they have been, prices in the area continue to rise albeit at a slower pace. As of June, the unadjusted benchmark price was $593,700, nearly one per cent higher than last month and four per cent higher than last June.

Okotoks

While levels are better than last year, both sales and new listings trended down in June, causing the sales-to-new listings ratio to rise to 87 per cent. This prevented any further monthly inventory gains and ensured that the months of supply remained below two months in June. While conditions remain tight in Okotoks, more supply in the broader region has likely prevented stronger price growth in the Town of Okotoks. As of June, the unadjusted benchmark price was $632,800, similar to last month and nearly three per cent higher than last year.

Read the full release here www.creb.com/News/Media_Releases/2025/July/june_2025_stats/ and connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

New property listed in Airdrie, Airdrie

Wed, 18 Jun 2025 09:14:29 GMT

I have listed a new property at 155 Croxford ESTATES NE in Airdrie. See details here

This exceptional custom-built bungalow, nestled on 4 acres within the esteemed Estate community of Croxford Estates, offers an idyllic blend of serene country living and unparalleled convenience, located just 5 km from downtown Airdrie and a mere 20-minute drive to Calgary. Boasting fully paved access directly to the property via a circular driveway, this SE facing haven overlooks majestic mountains, complemented by beautiful mature trees and meticulously maintained landscaping. For those dreaming of an ultimate mechanic's garage and workshop, this property delivers beyond expectation. It features 2 oversized attached garages seamlessly accessible from the main floor: a front attached 24x25 garage and a rear tandem 24x26x31 garage equipped with an 11’ door, providing ample space for vehicles and projects. The crowning jewel for any enthusiast is the magnificent 40x60 shop, boasting a durable concrete floor, three 10' x 10' doors, and three skylights that flood the space with natural light – truly a perfect domain for hobbies, storage of all dad's toys, trailers, or boats. The warm and inviting bungalow itself spans nearly 1815 square feet on the main floor, complemented by a fully developed 1575 square foot basement, creating a total of over 3300 square feet of finished living space. Its traditional floor plan exudes elegance, showcasing exquisite custom-built oak woodwork, crown molding, and a charming stone fireplace. The main floor welcomes you with a front den/office, featuring a beautiful oak French door that leads into a grand formal dining room, easily accommodating a table for twelve or more guests. The kitchen gracefully overlooks the great room, which is anchored by another beautiful stone fireplace and double sliding doors that open to a sunny SE-facing deck, offering picturesque views of the mountains and expansive open space. This level also includes a 4piece bath with a jetted tub and 2 comfortably sized bedrooms, notably a very generous primary retreat complete with a walk-in closet and a 3piece ensuite. A wide, gracefully curved staircase descends to the fully developed basement, where a massive media room awaits, alongside two large additional bedrooms, a dedicated exercise room, and another 3piece bath, providing an ideal teenage retreat or guest accommodation. Dog lovers will rejoice in the thoughtful inclusion of a very nice and large fenced dog run, offering complete shade for your beloved pouches. This estate home truly caters to the entire family, providing abundant room for children to play, dedicated spaces for hobbies, and a fantastic dog run. Its prime location ensures you are only minutes away from schools, convenient public transportation, bustling shopping centers, and all essential amenities, making it a perfect blend of rural tranquility and urban accessibility. Recent updates include most main floor windows, rear garage heater/light and doors replaced about 3 years ago, the furnace motor about 6 years ago, and shingles 8 years ago

New property listed in Evergreen, Calgary

Fri, 06 Jun 2025 09:13:30 GMT

I have listed a new property at 627 Everridge DRIVE SW in Calgary. See details here

OPEN HOUSE SUNDAY JUNE 8TH FROM 1PM TO 4PM. Nicely maintained and upgraded, this home shows pride of ownership from the moment you step in. This meticulously maintained and significantly upgraded residence demonstrates a profound commitment to quality and diligent ownership. The property features a spacious, open-concept main floor characterized by abundant natural illumination, achieved through large windows. This area is optimally designed for social gatherings and is distinguished by a remodeled kitchen (2022) serving as the focal point. The kitchen is equipped with a massive central island, generous quartz countertops, stainless steel appliances, and a sizable pantry. Adjoining the kitchen is a private deck measuring 20'0" x 10'0", which provides access to a low-maintenance rear yard and an oversized double detached garage (24'0" x 22'0") constructed in 2020. The upper floor encompasses a generous size primary bedroom, featuring a walk-in closet and a remodeled three-piece ensuite bathroom. The ensuite has been upgraded with a walk-in shower, low-flow toilet, quartz countertop, and custom medicine cabinet. Additionally, two further bedrooms and a four-piece bathroom are situated on this level, accommodating familial or guest requirements. The basement remains in an unfinished state, presenting opportunities for storage or future development. Recent enhancements to the property include comprehensive interior repainting with designer colors in 2022, new flooring throughout and the installation of new shingles also in 2022. The location of the residence offers close proximity to essential amenities, including schools, shopping centers, and readily accessible public transportation. Stoney Trail and Costco are within a few minutes drive, and Fish Creek Park is situated nearby. Located within the Evergreen community, the area is highly suitable for diverse lifestyles and family needs.

Open House. Open House on Sunday, June 8, 2025 1:00PM - 4:00PM

Fri, 06 Jun 2025 09:13:30 GMT

Please visit our Open House at 627 Everridge DRIVE SW in Calgary. See details here

Open House on Sunday, June 8, 2025 1:00PM - 4:00PM

May Real Estate Statistics

Mon, 02 Jun 2025 19:05:02 GMT

Thanks to steep pullbacks in the apartment condominium sector, total residential sales in Calgary eased by 17 per cent compared to May of last year. While the drop does seem significant, the 2,568 sales this month remain 11 per cent higher than long-term trends for May and improved over last month.

New listings continued to rise this month compared to sales, resulting in further gains in inventory levels. However, the monthly gain in both inventory and sales prevented any significant change in the months of supply compared to April. With 2.6 months of supply, conditions are still relatively balanced.

“Compared to last year, easing sales and rising inventories are consistent trends across many cities, as uncertainty continues to weigh on housing demand. However, prior to the economic uncertainty, Calgary was dealing with seller market conditions, and the recent pullbacks in sales and inventory have helped shift us toward balanced conditions taking the pressure off prices,” said Ann-Marie Lurie, Chief Economist at CREB®. “This is a different situation from some of the other larger cities, where their housing markets were struggling prior to the addition of economic uncertainty.”

Last year there was limited inventory across most property types and price ranges. Recent inventory gains are creating pockets of the market that are struggling with too much supply while in other areas supply levels are still low relative to the demand, resulting in divergent trends in home prices. Both detached and semi-detached home prices have remained relatively stable this month and are still higher than last year’s levels. Meanwhile, row and apartment style homes have reported modest monthly price declines and May prices remain below last year’s levels, as improved new home and rental supply is weighing on resale prices. Overall, the total residential unadjusted benchmark price in Calgary was $589,900, slightly lower than last month and over two per cent below May 2024 levels.

Airdrie
While improving over last month, May sales eased compared to last year, contributing to the year-to-date decline of 10 per cent. However, the 772 sales so far this year are consistent with long-term trends in Airdrie. At the same time new listings continue to rise causing the sales-to-new listings ratio to fall to 58 per cent, still well within balanced conditions, but a significant change from the over 90 per cent ratio reported last year. Recent shifts in sales and new listings have supported gains in inventory levels. In May there were 468 units in inventory, reflecting the highest May reported since prior to the pandemic.

The shift in supply is in part related to the surge in new construction providing more options for potential consumers. Additional supply choice is impacting price growth. The total residential benchmark price was $540,600 in May, down nearly one per cent over last month and nearly two per cent below last year’s levels.

Cochrane
Sales in Cochrane were fairly resilient until this month, where sales were 17 per cent slower than last year. The decline was enough to cause year-to-date sales to ease to levels just below those reported last year. At the same time, this month new listings surged, driving the sales-to-new listings ratio down to 55 per cent and supporting further inventory gains. With 293 units available in May, levels are more consistent with long-term trends. The months of supply neared three months in May and while this did slow the pace of price growth, the total residential benchmark price of $589,400 is still nearly four per cent higher than last May.

Okotoks
A boost in new listings this month supported a surge in sales activity. However, with a sales-to-new-listings ratio of 74%, inventory levels did not change much over last month and the months of supply once again dropped below two months. Okotoks has struggled to add supply at the pace reported in Calgary, Cochrane and Airdrie and sales growth has been dampened by limited supply choice. While there have been some improvements in inventory levels, as of May levels remained nearly 28 per cent below long-term trends for the city. The limited supply choice given the relatively strong demand has continue to support some price growth in the town. As of May the unadjusted benchmark price was $633,900, up over last month and over two per cent higher than last year.

Read the full release here www.creb.com/News/Media_Releases/2025/June/May_2025_stats/ and connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

April Real Estate Statistics

Thu, 01 May 2025 20:47:49 GMT

CREB® released the Calgary and area statistics for April, reporting a boost in new listings this month relative to sales caused April inventories to rise to 5,876 units. Although this is more than double the number reported last year, last year’s supply was exceptionally low, and current inventory levels are consistent with what we typically see in April. April sales reached 2,236 units—22 per cent below last year’s levels but in line with long-term trends.

“Economic uncertainty has weighed on home sales in our market, but levels are still outpacing activity reported during the challenging economic climate experienced prior to the pandemic,” said Ann-Marie Lurie, Chief Economist at CREB®. “This, in part, is related to our market's situation before the recent shocks. Previous gains in migration, relatively stable employment levels, lower lending rates, and better supply choice compared to last year’s ultra-low levels have likely prevented a more significant pullback in sales and have kept home prices relatively stable.”

The rise in inventory levels helped the market shift to balanced conditions with nearly three months of supply. However, conditions vary depending on price range and property type. Lower-priced detached and semi-detached properties continue to struggle with insufficient supply, while row and apartment-style homes are seeing more broad-based shifts to balanced conditions.

The additional supply has helped relieve the pressure on home prices following the steep gains reported over the past several years. Benchmark prices for each property type have remained relatively stable compared to last month. However, compared to last year, detached and semi-detached prices are over two per cent higher than last year's levels, while apartment and row-style home prices have remained relatively unchanged.

Airdrie
For the third month in a row, sales activity eased compared to last year's levels. Despite the declines, sales remain above long-term trends. At the same time, new listings continue to rise, but with 185 sales and 290 new listings in April, the sales-to-new listings ratio reached 64 per cent, an improvement over recent months. Inventory levels continued to trend up this month. However, after three consecutive years of exceptionally low April levels, inventory is now consistent with long-term trends. With 2.3 months of supply, conditions are moving to a more balanced state, taking the pressure off home prices. In April, the total residential price was $544,700, relatively unchanged compared to both last month and last year's levels.

Cochrane
For the fourth month in a row, sales activity in the area has remained consistent with last year's levels, resulting in 335 sales so far this year, a nearly five per cent gain over last year and consistent with long-term trends. New listings have also been on the rise, but the sales-to-new-listings ratio has remained at 60 per cent, preventing the doubling of inventory in this market. While inventory levels have improved compared to last year, the 246 units available in April are just shy of long-term trends. Like other areas, improvements in supply have slowed the pace of price growth, but in Cochrane, prices are still edging up. In April, the total residential benchmark price was $592,000, trending up over last month and nearly six per cent higher than prices reported in the previous year and at a record high.

Okotoks
Sales in Okotoks continue to ease compared to last year, contributing to the year-to-date decline of 16 per cent. Over the past few years, sales have been restricted by a lack of supply. However, this year we have started to see a shift. New listings continue to improve in April compared to sales, causing the sales-to-new-listings ratio to ease to 53 per cent, supporting inventory gains. However, with 127 units in inventory in April, levels remain below long-term trends for the month. The modest gains in inventory have slowed the pace of price growth in the area. As of April, the unadjusted benchmark price was $627,100, down slightly from last month, but nearly two per cent higher than last April.

Read the full release here www.creb.com/News/Media_Releases/2025/May/April_2025_stats/ and connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

New property listed in Drumheller, Drumheller

Sat, 22 Mar 2025 09:13:53 GMT

I have listed a new property at 670 Center STREET in Drumheller. See details here

Rare opportunity to purchase river front property in the picturesque Dinosaur Valley. Only 15 minutes away from Drumheller downtown and 1:15 hour from Calgary City limits, this amazing piece of land is surrounded by beautiful views of the coulees and Hoodoos. The opportunities for future development and profitable investment are definitely there with the neighborhood district zoning. You can choose to build your family dream home and build fun memories or subdivide and make a large profit. Municipal water is right at the property line, and so gas and electrical. This entire community land is nested between 7 and 6 ave. 7 Avenue ends in a cul-de-sac and 6 Avenue takes you right to the river. Another cool feature about this land is, it is part of an historical mining site with the sign on the edge of the property line.

February Real Estate Statistics

Tue, 04 Mar 2025 20:12:00 GMT

The Calgary Real Estate Board shared the February stats today, saying that sales remain above long-term trends despite declines. Inventory levels saw substantial year-over-year growth for the second month in a row, rising by 76 per cent to 4,145 units in February. While inventory increases were seen across all price ranges, the largest increases were in homes priced under $500,000.

The increase was driven by substantial growth in the more affordable apartment and row/townhouse sectors. The overall months of supply was 2.4 in February, similar to last month but more than double this time last year. Apartment-style units remained the most well-supplied at 3.1 months.

There were 1,721 sales in February, which was above historical averages for the month but 19 per cent lower than levels seen last year and significantly lower than the record levels seen in the post-pandemic period. New Listings in February reached 2,830, roughly in line with historical averages for the month. The sales-to-new listings ratio for the month was 61 per cent, higher than historical averages but below levels seen in each of the last three years.

“Even though more people listed their homes for sale, there were actually fewer sales than in February 2024. So, we’re seeing the seller’s market of the past two or three years ease off,” said Alan Tennant, President and CEO of CREB®. “In turn, that’s caused the pace at which prices are increasing to slow down a bit, which should come as welcome news for buyers.”

The total residential unadjusted benchmark price in February was $587,600, relatively stable compared to late-2024 and roughly one per cent higher year-over-year. Price changes varied across the city, with the City Centre and North districts seeing declines, while the East district saw the largest price growth at over three per cent.

Airdrie
The overall Airdrie market fell roughly in line with its long-term averages in February, with sales declining while new listings and inventories rose to levels typical of the month. Sales declined by nearly nine per cent, reaching 123 units, while new listings increased by nearly 23 per cent to 225 units. This drop in sales, combined with an increase in new listings, pushed inventories to over double the amount seen last year, rising to 345 homes. As a result, months of supply pushed up to nearly three months, also in line with long-term averages and the highest seen in the market since before the pandemic.

The unadjusted benchmark price for February was essentially flat compared to last month and remained below levels seen in the fall at $537,600, but were 1.6 per cent higher than seen last February.

Cochrane
Sales in February reached 75 units, while new listings reached 126 units, both increases over this time last year and above long-term averages for the market. Inventory increased by over 48 per cent year-over-year to 196 units, the highest level seen in any month since the spring of 2021 but still below long-term averages for February in the Cochrane market. This increase in inventory allowed the months of supply to recover to 2.6 months, the highest since the pandemic but still well below historical levels for the month. The relatively tight conditions supported prices recovering near the record-high levels seen in the summer, as the unadjusted benchmark price increased by over five per cent year-over-year to $577,100.

Okotoks
February saw sales decline by four per cent year-over-year to 45 units, though they remained in line with long-term averages for the month. New listings increased by seven per cent compared to 2024, and, at 60 units, remained well below levels typically seen in February. Inventory recovered to 69 units, 19 per cent above 2024, but as with new listings, they remained significantly lower than historical levels for the month. These tighter inventory levels also kept the months of supply well below what would typically be seen in February at just 1.5 months. Despite the tight conditions, the unadjusted benchmark price for the month was relatively flat compared to January and under one per cent higher than in 2024.

Read the full release here www.creb.com/News/Media_Releases/2025/March/Feb_2025_stats/ and connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

5 Reasons You Should Buy a Home This Year

Mon, 24 Feb 2025 20:13:00 GMT

The decision to buy a home is one of the most significant financial moves you can make, and timing plays a crucial role. If you’ve been on the fence about purchasing a home, 2025 might be the perfect year to take the leap. Here are five compelling reasons why buying a home this year is a smart move.

Build Equity Instead of Paying Rent Renting may seem convenient, but every payment you make contributes to your landlord’s wealth rather than your own. Homeownership allows you to build equity—a form of forced savings that grows over time. Instead of watching your rent increase year after year with no return, investing in a home means you’re putting money toward an asset that will likely appreciate in value.
Stability and Control Over Your Living Space When you own your home, you have full control over modifications, renovations, and design choices. You no longer have to worry about landlords raising the rent or deciding to sell the property. Owning a home offers stability, particularly if you’re raising a family or planning to stay in one place for an extended period.
Home Values Are Expected to Appreciate Real estate has historically been a sound investment, and home values tend to increase over time. While market conditions fluctuate, buying a home now means you can benefit from future appreciation. Even if prices dip temporarily, long-term trends indicate growth, allowing homeowners to build wealth through property ownership.
Interest Rates Have Dropped Mortgage rates have been steadily declining and still remain competitive compared to historical averages. Locking in a mortgage now could save you money in the long run, especially if rates rise in the future. Working with a knowledgeable real estate agent and mortgage broker can help you secure the best financing options.
A Home Is More Than Just an Investment—It’s a Lifestyle Upgrade Beyond the financial benefits, homeownership enhances your quality of life. Owning a home means having a personal sanctuary, customizing your space to suit your needs, and feeling a stronger connection to your community. Whether it’s planting a garden, creating your dream kitchen, or simply enjoying the security of having a place to call your own, homeownership provides unmatched personal satisfaction.

Is This the Year You Buy? The real estate market presents opportunities for buyers, but acting at the right time is key. If you’re considering purchasing a home, I have decades of expertise and can help you navigate the process and find the perfect property for your needs.

Ready to take the first step? Let’s talk about your homeownership goals and make 2025 the year you find your dream home!

Unlocking Potential: The Benefits of Developing Your Basement

Thu, 20 Feb 2025 20:13:00 GMT

If you have an undeveloped basement, you may be sitting on untapped potential! Basement development is a smart investment that can significantly enhance your home’s value, functionality, and appeal. Whether you need more living space, want to generate rental income, or increase your property’s resale value, finishing your basement is a worthwhile project. Here’s why it makes sense and what options you have.

Why Develop Your Basement?

Increase Your Home’s Value

A finished basement adds usable square footage, making your home more attractive to buyers. In Calgary’s real estate market, homes with developed basements tend to sell faster and at higher prices than those without.

Create Additional Living Space

Whether you need a guest suite, home office, gym, or entertainment room, your basement provides endless possibilities. A well-designed basement can serve multiple purposes and adapt to your changing lifestyle.

Generate Rental Income with a Secondary Suite

A legal secondary suite is one of the most profitable ways to develop your basement. With Calgary’s growing demand for rental properties, a basement suite can provide a steady source of income while helping offset mortgage costs.

Accommodate Multi-Generational Living

If you have extended family members living with you, a developed basement can offer them privacy and comfort. Creating an in-law suite with a separate entrance and amenities ensures everyone has their own space while staying close.

Improve Energy Efficiency

A properly insulated and finished basement can help regulate your home’s temperature, reducing heating and cooling costs. Modern building materials and energy-efficient solutions can make your basement more comfortable and cost-effective to maintain.

Basement Development Options

Secondary Suite

A secondary suite is a self-contained living space with a separate entrance, kitchen, bathroom, and sleeping area. To be legal in Calgary, it must meet the city’s building code and zoning requirements. This option is ideal for long-term rentals or Airbnb opportunities.

Home Office or Business Space

With more people working remotely, a basement office is a great way to create a quiet and professional workspace. If you run a home-based business, this space can also serve as a client-friendly meeting area.

Home Gym or Wellness Space

Instead of paying for a gym membership, why not create your own fitness studio? Your basement can house exercise equipment, a yoga room, or even a sauna for a personal wellness retreat.

Entertainment and Recreation Room

A home theater, game room, or bar area can make your basement the perfect entertainment hub. Whether you love hosting movie nights or need a space for the kids to play, this is a fantastic option for families.

Guest or In-Law Suite

If you frequently have visitors or need a space for aging parents, a private guest suite with a bedroom and bathroom is a great solution. This adds convenience and comfort for both you and your guests.

Getting Started with Your Basement Development

Before starting your basement renovation, it’s essential to:

Check Calgary’s building codes to ensure compliance, especially for secondary suites.
Set a budget to determine the scope of your project.
Hire a professional for design, permits, and construction to guarantee a high-quality finish.

A well-developed basement is more than just an upgrade—it’s an investment in your home’s future. Whether you’re looking to increase your property’s value, enhance your lifestyle, or generate rental income, transforming your basement is a strategic move. If you’re considering this upgrade, I’d love to help you navigate your options and find a property with basement development potential. Let’s connect and explore your real estate goals!

Real Estate Lingo: Short Sales

Mon, 10 Feb 2025 20:14:00 GMT

When it comes to real estate, there are plenty of terms and processes that can make your head spin—“short sale” might be one of them! But don’t worry, I’m breaking it down into simple, everyday language so you’ll feel confident if this term ever pops up in your home-buying or selling journey.

What Exactly Is a Short Sale?

Let’s start with the basics. A short sale happens when a homeowner needs to sell their property, but the sale price is less than the amount they still owe on their mortgage. Essentially, the homeowner is “short” on the funds needed to fully pay off their loan. For this to work, the lender (usually a bank) has to agree to accept less than the full amount owed.

It’s important to note that short sales are different from foreclosures. In a foreclosure, the bank takes ownership of the property because the homeowner hasn’t been able to keep up with mortgage payments. In a short sale, the homeowner still owns the property and is trying to sell it to avoid foreclosure.

Why Would Someone Opt for a Short Sale?

Life happens, and sometimes homeowners find themselves in situations where they can’t keep up with mortgage payments. Maybe it’s due to a job loss, unexpected medical expenses, or a drop in the property’s value. A short sale can be a way for homeowners to avoid the more severe financial and credit consequences of foreclosure. Plus, it’s a chance to start fresh without the burden of unpaid mortgage debt hanging over their heads.

What’s the Process Like?

Here’s a quick rundown of how a short sale typically works:

Homeowner Decision: The homeowner realizes they can’t afford their mortgage and decides to pursue a short sale as an alternative to foreclosure.
Contacting the Lender: The homeowner reaches out to their lender to request approval for a short sale. This usually involves providing documentation to prove financial hardship, like income statements, tax returns, and a letter explaining their situation.
Listing the Property: The homeowner works with a real estate agent to list the property for sale. It’s often priced lower than market value to attract buyers.
Receiving Offers: Once offers start coming in, the lender reviews them to decide if they’re acceptable. Remember, the lender has to approve the sale since they’re agreeing to take less than what’s owed.
Closing the Deal: If the lender approves an offer, the sale proceeds, and the property changes hands. The lender takes the proceeds from the sale, and the remaining balance on the mortgage is typically forgiven (though this can vary based on local laws and lender policies).

Pros and Cons of a Short Sale

For sellers the pros including avoiding foreclosure and its impact on your credit score as well as potentially walking away from the property without owing additional money. The cons are the process can be lengthy and complicated and your credit score will still take a hit, though it’s generally less severe than a foreclosure.

A pro for buyers is an opportunity to purchase a property below market value while the cons are the process can be slow since the lender has to approve the sale and properties are often sold “as-is,” meaning buyers may need to invest in repairs or renovations.

Tips for Navigating a Short Sale

For Sellers: Work with an experienced real estate agent who knows how to handle short sales and can guide you through the process. Be upfront with your lender and stay on top of paperwork.
For Buyers: Be patient and flexible. Short sales aren’t known for their speed! Have your financing in order and be prepared for potential repair costs.

Short sales might not be the easiest or quickest transactions in real estate, but they can be a lifeline for sellers in financial distress and a great opportunity for buyers looking for a deal. Whether you’re buying or selling, having a knowledgeable real estate agent by your side can make all the difference. After all, navigating the twists and turns of real estate is much easier when you’ve got an expert like me guiding the way!

January 2025 Real Estate Statistics

Mon, 03 Feb 2025 20:14:00 GMT

CREB® has released the January stats, reporting that following three consecutive years of limited supply choice, inventory levels in January rose to 3,639 units. While the 70 per cent year-over-year gain is significant, inventory levels remain lower than the over 4,000 units we would typically see in January. Inventories rose across all property types, with some of the largest gains driven by apartment-style condominiums.

“Supply levels are expected to improve this year, contributing to more balanced conditions and slower price growth,” said Ann-Marie Lurie, Chief Economist at CREB®. “However, the adjustment in supply is not equal amongst all property types. Compared with sales, we continue to see persistently tight conditions for detached, semi-detached and row properties while apartment condominiums show signs of excess supply for higher priced units.”

Citywide, the months of supply reached 2.5 months in January, an improvement over the one month of supply reported last year, but it is still considered low for a winter month. The month of supply ranged from under two months for semi-detached properties to 3.5 months for apartment-style units.

Rising supply resulted from a boost in new listings compared to sales. New listings rose to 2,896 units in January, compared to 1,451 sales. Sales in January were down by 12 per cent compared to last year. However, even with a pullback in sales, levels remained nearly 30 per cent higher than levels typically recorded in January.

The total residential benchmark price in January was $583,000, which is relatively stable compared to levels reported at the end of last year and nearly three per cent higher than last January. Price growth ranged across districts within the city as well as property types.

Airdrie
Sales in January remained in line with levels reported last month and last year, which were well above long-term trends. However, thanks to a boost in new listings, inventory levels improved, and the months of supply remained above two months for the fifth consecutive month. While 2.6 months of supply is below historical trends for Airdrie, it is a significant improvement over the under two months that has persisted since 2021. More supply in the resale and new home markets has taken some of the pressure off home prices. The unadjusted benchmark price in January was $537,300, down over last month but nearly four per cent higher than last year.

Cochrane
Like other areas, Cochrane is seeing improved levels of new listings and inventories in their market. There were 104 new listings in January compared to 71 sales, and inventories pushed up to 156 units. January inventory levels are better than levels reported over the past three years but still fall short of long-term trends for the month. Like Airdrie, it has been the fifth consecutive month with the months of supply above two months, easing the upward pressure on home prices. The unadjusted benchmark price in January was $565,900, down over last month but nearly five per cent higher than last January.

Okotoks
Unlike Cochrane and Airdrie, new listings in Okotoks remained relatively low compared to last year. While the pullback in sales did help support some improvements in inventory levels, the 68 units available in January are still half the levels that were available in January prior to the pandemic. Limited supply has driven much of the price gains in this market since 2021. As of January, the unadjusted benchmark price was $614,900, a slight gain over last month and nearly five per cent higher than last year.

Read the full release here www.creb.com/News/Media_Releases/2025/February/Jan_2025_stats/ and connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

How to Create a Real Estate Investment Plan

Mon, 27 Jan 2025 20:15:00 GMT

Investing in real estate is one of the most reliable ways to build wealth over time. Whether you’re just starting out or looking to expand your portfolio, having a solid investment plan is key to achieving success. In Alberta, the province’s strong economy, diverse housing markets, and relatively affordable property prices make it a prime spot for real estate investment. Let’s break down how you can create your own real estate investment plan—step by step.

Set Your Goals

Before diving into real estate, take some time to clarify your goals. Ask yourself:

Are you looking for long-term appreciation or short-term cash flow?
Do you want to invest in residential properties, commercial spaces, or land?
What’s your timeline for seeing returns?

Knowing your objectives will help you decide what types of properties to focus on and where to allocate your resources.

Assess Your Financial Situation

Take a good look at your finances. How much capital do you have available for a down payment? Can you handle ongoing expenses like maintenance, property taxes, and potential vacancies? Speak to a mortgage broker to understand your borrowing power and explore financing options available. Programs like the First-Time Home Buyer Incentive or regional grants could also play a role in your planning.

Research Alberta’s Real Estate Market

Alberta offers a variety of markets, each with its own unique characteristics:

Calgary: A growing city with a strong job market, diverse communities, and steady demand for rentals.
Edmonton: Known for its stability, Edmonton’s real estate market is popular among investors seeking consistent returns.
Smaller towns and rural areas: These can be great for those looking to invest in affordable properties or vacation rentals.

Keep an eye on factors like job growth, population trends, and infrastructure development. The more you know about the local market, the better equipped you’ll be to spot opportunities.

Build Your Team

Real estate investing is a team sport. Surround yourself with professionals who can guide you through the process:

Real estate agent: Choose someone with expertise in investment properties.
Mortgage broker: They’ll help you secure financing.
Lawyer: Essential for handling contracts and legal matters.
Accountant: To advise on tax implications and deductions.
Property manager: If you don’t want to manage tenants yourself.

Working with experienced professionals will save you time, money, and stress.

Identify Your Investment Strategy

There are many ways to invest in real estate. Some popular strategies include:

Buy and hold: Purchase a property and rent it out to generate long-term income.
Fix and flip: Buy a fixer-upper, renovate it, and sell for a profit.
REITs (Real Estate Investment Trusts): A more hands-off approach where you invest in a company that owns and operates income-generating real estate.
Short-term rentals: Properties listed on platforms like Airbnb can offer high returns in the right locations.

Choose a strategy that aligns with your goals, financial situation, and risk tolerance.

Analyze Properties

When you’ve identified a potential property, analyze its profitability. Calculate metrics like:

Cash flow: Income from rent minus expenses.
Cap rate: The property’s net operating income divided by its purchase price.
ROI (Return on Investment): Your net profit as a percentage of your initial investment.

Ensure the numbers make sense before moving forward. Remember, not every property is a good deal.

Secure Financing

Once you’ve found the right property, secure financing. Alberta’s mortgage market is competitive, so shop around for the best rates and terms. Consider pre-approval to streamline the buying process and strengthen your offer.

Close the Deal

Work with your real estate agent and lawyer to finalize the purchase. Review all documents carefully, conduct inspections, and ensure you’re aware of any conditions tied to the sale.

Manage Your Investment

Owning a property is just the beginning. To maximize your investment, stay on top of:

Maintenance: Keep the property in good condition.
Tenant management: Screen tenants carefully and respond to their needs promptly.
Market trends: Monitor the local market to identify when it might be time to sell or refinance.

If you’re not interested in hands-on management, consider hiring a property manager to handle the day-to-day tasks.

Reassess and Scale

Real estate investing is an ongoing process. Regularly review your portfolio to assess its performance and make adjustments as needed. Once you’ve built some equity and experience, you can look into scaling your investments by purchasing additional properties.

Creating a real estate investment plan in Alberta takes time and effort, but the rewards can be significant. By setting clear goals, doing your research, and building the right team, you’ll be well on your way to growing your wealth through property. Over the years, I have acquired a nice portfolio of rentals which will help secure me through my retirement years. I love to share my property management skills, the ins and outs of dealing with tenants and practical real estate advice to help anyone achieve the same goals.

Remember, every successful investor started with that first step—so why not take yours and call me today! Visit me on Facebook and Google for the latest in real estate trends and news.

The Pros and Cons of Buying a New Construction Home

Fri, 24 Jan 2025 20:15:00 GMT

If you’re in the market for a home, you might be wondering whether buying a brand-new construction is the right choice for you. In my 3+ decades as a real estate professional, I’ve worked with many clients who’ve considered new builds, and it’s always a balance of weighing the benefits against the potential drawbacks. Let’s break it down so you can make an informed decision.

The Benefits of Buying a New Construction Home

Customization Options One of the biggest draws of new construction is the ability to customize. From floor plans to finishes, many builders offer a variety of options so you can design a home that fits your style and needs perfectly. Want an open-concept kitchen with quartz countertops? No problem. Prefer hardwood floors over carpet? You’ve got it.
Modern Design and Technology New homes are designed with today’s lifestyle in mind. Think open floor plans, large windows for natural light, and energy-efficient systems. Smart home technology, like programmable thermostats and built-in security systems, is often standard or available as an upgrade.
Lower Maintenance Costs Everything is brand new, from the roof to the appliances, meaning you’re less likely to face costly repairs in the near future. Plus, many builders include warranties, which can give you peace of mind for years to come.
Energy Efficiency New builds must adhere to current building codes, which means better insulation, high-efficiency windows, and energy-saving appliances. This can lead to lower utility bills and a smaller environmental footprint.

The Drawbacks of Buying a New Construction Home

Higher Initial Costs New construction homes can come with a premium price tag compared to resale homes. While you’re getting a brand-new product, it’s important to budget for potential upgrades and extras that may not be included in the base price.
Longer Wait Times Depending on the stage of construction, you may have to wait months—or even over a year—before your home is move-in ready. This can be a challenge if you need to relocate quickly.
Lack of Mature Landscaping One thing many new construction neighborhoods lack is mature trees and greenery. Landscaping can take years to grow, and in the meantime, you might feel like you’re living in a construction zone.
Location Trade-Offs Many new builds are located on the outskirts of cities, where land is more readily available. While these areas are often growing, they may lack the established amenities and shorter commute times that older neighborhoods offer.

Is a New Construction Home Right for You?

Choosing a new construction home is a highly personal decision. If you value modern design, energy efficiency, and the chance to personalize your space, it could be the perfect fit. On the other hand, if you’re looking for a shorter timeline, a central location, or a home with character, you might prefer a resale property.

If you’re considering a new build, I’d love to help you navigate the process. From understanding builder contracts to choosing the right upgrades, having an experienced real estate agent by your side can make all the difference. Feel free to reach out if you’d like to chat more about your options in today’s real estate market!

Your Guide to Sustainable Living: Simple Steps for a Greener Life

Tue, 14 Jan 2025 20:16:00 GMT

Sustainability is more than just a buzzword; it’s a way of life that helps protect our planet for future generations. But let’s be real—it can sometimes feel overwhelming. The good news? Living sustainably doesn’t mean you have to overhaul your entire life overnight. Small, consistent changes can make a big difference. Here’s a casual guide to help you ease into a greener lifestyle, one step at a time.

Reduce, Reuse, Recycle (But Mostly Reduce)

We’ve all heard this mantra before, but it’s worth repeating. The most impactful action you can take is to reduce what you consume in the first place. Here’s how:

Say no to single-use plastics: Carry a reusable water bottle, coffee mug, and shopping bag.
Shop intentionally: Buy only what you need and look for quality items that will last.
Declutter responsibly: Donate items you no longer use instead of tossing them in the trash.

Go Local

Supporting local businesses and farmers isn’t just good for your community; it’s also better for the environment. Locally produced goods often require less transportation, which means fewer carbon emissions. Visit farmer’s markets, explore local boutiques, and enjoy farm-to-table restaurants when dining out.

Conserve Energy at Home

Saving energy doesn’t just lower your utility bills; it’s also a win for the planet. A few easy tweaks include:

Switch to LED bulbs: They use less energy and last longer.
Unplug devices: Even when turned off, electronics can use energy if they’re plugged in.
Adjust your thermostat: Lower it in the winter and raise it in the summer by just a couple of degrees.

Green Up Your Diet

You don’t have to go fully vegan to make a difference. Start small with these steps:

Meatless Mondays: Dedicate one day a week to plant-based meals.
Buy organic when you can: Look for produce that’s grown without harmful pesticides.
Avoid food waste: Plan meals, use leftovers, and compost scraps.

Embrace Slow Fashion

Fast fashion might be trendy, but it comes at a cost—both environmentally and ethically. Instead, consider:

Thrifting: Find unique, pre-loved clothing at thrift stores.
Quality over quantity: Invest in well-made, timeless pieces.
Clothing swaps: Trade clothes with friends to refresh your wardrobe without buying new items.

Green Your Commute

Transportation is a major source of greenhouse gas emissions. Consider:

Walking or biking: Great for the planet and your health.
Public transit: A more eco-friendly alternative to driving alone.
Carpooling: Share rides to cut down on emissions and costs.

Remember, sustainable living is a journey, not a destination. Don’t stress about being perfect; even small changes add up over time. Pick one area of your life to focus on, and build from there. Before you know it, you’ll be living a greener, more intentional life.

What are your favorite tips for sustainable living? Share them in the comments—let’s inspire each other to make a positive impact!

December 2024 Statistics

Thu, 02 Jan 2025 20:16:00 GMT

CREB® released the final stats package for 2024, saying the year ended with 1,322 sales in December, a three per cent decline over last year, but nearly 20 per cent higher than long-term trends. Overall sales in 2024 were just shy of last year’s levels, as gains for higher-priced homes offset pullbacks in the lower price ranges caused by supply challenges.

“Population gains over the past several years have supported sales activity that has outperformed long-term trends. In 2024, sales would likely have been higher if there was more supply choice, especially in the lower price ranges,” said Ann-Marie Lurie, Chief Economist at CREB®. “That being said, we did start to see shifts occurring in the market in the second half of the year as supply levels started to improve for higher priced homes.”

As of December, there were 2,989 units available in inventory, still below long-term trends for the month but a significant improvement over the lower levels reported last December and levels reported early this year. Improved rental choice and significant gains in new home activity helped boost new listings in the resale market, driving higher inventories in the year’s second half.

While conditions vary depending on price range and property type, more housing options have helped to take some of the pressure off home prices, which stabilized in the second half of the year following steep gains in the spring. Overall, on an annual basis, total residential benchmark prices improved by over seven per cent.

As we move into 2025, supply will continue to be a dominant theme. However, how they impact prices will ultimately depend on the type of supply being added and how demand holds up in the face of a changing economic climate. On January 21, CREB® will release its forecast report, highlighting the expectations and risks facing the market in the coming year.

Airdrie
Despite some recent pullbacks, sales activity reached 1,951 units in 2024, a gain of over four per cent compared to last year. The gain, in part, was possible thanks to a boost in new listings that helped add some much-needed supply to the Airdrie market. Much of the inventory gain occurred in the later portion of the year, causing the months of supply to push above two months in September and improve throughout the last quarter of the year.

The shift toward more balanced conditions took some pressure off prices over the last quarter of the year. However, on an annual basis, the benchmark price rose by nearly eight per cent, a faster pace than the previous year. Prices rose across all property types, with faster growth occurring for the relatively more affordable higher-density homes.

Cochrane
Market conditions in Cochrane favoured the seller throughout most of the year as strong sales relative to new listings prevented any significant shift in inventory levels. However, by the last quarter of the year, we started to see more new listings relative to sales, causing the sales-to-new listings ratio to ease to levels more consistent with balanced conditions. This helped support some inventory gains; however, over the last quarter of the year, inventory levels were still well below long-term trends for the area.

The inventory gains relative to sales in the later part of the year did push the months of supply above two months. This helped take some of the pressure off home prices but not enough to offset earlier gains. Overall, the annual benchmark price rose by nearly nine per cent averaging $565,808 in 2024.

Okotoks
New listings rose by 16 per cent in 2024, supporting sales growth of nearly eight per cent. The gains in new listings also helped support some gains in inventory levels this year. However, throughout most of the year, inventory levels were half the levels traditionally seen in the market and have not been high enough to change the seller market conditions that have persisted in Okotoks since 2021.

The tight market conditions drove further price growth this year and at a faster pace than last year. Benchmark prices in Okotoks averaged $615,708 in 2024, nearly eight per cent higher than last year. Several years of price growth caused a rise in activity for semi-detached and row-style units, driving tighter conditions in those sectors and priced growth that exceeded 11 per cent on an annual basis.

Read the full release here www.creb.com/News/Media_Releases/2025/January/Dec_2024_stats/ and connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

Real Estate Trends & Predictions for 2025: What’s Brewing in the Wild Rose Province?

Tue, 17 Dec 2024 20:16:00 GMT

If there’s one thing we know about Alberta, it’s that our landscape is as diverse as our real estate market. From the towering peaks of the Rockies to the rolling prairies, Alberta offers more than breathtaking views—it’s a land of opportunity. As we gear up for 2025, let’s take a fun dive into the trends and predictions shaking up the real estate scene across the province.

The Rise of the “Hybrid Haven”

In 2024, we saw a significant shift toward remote workspaces, and 2025 is doubling down on this trend. Buyers are no longer just looking for a home—they’re seeking a “Hybrid Haven,” a place where they can seamlessly blend work, play, and relaxation. Expect to see a surge in demand for properties with home offices, high-speed internet access, and creative multipurpose spaces. Think “home office meets zen garden meets VR gaming lounge!”

Urban Meets Nature: The Green Boom

Sustainability is the buzzword for 2025. Alberta’s urban centers like Calgary and Edmonton are leading the charge in green initiatives. More developers are incorporating eco-friendly designs—solar panels, green roofs, and geothermal heating. Buyers are increasingly conscious of their carbon footprints, and properties that balance modern living with environmental stewardship will be hot commodities.

Alberta’s Rental Revolution

The rental market is evolving. With economic growth forecasted for Alberta’s energy sector, the influx of workers will fuel a rental boom. Investors, take note: multi-family units and condos will be a prime opportunity in 2025. Expect to see more co-living spaces designed for young professionals and students seeking affordability without compromising on lifestyle.

Tech-Driven Transactions

Virtual showings, drone tours, and AI-driven property matchmaking are no longer just novelties—they’re becoming industry standards. In 2025, buyers and sellers in Alberta will rely heavily on tech for streamlined transactions. The days of paper-heavy contracts are dwindling. Digital signatures, blockchain security, and VR open houses will be the new normal.

Calgary’s Luxury Market Boom

Calgary’s luxury market is poised for growth, fueled by international buyers seeking a slice of Alberta’s prime real estate. From penthouse condos downtown to sprawling estates in Springbank, high-end properties will see increased demand, particularly from overseas investors drawn to the stability and beauty of Alberta’s market.

The Alberta Advantage Lives On

Despite economic fluctuations, Alberta remains a magnet for newcomers due to its strong job market, lower taxes, and quality of life. Predictions indicate steady population growth in 2025, fueling continued demand for housing across all sectors. Whether you’re a first-time buyer, investor, or looking to upsize, there’s room for everyone in Alberta’s thriving real estate market.

Final Thoughts

As we step into 2025, Alberta’s real estate market promises to be dynamic and diverse, just like its people. Whether you’re looking to buy, sell, or invest, the opportunities are endless. So, buckle up—2025 is shaping up to be an exciting year in Alberta real estate, and as always, I’m here to guide you every step of the way!

What are your thoughts on Alberta’s real estate future? Let’s chat in the comments below!

Home for the Holidays: Fun & Festive Activities to Make the Season Bright

Tue, 10 Dec 2024 20:17:00 GMT

The holiday season is upon us, and while travel plans may be tempting, there’s something magical about staying cozy at home. Whether you’re solo, with family, or hosting friends, here’s a list of holiday activities to keep the festive spirit alive without stepping outside your front door!

DIY Holiday Décor Extravaganza

Who needs store-bought decorations when you can create your own? Gather some pinecones, twinkly lights, and ribbons, then unleash your inner artist. Try making a garland with dried oranges or crafting homemade ornaments. Bonus: it’s a fun way to involve the kids or bond with friends over hot cocoa.

Cozy Movie Marathons with a Twist

Take your holiday movie marathon up a notch by turning it into a themed event. Host a “Home Alone” pizza party or a “Harry Potter” hot chocolate bar. Everyone dresses in cozy PJs, blankets everywhere, and don’t forget the popcorn topped with festive sprinkles!

Bake-Off: Holiday Edition

Ready, set, bake! Challenge your household to a friendly baking competition. From gingerbread houses to holiday cookies, let everyone showcase their sweet (or savory) skills. For an extra festive touch, add a blind taste test and let the winner enjoy the last slice of pie guilt-free.

International Holiday Night

Bring the world to your dining table by cooking dishes from different cultures. Maybe start with a French bûche de Noël, move on to Italian panettone, or try a Swedish smorgasbord. It’s a fun way to learn about global traditions and enjoy delicious food without leaving your home.

Indoor Winter Wonderland

Turn your home into a snow-free winter wonderland. Use fairy lights, cotton batting for faux snow, and paper snowflakes. You can even set up a “sledding” course using cardboard boxes and pillows for kids (and the young at heart).

Virtual Carol Karaoke

Invite friends and family for a virtual holiday karaoke night. Belt out your favorite carols or modern holiday hits. Add a prize for the best performance or most creative holiday outfit to keep the energy high.

DIY Holiday Photo Booth

Create a holiday-themed photo booth with a festive backdrop, props, and a camera (or just your phone!). This is perfect for capturing memories, especially if you plan on sending out digital holiday cards or posting a cheerful update on social media.

Sip & Paint Night

Set up a holiday-themed paint night with festive drinks. Whether you’re sipping mulled wine, eggnog, or mocktails, this is a relaxing way to unwind while creating something unique. You could follow a holiday painting tutorial or let your imagination run wild.

Giving Back from Home

Make the season brighter for others by organizing a charity event from home. Host a virtual fundraiser, gather donations, or put together care packages for local shelters. Spreading holiday cheer has never been easier—or more meaningful.

Staying home this holiday season doesn’t mean missing out on festive fun. With a little creativity and a lot of cheer, your home can become the ultimate holiday destination. What’s on your at-home holiday activity list this year?

November Real Estate Statistics

Mon, 02 Dec 2024 20:18:00 GMT

The Calgary Real Estate Board released the latest statistics, saying, as we transition into winter, Calgary’s housing market is following typical seasonal trends, with activity slowing compared to the fall. However, year-over-year demand remains relatively strong. In November, increased sales in detached, semi-detached, and row homes offset a decline in apartment condominium sales. The 1,797 sales for November mirrored last year’s levels and remained 20 per cent above long-term trends for the month.

The significant shift lies in supply. Inventory levels rose to 4,352 units in November, a notable increase from the 3,000 units reported last year. Despite the recent gains, inventory levels remain below long-term trends for the month.

“Housing supply has been a challenge over the past several years due to the sudden rise in population,” said Ann-Marie Lurie, Chief Economist at CREB®. “Rising new home construction has bolstered supply in rental, new home and resales ownership markets. However, supply improvements vary significantly by location, price range, and property type.”

The months of supply have increased to over two months, representing a shift away from the extremely low levels seen earlier this year and in the past three Novembers, which reported under two months of supply. While these more balanced conditions are promising for potential buyers, many market segments still favour sellers.

Improved supply options have tempered the pace of price growth. Year-over-year gains range from nearly seven per cent for row homes to nine per cent for apartment-style units. The total residential benchmark price reached $587,900, reflecting a year-over-year increase of just under four per cent. This slower growth reflects a shift toward more affordable row and apartment-style units. Seasonally adjusted prices have remained stable over the past four months despite unadjusted prices trending down in line with seasonal patterns.

Airdrie
With 344 units available, Supply in Airdrie is returning to levels more consistent with activity reported prior to 2020. Supply levels have improved across all property types, with detached and row-style properties accounting for 84 per cent of the supply. While sales have remained strong relative to long-term trends, recent gains in new listings helped support improvements in supply levels.

Improved supply choice is taking some of the pressure off home prices. In November, the total residential benchmark price was $543,300, four per cent higher than last November. Apartment-style properties reported the largest year-over-year change at nearly 16 per cent.

Cochrane

New listings in the town reached a record high for November. The rise in new listings was met with a surge in sales, as November sales were amongst the highest levels reported in November. Much of the growth in sales was driven by detached activity. Strong sales activity prevented a significant shift in inventory levels, which remain 18 per cent below the month’s long-term trends.

The pace of price growth has eased over the past few months, which is not uncommon for this time of year. As of November, the unadjusted benchmark price was $568,600, nearly four per cent higher than levels reported last year at this time. While prices grew across all property types, the largest price gains were reported for apartment-style homes.

Okotoks

Unlike other centres, Okotoks reported a pullback in new listings to 47 units this month. At the same time, there were 52 sales, preventing any significant change to the low inventory situation in the area. Okotoks has struggled with supply since the end of 2020, keeping the months of supply low below two months throughout most of that time.

In November, the unadjusted benchmark price was $624,000, six per cent higher than last year’s levels. Prices have improved across all property types, with the largest gains occurring for row-style properties. Detached prices have also been on the rise and, in November, pushed up to $707,300.

Read the full release here www.creb.com/News/Media_Releases/2024/December/Supply_on_the_rise_but_not_across_all_price_ranges/ and connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

Deck the Halls: Your Ultimate Guide to Prepping Your Home for the Holidays

Tue, 26 Nov 2024 20:18:00 GMT

Ah, the holiday season is upon us! There’s nothing quite like the cozy warmth of a decorated home, the smell of fresh-baked cookies, and twinkling lights to get us all in the festive spirit. But getting your home ready can sometimes feel like a task worthy of Santa’s elves. Don’t worry, though—I’ve got you covered with some easy, fun ways to make your home holiday-ready without breaking a sweat!

Step 1: Declutter and Clean (Yes, really!)

Let’s start with the not-so-fun part: decluttering. I know, I know—it’s tempting to skip this step, but trust me, it’s essential. Imagine unboxing your holiday decorations and trying to squeeze them into an already-packed space. Instead, take an hour or two to go through your main living areas, stashing away things that might clutter up your holiday look. You’ll be glad you did when you have space to show off those cute snow globes and that heirloom menorah.

Step 2: Set the Mood with Lighting

One of the quickest ways to transform your home into a winter wonderland is with the right lighting. Grab a few strings of fairy lights or even some LED candles and scatter them throughout your space. These little touches create a cozy, magical vibe—without having to plug in the inflatable reindeer just yet.

For outdoor lighting, go as simple or as extravagant as you like! If you want to avoid Griswold-level electricity bills, try focusing lights around entry points like your front door and porch, or drape them over bushes for a simple but stunning effect.

Step 3: Style Your Entryway

First impressions count, even for your home! Take a few minutes to create a welcoming holiday scene in your entryway. A festive wreath, a small table with some seasonal décor, or even a holiday-scented candle can make a big difference. This doesn’t have to be an expensive makeover—many stores have adorable, budget-friendly holiday decorations to choose from.

Step 4: Add Seasonal Scents

Ever noticed how certain smells just make you think of the holidays? Whether it’s the scent of pine, cinnamon, or gingerbread, adding a bit of holiday aroma can bring out all the cozy feels. Light a scented candle, throw some cinnamon sticks in a pot with water on the stove, or try out an essential oil diffuser.

Step 5: Bring on the Greenery

Add a touch of greenery for an easy win. Whether you go with a real pine wreath, some fresh garland, or even a few sprigs of eucalyptus, a bit of greenery makes any room feel festive and inviting. If you’re not into the maintenance of real plants, plenty of realistic faux options can do the trick too!

Step 6: Prep the Guest Room

If you’re expecting overnight guests, give the guest room a little holiday love! You don’t need to go all-out, but adding a cozy throw, a few holiday pillows, and maybe a mini wreath above the bed can make guests feel extra special. A welcome basket with a few snacks, bottled water, and toiletries can also make them feel right at home.

Step 7: Don’t Forget the Kitchen

The kitchen might just be the heart of the holiday season. After all, this is where the magic (aka cooking and baking) happens! To keep the festive spirit going, consider adding a few simple decorations, like holiday-themed towels, a cute cookie jar, or a seasonal centerpiece for the dining table.

Step 8: Final Touches

Now that your home is looking fabulous, add those last little details that make all the difference. Arrange a few holiday pillows on the couch, drape a cozy throw blanket, and place holiday knick-knacks where they’ll shine. Don’t be afraid to mix and match; the holidays are all about having fun!

There you have it—your guide to holiday home prep that’s light on stress and big on joy. So, grab a cup of hot cocoa, turn on the holiday tunes, and get to decorating. Here’s to a season full of warmth, laughter, and the magic of home! Happy Holidays!

Get to Know Nadine: Your Trusted Calgary Real Estate Agent

Fri, 22 Nov 2024 20:18:00 GMT

I know many of you have probably already seen my name on many Facebook pages, real estate sites, many national & local news stories as well as Google searches. However, I wanted to share a little bit more about myself and my real estate journey.

When it comes to real estate, I like to keep things simple—because I’m a real person just like you. I have a home, two wonderful daughters, and all the day-to-day responsibilities that come with life. Calgary has been my home for over 35 years, and I take great pride in staying on top of the ever-changing real estate market to offer valuable insights to my clients.

With more than three decades of experience as a full-time real estate agent, I’ve seen it all—the ups, the downs, the booms, and the recessions. This extensive experience has equipped me with a deep understanding of market trends and pricing strategies. As a skilled negotiator, I’m here to make sure you get the best deal possible, whether you’re buying or selling. I take your goals as seriously as my own, ensuring that your interests are protected from start to finish.

Having lived in France, Africa, and now Calgary, I’ve been fortunate to experience and embrace diverse cultures. My life journey has also helped me build a strong connection with Calgary’s African French, French Parisian, and French-Canadian communities. I’m fluent in both French and English, making it easier for me to serve a broader range of clients.

I understand firsthand the stresses and complexities of buying, selling, and moving. I know what it’s like to juggle family life, pets, and house showings. That’s why I provide straightforward, no-nonsense information and guidance. My goal is to help you get top dollar for your home and make the entire process as smooth and stress-free as possible.

Over the years, by treating clients the way I’d like to be treated, I’ve earned the trust of many families across generations. Whether you’re a first-time buyer, a seasoned investor, or selling a family home, my commitment to personalized service and attention to detail remains the same.

I’ve been passionate about real estate since becoming a REALTOR® in 1993. My love for helping people and my dedication to this field shines through in everything I do. Whether you’re ready to make a move or just exploring your options, I’m here to provide a five-star experience. Let’s work together to make your real estate journey memorable and successful.

Give me a call and let’s get started! And visit me on Facebook and Google for the latest in all things real estate.

How the Bank of Canada Interest Rate Cuts Can Affect You as a Homebuyer or Homeowner

Tue, 19 Nov 2024 20:19:00 GMT

On October 23rd the Bank of Canada (BoC) cut interest rates to 3.75% and it’s more than just a headline in the financial news. For homebuyers and homeowners alike, a rate cut can significantly impact their financial decisions and the cost of owning a home. But how exactly does it affect you? Let’s break it down.

Lower Borrowing Costs for Homebuyers

If you’re in the market to buy a home, a Bank of Canada interest rate cut is generally good news. Here’s why:

Cheaper Mortgages: A reduction in interest rates often leads to lower mortgage rates, especially for variable-rate mortgages, which move in tandem with the BoC’s benchmark. If the rate cut is substantial enough, you might see a drop in fixed mortgage rates as well. This means that your monthly mortgage payments could be more affordable, making it easier to qualify for a mortgage.
Increased Buying Power: With lower rates, you may qualify for a larger loan amount, giving you more flexibility in the type of home you can buy. For example, a 1% decrease in interest rates could save you thousands of dollars in interest payments over the life of the loan, which can allow you to consider homes that were previously just out of your budget.
A More Competitive Market: The downside? More buyers can afford homes when rates drop, which may increase competition, especially in hot markets. This demand could drive home prices higher, potentially offsetting the benefits of a lower interest rate.

Impact on Homeowners with Mortgages

For current homeowners, the effects of a Bank of Canada interest rate cut depend largely on the type of mortgage you hold.

Variable-Rate Mortgage Holders: If you have a variable-rate mortgage, you’re in luck. Your monthly payments could decrease as your mortgage rate drops in line with the BoC’s cut. This can free up extra cash for savings, home improvements, or paying down other debts. Keep an eye on your lender’s rate announcements, as they typically adjust their rates soon after the BoC makes a move.
Fixed-Rate Mortgage Holders: If you’re locked into a fixed-rate mortgage, you won’t see an immediate impact from the rate cut. However, if your mortgage is up for renewal soon, you could benefit from refinancing at a lower rate. This can reduce your monthly payments or allow you to pay off your mortgage faster by keeping the same payments at a lower interest rate.
Line of Credit & HELOC: For those with a home equity line of credit (HELOC) or other variable-rate loans, the rate cut can lower the cost of borrowing. Since HELOCs are typically tied to the BoC’s rate, a decrease can result in lower interest payments, making it cheaper to tap into your home equity.

The Impact on Housing Prices

One of the more indirect, but critical effects of a Bank of Canada interest rate cut is its impact on housing prices. Lower interest rates often spur demand for housing, as more people are able to afford mortgages. This increased demand can push home prices upward, especially in cities or neighborhoods with limited housing supply.

While this is good news for homeowners looking to sell, it can be a challenge for prospective buyers. In some cases, the price increases may outweigh the savings from lower mortgage rates, particularly in high-demand markets.

The Bigger Picture: Inflation and Economic Stability

It’s important to remember that the Bank of Canada cuts interest rates to stimulate the economy. Lower borrowing costs encourage spending and investment, which can lead to economic growth. However, rate cuts can also lead to inflation if too much money enters the economy too quickly.

For homeowners, inflation can be a double-edged sword. On one hand, the value of your home might rise as housing prices inflate. On the other, the cost of living, including everything from groceries to utilities, may also increase, which could put a strain on your budget.

Final Thoughts

Whether you’re a prospective homebuyer or a current homeowner, a Bank of Canada interest rate cut can have significant implications for your financial decisions. Lower borrowing costs can make homeownership more affordable and give you more purchasing power, but rising home prices and inflation may counterbalance these benefits.

Stay informed about mortgage rates, consider your long-term financial goals, and if in doubt, consult a financial advisor or mortgage broker to determine how best to navigate rate cuts in your own home-buying journey.

By understanding how these rate changes work and affect you, you can make more informed decisions and potentially save a significant amount of money. Thinking about making a move? Let’s chat! And don’t forget to visit me on Facebook and Google!

Major changes to mortgage rules – what you need to know

Thu, 07 Nov 2024 20:19:00 GMT

The Canadian government is shaking things up for homebuyers with some major changes to mortgage rules, set to roll out in December 2024. Here’s a rundown of what’s changing and how these updates might impact you if you’re looking to buy, build, or renew your mortgage.

What’s New?

Higher Insured Mortgage Cap
For years, buyers needed to put down at least 20% on homes over $1 million if they wanted mortgage insurance. But starting December, the threshold jumps to $1.5 million. This is a nod to soaring housing prices, especially in cities like Toronto and Vancouver, where even modest homes often exceed that old cap.

30-Year Amortization for First-Time Buyers and New Builds
First-time homebuyers and those purchasing new builds will soon have the option of a 30-year amortization period. This means lower monthly payments, though it does lead to more interest paid over time. It’s designed to help more buyers get into the market without overwhelming monthly mortgage costs.

Easier Lender Switching at Renewal
Perhaps one of the most impactful changes, insured mortgage holders will now be able to switch lenders at renewal without having to undergo a stress test again. This opens up more competition among lenders, which could mean better deals for homeowners.

Why These Changes?

The changes aim to make housing more affordable, particularly for young and first-time buyers. With home prices still high and interest rates creeping up, it’s become harder for Canadians to step into homeownership. By increasing the insured mortgage cap and introducing longer amortization periods, the hope is to make housing more accessible.

What It Means for You

Lower Monthly Payments: The 30-year amortization could help new buyers lower their monthly payments, making homeownership a bit more manageable. Just keep in mind you’ll pay more in interest over the years.
More Affordable Down Payments: With the new $1.5 million cap, you may qualify for a mortgage with as little as 5% down on homes that previously required 20% upfront. This change could open doors in pricier markets.
More Lender Options: The ability to switch lenders without redoing the stress test is huge. It means you could shop around for better rates without worrying about disqualifying under the stress test, making mortgage renewals a little less stressful.

My Take on These Changes

Higher Cap on Insured Mortgages: This is bound to be helpful for homebuyers in high-cost areas, especially in Ontario and BC, who’ve been priced out by the $1 million cap. However, it might also fuel demand and potentially raise prices further. Personally, I’ve never liked the cap—it’s always felt like it unfairly favored certain markets over others due to the disparity in home prices across Canada.

30-Year Amortization: The idea here is that it might encourage builders to produce more homes, giving them a competitive edge by making new builds more affordable for buyers. It’s hard to say if this will work as intended, but any measure that can encourage supply growth is worth a shot. For first-time buyers, though, dropping the stress test entirely would likely have more immediate impact. Just as an example: a $400,000 mortgage with a 4.24% rate over 25 years has monthly payments of $2,156. Stretching that to 30 years reduces it to $1,957—a savings of nearly $200 a month, though you’d pay about $50,000 more in interest overall.

Stress-Test-Free Lender Switching: This is the change I’m most excited about. Allowing homeowners to switch lenders without going through the stress test levels the playing field and increases competition. Before, mortgage renewal offers were often less competitive since lenders knew it was hard for homeowners to shop around. Now, with easier lender switching, you can expect better rates, which should save money for many Canadians as they renew their mortgages in the coming years.

These updates represent some of the biggest changes to Canadian mortgage rules in a while, all aimed at tackling the housing affordability crisis. Whether you’re buying your first home, looking at a new build, or preparing to renew your mortgage, these changes bring more options and flexibility. Keep these new rules on your radar if you’re planning to jump into the market soon or have a mortgage renewal coming up. The full impact will become clearer as the rules take effect, but in the meantime, it’s a step towards making the Canadian dream of homeownership a little more attainable and I’ll be with you on your journey. Don’t forget to visit me on Facebook and Google!

October Real Estate Statistics

Fri, 01 Nov 2024 20:20:00 GMT

The October real estate statistics have been released by CREB® saying, sales gains for homes priced above $600,000 offset declines at the lower end of the market, resulting in October sales that were similar to last year. The 2,174 sales in October increased over September and stood 24 per cent above long-term trends for the month.

“Housing demand has stayed relatively strong in our market as we move into the fourth quarter, with October sales rising over last month,” said Ann-Marie Lurie, Chief Economist at CREB®. “However, activity would likely have been stronger if more supply choices existed for lower-priced homes. Supply levels in our market are improving relative to the ultra-low levels experienced last year, but much of the gains have been driven by higher-priced units for each property type. This results in conditions far more balanced in the upper end of the market versus the seller’s market conditions in the lower to mid-price ranges of each property type.”

The gains in new listings relative to sales over the past six months have supported inventory gains in the city. As of October, 4,966 units were available, a significant improvement over the near-record low of 3,205 units reported last October. While inventories are starting to reach levels more consistent with long-term trends, the inventory composition has changed as nearly half of all the residential inventory is now priced above $600,000.

Adjustments in supply are helping move the market away from the tight market conditions experienced in the spring. However, conditions remain relatively tight, with 2.3 months of supply and a 67 per cent sales-to-new listings ratio, and the months of supply does vary significantly by price range and property type. For example, detached homes priced below $700,000 are reporting less than two months of supply, while homes priced over $1,000,000 are reporting over three months of supply. This is likely resulting in different price pressures depending on price range and property type.

Overall, the total residential benchmark price was $592,500 in October, over four per cent higher than last October and on a year-to-date basis, averaging over eight per cent higher than last year’s levels. The unadjusted benchmark prices did ease slightly over last month due to seasonal factors, as seasonally adjusted prices remained relatively stable in October compared to September.

Airdrie

While both sales and new listings improved over the levels reported last October, the monthly pullback in new listings was enough to cause the sales-to-new-listings ratio to rise over last month, reaching 67 per cent. While this slowed the growth in monthly inventory levels, the 365 units in inventory is a significant gain over the exceptionally low levels of 213 reported last year at this time. Following three consecutive years of low inventory levels, recent gains are helping shift the market toward more balanced conditions.

A shift away from the extreme sellers’ market has reduced the pressure on home prices. The unadjusted benchmark price was down over last month in October, but it was still five per cent higher than last October. Some of the monthly decline is related to seasonal factors, as seasonally adjusted data indicates prices remained relatively stable over the past four months.

Cochrane

Sales this month improved over last year, keeping above long-term trends for the town. At the same time, new listings also improved, reporting the highest October total on record. Recent gains in new listings relative to sales have helped support some steady gains in inventory levels. However, with 178 units available in October, inventories are still below long-term trends, keeping the months of supply relatively low at 2.3 months.

While conditions are not as tight as in the spring, the shift is slowing the pace of price growth. The unadjusted benchmark price in October was slightly lower than last month but still six per cent higher than last year’s levels. Overall year-to-date average benchmark prices are over nine per cent higher than last year’s levels.

Okotoks

Sales in October improved over last year’s levels as recent gains in new listings provided choices for many buyers struggling with supply options. While the sales gain relative to new listings prevented further monthly gains in inventory levels, the 103 units available in October significantly improved over the near-record low of 66 units reported last October.

With less than two months of supply, conditions continue to favour the seller. The persistent seller market conditions have driven price growth in this market throughout most of the year. While unadjusted prices did ease slightly over last month in October, levels are still over six per cent higher than last October and over eight per cent higher on a year-to-date basis.

Read the full release here www.creb.com/News/Media_Releases/2024/November/Supply_levels_improving_for_higher-priced_homes/ and connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

New Land Titles Registration Levy in Alberta: What Homebuyers Need to Know

Sat, 26 Oct 2024 20:20:00 GMT

As of October 20, 2024, homebuyers in Alberta saw a change in their closing costs due to a new Land Titles Registration Levy introduced in Budget 2024. If you’re in the market to buy a property, this is something you’ll want to be aware of, as it affects the fees associated with land transfers and mortgage registrations.

What Changed?

Previously, Alberta’s land transfer and mortgage registration fees were calculated using a variable system, which included a base fee plus an additional amount based on the property or mortgage value. However, as of October 20, the structure was replaced by a new flat levy: $5.00 for every $5,000 of the property’s or mortgage’s value, plus a $50 flat fee.

Here’s a quick breakdown of the changes:

Before October 20, 2024:
- Land transfer fees: $50 + $2.00 per $5,000 of property value.
- Mortgage registration fees: $50 + $1.50 per $5,000 of mortgage value.
After October 20, 2024:
- A flat levy of $5.00 per $5,000 (for both land transfers and mortgage registrations), plus a $50 flat fee.

What Does This Mean for Buyers?

Let’s look at a real-world example: If you’re buying a $750,000 home with a $650,000 mortgage, your previous Land Titles Office fees would have been around $595. Now that the new levy has come into effect, those fees jumped to $1,500 – more than double the old cost! This increase could catch buyers off guard, so it’s important to factor this into your budget.

Want to Know the Exact Fees?

While the above example gives you an idea of the changes, the exact costs will depend on your specific transaction, and your lawyer will be the best person to give you an accurate fee calculation. It’s also important to note that while the cost has increased, Alberta levies still remain the lowest in Canada.

It’s important to stay on top of the ever-changing real estate landscape, now is a good time to get in touch if you have any questions or need assistance with your upcoming home purchase. Let’s make sure you’re prepared for everything that comes with buying a home! Don’t forget to connect with my on Facebook and Google for the latest in real estate news.

September Real Estate Statistics

Tue, 01 Oct 2024 20:20:00 GMT

New listing growth driven by higher-priced homes

CREB® released the September real estate stats with the headline being that new listing growth was driven by higher-priced homes. Rising sales in the upper price ranges were not enough to offset the pullback occurring in the lower price ranges, as sales in September were 2,003, 17 per cent below last year’s record high. Despite the decline, sales this month were still over 16 per cent higher than levels traditionally achieved in September.

“We are starting to see a rise in new listings in our market. However, most of the listing growth is occurring in the higher price ranges,” said Ann-Marie Lurie, Chief Economist at CREB®. “While demand has stayed strong across all price ranges, the limited choice for lower-priced homes has likely prevented stronger sales in our market. While the challenges in the lower price ranges are not expected to change, improved supply combined with lower lending rates should keep demand strong throughout the fall, but without the extreme seller market conditions that contributed to the rapid price growth earlier this year.”

New listings in September rose to 3,687 units, the highest September total since 2008. This rise in new listings compared to sales did support some inventory growth. September inventory levels pushed up to 5,064 units, nearly double the exceptionally low levels reported in the spring, but remain below the 6,000 units we typically see in September.

Improving inventory levels compared to sales is continuing to shift our market toward more balanced conditions. In September, the months of supply reached 2.5 months. While this is a gain over last year’s record low, conditions are still tilted in favour of the seller.

Additional supply in the market has taken some of the pressure off home prices over the past few months, following stronger-than-expected gains throughout the spring. In September, the unadjusted benchmark price was $596,900, slightly lower than last month but over five per cent higher than last year’s levels. Year-over-year gains ranged from nearly nine per cent growth for detached homes to nearly 14 per cent gains in the apartment condominium market. The gains for each property type outpaced the growth in total residential prices, mostly due to the shifting composition of sales.

Airdrie

Thanks to a boost in new listings relative to sales, inventory levels trended up in September, reaching 349 units, an improvement over the persistently low levels reported over the previous three years. With 151 sales in September, the months of supply rose to 2.3 months. While conditions still favour the seller, it is a significant improvement over the under two months of supply that has persisted since the start of 2021.

Improved supply choice has taken some of the pressure off home prices. However, with an unadjusted benchmark price of $551,000 in September, prices are nearly seven per cent higher than last year.

Cochrane

Over the past few months, easing sales did not offset earlier gains, as year-to-date sales were nearly six per cent higher than last year. However, like other areas, new listings in Cochrane have been on the rise, and the 50 per cent sales-to-new listings ratio this month helped support a gain in inventory levels. With 174 units in inventory and 58 sales, the months of supply in September rose to three months, the first time it has reached three months since the end of 2020.

While supply levels are improving, they remain well below long-term trends. Nonetheless, the gain prevented any further upward pressure on home prices this month. In September, the unadjusted benchmark price was $578,300, similar to last month but nearly nine per cent higher than last year.

Okotoks

A boost in new listings compared to sales supported inventory gains. While inventory levels have trended up over the past three months, the 106 units still represent exceptionally low levels for the town.

The months of supply reached two months in September, something we have not seen consistently since early 2021. While this is a significant improvement from levels seen in the spring, conditions still favour the seller. The unadjusted benchmark price in September reached $630,300, nearly one per cent higher than last month and nine per cent higher than levels reported last year.

Read the full release here www.creb.com/News/Media_Releases/2024/October/New_listing_growth_driven_by_higher-priced_homes/ and connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

Buying for the Short-Term: Tips on Protecting Your Home’s Value

Fri, 06 Sep 2024 20:21:00 GMT

When buying a home, many envision settling in for years or even decades. However, not all home purchases are long-term. Whether it’s due to personal preferences, life transitions, job relocations, or unexpected changes, sometimes life necessitates a short-term stay in a property. If you find yourself in this situation, it’s crucial to protect your home’s value, even if you plan to sell sooner than most homeowners, typically within seven years. Here are some key considerations to help you make a smart investment for the short term.

Prioritize Location

Location is a critical factor in real estate, and this holds especially true for short-term homeowners. Urban properties close to schools, transit, and other amenities tend to sell more easily and retain their value. Opting for a downtown condo over a remote countryside estate might make more sense if you plan to sell soon. Beyond neighborhood appeal, avoid main roads with heavy traffic and look for homes with desirable features like a sunny southern exposure.

Consider the community you’re buying into as well. Investing in the best neighborhood you can afford, even if it means purchasing the least expensive house on the block, can offer great resale potential. Additionally, research the average days on market in the area to ensure you buy in a location where homes sell quickly.

Choose the Right Type and Age of Home

When buying for the short term, consider newer homes, especially those in high demand in your area, like single-family homes versus townhomes or condos. While older homes may have charm and unique features, they often require more maintenance and may not appeal to younger buyers looking for updated properties. If you opt for an older home, ensure it has recent upgrades to major systems such as the roof, plumbing, and heating.

Look for homes with at least three bedrooms and two bathrooms, even if the second bathroom is a half bath. This can help attract a larger pool of potential buyers when it’s time to sell.

Evaluate Upcoming Renovations

Consider the cost of any necessary renovations before buying. If the home requires significant repairs, such as a new roof, these costs will either need to be covered by you or deducted from the sale price. It might be wiser to choose a property that doesn’t require immediate costly renovations.

For those who wish to personalize their home, focus on value-adding renovations that aren’t too expensive, like updating light fixtures or applying a fresh coat of paint. Key areas to consider are the kitchen, bathrooms, and exterior, which can offer substantial returns even in the short term.

Regular Maintenance

Even if your ownership is short-term, keep up with regular maintenance and cleaning to ensure the property remains in good condition and retains its value.

Review the City Area Plans

Before finalizing your purchase, take a look at what the city has planned for the area. You might discover easements or rights-of-way that might restrict property use and will give insight into any significant changes planned for the neighborhood. Understanding potential developments, like new high-rises that could block views or new schools that could increase property value, is crucial for making an informed decision.

Be Cautious with Unique Features

A home with unique features, like an indoor pool or a converted garage, might appeal to you but could limit your pool of potential buyers. Consider whether the lower resale price is worth the enjoyment of these features for a few years.

By keeping these considerations in mind, together, we can find a home that suits your current needs while safeguarding your investment for a future sale. Visit me on Facebook and Google!

August Real Estate Statistics

Tue, 03 Sep 2024 20:22:00 GMT

The August stats have been released by CREB®, reporting that the Calgary housing market saw a shift as activity continues to move away from the extreme sellers’ market conditions experienced throughout the spring. Easing sales, combined with gains in supply, pushed the months of supply above two months in August, a level not seen since the end of 2022.

As expected, rising new home construction and gains in new listings are starting to support a better-supplied housing market,” said Ann-Marie Lurie, Chief Economist at CREB®. “This trend is expected to continue throughout the remainder of the year, but it’s important to note that supply levels remain low, especially for lower-priced properties. It will take time for supply levels to return to those that support more balanced conditions.

Inventory levels in August reached 4,487 units, 37 per cent higher than last August but nearly 25 per cent lower than long-term trends for the month. Higher-priced properties mostly drove the supply gains, as the most affordable homes in each property type continued to report supply declines.

The supply gains were made possible by both an increase in new listings in August and a pullback in sales activity. There were 2,186 sales in August, representing a 20 per cent decline from last year’s record high but still 17 per cent higher than long-term averages for the month. The sales declines were driven by homes priced below $600,000.

Following stronger-than-expected gains earlier in the year, the pace of price growth is starting to slow. In August, the total unadjusted residential benchmark price was $601,800, six per cent higher than last year and just slightly lower than last month. Year-to-date, the average benchmark price rose by nine per cent.

Airdrie

New listings in Airdrie continued to rise this month compared to last year. However, with 242 new listings and 172 sales, the sales-to-new-listings ratio remained relatively high at 71 per cent. This prevented a stronger gain in inventory levels and kept the months of supply below two months. The tightest conditions in the market continue to be in the lower price ranges of each property type.

While conditions continue to favour the seller, they are not as tight as during the spring months, taking some pressure off home prices. In August, the unadjusted benchmark price was $553,300, similar to last month and nearly eight per cent higher than last year.

Cochrane

August reported 81 sales and 109 new listings, keeping the sales-to-new-listings ratio elevated at 74 per cent, enough to prevent any gain in inventory levels. With 144 units available, inventory levels are nearly 42 per cent below long-term trends for the month.

Persistently tight conditions continue to drive further price growth in the town. In August, the unadjusted benchmark price was $578,600, slightly higher than last month and over eight per cent higher than last year’s levels. Prices have risen across all property types, with the largest gains occurring for apartment-style properties.

Okotoks

A boost in detached sales supported the rise in August sales compared to last year. The 67 sales in August were met with 84 new listings, pushing the sales-to-new-listings ratio near 80 per cent. This prevented any significant shift in inventory levels, which remain nearly 47 per cent lower than long-term trends.

With just over one month of supply, conditions remain relatively tight. The unadjusted benchmark price in August was $622,700, similar to last month and over seven per cent higher than last August.

Read the full release here www.creb.com/News/Media_Releases/2024/September/Calgary_housing_market_sees_shifts/ and connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!

Get a Head Start on Your Winter HVAC Prep

Tue, 27 Aug 2024 20:22:00 GMT

Your HVAC system is the heart of your home, keeping you comfortable year-round. As winter approaches, it’s crucial to ensure your system is in top working condition. Whether you’re a seasoned DIYer or just looking for a few tips, there are simple, cost-effective ways to maintain your HVAC system in the short, medium, and long term.

Short-Term Maintenance Tips

Regular maintenance can extend the life of your HVAC system, improve indoor air quality, lower energy bills, and keep your system running smoothly in every season. In the short term—weekly, monthly, or bi-monthly—you can perform these simple tasks:

Check smoke and carbon monoxide detectors monthly.
Inspect and replace air filters as needed. Dirty filters restrict airflow, making your system work harder and consume more energy. Invest in high-quality wired mesh filters with a MERV rating between eight and 13 for optimal filtration and efficiency.
Keep indoor vents and registers clear of clutter. Ensure they aren’t accidentally closed.
Clean registers, vents, and outdoor HVAC units every few weeks. Remove dust and debris, and maintain at least two feet of clearance around outdoor units.
Monitor monthly energy bills for spikes in consumption. This could indicate a problem.

Medium-Term Maintenance Tips

Yearly maintenance is equally important to avoid unnecessary breakdowns or repairs:

Invest in a programmable thermostat.
Clean the air conditioner’s evaporator coil and drain line yearly.
Check the heating system for leaks and seal gaps around windows, doors, and ductwork.
Hire an HVAC professional to inspect the entire system once or twice a year. This prevents serious problems before they occur.

After high winds or snowstorms, ensure outside vents, gas meters, propane tanks, and oil tank pipes aren’t blocked or damaged.

Long-Term Maintenance Tips

For long-term efficiency and low energy bills, consider these steps:

Have your furnace gas line inspected every few years.
Inspect and clean ducts every two to three years or after large renovations. Be cautious of unsolicited service calls.
Upgrade your HVAC system if it’s 15 to 25 years old. Modern systems are more efficient and reliable.
Explore energy-efficient options like heat pumps when replacing your system. Heat pumps can save hundreds on energy costs annually.

Warning Signs of Trouble

Even with diligent maintenance, issues can arise. Watch for these warning signs:

Reduced airflow or uneven heating and cooling.
Strange noises or smells from the system.
Frequent cycling (turning off and on).
Difficulty maintaining a comfortable temperature.
Sudden increases in utility bills.

If you notice any of these, address them promptly to prevent further damage.

How to Troubleshoot Common Problems

While most HVAC issues require a professional, you can troubleshoot a few common problems:

Clean or replace the air filter.
Ensure vents and registers aren’t obstructed.
Check the furnace’s power supply and reset the breaker or fuse if necessary.
Verify the thermostat is on and set correctly; replace batteries if needed.

Know When to Call a Professional

While regular maintenance can prevent many issues, some problems are best left to certified technicians. Attempting to fix complex digital HVAC systems yourself can cause more harm. For anything beyond cleaning vents or changing filters and batteries, it’s safer to call a professional.

Taking these steps can keep your HVAC system running efficiently all winter long, ensuring a comfortable home and lower energy bills. Start your maintenance now and enjoy peace of mind throughout the colder months. Don’t forget to visit me on Facebook and Google!

CREB® releases Q2 2024 Calgary and region housing market report

Tue, 13 Aug 2024 20:23:00 GMT

The Calgary Real Estate Board (CREB®) has released its Q2 2024 housing market report, providing an overview of the real estate landscape in Calgary and surrounding areas. The report showcases trends in sales and pricing, offering valuable insights for industry professionals and prospective homebuyers and sellers.

The latest data reveals that new listings have risen for the fourth consecutive quarter compared to the previous year. Much of the gains have occurred in the upper price ranges of each property type, as rising prices and persistently high lending rates are encouraging more sellers to list their properties. The increase in new listings compared to sales caused the sales-to-new listings ratio to fall below 80 per cent for the first time since Q1 2023. While this shift has supported some inventory gains, it is important to note that the market continues to favour sellers with a Q2 sales-to-new-listings ratio of 75 per cent and a months-of-supply of one month.

In the second quarter, sales slowed by three per cent compared to the same period last year. The decline was driven by lower-priced properties, where supply levels are the lowest. Despite this slowdown, sales levels remained 29 per cent above long-term trends. After the first half of the year, sales were nearly six per cent higher than last year’s levels.

“The unexpected surge in migration over the past two years has contributed to the demand growth and supply challenges experienced in the Calgary market,” said Ann-Marie Lurie, Chief Economist at CREB®. “While we still have to work through the pent-up demand, slowing migration levels and supply gains in the resale and new home markets should start to support more balanced conditions, taking some of the pressure off home prices.”

So far this year, home prices have risen by 10 per cent, with the most significant gain occurring in row properties at 19 per cent and the lowest growth of 13 per cent in detached and semi-detached homes. Moving forward, increased supply generated through the new home sector will help support a better-supplied rental and ownership market, reducing pressure on home prices. Slowing price growth is anticipated throughout the second half of the year as supply levels improve. However, conditions will vary based on property type and price range. Much of the supply growth is expected to impact higher-priced properties, slowing their growth. Meanwhile, persistently tight conditions for the most affordable properties will continue to drive further price increases.

Check out the full report here, including information on Calgary’s surrounding communities www.creb.com/-/media/Public/CREBcom/Housing_Statistics/Quarterly_Reports/Q22024ForecastReport.pdf. Keep on top of all the latest real estate news and information, join me on Facebook and Google!

Bank of Canada Cuts Interest Rates Again: What It Means for the Economy

Tue, 06 Aug 2024 20:26:00 GMT

On July 24, 2024, the Bank of Canada announced another reduction in its target for the overnight lending rate, lowering it from 4.75% to 4.5%. This move, widely anticipated by financial markets, marks the second rate cut since the onset of the pandemic four years ago, bringing rates back to their levels from April 2023.

Economic Context and Reasons Behind the Cut

In its announcement, the Bank highlighted that while Canada’s economy saw growth in the first half of 2024, this growth was outpaced by population expansion. Consumer spending and the housing market are currently showing signs of weakness. Employment has been increasing, but at a slower rate compared to the growth of the working-age population, which is now expected to rise more quickly than previously anticipated.

The Bank of Canada forecasts that economic growth will gain momentum throughout the rest of 2024 and into 2025 as borrowing costs decrease. This easing of monetary policy is expected to boost exports, household spending, and both business and residential investments.

Inflation and Housing Market Challenges

The Bank remains focused on high shelter costs, which significantly contribute to inflation. Despite this, both headline and core inflation measures have moderated and are now close to historical norms.

In its Monetary Policy Report, the Bank also addressed several issues hindering housing supply growth, including:

Municipal zoning restrictions
High development fees
Lengthy and costly permitting processes
Shortages of skilled construction workers

Although excess supply in the economy is currently helping to lower inflation, the Bank is keeping a close watch on shelter and services costs, which are pushing inflation in the opposite direction. The Bank emphasized that future monetary policy decisions will be informed by incoming data and their implications for the inflation outlook.

Looking Ahead

The next scheduled interest rate announcement from the Bank of Canada is set for Wednesday, September 4, 2024. Additionally, the Bank will release its comprehensive economic and inflation outlook in the next Monetary Policy Report on Wednesday, October 23, 2024.

Stay tuned for more updates as the Bank of Canada navigates these complex economic conditions, balancing efforts to support growth while keeping inflation in check. I’m always here to help navigate the real estate waters and you can join me on Facebook and Google for the latest news!

July Real Estate Statistics

Thu, 01 Aug 2024 20:27:00 GMT

CREB® released the July statistics saying, with the busy spring market behind us, we are starting to see some shifts in supply levels. With 2,380 sales and 3,604 new listings, the sales-to-new listings ratio fell to 66 per cent, supporting a gain in inventory.

Inventories rose to 4,158 units, still 33 per cent below what we typically see in July, but the first time they have pushed above 4,000 units in nearly two years. Although the majority of supply growth occurred for homes priced above $600,000, the rise has helped shift the market away from the extreme sellers’ market conditions experienced throughout the spring.

“While we are still dealing with supply challenges, especially for lower-priced homes, more options in both the new home and resale market have helped take some of the upward pressure off home prices this month,” said Ann-Marie Lurie, Chief Economist at CREB®. “This is in line with our expectations for the second half of the year, and should inventories continue to rise, we should start to see more balanced conditions and stability in home prices.”

July sales eased by 10 per cent over last year’s record high but were still higher than long-term trends for the month. Like last month, the pullback in sales has been driven by homes priced below $600,000. Nonetheless, the gain in inventory combined with slower sales caused the months of supply to rise to 1.8 months, still low enough to favour the seller but a significant improvement from the under one month reported earlier this year.

Improved supply helped slow the pace of monthly price growth for each property type. In July, the total residential benchmark price was $606,700, similar to last month and nearly eight per cent higher than last year’s levels.

Airdrie

New listings in July rose to 287 units, the highest level ever reported for July. At the same time, sales slowed to 186 units, supporting some gains in inventory levels. While inventories have improved, the 298 units are still 26 per cent lower than typical levels seen in July.

Inventory gains have occurred across most price ranges in Airdrie but conditions continue to remain relatively tight, especially in the lower price ranges of each property type. Overall, the unadjusted benchmark price in July was $553,900, similar to last month but eight per cent higher than last year’s levels.

Cochrane

July sales improved over last year’s levels, contributing to the year-to-date gain of nearly eight per cent. While new listings also improved compared to last year in July, it was not enough to cause any significant shift from the low inventory levels.

With a sales-to-new-listings ratio of 83 per cent and months of supply of 1.5 months, the market remained relatively tight, and prices continued to rise. In July, the unadjusted benchmark price reached $576,600, nearly one per cent higher than last month and nine per cent higher than last year’s levels.

Okotoks

A pullback in sales relative to new listings helped support gains in higher inventory levels in Okotoks. While inventory levels are 25 per cent higher than last year, the 85 units still reflect exceptionally low inventory levels and are half the levels typically seen in July.

With a sales-to-new listings ratio of 78 per cent and months of supply of 1.3 months, conditions continue to favour the seller. While there have been some monthly price fluctuations, the unadjusted benchmark price in July reached $622,200, over six per cent higher than last July.

Read the full release here www.creb.com/News/Media_Releases/2024/August/Supply_levels_improve_taking_some_pressure_off_prices/ and connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google to be a part of the action!

How to get ready to buy a house

Fri, 26 Jul 2024 20:27:00 GMT

Buying a house is a monumental milestone, one that involves careful planning and preparation. Whether you’re a first-time homebuyer or looking to upgrade, the journey to homeownership can be both exciting and daunting. Here’s a step-by-step guide to help you navigate the process and get ready to buy your dream home.

Assess Your Financial Health

Check Your Credit Score: Your credit score plays a crucial role in securing a mortgage. Obtain your credit report from the major credit bureaus and ensure there are no errors. A healthy credit score can help you get better loan terms.
Manage Your Debt: Lenders look at your debt-to-income ratio. Aim to pay down high-interest debt and avoid taking on new debt before applying for a mortgage.
Save for a Down Payment: Typically, you’ll need at least 20% of the home’s purchase price for a down payment to avoid private mortgage insurance (PMI). However, some loans require as little as 5% down. Additionally, budget for closing costs, which can be 2-5% of the home’s price.
Build an Emergency Fund: Homeownership comes with unexpected expenses. Having a solid emergency fund ensures you’re prepared for any surprises.

Determine What You Can Afford

Calculate Your Budget: Use an online mortgage calculator to estimate your monthly payments based on different home prices, interest rates, and down payment amounts. Remember to include property taxes, homeowners insurance, and maintenance costs.
Get Pre-Approved for a Mortgage: A mortgage pre-approval gives you a clear picture of what you can afford and shows sellers that you’re a serious buyer. Shop around for mortgage rates and terms from different lenders.

Research the Market

Choose the Right Location: Consider factors like proximity to work, schools, amenities, and future development plans. Research neighborhood safety, property taxes, and community services.
Understand Market Conditions: Are you in a buyer’s or seller’s market? Understanding market trends can help you make informed decisions about when and where to buy.

Start House Hunting

Make a List of Must-Haves: Identify your priorities in a home, such as the number of bedrooms, bathrooms, yard size, and essential features like a garage or a modern kitchen.
Call your real estate agent – ME: An expert, like myself, can provide invaluable insights, help you find homes that meet your criteria, and negotiate the best deal.

Make an Offer and Secure Financing

Make a Competitive Offer: Based on your budget and market research, make an offer that is fair but competitive. Be prepared for negotiations.
Get a Home Inspection: A thorough inspection can reveal potential issues with the property. Use the findings to negotiate repairs or a lower price.
Finalize Your Mortgage: Once your offer is accepted, work with your lender to complete the mortgage process. Provide all necessary documentation promptly to avoid delays.

Close the Deal

Review Closing Documents: Carefully review all documents before signing. Ensure you understand the terms and conditions of your mortgage.
Closing Time: Sign all paperwork a week or two before possession date. Your lawyer will make sure everything flows to the seller so you can receive the keys to your new home on moving day.

Move In and Settle

Plan Your Move: Coordinate your move to ensure a smooth transition. Update your address, transfer utilities, and notify important contacts of your move.
Personalize Your Space: Make your new house feel like home by personalizing it with your style and preferences.

Buying a house is a significant investment and requires thoughtful preparation. By assessing your financial health, understanding your budget, researching the market, and working with professionals, you can navigate the home buying process with confidence. Take your time, do your homework, and soon you’ll be unlocking the door to your new home. I’ll be with you every step of the way and you can stay connected by visiting me on Facebook and Google!

Title Insurance vs. Real Property Report (RPR): What You Need to Know

Tue, 23 Jul 2024 20:29:00 GMT

When buying or selling property, understanding the nuances between Title Insurance and a Real Property Report (RPR) is crucial. Both play significant roles in real estate transactions, but they serve different purposes and offer distinct benefits. Here’s a breakdown to help you navigate these important tools.

What is Title Insurance?

Title insurance is a type of insurance policy that protects property owners and lenders against potential issues with the property’s title. These issues might include:

Title defects: Errors in public records, fraud, forgery, or undisclosed heirs.
Encroachments: Structures on the property that may encroach on neighboring properties.
Zoning issues: Problems related to zoning law violations.

Title insurance provides coverage for as long as you own the property, giving you peace of mind against future claims or legal disputes over your property’s title.

What is a Real Property Report (RPR)?

A Real Property Report (RPR) is a legal document prepared by an Alberta Land Surveyor that illustrates the boundaries of a property and the location of significant improvements (such as buildings, garages, sheds, fences, decks, etc.) relative to the boundaries. An RPR typically includes:

Property dimensions: Exact measurements and boundaries.
Structures: Locations of buildings and other improvements.
Encroachments: Any structures that might infringe on neighboring properties or municipal land.
Compliance: Certification from the municipality that the property complies with local bylaws and regulations.

An RPR is often required by the buyer’s lender and is useful for identifying any potential boundary disputes or bylaw infractions before a property transaction is completed.

Key Differences Between Title Insurance and RPR

Purpose:
- Title Insurance: Provides financial protection against title-related issues that may arise after the purchase.
- RPR: Offers a detailed survey and assessment of the property’s boundaries and structures before the transaction.
Coverage:
- Title Insurance: Covers defects, encroachments, and other title-related issues, offering peace of mind and financial protection.
- RPR: Ensures that the property complies with local regulations and accurately reflects property boundaries and structures.
Timing:
- Title Insurance: Can be purchased anytime during the ownership of the property.
- RPR: Typically prepared and reviewed before the completion of the transaction.
Cost:
- Title Insurance: Generally, a one-time premium based on the property value.
- RPR: Costs can vary depending on the complexity of the property and surveyor fees.

Which One Should You Choose?

In Alberta, it’s not a matter of choosing between title insurance and an RPR; rather, both are often used in conjunction to provide comprehensive protection and assurance. An RPR can identify physical issues with the property before the sale, while title insurance can cover unforeseen title-related problems that may arise after the purchase.

For Buyers:

Ensure the property has a current and compliant RPR to identify any potential issues.
Consider purchasing title insurance to safeguard against future title disputes or defects.

For Sellers:

Providing an updated RPR can facilitate a smoother transaction and build buyer confidence.
Be prepared for the buyer to request title insurance as a condition of the sale.

Both title insurance and a Real Property Report play essential roles in our real estate market. By understanding the differences and benefits of each, you can make informed decisions to protect your investment and ensure a seamless property transaction. Always consult with your real estate agent, lawyer, or financial advisor to determine the best course of action for your specific situation. Visit me on Facebook and Google for more on all things real estate!

A Guide to Low-Income Supports in Calgary

Fri, 19 Jul 2024 20:29:00 GMT

Living on a low income can be challenging, but Calgary, and the province, offers various supports and resources to help individuals and families navigate these difficulties. From housing assistance to food security programs, here’s a comprehensive guide to the low-income supports available in Calgary.

Affordable Housing and Rent Assistance

Housing is a fundamental need, and Calgary has several programs to assist low-income residents in securing and maintaining affordable housing.

Calgary Housing Company (CHC): The CHC provides affordable housing options for low and moderate-income families, seniors, and individuals. They offer a variety of housing options, including social housing and affordable rental units.
Rent Supplement Programs: These programs provide financial assistance to help cover rent costs for eligible low-income households. The programs are designed to reduce the rent burden and ensure housing stability.

Financial Assistance Programs

For those struggling to meet their basic needs, several financial assistance programs are available.

Alberta Works: This program offers income support to individuals and families in need. It includes emergency financial assistance, employment and training services, and health benefits.
Assured Income for the Severely Handicapped (AISH): AISH provides financial and health benefits to eligible adults with a permanent disability that severely impacts their ability to earn a living.

Food Security and Nutrition Programs

Ensuring access to nutritious food is crucial for health and well-being. Calgary has multiple food security programs aimed at helping low-income residents.

Calgary Food Bank: The food bank offers emergency food hampers to individuals and families in need. They also run various programs to address the root causes of food insecurity.
Brown Bagging for Calgary’s Kids (BB4CK): This program provides lunches to school-aged children who might otherwise go without. It ensures that children have access to nutritious food during the school day.

Health and Wellness Services

Access to healthcare and wellness services is vital for everyone, regardless of income.

Calgary Urban Project Society (CUPS): CUPS provides integrated healthcare, education, and housing services to help people overcome poverty. Their health clinic offers medical, dental, and mental health services.
Alberta Health Services (AHS) Community Programs: AHS provides a range of community-based health services, including public health nursing, addiction services, and mental health support.

Employment and Training Programs

Finding and maintaining employment is key to breaking the cycle of poverty. Calgary offers several programs to support job seekers.

Momentum: This organization offers programs to help individuals gain the skills needed for employment, start a business, or manage finances. They provide training, workshops, and support services.
Calgary Labour Market Information: This resource provides up-to-date information on job trends, training opportunities, and employment services available in Calgary.

Community and Social Supports

Building a strong support network is essential for resilience and well-being.

211 Alberta: This is a 24/7 helpline that connects individuals with community and social services. It covers a wide range of needs, including housing, food, mental health, and employment support.
Neighbourhood Services: These services offer community-based programs and resources to support families and individuals. They focus on enhancing community engagement and well-being.

City of Calgary Subsidy Program

Being able to experience what Calgary has to offer can go a long way to support your mental health while experiencing financial struggles.

Fair Entry program: This amazing initiative lets you apply for multiple programs and services with one application, with eligibility based on your income. Benefits include discounted transit passes, no cost spay/neuter, senior home maintenance, property tax assistance, reduced rate high-speed internet and significant discounts for recreation facilities like the Calgary Zoo, Heritage Park, TELUS Spark, Vertigo Theatre, Calgary recreation programs and so much more.

Navigating life on a low income can be challenging, but Calgary offers a robust network of supports to help residents meet their needs and improve their quality of life. Whether it’s through housing assistance, financial aid, food security programs, health services, employment training, or community support, there are resources available to help. If you or someone you know is in need, reaching out to these programs can make a significant difference. Remember, help is available, and you don’t have to face these challenges alone. Visit me on Facebook and Google!

June Real Estate Statistics

Tue, 02 Jul 2024 20:30:00 GMT

CREB® released the June statistics, reporting that sales in June reached 2,738, marking a 13 percent decline from last year’s record high. Although sales improved for homes priced above $700,000, it was not enough to offset the declines reported in the lower price ranges. Despite the easing in June sales, they remain over 17 percent higher than long-term trends.

“The pullback in sales reflects supply challenges in the lower price ranges, ultimately limiting sales activity,” said Ann-Marie Lurie, Chief Economist at CREB®. “Inventory in the lower price ranges of each property type continue to fall, providing limited choices for potential purchasers looking for more affordable product. It also continues to be a competitive market for some buyers with over 40 per cent of the homes sold selling over list price.”

This month, new listings also eased relative to sales, causing the sales-to-new-listings ratio to remain elevated at 72 per cent. Inventory levels did improve over last year’s low levels, primarily due to gains in the higher price ranges. However, with 3,789 units available, levels remain 40 per cent lower than long-term trends.

The modest change in inventory levels helped increase the months of supply. However, at 1.4 months, conditions continue to favor sellers. Persistently tight conditions drove further price gains this month. In June, the unadjusted benchmark price rose to $608,000, a gain over last month and nearly nine per cent higher than last year. Prices rose across all districts, with the most significant year-over-year gains occurring in the North East and East districts.

Airdrie

June sales remained relatively stable compared to last year at levels that remain well above long-term averages. At the same time, we saw a boost in new listings this month compared to last year. However, with 269 new listings and 209 sales, the sales-to-new-listings ratio remained elevated at 78 per cent, keeping inventories relatively low based on historical standards.

Like Calgary, Airdrie is experiencing the tightest conditions for the most affordable sectors of the market, and prices continue to rise. In June, the unadjusted benchmark price rose to $554,500, nearly one per cent higher than last month and nine per cent higher than last year’s levels. Price growth has been the highest for apartment-style properties.

Cochrane

June sales improved over last year’s levels, contributing to the year-to-date gain of seven per cent. This was possible thanks to the boost in new listings in June. However, the gains in new listings did little to impact the inventory levels, which remained consistent with levels reported last year and are 44 per cent lower than levels we typically see in June.

With nearly one and a half months of supply, conditions continue to favour the seller, driving further price gains this month. In June, the unadjusted benchmark price was $571,100, an increase over last month and nearly nine per cent higher than last year’s levels. Like Airdrie, the price growth was strongest for apartment-style units, which are also the most affordable products available in the town.

Okotoks

Sales in June slowed compared to last year, mostly due to a pullback in the detached sector. Sales activity has been somewhat restricted due to the limited supply options. As of June, there were 81 units in inventory, 56 per cent lower than levels we typically see in the month, and detached supply is nearly 63 per cent lower.

Persistently tight market conditions have kept prices elevated compared to last year. While there has been some monthly fluctuation, year-to-date prices are nearly nine per cent higher than last year’s levels.

Read the full release here www.creb.com/News/Media_Releases/2024/July/June_sales_decline_amid_supply_challenges_and_rising_prices/ and connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google to be a part of the action!

The Ultimate Guide to Cooling Down in Calgary This Summer

Tue, 25 Jun 2024 20:31:00 GMT

Summer in Calgary, Alberta, can get pretty hot, but fear not—there are plenty of fantastic places to beat the heat. Whether you’re a local or a visitor, here’s your ultimate guide to cooling down and enjoying the summer sun in Calgary.

Glenmore Reservoir

Located in the southwest of Calgary, Glenmore Reservoir is a fantastic spot for water activities. You can rent a kayak, canoe, or paddleboard to enjoy a refreshing time on the water. The surrounding parks, like North Glenmore Park and South Glenmore Park, offer shaded picnic spots, walking paths, and playgrounds, making it a great family outing destination.

Sikome Lake

Sikome Lake, in Fish Creek Provincial Park, is a man-made lake that is perfect for swimming. Open from June to September, it features sandy beaches, picnic areas, and even concessions for a classic summer beach day experience. With lifeguards on duty, it’s a safe place for families to enjoy the water.

Calgary Zoo

While the Calgary Zoo might not be the first place you think of to cool down, it offers plenty of shady areas and indoor exhibits. The lush gardens and enclosures provide a cool respite from the sun. Don’t miss the Penguin Plunge exhibit, where you can enjoy the cool environment and watch penguins frolic in icy waters.

Bowness Park

Bowness Park, situated along the Bow River, is a popular spot for picnicking and boating. Rent a paddleboat or canoe to explore the lagoon, or simply enjoy the shaded grassy areas. The park’s wading pool and spray park are perfect for young children to splash around and stay cool.

Calaway Park

For a fun-filled family day, head to Calaway Park. Western Canada’s largest outdoor amusement park features water rides and splash zones perfect for cooling off. The Timber Falls log ride and the Bumper Boats are especially popular for getting soaked while having a blast.

Heritage Park Historical Village

Heritage Park offers a unique blend of history and leisure. The park is home to an antique midway, where you can enjoy old-fashioned ice cream and cold beverages. The Glenmore Reservoir also borders the park, providing cool breezes and scenic boat rides on the S.S. Moyie.

Village Ice Cream

Sometimes, nothing beats the heat like a scoop of ice cream. Village Ice Cream has several locations in Calgary and offers a variety of artisanal flavors. Enjoy your treat in the air-conditioned comfort of their shops or take it to-go and explore the surrounding areas.

Prince’s Island Park

Located in the Bow River, Prince’s Island Park is an urban oasis in downtown Calgary. The park offers plenty of shaded areas, walking paths, and access to the river for wading or dipping your feet. The annual Calgary Folk Music Festival held here in July also provides plenty of opportunities to enjoy live music in the shade.

Nose Hill Park

For those who enjoy hiking, Nose Hill Park offers extensive trails with panoramic views of the city and the mountains. While it can get hot, early morning or evening hikes can be quite refreshing, and the higher elevation often means cooler temperatures and breezes.

Devonian Gardens

Right in the heart of downtown Calgary, Devonian Gardens is a unique indoor botanical garden. This tropical oasis features over 500 trees, a variety of plants, and koi ponds. The air-conditioned environment provides a cool retreat while you explore the lush greenery.

Calgary has no shortage of places to cool down during the summer. From outdoor water activities and shaded parks to indoor attractions and ice cream shops, there’s something for everyone to enjoy. So grab your sunscreen, hat, and water bottle, and make the most of Calgary’s sunny summer days. Don’t forget to visit me on Facebook and Google!