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Calgary Home Boys Real Estate Blog

Calgary Housing Market 2019Despite sales activity dropping a bit year-over-year, the Calgary Real Estate Board’s latest figures do show some positive signs. According to the most recent states, new listings have dropping by almost 19%, which could suggest oversupply balancing out heading into the rest of 2019 and beyond. 

A housing market recovery is also being driven by homes under $500,000, a segment of the market where demand is stronger and supply has steadily been on decline as more younger home buyers enter the marketplace. 

Even with a higher number of potential buyers looking to make the transition from renting to owning, yea-over-year home sales are still down 6% so far in 2019. 

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Selling a Home in the SummerIf you’re thinking about putting your home on the market, the summer season is a great time to sell in Canada.

Buyer Demand 

To begin with, buyer demand is typically up starting in the spring and going through the summer. It’s an easier time for families to move, and home sales typically peak this time of year, as more people are out looking for a new home. 

Best Prices

Because of this, it may be more likely that you get the price you want for your home in the summer. Serious buyers are out this time of year and are often ready to buy and move in quickly, meaning you may be more likely to get the price you want for your home.

Better Weather 

Finally, a third reason to sell right now is directly connected to the weather. It can be to your

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Home Buying in the SummerIf you’re looking to buy a home in Calgary, the summer season is a great time to begin your search.

Motivated Seller

To start with, sellers with homes on the market right now may be more motivated, especially if they are also trying to move their families to a new home before the school year starts. 

Strong Inventory 

Another great reason to buy right now is the overall housing supply in Calgary. As long as residential inventory stays high, it means more opportunity for buyers looking for a new home in the Calgary area, and possibly some better deals for buyers.

Perfect Weather

Finally, the third great reason to buy right now is that the weather makes it possible to get out and enjoy the surrounding area. You’ll often be able to see what

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Live Work Condos CalgaryIf you're looking for a live/work condo or loft in Calgary, we have a few places in mind that may be a great place to begin your search.  

The Champagne

Set right along the Bow River, The Champagne offers an exceptional option for live/work space in Calgary. The newer construction condo building is part of Quarry Park, a large mixed-use development that allows people to live, work and play in one convenient area. Along with a mix of floor plans to choose from in The Champagne, its surrounding neighborhood is ideal for walking and biking everywhere you want to go. 

The Olive at 1029 1 AV NE, Calgary

Options exist for multi-level living and working conditions within The Olive. Some of the condos offer the advantage of ground level office or

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Calgary Condo Market If there’s one segment of the Calgary real estate market that is showing strong signs of sustainability in the coming weeks and months, statistics are pointing towards affordable apartment-style condos. 

It’s no secret that Calgary’s housing market has struggled since the oil price downturn that started in 2014. But according to the most recent Housing Market Assessment from Canada Mortgage and Housing Corp., inventory levels, while still elevated, are beginning to balance out, especially for affordable multi-family homes. 

As of the beginning of the month, nearly 2,000 new single-family, apartment, row house, and semi-attached units were on the market in Calgary, and that’s with about 7,000 re-sale properties also on the market at that same time. 

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April’s housing stats are in from the Calgary Real Estate Board so we thought we’d provide a quick rundown. Below are a number of bullet points we thought were the most relevant: 

  • Detached home sales reached 930 and improved nearly 3 percent in April. 
  • Overall detached home sales are still down 5 percent year-to-date. 
  • Detached home sales increased in North East Calgary, North West Calgary, South Calgary, and South East Calgary. 
  • Inventory remains unchanged and still sits at four months.
  • Apartment-style condo sales have reached 714, which is actually the lowest level we’ve seen to this point in a year since 2001. 
  • Despite sales being down compared to other years, inventory has fallen to 1,546 re-sale
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First Time Home BuyersThe government unveiled a new incentive program as part of the new budget that should provide some relief to young home buyers looking to make the transition from renting to owning. 

With economic conditions struggling and purchasing a home becoming increasingly more difficult for first-time home buyers, the real estate industry has been advocating for government assistance, and some even suggesting the need for relaxing the mortgage stress test, which requires borrowers to prove they can afford payments on a mortgage with interest rates 2 percentage points higher than the current Bank of Canada Rate. 

According to reports, the $1.25 billion incentive program provides prospective buyers who have the minimum down payment for a home and also have a

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Calgary Home Prices As you might’ve already heard, home prices in Calgary have been dropping—a trend that’s become all too familiar. But just how does Calgary’s home price data compare to other Canadian cities?

According to data from the Teranet–National Bank National Composite House Price Index, Calgary’s home prices saw the most rapid decline back in February in terms of year-over-year prices, and it was also the eighth consecutive month in which there wasn’t at least a small increase. 

Of all 11 metro areas the report tracked, nearly every city also saw a month-to-month decline, but just Calgary, Edmonton, and Vancouver registered a year-over-year drop in housing prices. 

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Luxury Home Sales CalgaryAccording to a new report summarized by the Calgary Herald, luxury home sales in Calgary have increased year-over-year, suggesting that the city’s luxury home market overall is stabilizing. 

At the close of January of this year, luxury home sales spiked 10.3% year-over-year compared to the previous year, and the median home price also jumped 3.2% to $2,012,676. 

The upward trend is certainly encouraging for a number of reasons but especially significant given the high-end home market originally started to tumble all the way back in 2015 with the downturn of global oil prices. 

It’s worth noting, however, that the luxury market still hasn’t recovered to pre-recession levels, even with this latest surge.

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An ambitious and rather large-scale residential development is being proposed for a site that sits at a highly visible corner of the Beltline between the Elbow River and Macleod Trail. 

If approved, the project will feature three separate towers, including a mega 55-storey high-rise that would include residential units, retail and restaurant space on the ground level, above-grade parking, and a huge rooftop deck with a running track and dog park. 

Once built, the new tower would easily be the tallest residential tower in Calgary, and the first to leverage new provincial rules that grant developers additional density in exchange for more affordable housing units. 

The developer of the project is Cidex and the first phase of the project is

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