FEBRUARY HOUSING MARKET UPDATE
Lowest February inventory since 2006 Consistent with typical seasonal behavior sales, new listings and inventory levels all trended ...READ POST
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Lowest February inventory since 2006 Consistent with typical seasonal behavior sales, new listings and inventory levels all trended ...READ POST
Supply of lower-priced homes remains low for January The level of new listings in January fell to the lowest levels seen since the ...READ POST
Calgary housing market expected to stabilize in 2023 The Calgary Real Estate Board (CREB®) has released its 2023 Forecast Calgary and ...READ POST
On January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Foreign Buyers Ban”) came into ...READ POST
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Complete Condo Living at The Pavilions in Rocky Ridge! Featuring 2 Bedrooms, 2 Bathrooms, Titled underground Parking, Excellent Layout and With Indoor and Outdoor Fitness Amenities! See details here
Masterfully positioned to benefit the stunning unobstructed Rocky Mountains & rolling valley views, this executive 4 acre property offers a unique opportunity to own a tranquil and serene country home only minutes from Calgary & Cochrane. A gated, fully paved driveway leads to this remarkable home with over 5800 SqFt of developed living space featuring 6 bedrooms & 4.5 bathrooms. The tasteful architectural details like crown moulding and coffered ceiling, complement a layout featuring a fitness room, oversized 4 car garage, theatre space, wrap around veranda, chef's kitchen with spacious granite feature island, main floor office/den & sensational 18ft ceiling in the living room with full stone focal wall. This property offers something for every member of the family. Thoughtfully landscaped with full irrigation, there is plenty of room to enjoy both indoor & outdoor interests including a fully fenced tennis court. Offered to the market for the first time since originally built, this is a rare opportunity.
For More Information About This Amazing Property, Please Contact Steven Hill at 403-863-6344 or email at firstname.lastname@example.org
This wonderful Strathcona home offers an excellent layout, tasteful upgrades & is in pristine condition. The ceramic tile foyer transitions to hardwood in the bright living room, complimented by a beautiful bay window, dramatic vaulted ceiling, along with a tasteful open-railing hardwood staircase. The upgraded kitchen features gorgeous quartz counter top, full tile back splash, under mount cabinet lighting & thoughtful storage. The sunny breakfast nook functions perfectly with the family feel of this home. Blending off the kitchen space is a bright family room with fireplace & designer mantle, a 1/2 bath and mud room entryway.
What was the chance that a blizzard in April would be on the day we shoot professional photos?
Sotheby’s International Realty Canada is forecasting that Canada’s market for residential real estate over $1 million will be led by the Greater Toronto Area (GTA) in the spring of 2017, with sales volume, velocity and pricing of the $4 million luxury segment projected to surpass previous years’ record-breaking performance. Vancouver’s $1 million-plus real estate market is anticipated to normalize in the coming months, while cautious optimism returns in Calgary. Montreal’s market for real estate over $1 million is expected to continue its course of modest, healthy growth.
Data compiled by Sotheby’s International Realty Canada in the country’s four largest real estate markets foreshadow spring performance in 2017. The GTA experienced the greatest year-over-year gains in sales over $1 million (condominiums, attached and single family homes). In January and February 2017, sales volume increased 87% across the region, while sales in the city of Toronto rose 44%. During this time, sales of luxury real estate over $4 million soared 144% and 147% in the GTA and the city of Toronto respectively. In Montreal, $1 million-plus real estate sales increased 13% in the first two months of 2017 compared to the year prior, while Calgary’s remained on par with 2017 levels. Vancouver sales over $1 million fell from historic highs by 45% year-over-year during this time as sales over $4 million contracted 68%.
Canada’s top-tier real estate market continues to face unprecedented levels of uncertainty in spring 2017, absorbing the impact of previously introduced government policy, responding to shifting signals on potential new regulation, and moving with forceful geo-political headwinds on a continental and global scale. In spite of these macro-influencers, local market factors such as inventory levels, regional economic and job indicators, consumer confidence and hyper-local demand will continue to be the predominant forces influencing top-tier market performance in spring 2017.
“The Toronto real estate market has pulled into a league of its own, and we expect to see all-star performances across every luxury segment – single family and attached homes, as well as unprecedented performance in the luxury condominium market,” said Brad Henderson, President and CEO of Sotheby’s International Realty Canada. “At the same time, rising Canadian consumer optimism will add positive colour to the markets in Vancouver, Calgary and Montreal in the coming months.”
Cautious optimism has returned to the city of Calgary’s top-tier real estate market as sales activity stabilized leading into spring 2017. Sales over $1 million (condominiums, attached and single family homes) experienced 19% gains in 2016 over 2015, and early 2017 data indicates that this ground will maintain into the spring. As inventory contracted, 64 properties sold over $1 million during the first two months of 2017, unchanged from the same period in 2016.
Of these transactions, 57 single family homes sold over $1 million, up a marginal 2% over the same period in 2017. Two condominiums sold over $1 million in the first two months of 2017 compared to one in 2016.
Stabilizing consumer confidence, however, remains fragile. The city’s real estate market remains vulnerable to continued uncertainty in the oil and gas sector, elevated unemployment rates, wage uncertainty and net population outflow. The potential risk for new spring listings inventory to overtake demand also exists. With a buyers’ market still entrenched in Calgary, and with conventional and top-tier market indicators still weak, sellers are cautioned to price and market strategically for current conditions through the course of the spring.
Vancouver’s top-tier real estate market is expected to normalize this spring, following an action packed 2016 that saw sales over $1 million hold steady at a nominal 1% year-over-year decrease from record highs as the $4 million plus market posted 34% gains in spite of multi-pronged policy introductions aimed at cooling the market.
Slackening sales at the start of 2017 signal a pending return to more moderate levels of market activity: residential real estate sales over $1 million declined 45% year-over-year to 531 units sold in January and February 2017, while sales over $4 million decreased 68% to 43 units compared to 133 units sold in the same period in 2016.
Single family home sales over $1 million fell 56% to 296 units sold in the first two months of 2017 compared to the same period in 2016. During this time, luxury home sales over $4 million stalled as real estate consumers hesitated and price expectations diverged between prospective buyers and sellers. Luxury single family homes over $4 million decreased 71% year-over-year to 35 units sold in January and February 2017 compared to 120 units sold during the same months of 2016.
Demand for top-tier condominiums continue to reflect greater resilience than the market for single family homes. Buoyed by favourable demographic trends, downsizing baby boomers and millennial first-time homebuyers are boosting demand as they seek alternatives to detached homes. Condominium sales over $1 million in January and February 2017 decreased 28% year-over-year to 142 units sold, with five sales over $4 million reflecting a 55% decline from the same months the previous year. Persistent bidding wars within the top-tier condominium market suggest healthy demand in spring 2017.
In spite of imminent real estate market adjustments, Vancouver has boasted Canada’s fastest growing metropolitan area economy for two straight years, and economic authorities have projected that the city will maintain this leading position into 2017 with a 2.8% expansion of the economy. Continued net migration, the lowest unemployment rate of Canada’s largest cities and low vacancy rates will continue to sustain long term housing demand and consumer confidence in Vancouver’s top-tier real estate market in the longer term.
Soaring activity in the first two months of the year foreshadow new heights for the Greater Toronto Area’s top-tier real estate market this spring. In January and February 2017, the GTA (Durham, Halton, Peel, Toronto and York) market continued its record-setting sales streak, posting the strongest year-over-year gains of Canada’s four major metropolitan markets for the period. Real estate sales over $1 million (condominiums, attached and single family homes) increased 87% to 3,043 properties sold, while luxury sales over $4 million increased 144% year-over-year to 66 units sold. During this time, sales over $1 million and $4 million in the city of Toronto increased 44% and 147% year-over-year, to 943 and 42 properties sold.
These gains follow a year in which GTA sales over $1 million and $4 million surged 77% and 95% in 2016 over 2015, while $1 million-plus and $4 million-plus sales in the city of Toronto increased 44% and 87% year-over-year.
Exceptional performance is anticipated for the high-end condominium market in spring 2017. Shifts in demographics, strong consumer and investor confidence, and comparative affordability in face of escalating single family home prices has propelled steep gains in demand resulting in heated bidding wars, and robust sales. Across the GTA, early 2017 condo sales volume over $1 million exceeded 2016 levels by 104% with 167 units sold. Within the city of Toronto sales of condos over $1 million rose 85% year-over-year to 135 units. Four condos sold over $4 million during this time, all within the city of Toronto, up 33% compared to the first two months of 2016.
The $1 million-plus market for single family homes is projected to sustain heated growth this spring. In the first two months of 2017, the segment experienced 86% year-over-year gains in sales volume within the GTA and 38% gains in sales volume in the city of Toronto to 2,876 and 808 units respectively. The $4 million-plus luxury home segment is expected to surpass previous gains: in the first two months of 2017, sales volume rose 158% year-over-year to 62 units sold in the GTA, and 171% to 38 units sold in the city of Toronto.
Healthy gains are forecast for the $1 million-plus real estate market in Montreal for spring 2017, following modest year-over-year gains in sales volume in the first two months of the year. In January and February 2017, real estate sales over $1 million increased 13% over the same months in 2016 to 88 properties (condominiums, attached and single family homes) sold. While single family home sales rose 10% year-over-year to 76 properties sold, condominium sales over $1 million rose 33% to 12 properties sold.
Top-tier single family home sales are expected to see steady gains in sales volume and velocity from 2016 levels. The addition of new condominium inventory to the market with the recent completion of several new developments is projected to moderate prices, even as projected consumer demand is forecast to absorb additional supply.
Continued growth in Quebec’s provincial economy, buoyant consumer optimism and enduring political stability are set to sustain positive market conditions for top-tier real estate through the spring.
A beautiful acreage setting compliments this stunning walkout bungalow, boasting 4 bedrooms in total & featuring a dramatic main level with vaulted ceilings. The huge kitchen centers around an expansive island & flows into the bright open dining room & living room with a focal stone fireplace. Downstairs there are 2 spacious bedrooms complete with a beautiful 3 pc bathroom & a fantastic layout offering a luxurious wet bar, beautiful double sided stone fireplace, & theatre area. Entertain at the bar, or open the patio doors where interlocking stone leads to a excellent built-in bbq gathering area. This lower level is an entertainer's dream. Unique to this property are 2 separate 1500 SqFt buildings, perfect for the hobby/sports/car enthusiasts, or trades person! With in floor heating, brick fireplace and 4 pc bathroom, this first outbuilding offers an abundance of use options! The 2nd shop features open space, overhead heating & upgraded electrical for professional applications. Brazilian cherry hardwood flows down from the foyer hall and throughout the living room and dining area. Built-in pantry, tech desk centre and expansive deck with lovely tree lined views, make this main haven the heartbeat of the home and in perfect harmony with its country surroundings. The beautiful Masters Suite offers double closets with glass inlay and functional storage space. This retreat allows room for king sized furniture and flexible layout. Complete with a beautiful en suite that hosts heated tile floor, a soothing jetted tub and a long marble counter, this bedroom is a truly tranquil part of this extraordinary home. The attached oversized 3 car garage is fully finished and offers high ceilings and room for shelving or storage. The 2 additional buildings feature in-floor heating and even function on a separate septic system. An excellent opportunity to own a remarkable property close to schools, sports centers, shopping and city amenities.
A wonderful opportunity to own this beautiful 5 bedroom, fully finished walk-out home, backing on to the serene setting of Kinniburgh pond! You are greeted by a huge front covered veranda entering into the foyer where hardwood & tile lead to the den/flex room, open living room & kitchen, where it blends to the spacious deck & fantastic views. Boasting a gorgeous granite kitchen island w/eat up bar, loads of cabinet & counter space, open dining area & artistic 24x24 floor tiles, complimenting the stainless back splash & designer touches throughout. The upper level offers a bonus room, lovely master retreat overlooking the pond, double vanity en suite with soaker tub & large separate shower. The other 3 spacious bedrooms & a beautiful main 5pc bath make this a dream family home. The bright basement features a wide open rec area, open theatre area, wet bar, spacious 5th bedroom, gorgeous bathroom & storage room. This is beautiful living. Flexible possession is available. Additional features include a fully finished garage, storage under the deck enclosure and R/I gas line for the range along with Gas line on deck for BBQ. Each and every bathroom has heated tile flooring! See details here
SOLD in 21 Days for 97.5 % of List Price!!!
An excellent opportunity for big value in Sundance. This large 4 level split, sitting on a north facing corner lot offers a dramatic vaulted ceiling front to back, which gives the main living room, open dining area and kitchen a bright and airy feel. The upper level features a Master Bedroom with spacious walk-in closet and 3 piece en suite, while the other 2 bright bedrooms are near the full 4pc bathroom.The lower level living room with corner fireplace, has a large window that soaks the room with light. This level blends to another 4th bedroom, 3 piece bath and the laundry room/mudroom off the double garage access. Below, there is a generous open room, and another bedroom, along with plenty of crawl space for storage. Within an ideal proximity to schools, bus routes & the lake, this home has a lot to offer. Bring your ideas for fresh paint and new flooring and you will see this as a great opportunity for big value with a little vision!
Client's Social Media Pos To Friendst:
"Our house in Calgary sold! New chapter continues....
Super huge thanks to Steven Hill, our realtor....sold in record time for 97% of list price....if you need a realtor in Calgary go to Steven Hill with Sotheby's. Steven sold us our house 6 years and when we knew we were going to sell he was our first thought. Steven went way beyond for us. He coordinated the sale while we are in living in California , shoveled our huge sidewalk, cleaned our house for us, professional photos and measurements at no extra cost....WOW...THANK YOU Steven Hill!"
Lowest February inventory since 2006 Consistent with typical seasonal behavior sales, new listings and ...
Supply of lower-priced homes remains low for January The level of new listings in January fell to the ...