Simon and I had talked about looking for a smaller home for about 2 years after our 6 bed, 4 bath home became too large for our needs. After a very spontaneous house viewing in Aug 2018, we found our new home and moved in within 2 weeks. Reality of selling our existing home kicked in and everything was fast and furious to list before the fall market. As soon as we listed $30K below our competitors, crazy price drops and under cuts followed and we felt the challenging, forever changing Calgary buyers’ market. By November 2018, we were extremely confused, very emotional and we decided to take the house off the market. We felt that renting was our only option, even though we both did not want to be landlords, and we set off down that path.


The same day that we arranged our 1st rental showing, Steven’s flyer landed in our mail box. I said to Simon that I was going to reach out to him that night and boy was I glad that I did! Instantly I knew he was the guy for us; professional, knowledgeable, passionate about his job, understanding, respectful, honest and the humor!

I asked to set up a face to face meeting but he wouldn’t until I read his testimonials. I didn’t take this seriously at first as I had already made up my mind, and after all, I was a potential new client, however, he was adamant that he wouldn’t meet up until we both did - we were very pleased to see that my initial gut feelings were expressed by so many other happy families. Our 1st face to face meeting confirmed that Steven was the guy to take the huge emotional pressure off our shoulders but the reality of ‘hitting the right listing price’ was a shock to the system for sure.  Regardless of this, his positive knowledge of the real estate market, professional marketing strategy and the unique virtual staging abilities called to us. We trusted Steven to sell our home and we set off on our journey with him.

What was noticeable to me was Steven’s passion to protect us and ensure that all legal aspects were in place initially. It was very comforting to know that we wouldn’t get to the finish line and face last minute issues. The regular marketing updates, strong communication, and the viewings started flowing, even got one on Dec 24th! I admit I had a dream that we would be like so many of his other clients and received a C/S in a few days but even though that didn’t happen, we did receive 2 offers on the same day which felt amazing and we got to see Stevens negotiations skills put to the test.

I am a believer of fate. Our home was sold by Steven as promised and he never gave up on us for which we are truly grateful. He is an exemplary professional and we have no hesitation in recommending his services. I have told Steven that I do not think I will ever move homes again, but if Steven is still around for when my girls buy their first properties, I will know which number to call for sure.


                                                                  - Thank you Heather & Simon D

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According to a report released today by Sotheby’s International Realty Canada (sothebysrealty.ca), Eastern Canada’s major metropolitan areas led the nation in top-tier real estate performance in 2018, as Western Canadian markets buckled under pressure from local stressors ranging from taxation and regulatory interventions in Vancouver, to strained economic conditions in Calgary. Buoyed by population gains and steady economies, sales over $1 million in the Greater Toronto Area (GTA) strengthened over the course of 2018, while Montreal’s luxury real estate market posted new records. Vancouver and Calgary’s top-tier real estate markets retreated further into buyers’ market territory, as excess supply overtook consumer demand. Across the country, markets continued to face headwinds of rising interest rates and tightened mortgage guidelines.

Despite transient market disruptions in the months following the April 2017 implementation of the Ontario Fair Housing Plan, and again in the first quarter of 2018 with the introduction of tighter mortgage lending rules, the GTA’s top-tier real estate market posted modest gains by the end of 2018. Market progress is not reflected in year-over-year comparisons of 2018 and 2017 sales figures, which incorporate contrasts between uncharacteristically soft sales in the first quarter of 2018, and record-setting performance in the first quarter of 2017. Instead, recent trends are better reflected in the market trajectory of the last half of 2018.

Annual GTA residential real estate sales over $1 million (condominiums, attached and single family homes) reflected a 31% decline from 2017 levels in 2018, while sales over $4 million decreased 40%. 2018 sales over $1 million in the City of Toronto reflected a 19% contraction from 2017, as sales over $4 million fell 39%.

However, GTA top-tier performance gained traction in the latter half of 2018. $1 million-plus sales in the last half of 2018 increased 4% from the same period in 2017, though sales over $4 million were down 20%. In the City of Toronto, $1 million-plus and $4 million-plus sales in the last half of 2018 saw a 5% increase and a 10% decrease respectively. Overall, 21% of GTA real estate sold over $1 million in the last half of 2018 did so at above list price, while a significant 35% did so in the City of Toronto.

The City of Montreal’s top-tier real estate market continued its multi-year upswing and surpassed sales records set in 2017, but reflected plateauing momentum. 2018 residential real estate sales over $1 million increased 20% over year-over-year. $4 million-plus luxury sales pulled back slightly from record 12 properties sold in 2017, to 11 units sold over $4 million in 2018. In a city that boasted population gains as well as Canada’s fastest growing metropolitan economy, top-tier real estate activity continued to be driven by local housing demand.

In the City of Vancouver, a barrage of government and regulatory interventions compounded by gradual mortgage rate hikes took their toll on top-tier real estate sales. While $1 million-plus residential real estate sales had previously contracted a nominal 5% in 2017 from 2016 levels, activity fell sharply across all residential housing types in 2018. Overall, $1 million-plus residential real estate sales decreased 26% in 2018 from 2017, while luxury sales over $4 million fell 49% year-over-year. Slowing momentum was reflected in deeper year-over-year declines in the latter half of 2018, when sales over $1 million and over $4 million dropped 36% and 51% respectively. A climate of uncertainty thwarted the absorption of rising top-tier housing supply as homebuyers withdrew from the market in hopes of a deeper correction, while demotivated sellers hesitated to price listings appropriately for market conditions.

Calgary’s uneven economic recovery stalled in the last quarter of the year as crude oil prices fell to record lows, setting back incremental progress made in the city’s top-tier real estate market. While residential real estate sales over $1 million had recovered 11% in 2017 over 2016, $1 million-plus real estate sales fell 10% in 2018 from 2017 levels.

“Canada’s top-tier real estate market performance was dominated by Eastern Canada’s two largest metropolitan areas in 2017. Toronto’s top-tier real estate market emerged as a bastion of resilience, due in large part to the region’s stable economy and rapidly expanding population. Consumer psychology bounced back from temporary setbacks brought on by policy changes, rising rates and tighter lending guidelines,” says Brad Henderson, President & CEO, Sotheby’s International Realty Canada. “Montreal’s record-setting momentum continued in 2018, but there are clear indications that the market is now settling in at healthy levels.”

According to Henderson, both the Vancouver and Calgary top-tier real estate markets remain vulnerable to further declines as inventory builds, albeit for different reasons. However, there are signals that prospective buyers and sellers who remained on the sidelines in 2018 are prepared to re-engage in market activity in the coming months.


 VANCOUVER

A battery of policy interventions, as well as incremental mortgage rate hikes took their toll on consumer activity in the City of Vancouver’s top-tier real estate market in 2018. While 2017 $1 million-plus home sales had contracted a nominal 5% from 2016 levels, top-tier sales fell sharply across all housing types in 2018. Overall, $1 million-plus residential real estate sales in Vancouver (condominiums, attached and single family homes) decreased 26% to 3,151 units sold in 2018. The $4 million-plus luxury market experienced the most significant downturn, with sales falling 49% from 2017 to 195 units sold in 2018. Sales activity in the latter half of 2018 experienced deeper year-over-year decline: sales over $1 million and sales over $4 million contracted 36% and 51% respectively.

Vancouver’s top-tier single family home market registered its third consecutive year of declining sales activity. Following a 16% reduction in single family home sales over $1 million in 2016 from 2015 levels, and another 20% decrease in sales in 2017 from 2016, $1 million-plus sales fell 35% to 1,505 homes sold in 2018. The most significant adjustment was seen in the market for luxury single family homes over $4 million: 152 homes sold over $4 million in 2018, a 55% year-over-year decrease.

The city’s top-tier condominium and attached home markets, which had remained robust in 2016 and 2017, succumbed to market stressors as 2018 progressed. While the top-tier condo market continued to outperform the attached and single family home markets, condo sales over $1 million decelerated 14% to 1,107 units sold in 2018. Luxury condo sales over $4 million held ground in 2018, with a 3% increase to 39 units sold in 2018. The city’s chronic shortfall of top-tier attached home supply limited sales volume in 2018, despite consumer demand. Sales of $1 million-plus attached homes decreased 22% from 2017 to 539 homes sold in 2018, while luxury attached home sales over $4 million fell from eight units sold in 2017 to four units sold in 2018.

While local demand for conventional and luxury housing is being supported by a population growth rate that exceeds the national average, a build-up of $1 million-plus real estate supply is expected to place downward pressure on top-tier Vancouver real estate prices into the preliminary months of 2019.


CALGARY

Sales activity and housing prices in the City of Calgary’s top-tier real estate market trended downward throughout 2018, as consumer confidence faltered with the province’s uneven economic recovery. Although Alberta’s economy expanded in line with provincial budget targets through the first three quarters of the year, conditions deteriorated in the fourth quarter as Alberta crude oil prices plummeted to record lows.

Within Calgary, an above-national average unemployment rate of 7.9%, ongoing job insecurity, and rising barriers to home ownership brought on by stricter mortgage regulations and rising interest rates weighed on conventional and luxury market performance. Overall, Calgary’s $1 million-plus residential real estate sales fell 10% to 611 homes (condominiums, attached and single family homes) sold in 2018, compared to 677 units sold in 2017. Top-tier inventory increased as homeowners sought to exit the market in face of soft consumer demand.

Challenging 2018 market conditions set back progress made in 2017, when overall residential real estate sales over $1 million rose 11% over 2016. $1 million-plus single family homes saw a 9% decline in sales volume to 539 homes sold in 2018, while attached home sales over $1 million fell 39% to 43 homes sold. Calgary’s top-tier condominium market saw more unit sales in 2018 as motivated sellers exited the market, but remained significantly oversupplied. 29 $1 million-plus condos sold in Calgary in 2018, up 142% from the 12 units sold in 2017.

As Calgary enters its third year of economic recovery in 2019, weaker oil prices, persistent access issues to global oil markets, and downgraded forecasts for investments, exports and GDP are contributing to a somber outlook. The city’s conventional and luxury real estate markets continue to favour buyers in the year ahead.


GREATER TORONTO AREA

The ascent of the GTA (Durham, Halton, Peel, Toronto and York) top-tier real estate market was dramatic and unprecedented in the three years leading up to 2018. $1 million-plus residential real estate sales (condominiums, attached and single family homes) surged 48% in 2015 over 2014, 77% in 2016 over 2015, then crested at historic highs with an additional uptick of 5% from 2016 to 2017.

2018 year-over-year sales volume comparisons misrepresent actual market performance given the inclusion of first quarter figures. The year’s top-tier market trends are better reflected in results from the latter half of 2018. While annual GTA residential real estate sales over $1 million (condominiums, attached and single family homes) were down 31% from 2017 levels to 14,255 properties sold in 2018, $1 million-plus sales in the last half of the year increased 4% compared to the last half of 2017. Consumer confidence and activity in the City of Toronto’s top-tier market resurged more quickly. 6,562 properties (condominiums, attached and single family homes) sold over $1 million in the City of Toronto in 2018, a decline of 19% from the previous year; however, $1 million-plus sales in the last half of 2018 experienced a 5% year-over-year gain in sales volume.

GTA top-tier condominium sales in the second half of 2018 reflected a strengthening market. 1,259 units sold over $1 million in 2018 compared to 1,296 units sold in 2017, a mild 3% decline. Between July 1 and December 31, 2018, GTA condominium sales over $1 million increased 12% year-over-year to 601 units sold, while eight units sold over $4 million compared to six units sold the year prior. Overall, 24% of GTA condos sold over $1 million and 13% of condos sold over $4 million did so above list price in the last half of 2018. During this time, sales of condominiums over $1 million in the City of Toronto were up 11% to 530 units sold, while luxury condo sales over $4 million were up 60% year-over-year to eight units sold.

The attached home market remained one of the most active top-tier segments in the GTA. While annual sales over $1 million decreased 26% year-over-year to 1,513 units sold, in the last half of 2018, overwhelming demand resulted in rapid sales velocity and a significant 54% of $1 million-plus attached homes and 25% of $4 million-plus luxury attached homes selling above list price. Within the City of Toronto, strong demand resulted in 61% of $1 million-plus and 25% of $4 million-plus luxury attached homes selling above list price. GTA sales of attached homes over $1 million between July 1 and December 31, 2018 increased 8% to 707 units sold, while luxury attached home sales over $4 million doubled to four sold in the last half of 2018. During this time, $1 million-plus attached home sales in the City of Toronto saw a 10% increase to 614 units sold, and luxury $4 million-plus sales increased from three homes sold in 2017 to four sold in 2018.

The GTA top-tier single family home market steadily regained momentum in 2018. Annual single family home sales over $1 million decreased 34% to 11,483 units sold in 2018, but between July 1 and December 31, 2018, $1 million-plus single family home sales stabilized with a 2% year-over-year gain. Furthermore, 17% of homes sold over $1 million in the last half of 2018 did so above list price. During this time, luxury home sales over $4 million were down a more significant 24% in the last half of the year to 95 units sold, due in part to a shortage of supply in prime neighbourhoods. In the last half of 2018, single family sales over $1 million in the City of Toronto increased 2% from the last half of 2017, with a significant 28% of homes selling above asking price. Luxury single family home sales over $4 million however, were down a more notable 16% in the last half of 2018 compared to the same months in the year previous, with 6% of homes selling above list price.

While demand for limited top-tier inventory sparked multiple offer scenarios, subject-free deals and sales above list price in prime neighbourhoods within the City of Toronto, the heated bidding wars endemic in past years calmed. In 2018, as the GTA market balanced, fatigued buyers were more likely to withdraw from overpriced listings or unnecessary competition.

MONTREAL

Montreal boasted the fastest growing metropolitan economy in 2018, with a growth rate of 2.9%. Job creation, income growth and population gains bolstered demand across the conventional and high-end real estate market, while investment in public infrastructure and urban development projects increased real estate values in key communities across the region. As a result, while the city firmed its position as a global luxury real estate destination in 2018, top-tier sales in Montreal remained predominantly driven by local residents in search of housing rather than investor, speculator or foreign demand.

The City of Montreal’s top-tier real estate market continued its upswing in 2018, shattering records previously set in 2017. Overall residential real estate sales over $1 million (condominiums, attached and single family homes) increased 20% year-over-year to 883 units sold in 2018, compared to the previous record of 734 units sold in 2017. In contrast to 2017, when $4 million-plus luxury sales increased 33% year-over-year to 12 properties sold, $4 million-plus sales held steady at eleven units in 2018.

After a 49% year-over-year surge in $1 million-plus condominium sales set a new record in 2017, Montreal’s top-tier condominium market achieved new highs in 2018 with an additional 29% year-over-year gain to 157 units sold. The city’s top-tier attached home segment experienced a significant surge in consumer demand in 2018, as sales over $1 million increased 40% over 2017 levels to 290 properties sold. Following moderate year-over-year sales gains of 21% in 2017 over 2016, Montreal’s top-tier single family home market calmed to healthy levels in 2018 as sales over $1 million increased 8% from 2017 to 436 homes sold.

Although Montreal’s prolonged run-up in top-tier real estate demand has moderated, the city’s robust economic fundamentals and growing population are expected to foster active, healthy market conditions well into 2019.


Disclaimer

The information contained in this report references market data from MLS boards across Canada. Sotheby’s International Realty Canada cautions that MLS market data can be useful in establishing trends over time, but does not indicate actual prices in widely divergent neighborhoods or account for price differentials within local markets. This report is published for general information only and not to be relied upon in any way. Although high standards have been used in the preparation of the information and analysis presented in this report, no responsibility or liability whatsoever can be accepted by Sotheby’s International Realty Canada or Sotheby’s International Realty Affiliates for any loss or damage resultant from any use of, reliance on, or reference to the contents of this document.

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This stunning Bearspaw Calgary Acreage Sold In 64 Days!!!  I am delighted to report that this sale broke a record in the area!  Congratulations to my client for trusting me with great marketing strategies so sell his home quickly.
 
Whether the transaction is in the entry-level price range, or in the ultra-luxury market, Steven Hill with Sotheby’s International Realty Canada will deliver a complete package of purchasing or sale expertise for your family’s entire real estate portfolio.
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Don't Blink!

The seller needed an honest, candid listing consultation. 

We put together a strategy that maximized everything we could; area, heritage, zoning.


An offer arrived on Day 9!

C/S in 13 Days and now SOLD!


In this market, you MUST choose wisely who represents you and the strategies you set in place.

Very happy to have been chosen to represent a real estate property in Bragg Creek.  With our family's outdoor wilderness passion and our love for Bragg Creek, Alberta, this sale hit all of us in the heart.


82 White Avenue in Bragg Creek sold by Sotheby's Associate Broker Steven Hill

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Welcome to 82 White Avenue, Bragg Creek


As the saying goes, "If you are lucky enough to have a place in the woods, you are lucky enough"


This is so very true for the hamlet of Bragg Creek.  Such an absolute favorite spot for my family and myself to recharge, we visit weekly.


To represent this gem of a property is an absolute delight.  Bordered on 2 sides by a municipal reserve, this .8 acre lot blends the ideal accessibility to all the renowned trails, outdoor life & boutique shops, with the beauty and rustic charm of a log home. Enjoy!


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Calgary Lake Bonaventure Luxury Home Sold By Calgary Realtor Steven Hill

1063 Lake Placid Drive

 

1063 Lake Placid Drive Calgary is now SOLD! 


Very pleased to have crossed the finish line for my sellers on this tremendously unique, trophy property!



This amazing lakeside luxury estate offered some of the rarest and most desirable real estate in the city. Facing Fish Creek Park and perched on one of the most sought after lakes anywhere. Presented in original condition with a total of 9372 total developed square feet, this home will surely be a trophy project and statement home for the lucky new owners. 


Sincere Congratulations to my clients, this was a truly extraordinary home to represent.


Steven Hill

Associate Broker

Sotheby's International Realty Canada

shill@sothebysrealty.ca

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THIS IS SO AWESOME!!!

Sotheby's International Realty Canada is teaming up with Liquidity Winery to send one lucky winner to British Columbia’s beautiful Okanagan Valley.


The Prize Package Includes


     -  $1000 Air Canada Gift Card
     - Two-Night Stay in the Executive Luxury Suite at Liquidity Winery...
     - Wine Tasting for 2 at Liquidity Winery
     - Dinner for 2 at Liquidity Winery.



Enter to win at:

sothebysrealty.ca/artofwine Good luck!

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Augmented Reality virtual staging - actual photos taken from my phone using the industry-first, ground breaking Curate app brought to you by Sotheby’s International Realty.
Really, really, really cool!
 
I tested it in the hallway entrance of Calgary's Sotheby's International Realty Canada and the results are amazing!
 
Which design do you like the best?
 
Augmented Reality virtual staging - actual photos taken from my phone using the industry-first, ground breaking Curate app brought to you by Sotheby’s International Realty.
Really, really, really cool!
@canada_sir @sothebysrealty #luxurycalgaryrealtor #virtualstagingonyourphone #associatebroker #stevenhillsothebys #stevenhillsirc #sircyyc
 
 
Augmented Reality virtual staging - actual photos taken from my phone using the industry-first, ground breaking Curate app brought to you by Sotheby’s International Realty.
Really, really, really cool!
@canada_sir @sothebysrealty #luxurycalgaryrealtor #virtualstagingonyourphone #associatebroker #stevenhillsothebys #stevenhillsirc #sircyyc
 
Augmented Reality virtual staging - actual photos taken from my phone using the industry-first, ground breaking Curate app brought to you by Sotheby’s International Realty.
Really, really, really cool!
@canada_sir @sothebysrealty #luxurycalgaryrealtor #virtualstagingonyourphone #associatebroker #stevenhillsothebys #stevenhillsirc #sircyyc
 
Augmented Reality virtual staging - actual photos taken from my phone using the industry-first, ground breaking Curate app brought to you by Sotheby’s International Realty.
Really, really, really cool!
@canada_sir @sothebysrealty #luxurycalgaryrealtor #virtualstagingonyourphone #associatebroker #stevenhillsothebys #stevenhillsirc #sircyyc
 
 



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It is with great pleausre to announce that this Calgary Tuscany Home at 153 Tuscany Hills Point is now sold.  Congratulations to the new buyers and to my seller.  This is a great home in a wonderful Calgary community.


Cheers,

Steven Hill

Associate Broker

Sotheby's International Realty Canada Calgary

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A new report released today by Sotheby’s International Realty Canada reveals the impact of rising interest rates, stricter mortgage lending guidelines, and recent housing policies and taxes on the country’s major metropolitan top-tier real estate markets during the first half of 2018. While the $1 million-plus Greater Toronto Area (GTA) market remained resilient and the Montreal market flourished, Vancouver and Calgary underwent severe adjustments.


In the Greater Toronto Area (Durham, Halton, Peel, Toronto and York), market confidence and top-tier sales activity renewed in the first half of 2018 as consumer psychology recovered from the April 2017 introduction of the Ontario Fair Housing Plan, particularly within the City of Toronto. Given unprecedented gains in the region’s $1 million-plus sales volume from 2015 to 2017, with surges of 56% in 2015 over 2014, 65% in 2016 over 2015, and 41% in the first half of 2017 over the first half of 2016, year-over-year comparisons of 2018 to 2017 sales activity mask the region’s market resilience. On the surface, $1 million-plus residential real estate sales fell 46% year-over-year in the first half of 2018, while sales over $4 million fell 51%. However, 2018 sales volume trended in line with 2015’s pre-surge levels: GTA $1 million-plus real estate sales in the first half of 2018 increased 25% from the number of units sold in the first half of 2015, while sales over $4 million were up 72%.

Following the Government of B.C.’s February 2018 implementation of a 30-point plan for housing affordability atop governmental policies and taxes implemented since 2016 to overcome the region’s affordability challenges, the City of Vancouver’s $1 million-plus single family home market saw a significant pullback in activity while the condominium and attached home markets remained resilient. Overall residential real estate sales over $1 million decreased 19% and $4 million-plus sales decreased 47% as consumer confidence and market engagement waned. While the top-tier condominium sector experienced 9% year-over-year gains, a dramatic slowdown took place in the single family home market, which entrenched into buyers’ territory as sales over $1 million and $4 million fell 36% and 55% respectively.

The City of Calgary’s top-tier market regressed in the first six months of 2018. Rising interest rates and the introduction of stricter federal mortgage rules that constrained the borrowing capacity of homebuyers had a disproportionate impact within a city still recovering from a severe economic downturn, setting back incremental gains made in 2017. Overall sales of $1 million-plus real estate decreased 11% year-over-year in the first six months of 2018, as rising supply and slowing absorption rates placed downward pressure on pricing.

Following 20% gains in $1 million-plus sales volume in 2017, the City of Montreal was the only major Canadian city to see year-over-year growth in sales over $1 million in the first half of 2018 with a 24% increase to hit new records. However, there were hints that this momentum will level off in the latter half of 2018.

“The collision of rising mortgage rates, stricter lending guidelines and cascading governmental policies and taxes have impacted the performance of several top-tier Canadian markets,” says Brad Henderson, President and CEO of Sotheby’s International Realty Canada.  “While the Toronto top-tier market remained remarkably resilient in the first half of 2018, and Montreal continued to exude growth and confidence, the Vancouver and Calgary markets decelerated as consumer optimism and local purchasing power diminished.”

According to Henderson, erosion of homebuyers’ purchasing power, particularly in the market for real estate below the $2 million threshold, has rechanneled an additional cohort into the top-tier condominium and attached home markets in Toronto and Vancouver, elevating demand and sustaining price gains.

Canadian top-tier real estate market highlights included:

 VANCOUVER

Following a 5% year-over-year contraction in top-tier real estate market activity in 2017 compared to 2016, $1 million-plus residential real estate sales (condominiums, attached homes, and single family homes) in the City of Vancouver slackened in the first six months of 2018.

  • Sales over $1 million decreased 19% year-over-year to 1,939 units in the first six months of the year, while $4 million-plus sales decreased 47% to 111 units.
  • While the city’s condominium market remained robust, Vancouver’s $1 million-plus detached home market saw a significant reduction in activity, a result of buyer uncertainty, wavering supply, and the consequences of governmental measures implemented since 2016 to curtail escalating prices.
  • New federal mortgage lending rules that limited borrowing capacity further eroded the accessibility of the conventional real estate market and the single family home market in particular, and cast shadows on consumer confidence.
  • As a result, $1 million-plus single family home sales decreased 36% to 885 homes sold in the first six months of 2018, compared to the same period in 2017. Luxury sales over $4 million decreased 55% year-over-year to 86 units.
  • Demand was redirected into the already heated $1 million- plus condominium and attached home markets.  In the first half of 2018, $1 million-plus condo sales increased 9% to 708 homes sold compared to the same period last year.
  • The $4 million-plus segment exhibited year-over-year gains of 35% to 23 units sold.
  • Lack of attached home supply and constrained purchasing power amongst buyers resulted in a 3% decline of attached home sales in the first six months of 2018 to 346 homes sold.
  • Minimal activity took place in the $4 million-plus market where two attached homes sold in the first six months of 2018, compared to three in the same time period last year.

 CALGARY

Calgary’s top-tier real estate market saw a regression in the first six months of 2018, following a glimmer of recovery experienced in 2017. The reversion was largely attributed to rising interest rates and the introduction of stricter federal mortgage rules that constrained borrowing capacity, which stalled progress in a city still recovering from a severe economic downturn.  With mounting supply and muted sales, downward price adjustments were common across the top-tier condo, attached, and single-family home markets.

  • Overall, $1 million-plus real estate sales (condominiums, attached homes, and single family homes) decreased 11% year-over-year to 350 units sold in the first half of 2018.
  • The $1 million-plus single family home market decreased 13%, with 304 homes sold in the first half of 2018, while attached home sales over $1 million dipped 24% year-over-year to 29 units sold.
  • In face of rising inventory and softening consumer demand, Calgary’s $1 million-plus condominium market remained quiet in the first half of 2018; 17 properties sold compared to six sold in 2017 during the same time period.

 TORONTO

Top-tier real estate in the Greater Toronto Area (Durham, Halton, Peel, Toronto and York) reflected remarkable resilience in the first six months of 2018 as consumer confidence and market activity renewed following a lull after the April 2017 implementation of the Ontario Fair Housing Plan.

  • The resurgence was masked by comparisons to unprecedented gains in the GTA’s $1 million-plus real estate market from 2015 to 2017. $1 million-plus residential real estate sales (condominiums, attached and single family homes) increased 56% in 2015 over 2014, 65% in 2016 over 2015, then peaked 41% year-over-year at new records in the first half of 2017.
  • In contrast, during the first half of 2018, a total of 7,684 properties over $1 million sold in the GTA, a 46% year-over-year drop when compared to 2017’s historic highs, while luxury sales over $4 million declined 51% to 127 units sold.
  • In the City of Toronto, 3,526 properties sold over $1 million and 91 properties sold over $4 million during the first half of 2018, a decline of 32% and 52% respectively.
  • Despite declines relative to 2017, 2018 sales trended above 2015’s healthy market activity. GTA $1 million-plus real estate sales in the first half of 2018 increased 25% from the 6,152 units sold in the first half of 2015 while sales over $4 million were up 72%.
  • Compared to the same period of 2015, sales over $1 million in the City of Toronto were up 14% in the first half of 2018, while sales over $4 million were up 44%.
  • Compared to 2017’s historic highs, GTA $1 million-plus and $4 million-plus single family home sales decreased 49% and 52% year-over-year to 6,220 and 116 units respectively. Relative to strong, pre-peak $1 million-plus sales volume in the first half of 2015, GTA single family home sales over $1 million were up 13% while sales over $4 million were up 66%.
  • While $1 million-plus attached home sales volume fell 42% compared to 2017 levels, and $4 million-plus sales fell from three to two units sold, activity reflected limited inventory rather than soft demand. 57% of $1 million-plus attached homes sold above list price in the GTA after spending an average of 15 days on the market, the highest percentage of above-list sales and the shortest number of days on market for residential housing types in the $1 million-plus segment.
  • Similarly, while GTA condo sales over $1 million fell 13% in the first half of 2018 to 658 units and luxury condo sales over $4 million fell 40% to nine units, 31% of the sales took place above list price. Condo sales velocity stayed in line with the brisk pace experienced in the record-setting first half of 2017, at an average 25 days on the market.

 MONTREAL

Following market momentum in 2017 that drove $1 million-plus sales volume up 20% compared to 2016, top-tier sales in the City of Montreal continued at a strong tempo in the first half of 2018, hitting new records and outpacing gains in other major Canadian cities. The market has been driven by strong local demand, and has been undeterred by rising interest rates and new mortgage rules by Canada’s federal financial regulator. The city has also been sheltered from provincial and municipal cooling policies that have moderated sales in Toronto and Vancouver.

  • Overall $1 million-plus residential real estate sales (condominiums, attached and single family homes) in Montreal experienced a 24% year-over-year increase in the first half of 2018 compared to the year prior, totalling 460 sales. $1 million-plus condominiums led in year-over-year percentage gains of all property categories as sales jumped 25% year-over-year to 81 condominiums sold.
  • Multiple bidding wars sparked amongst purchasers, as a result, 14% of $1 million-plus condominiums sold above list price. Montreal’s top-tier attached market surged throughout the first half of 2018, with sales over $1 million increasing 58% year-over-year to 171 units.
  • The single family home market saw a 5% increase from the first half of 2017, with 208 units sold in 2018 compared to 199 units sold the same year prior.

Disclaimer

The information contained in this report references market data from MLS boards across Canada. Sotheby’s International Realty Canada cautions that MLS market data can be useful in establishing trends over time, but does not indicate actual prices in widely divergent neighborhoods or account for price differentials within local markets. This report is published for general information only and not to be relied upon in any way. Although high standards have been used in the preparation of the information and analysis presented in this report, no responsibility or liability whatsoever can be accepted by Sotheby’s International Realty Canada or Sotheby’s International Realty Affiliates for any loss or damage resultant from any use of, reliance on, or reference to the contents of this document

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EXCITED TO ANNOUNCE!!!


Coming Soon to the Calgary Real Estate Market is this very, very special Calgary Luxury Estate property.  Unbelievable location on Lake Bonaventure, massive size, impressive design and very well priced. 


Contact Me To Make Your Luxury Calgary Home The Next I Sell!



Steven Hill

Certified Luxury Home Marketing Specialist

403-863-6344

Associate Broker

Sotheby's International Realty Canada

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Very Honoured to be mentioned in the Globe and Mail Done Deals.

Representing this Strathcona home was awesome!


207 Strathearn Cres. SW, Calgary

Asking price: $480,000

Selling price: $480,000

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Taxes: $2,954 (2017)

Days on the market: Four

Listing agent: Steven Hill, Sotheby’s International Realty Canada



The action: During the first few months of 2018, agent Steven Hill moved properties quickly in some areas, such as Strathcona Park, where he sold this two-storey house on a 30-foot lot within a few days mid-February.

“Calgary’s market right now is really soft, but this was in a sought-after area and it was priced correctly,” Mr. Hill said.

“This price point for this home is rare for this community. Usually, the homes are $100,000 to $300,000 higher, so for a family to get into Strathcona Park below $500,000 is really attractive.”

What they got: Just a few doors away from a ravine and park system that winds around the low-rise Strathcona Park neighbourhood, this 37-year-old house has its own outdoor retreat with a private backyard, large back deck and double garage.


Inside, there is 1,300 square feet of living space, including a kitchen, living and dining rooms with hardwood floors, as well as three bedrooms and two bathrooms. The 511-square-foot basement has recreation and hobby rooms.

The agent’s take: “It was a lovely small home in a desirable neighbourhood,” Mr. Hill said. “It’s connected to ravines and pathways, and it’s in a great location to get to downtown.”


To Read the article online:  CLICK Here! 

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in Canada is a thing of beauty. Craggy ski resort towns emerge from the snow, covered in wildflowers. Once–storm-swept beaches invite swimming, surfing, and summer bonfires. And snug cabins in the woods open their windows to birdsong and warm breezes rifling the trees. From the sparkling lakes of cottage country to the idyllic islands off the B.C. coast, there are plenty of stunning summer vacation spots to consider in Canada.

And while we all love the usual summer hot spots, don’t be afraid to explore further afield this season: many of the top destinations have hidden treasures next door. Venture off the beaten track for a truly Canadian adventure at one of these six destinations.

If You Love Whistler, Try Pemberton

Located 30 minutes north of the world-renowned ski resort town of Whistler, B.C., Pemberton is an outdoors-lover’s paradise. Hike to Nairn Falls just south of Pemberton, or head 30 minutes east on Highway 99 to appreciate the stunning turquoise waters of Joffre Lakes. If relaxation is more what you have in mind, spend a day basking on the white sands of Pemberton Beach. Golfers will appreciate the challenging 18 hole course at Big Sky Golf Course, one of the top 20 golf courses in Canada. In the evening, drive down to Whistler to stroll through the pedestrian village and enjoy world-class dining at AraxiThe Rimrock Cafe, or Alta Bistro.

Plan your dream summer escape with these sunny Pemberton acreages. Or set up nearby in these mountain-adjacent Whistler chalets.

Instead of Banff, Explore Canmore

Just five minutes from the east gate of UNESCO World Heritage Site Banff National Park, let yourself be impressed by the incredible Rocky Mountain scenery of Canmore, Alberta. Spend an afternoon on the greens at the Les Furber–designed Silvertip Golf Course, or exploring the colourful shops of the town’s Main Street, surrounded by snow-capped peaks—then enjoy pan-seared Arctic char or a forest mushroom pizza and a glass of Pinot Gris at top-ranked Crazyweed Kitchen, known for its excellent wine selection. Adventurous travellers might hike the Grassi Lakes Trail past two glacier lakes, take in the scenery from a saddle on a horseback ride, or try their hand at whitewater rafting on the Kananaskis River.

Find your launchpad to adventure in these impressive Canmore homes.

If You’re Looking for Wine Country, Try Small-Town Okanagan Valley

While many head to Kelowna in the warmer months to experience the best of the B.C.’s Okanagan Valley, there are a variety of smaller towns with just as much recreational appeal. In scenic Penticton, float the 7km Penticton River Channel in an inner tube, and sup on Greek fare at Theo’s in a town whose name means “a place to stay forever”. Or trek to Keremeos, a quiet village tucked in the heart of the Similkameen River Valley known as the Fruit Stand Capital of Canada. Swim or fish in the pristine waters of the Similkameen River, taste local wines at the Corcelettes Estate Winery or Clos du Soleil Winery, or appreciate the scenery (and the working 1877 waterwheel-powered flour mill) at the Grist Mill and Gardens.

Whether you’re establishing your own winery or dropping by for the growing season, watch this page for Keremeos listings, and explore your Okanagan property options.

If You Love Cottage Country, Holiday in Haliburton

Welcome to cottage country. Thought Ontario’s Muskoka Lakes is the more famous summer destination, nearby Haliburton is a perfect spot to relax and unwind. Sometimes called the Haliburton Highlands (and host to an annual Highland Games), the area is spotted with scenic lakes and springs, and bordered by Algonquin Provincial Park to the north. For the culturally inclined, there is no shortage of activities here: visit the Haliburton Sculpture Forest or try your hand at glassblowing, blacksmithing, jewellery-making, pottery, and more at Haliburton School of Art + Design. If your idea of relaxing means staying out of the kitchen, skip the dishes and enjoy excellent German-inspired fare at Rhubarb.

Find your own Haliburton waterfront retreat, or retreat to Muskoka to find a lake to float away on.

Instead of the California Coast, Trek Vancouver Island

With a slightly wilder feel than its Californian cousin, B.C.’s Vancouver Island coastline offers seaside riches to suit all road-trippers and surfers. Scan the seas for migrant orcas on the two-hour ferry ride from the mainland to Nanaimo, then head to the west coast of the island to explore Tofino, a world-renowned surf spot also known for its excellent dining (we suggest Wolf in the FogTacofino, or The Pointe Restaurant). The island is home to innumerable excellent wineries and cideries, top-quality spas and golf, and plenty of gorgeous parks for hiking, kayaking, or just relaxing and enjoying the view. Vancouver Island offers travellers this side of the border a taste of the chill life.

Nestle into one of these stunning Vancouver Island homes, and take your pick of local summer activities.

Instead of Europe, Discover Québec City

If your summer plans don’t include a jaunt to the continent, don’t despair—there’s always Québec City. The capital of Québec and a historical treasure trove, Québec City offers many summer splendours: take a walk in the European-like streets of Old Québec, and visit the Old Port Market for seasonal foodstuffs and icewine. Rent a bike and pedal to the Chute-Montmorency, where a cable car will take you to the top of the falls for a beautiful vista. With a summer season full of buskers and festivals, and an epicurean scene that includes Chez Boulay‘s Nordic cuisine and traditional French-Canadian fare at Chez Muffy, Québec City is the perfect summer destination for holidayers looking to add a splash of the city to their getaway.

Find your summer pied-à-terre in the sky with these Québec City condos.



Whether you’re looking to avoid crowds or simply try something new this summer, these six Canadian destinations offer something special to the intrepid traveller. Discovering the best of the country’s hidden gems and warm-weather excursions will have you making plans to stay all year.

Dreaming of the perfect Canadian vacation home? Get inspired with homes in cottage country, and investigate country living.

Photo Credits: Galyna Andrushko / Shutterstock Inc., Jon Marc Lyttle / Shutterstock Inc., Chase Clausen / Shutterstock Inc., Mack Male / Flickr, Brian Lasenby / Shutterstock Inc., JmjCarter2 / Shutterstock Inc., mervas / Shutterstock Inc.

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Delighted for both the buyer and seller of this fantastic Calgary Copperfield home.  With the right marketing and strategies, this Calgary home sold in 10 Days on Market.   CONGRATS to everyone!
 
If you would like the same results or are interested in learning more, please contact Steven Hill directly at shill@sothebysrealty.ca
 
 
Steven Hill
Associate Broker
Sotheby's International Realty Canada | Calgary
direct: 403-863-6344
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