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April 2019

Found 4 blog entries for April 2019.

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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Calgary Home Prices DecliningHome prices are continuing to drop throughout Canada but according to new stats, even more so here in Calgary. Recently released numbers from the Calgary Real Estate Board (CREB) revealed that the median selling price for a detached home so far in 2019 landed at $456,374, which represents a 7.3% decline, or more than $36,000, compared to last year at this time. 

It’s also mentioned that detached homes isn’t the only housing category where year-to-date prices have dropped. 

In fact, attached homes are 2.4% lower so far in 2019, and apartment-style condo prices have also dropped by around 6.1% compared with the first 10 weeks of last year. 

Despite falling prices, sales have also been slow to kick-off the year. So far, just 2,252 homes have traded,

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