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Calgary Home Boys Real Estate Blog

Across the entire city of Calgary, sales totaled 16,144 last year. Unfortunately, that sales volume is almost 15 percent below sales in 2017, and around 20 percent below long-term averages according to CREB.  

Broken down by district, East Calgary saw the fewest number of sales, 501, while City Centre saw the most sales with 3,134. In addition, sales in nearly every price category dropped, even for lower priced homes where demand was among the strongest.

In fact, product priced under $300,000 jumped from 18 percent of overall sales in 2017 to 20 percent of overall sales in 2018. Not surprisingly, homes priced between $600,000 and $999,999 dropped from 18 percent of overall sales in 2017 to just 16 percent of overall sales last year. 

For further

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New Construction Starts in Calgary 2018As you might’ve already heard, new home starts throughout Calgary slowed in 2018, at least in terms of detached and semi-detached homes. In the apartment sector, however, new construction starts did jump a bit, especially on the condo side of the market. 

As of last December, 81% percent of all residential product under construction in Calgary was multi-family, and apartment-style product accounted for 7,155 of the 11,452 units being developed at that time. 

The bulk of apartment construction in Calgary was focused on condos, as mentioned, but rental apartment construction was still on the rise as well. 

Collectively, 2018 saw 10,971 units start construction in Calgary, representing a 4.9% decline compared to 2017. 

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Calgary Housing Market 2019It’s no secret the Calgary housing market faced a number of challenges in 2018. But looking ahead, just what can we expect as we get a little further into 2019? Here’s a closer look at CREB’s 2019 forecast: 

  • Overall sales in Calgary are project to reach 15,882 units. While somewhat comparable to 2018, that sales volume is still well below historical levels. 
  • Re-sale homes will still remain oversupplied thanks to weak economic expectations for the rest of the year. As a result, home prices should fall by around 2.34%. 
  • New supply is expected to slow in 2019, which should help slow inventory gains towards the end of the year. 
  • For the most part, the market should keep moving further towards a balanced market; but it will
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Wondering what Calgary’s new home activity looks like? Well, at the time of CREB’s release of the annual Calgary Economic & Housing Outlook report, here’s an at-a-glance look new home inventory and under construction inventory by district: 

North West Calgary 

  • Detached New Home Inventory: 9
  • Detached Under Construction Inventory: 59
  • Apartment New Home Inventory: 11
  • Apartment Under Construction Inventory: 852

North Calgary 

  • Detached New Home Inventory: 149
  • Detached Under Construction Inventory: 322
  • Apartment New Home Inventory: 142
  • Apartment Under Construction Inventory: 292

North East Calgary

  • Detached New Home Inventory: 72
  • Detached Under Construction Inventory: 238
  • Apartment New
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More stringent mortgage policies and higher interest rates appear to be paying off for Canadian households. As recently noted by the Calgary Herald, The Bank of Canada has already hiked the interest rate five times since summer of 2017 and says it’s making a difference. 

According to bank officials, Canadians are in turn making adjustments to their spending habits, ultimately limiting the negative impact stricter lending guidelines are having on the housing industry. While still high, officials says household vulnerabilities are going down and credit growth is continuing to moderate.

New, high-leverage insured loans went from 20-percent in late 2016 to six-percent in the second quarter of 2018. Those are loans that are well more than quadruple a

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Alberta condominium boards will need to act under new guidelines that will reportedly go into effect on July 1, 2019, according to a recent announcement made by Minister of Service Alberta Brian Malkinson. 

The regulation changes made to the province’s Condominium Property Regulation are designed to enhance transparency and further protect condominium owners, which for many is a major step in the right direction towards professionalizing and legitimizing condo boards throughout Alberta. 

In short, major changes include how condo corporations can issue bylaw fines, how a condo owner’s investment is protected, and also how reserve funds are managed. In addition, boards must also issue Minutes in writing to all condo owners, as well as provide agendas

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COCO CalgaryThere’s plenty to love when it comes to the new COCO by Sarina condos, but we’ve narrowed it down to just a few good reasons. These brand new Calgary condos offer up the appeal of new construction, impressive features and a highly desirable location.

The kitchens of COCO offer up plenty of appeal to buyers. The open concept space is designed for more flexibility in your lifestyle. Complimented by a large master suite, the condos additionally come in one-, two- and three-bedroom configurations, with floor plans to fit your needs.

The convenient South Calgary location is also a real treat for new buyers. Set in Marda Loop, the walk-able area makes is easy to visit trendy restaurants and shops in this part of the city. Heated garage parking is

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Interest is ramping up for new buyers considering making a home or an investment in the Zen Urban District. Already more than half sold; the master-planned community brings with it the appeal of a more urban lifestyle to the suburbs.

It's Affordable

One of the biggest reasons to consider Zen Urban District is its affordability. The district offers prices starting at around $170,000 for a flat, or buyers may choose from a two-storey townhome with a rooftop patio.

Surrounding Development is Booming

The area is also flourishing right now. New bars, restaurants and a YMCA are all planned for the area, along with the convenience of a light rail station. The walkability of the district will make it easy to reach everything you want and need.

The

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West Hillhurst CalgaryIf you’re looking for a great community in northwest Calgary, you’re sure to love what you find in West Hillhurst. The neighbourhood is known not only for its location but also for its appealing home designs.

New Construction is Still An Option

The neighbourhood offers plenty of new construction homes, allowing for more modern home selections in an exceptional setting. With open floor plans and a generous amount of desirable living space, you’ll find it all with the homes of this area.

You'll Be Close to Downtown 

The homes of West Hillhurst also offer the advantage of bordering the Bow River, while at the same time remaining in close proximity to Downtown Calgary. This makes it easy reach what you want, from the various shops and restaurants

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New Construction Homes in Calgary Looking to buy a new Calgary home or condo in 2019 but don't know where to start your search? Take a closer look at just a few new construction communities in town that may just be the perfect fit.

Symons Gate

One of the newest additions to Northwest Calgary, Symons Gate provides options including your choice of a townhouse, duplex or a single-family home. This offers plenty of variety for new buyers, all within a prime, new construction community.

Ridge at Sage Meadows

Also in Northwest Calgary, Ridge at Sage Meadows delights new buyers with the peacefulness of sitting close to a nature reserve. This boutique community also provides the option of available lots or some immediate move-in ready home designs.

Mahogany

Mahogany, meanwhile,

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