Top Luxury Home Buying Tips in Calgary

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Confession Time About This Blog

Blogging has not been my strength and so this is officially a work in progress.  I have some big plans for the blogging page in the foreseeable future so I ask for your patience as I venture into this side.

Market Updates

OCTOBER 2024 HOUSING MARKET UPDATE
Market Knowledge

OCTOBER 2024 HOUSING MARKET UPDATE

Supply levels improving for higher-priced homes November 1, 2024 Sales and Price Range Dynamics | Sales of homes priced above $600,000 ...

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Top-Tier Real Estate: 2024 Fall State of Luxury Report*
Market Knowledge

Top-Tier Real Estate: 2024 Fall State of Luxury Report*

Canada’s housing market continues to balance the effects of population growth and declining mortgage rates against a slowing economy, ...

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SEPTEMBER 2024 HOUSING MARKET UPDATE
Market Knowledge

SEPTEMBER 2024 HOUSING MARKET UPDATE

New listing growth driven by higher-priced homes October 1, 2024 Sales Decline in Lower Price Ranges | Despite rising sales in higher ...

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AUGUST 2024 HOUSING MARKET UPDATE
Market Knowledge

AUGUST 2024 HOUSING MARKET UPDATE

Calgary housing market sees shifts Housing activity continues to move away from the extreme sellers’ market conditions experienced ...

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Style & Design

Things To Do This Month FOR FREE in Calgary

Posted by Steven Hill on Dec 12, 2023

Times Are Tough, But Finding Low-Cost Fun Shouldn't Be Here Are Things To Do This Month FOR FREE Legacy’s ...

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10 Halloween Safety Tips For Your Home

Posted by Steven Hill on Oct 03, 2023

Home safety for trick or treaters As a responsible homeowner, making your property safe for young trick-or-treaters ...

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Ways to Bring Eco-Conscious Beauty to Your Home
As more people become increasingly aware of the effects of our energy consumption on climate change, homeowners are choosing to adopt more sustainable design solutions. Creating a welcoming, stylish home is now as much about putting thoughtful care into responsibly sourced furnishings as it is about picking pieces that suit your needs. It’s about making smart choices for the environment without having to sacrifice beauty or function.

Just in time for Earth Day, these suggestions for how you can choose to enhance your home’s interior eco-friendliness range from repurposing existing materials to thinking on a more local scale, all while keeping beauty at the forefront of design.

 
Choose Responsible, Local Furniture Companies
Choose pieces from local companies that are dedicated to sustainable interior design—these brands are more likely to use ethical, responsibly sourced materials, but they’ll also have a low-waste and low-pollution logistics and shipping mandate.

Rework Vintage Finds
For those who prefer to reduce manufacturing demand and keep existing pieces in circulation, sourcing vintage furnishings and décor is the most sustainable option. A simple reupholstering or paint job is an easy way to invest in quality antiques while giving your home a stylish and sustainable update.

Switch to Eco-Friendly Fabrics
Opt for materials like linen, cotton, wool, jute, and hemp, especially recycled or certified blends, which are more sustainable than synthetics. Curtains and drapes will also help with your energy footprint: use them to reduce the amount of interior heat lost through window panes in colder seasons, and to block direct sunlight in summer, reducing the need for air conditioning.

Making Green Home Improvements
There are easy ways to make eco-friendly home improvements that can also increase the value of your home like installing a programmable thermostat, in-floor heating, and purchasing Energy Star appliances.

Update Your Light Fixtures
Opting for energy-efficient lighting fixtures will make a notable difference in the energy consumption in your home. An easy way to start is by replacing your old incandescent bulbs with LED bulbs.

Incorporate Artisan-Made Home Goods
Artists that work on a small scale are able to focus their efforts on using sustainable, locally-sourced materials and time-honoured skills, and investing in their work means you’re supporting smaller businesses while adding considered artworks to your home.

 
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Q1 2021 Calgary Housing Report
City of Calgary, April 20, 2021 –

The economic challenges associated with COVID-19 brought about a dramatic rate cut from the Bank of Canada and an even more significant drop in the discount rates for mortgages.

The low-interest-rate environment, combined with pent-up demand and increased savings among those who remained employed throughout the pandemic, is supporting stronger-than-expected gains in resale sales activity.

By the end of the first quarter, there were 5,945 sales in Calgary, 43 per cent higher than the 10-year average and the best start to the year since 2007.

“Sales activity is currently exceeding expectations. However, rising prices are expected to support new listings growth and also impact the pace of sales growth especially if discount rates continue to rise. This will help eventually support more balanced conditions,” said CREB® chief economist Ann-Marie Lurie.

New listings rose to the highest first-quarter levels seen in over a decade, but it did little to move overall inventory levels, which averaged 4,687 units in the first quarter. This kept market conditions exceptionally tight, with citywide months of supply of just over two months.

The tightening conditions that started halfway through last year have caused prices to trend up, with the pace of growth rising in the first quarter of this year. This price growth was enough to push quarterly prices four per cent higher than the first quarter of last year.

“This price growth has been counterintuitive to many, considering the job loss and economic challenges that face this province and city. However, we also need to keep in mind that this is still a story of recovery for prices, which currently remain well below the highs recorded in 2014.

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March 2021 | Calgary Real Estate Market

Calgary housing market sees best March sales in over a decade

City of Calgary, April 1, 2021 –

Persistent sellers’ market conditions contribute to price gains

The initial impact of COVID-19 on the housing market began last March.

One year later, it is not a surprise that March sales in 2021 were higher than in 2020. However, at 2,903 sales, this was the highest March total since 2007.

“Low lending rates and improved savings have supported sales activity,” said CREB® chief economist Ann-Marie Lurie.

“However, sales have been somewhat restricted by the lack of listings. This month there was a jump in new listings, contributing to the strong monthly sales.”

Inventory levels pushed above 5,400 units, but citywide months of supply fell below two months. This reflects the lowest months of supply for March since 2014 and these tight conditions have contributed to price gains.

In March, the benchmark price trended up over last month to $441,900, over six per cent higher than last year’s levels. The price gains have moved the market closer to recovery, but prices remain over five per cent lower than 2014 highs.

“Improving prices will likely support further gains in new listings, as sellers try to capitalize on the recent shift toward rising prices,” said Lurie.

“Eventually, this will help support more balanced conditions, but it could take time before we see this shift in the market.”


HOUSING MARKET FACTS

Detached
Like last month, detached sales activity improved across most price ranges and all districts in the city. While new listings did improve, inventory levels remained relatively low at 2,409 units, causing the months of supply to drop to just over one month.

The citywide detached benchmark price rose by nearly eight per cent compared to last year. Year-over-year gains ranged from a low of nearly three per cent in the City Centre to a high of nearly 11 per cent in the North and South East districts.

Prices in most districts remain below previous monthly highs, but recent gains in both the North and South East have supported full price recovery in those areas.

Product priced under $400,000 recorded the lowest sales growth, as limited inventory weighed on that segment of the market. However, rising sales and easing inventory resulted in tighter market conditions across all price ranges. This is likely supporting price gains, not only in the mid and lower price ranges, but also the upper price ranges in the market.

Semi-Detached
Steady gains in sales caused first quarter sales totals to reach nearly record highs for this property type. Improving new listings were not enough to offset the sales and the months of supply fell below two months for the first time since 2014. Low supply levels relative to sales contributed to further gains in prices, which, as of March, were nearly six per cent higher than last year’s levels.

Benchmark prices trended up across all districts and prices remained higher than last year’s levels across most districts. The largest year-over-year price gains occurred in the North district, with an increase of nearly 10 per cent.

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Latest Blog Posts

OCTOBER 2024 HOUSING MARKET UPDATE

Posted by Steven Hill on Nov 01, 2024

Supply levels improving for higher-priced homes November 1, 2024 Sales and Price Range Dynamics | Sales ...

READ POST

Top-Tier Real Estate: 2024 Fall State of Luxury Report*

Posted by Steven Hill on Oct 23, 2024

Canada’s housing market continues to balance the effects of population growth and declining mortgage ...

READ POST
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