Calgary Real Estate

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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

Forecast report: Calgary housing market expected to stabilize in 2023
Market Knowledge

Forecast report: Calgary housing market expected to stabilize in 2023

Calgary housing market expected to stabilize in 2023 The Calgary Real Estate Board (CREB®) has released its 2023 Forecast Calgary and ...

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What The Foreign Buyers Ban Means For You
Market Knowledge

What The Foreign Buyers Ban Means For You

On January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Foreign Buyers Ban”) came into ...

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December 2022 | Calgary Housing Market Update
Market Knowledge

December 2022 | Calgary Housing Market Update

2022 saw record-high sales and double-digit price growth City of Calgary | January 3, 2022– December sales eased, however, slowing ...

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2023 Luxury Outlook Report : Sotheby's International Realty Canada
Market Knowledge

2023 Luxury Outlook Report : Sotheby's International Realty Canada

I am pleased to introduce the Sotheby's International Realty 2023 Luxury Outlook report, which outlines the industry trends and happenings ...

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Style & Design

Six essential tips to prepare your home for a spring sale

Posted by Steven Hill on Jan 10, 2023

Six essential tips to prepare your home for a spring sale As we recover from the Holidays, it's hard ...

The beauty of minimalist Bauhaus design

Posted by Steven Hill on Jul 29, 2022

The interior design style known as Bauhaus is guided by the belief that materials should not be hidden ...

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The beauty of minimalist Bauhaus design

The interior design style known as Bauhaus is guided by the belief that materials should not be hidden behind upholstery but exposed to show the honesty of each piece.

This sparse, austere style can be recognised by its steel tubing designs of chairs, sofas and tables. It still looks incredible in modern houses and apartments, yet it rose out of a war-ravaged Germany from the 1920s. 

Bauhaus elevated the skills of architecture, design and machinery and its design philosophy is around simplicity, economic logic and mass production

When you select Bauhaus as your interior design, you are embracing German history and culture that championed the beauty of industrialised, mass-produced furniture of light materials, geometric form and functionality.

Here are some tips for introducing a Bauhaus aesthetic to your home

1. Function comes first

The most fundamental of Bauhaus principles is that form follows function. Practically, this means that what looks good takes second place to practical use. For example, chairs with no discernible purpose are avoided even if one might look good in the corner of the room. This means no knick-knacks and ornaments.

2. True materials

Bauhaus deals faithfully with the materials of the furniture. Nothing should be hidden for the sake of aesthetics. Your home should expose the beams in the roof and make it integral to the furnishings, where the steel-tubing of chairs and tables is exposed as part of the ‘truth in materials’ philosophy. 

3. Leave it linear

Your entire approach must embrace the minimalist, industrial philosophy with the placement of furniture being linear. Avoid curves. Color, line and shape of furniture are the primary, almost the only, consideration in true Bauhaus design.

4. Add art for accents

Bauhaus interior design inspired a new wave of German art in the early 1920s that can still be found today. The founder of the Bauhaus movement, Walter Gropius, warned against creating an empty carcass of a home and he encouraged the installation of select and powerful artwork. Everything you put in your house should embrace the overall concept of Bauhaus. 

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Remodeling tips for a family-friendly bathroom

It may be the smallest room in the house, but the bathroom makes a big impact, especially with so many stunning options now available in tiling, baths and vanities.

A bathroom remodeling project can add thousands of dollars to a property and, at the same time, enhance family life. But some of the new luxury options can be a little impractical when they’re used regularly by kids. 

It’s important to make great decisions that are affordable and add value to your home.

Here’s our guide to remodeling for a family-friendly bathroom that’s beautiful and practical. 

Make bath-time the best time

A bath is essential, as every parent knows. It’s a great place to calm down the kids and get them ready for the evening and bedtime. Acrylic baths offer the best value and safer option than say, an iron bath. The new freestanding baths are the height of luxury, but with kids splashing everywhere, mess can quickly build up in hard-to-access corners. Get the best of both worlds by choosing the styles that look like they’re freestanding but actually fit flush to the wall. 

Get your head around the shower

Select an adjustable, detachable showerhead and hand shower to cater for every age group. It’s especially practical for washing hair and will allow you to ‘hose down’ kids on the occasions when they need it, like after a muddy sports day. Hand-helds also makes cleaning the shower easier because you can get into the corners and rinse off tiles properly.

Flushed with success

No one enjoys scrubbing the bathroom. Reduce dust and mess build up around the S bend and awkward spots by choosing a unit that runs flush to the wall, or hangs from the wall. It will make cleaning so much easier. Also, choose a soft-closing seat to prevent it slamming down. 

Sinks and vanities

Make sure your vanity doesn’t have sharp edges. Avoid protruding basins as this reduces the risk of children bumping their heads. If you have space, consider installing a double vanity so there’s no fighting over the tap at teeth-brushing time. Vanity tops can be stained or scratched easily if you choose the wrong materials. Quartz and stone are high-end materials that are scratch-resistant and come in a variety of designs and colors. They’re better for high traffic and splash areas than say, timber. Glass for your shower recess and glossy porcelain tiles will maintain their original luster even with punishing usage.

Tile tips

Avoid the temptation to choose a white tiled floor. It will show dust, dirt and hair minutes after you’ve cleaned it. Go for a more beige or sandy color, or consider a texture that will make regular wear less noticeable. Make sure the floor tiling is non-slip. A good choice is mosaic tiling because its many grout lines offer greater grip. Tile to the ceiling if this is practical, especially behind the bath. That way the kids can splash to their hearts’ content, and you don’t have to worry about the paintwork. 

Don’t get into hot water

Ask your bathroom designer about new devices that stop children from being scalded by hot water. A temperature-control feature in the bathroom will keep the children safe and be an asset if you wish to sell your home in the future. Easy-grip lever-handle taps can help avoid accidents, too, and they’re easier for kids to manage. 

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Market starts to shift as sales slow

City of Calgary, July 4, 2022 –  Sales activity in June eased relative to the past several months and with 2,842 sales, levels declined by two per cent over last year’s record high. While sales activity has remained relatively strong for June levels, the decline was driven by a pullback in detached and semi-detached home sales.

“As expected, higher interest rates are starting to have an impact on home sales. This is helping shift the market toward more balanced conditions and taking some of the pressure off prices,” said CREB® Chief Economist Ann-Marie Lurie.

“While we are starting to see some transition, it is important to note that in Calgary year-to-date sales are still at record levels and prices are still far above expectations for the year.”

This pullback in sales was not met with the same level of pullback in new listings. This caused inventories to trend up over previous months. These shifts are supporting some easing from the exceptionally tight conditions as the months of supply remained just shy of two months. While two months is still considered low for our market, it is a significant change over the one month of supply recorded earlier in the year.

After three months of gradual gains in the months of supply, prices eased slightly relative to last month. However, with a city-wide benchmark price of $543,900, levels are still over 13 per cent higher than last year.

With further rate gains expected, we could continue to see slower sales activity and some monthly price growth slippage in the Calgary market in the coming months. However, thanks to renewed migration and job growth in a wide range of sectors, it is unlikely that we will see a full reversal of the price gains made so far this year. 

Detached

For the third month in a row, sales levels in the detached market have eased. Much of the pullback has occurred from homes priced under $600,000. While some of this is likely related to the continued lack of supply choice, the pullback in this sector is also related to the rise in lending rates that are impacting qualifications levels and creating some hesitancy among consumers.

The pullback in sales relative to new listings did cause some modest gains in inventory levels compared to earlier in the year. This helped push up the months of supply to just under two months. The shift to more balanced conditions has been limiting the upward pressure on prices. As of June, the benchmark price was $647,500. This is comparable to last month, but still 16 per cent higher than last year. 


Semi-Detached

Like the detached sector, sales activity slowed in June. While the pullback in sales was not enough to offset earlier gains, it was enough to push the months of supply up to nearly two months. While this gain in months of supply is likely welcome news for some buyers, conditions still remain tight compared to what we traditionally see in this segment of the market.

Prices also saw some adjustment this month easing slightly relative to May’s levels. This was mostly due to adjustments in the North East, East, North West, North and South East districts of the city. However, with a benchmark price of $581,600, prices in Calgary remain nearly 13 per cent higher than levels reported last year.
 

Row

Unlike the detached and semi-detached sector, row sales activity improved and reached a new record high for the month of June. The row market tends to offer a more affordable option for consumers compared to both semi-detached and detached homes. While new listings did improve relative to levels recorded last year, it was not enough to offset the gains in sales. As a result, inventories trended down and the months of supply remained relatively tight at one and a half months.

The benchmark price still recorded some modest gains this month, but the pace of growth slowed down significantly compared to earlier in the year. Overall, the benchmark price reached $363,700, nearly 16 per cent higher than last year.   


Apartment Condominium

While apartment condominium sales continued to slow from record levels reported earlier in the year, sales were still over 31 per cent higher than levels reported last year. This in part was possible due to the recent boost in new listings. At the same time, the boost in new listings did help take some of the supply pressure off this market as the sales-to-new-listings ratio eased to 62 per cent and the months of supply pushed up to nearly three months. 

The shift to more balanced conditions is also helping slow the pace of price growth in this market, but not completely disrupt it. The benchmark price in June reached $277,400, nearly one per cent higher than last month and 10 per cent higher than last year’s levels. Despite these gains, prices continued to remain below 2014 highs.

REGIONAL MARKET FACTS


Airdrie

Sales in June continued to ease from levels reported earlier in the year and levels achieved last year. However, the decline was not enough to offset earlier gains as year-to-date sales remain over 24 per cent above last year’s levels. While new listings did improve compared to last year, levels were not enough to significantly alter the tight market conditions in Airdrie. The sales-to-new-listings ratio remained relatively tight at 81 per cent and the months of supply, while higher than earlier in the year, pushed just slightly above one month. 

Earlier in the year, Airdrie reported some of the highest monthly price gains ever seen in the market, so as interest rates rise and consumers take a step back to reevaluate conditions, it is not a surprise that we are seeing some adjustments in price. While prices have trended down for the past two months, they remain over 22 per cent higher than levels reported last year. 


Cochrane

Easing sales this month contributed to year-to-date sales of 735 units, just slightly higher than levels reported last year. So far this year, the growth in new listings has outpaced the growth in sales and it has helped push up inventory levels relative to what was available in the market earlier in the year. This also helped push the months of supply back above one month, something that has not happened since October of last year.

While conditions remain far from balanced, the slight shift has taken some of the pressure off home prices which reported strong monthly gains earlier in the year. The benchmark price in June rose to $522,600, a slight gain over last month and nearly 18 per cent higher than prices recorded last year.
 

Okotoks

Sales activity remained relatively stable this month supporting year-to-date sales of 544 units, just slightly higher than levels reported last year. At the same time, new listings have also remained relatively consistent with last year’s levels. This is leaving the market to continue to favour the buyer with one month of supply and a sales-to-new listings ratio of 80 per cent.

Despite tight conditions, there was a modest pull back in the monthly price. However, with a benchmark price of $556,200, prices remain nearly 17 per cent higher than levels reported last year.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.


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June 2022 | Calgary Housing Market Update

Market starts to shift as sales slow


City of Calgary, July 4, 2022 –

Sales activity in June eased relative to the past several months and with 2,842 sales, levels declined by two per cent over last year’s record high. While sales activity has remained relatively strong for June levels, the decline was driven by a pullback in detached and semi-detached home sales.

“As expected, higher interest rates are starting to have an impact on home sales. This is helping shift the market toward more balanced conditions and taking some of the pressure off prices,” said CREB® Chief Economist Ann-Marie Lurie.

“While we are starting to see some transition, it is important to note that in Calgary year-to-date sales are still at record levels and prices are still far above expectations for the year.”

This pullback in sales was not met with the same level of pullback in new listings. This caused inventories to trend up over previous months. These shifts are supporting some easing from the exceptionally tight conditions as the months of supply remained just shy of two months. While two months is still considered low for our market, it is a significant change over the one month of supply recorded earlier in the year.

After three months of gradual gains in the months of supply, prices eased slightly relative to last month. However, with a city-wide benchmark price of $543,900, levels are still over 13 per cent higher than last year.

With further rate gains expected, we could continue to see slower sales activity and some monthly price growth slippage in the Calgary market in the coming months. However, thanks to renewed migration and job growth in a wide range of sectors, it is unlikely that we will see a full reversal of the price gains made so far this year.

HOUSING MARKET FACTS

Detached
For the third month in a row, sales levels in the detached market have eased. Much of the pullback has occurred from homes priced under $600,000. While some of this is likely related to the continued lack of supply choice, the pullback in this sector is also related to the rise in lending rates that are impacting qualifications levels and creating some hesitancy among consumers.

The pullback in sales relative to new listings did cause some modest gains in inventory levels compared to earlier in the year. This helped push up the months of supply to just under two months. The shift to more balanced conditions has been limiting the upward pressure on prices. As of June, the benchmark price was $647,500. This is comparable to last month, but still 16 percent higher than last year.

Semi-Detached
Like the detached sector, sales activity slowed in June. While the pullback in sales was not enough to offset earlier gains, it was enough to push the months of supply up to nearly two months. While this gain in months of supply is likely welcome news for some buyers, conditions still remain tight compared to what we traditionally see in this segment of the market.

Prices also saw some adjustment this month easing slightly relative to May’s levels. This was mostly due to adjustments in the North East, East, North West, North and South East districts of the city. However, with a benchmark price of $581,600, prices in Calgary remain nearly 13 percent higher than levels reported last year.
 
 
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Latest Blog Posts

Forecast report: Calgary housing market expected to stabilize in 2023

Posted by Steven Hill on Jan 24, 2023

Calgary housing market expected to stabilize in 2023 The Calgary Real Estate Board (CREB®) has released ...

What The Foreign Buyers Ban Means For You

Posted by Steven Hill on Jan 16, 2023

On January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the ...

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