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Market Updates

June 2024 HOUSING MARKET UPDATE
Market Knowledge

June 2024 HOUSING MARKET UPDATE

Sales in June reached 2,738, marking a 13 per cent decline from last year’s record high. Although sales improved for homes priced above ...

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May Housing Market Update
Market Knowledge

May Housing Market Update

Calgary home sales remain robust despite supply shortages in lower price ranges June 3, 2024 Resilient Sales with a Slight Dip | May ...

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April Housing Market Update
Market Knowledge

April Housing Market Update

Price growth persists in Calgary as seller's market prevails May 1, 2024 Sales Growth and Market Trends | Despite a slight easing in ...

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2024 TOP TIER REAL ESTATE SPRING REPORT
Market Knowledge

2024 TOP TIER REAL ESTATE SPRING REPORT

Canada’s luxury real estate market eased into spring with modest sales gains across key metropolitan cities, as the dynamic between ...

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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 ...

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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10 Halloween Safety Tips For Your Home

Home safety for trick or treaters

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

Everyone wants an accident-free Halloween in the neighborhood, so these few tips will ensure the local kids have a scary and super-fun night.

Clear paths

Little trick-or-treaters are excited and ususally run from house to house.  Tidy up the front yard, removing any garden tools or toys that might be left out to avoid tripping hazards.

Light it up

Turn on your exterior lights, especially if you have illuminated the edges of your garden path.

Flame-free

If you plan to decorate your home, it's a cool idea not to use anything flammable.

Animal Friendly Decor

Avoid using the faux spider web decor. These cobwebs are hard to remove after Halloween and birds often try to use it in nesting material come spring.  Although it's cozy, it's actually dangerous as it often tangles around the beaks and feet of both parents and babies in the nest.

Cable danger

If your Halloween installation needs electricity, please tape down extension cords and cables from where trick-or-treaters will walk.

Sweet treat 

If you're in the “treat brigade”, consider giving kids candy in reflective bags. Or offer gifts that are reflective, as these will help drivers see them as they move down your street.

Allergies

Don't include nuts or chocolate with nut content in your stash of treats. 

Check the candy

Sometimes treat wrappers aren't properly sealed when coming out of the box. It's a great idea to go through your candy stash to ensure everything is edible. Where wrappers are even slightly opened, discard the candy.

Be blunt

Many folks will use items like swords and wands to help dress the house so it's super-spooky. Please ensure these items are soft, and there's no possible way kids could come to any harm from them.

Brief neighbours

If you're planning a big Halloween party, it's a great idea to let the neighbors know.


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Calgary home sales at record highs in September, yet supply remains a challenge


Sales reached another record high in September with 2,441 sales. Despite the year-over-year gains reported over the past four months, year-to-date sales are still nearly 12 per cent lower than last year's levels.

New listings also improved this month compared to last year and relative to sales. This caused the sales-to-new listings ratio to fall to 76 per cent, preventing further monthly declines in inventory levels.

Nonetheless, inventory levels in September remained over 24 per cent lower than levels seen last year and, when measured relative to sales activity, has not changed enough to cause any significant shift in supply and demand balances. As of September, the months of supply has remained relatively low at less than two months.

“Supply has been a challenge in our market as strong inter-provincial migration has elevated housing demand despite higher lending rates,” said CREB® Chief Economist Ann-Marie Lurie. “While new listings are improving, it has not been enough to take us out of sellers’ market conditions.”

In September, the unadjusted residential benchmark price was $570,300, similar to last month and nearly nine per cent higher than last year. 

Detached

Inventory levels remained at record lows for the month as the sales-to-new listings ratio remained relatively high at 76 per cent. The decline in inventory levels has been driven by homes priced below $700,000, as supply levels show some improvement for homes priced above this level. While detached sales improved over levels reported last year, much of the gains were driven by the higher-priced properties with some supply options. Overall, homes priced below $700,000 continue to struggle with less than one month of supply.
 
Despite persistently tight market conditions, the unadjusted benchmark price remained relatively stable this month compared to last month, as a monthly price adjustment in the West end of the city offset monthly gains in all other districts. Overall, at a benchmark price of $696,100, prices are still over 11 per cent higher than levels reported last year at this time, with year-over-year gains ranging from a high of 20 per cent in the East district to a low of nine per cent in the City Centre.
 

Semi-Detached

September reported a boost in new listings compared to sales activity as the sales-to-new listings ratio dropped below 70 per cent, the first time it has done that since September of last year. The one-month shift supported a monthly increase in inventory levels, but with 295 units available, inventories have not been this low since September 2005.
 
Following ten consecutive monthly price gains, benchmark prices in September did ease slightly over the last month. However, at a benchmark price of $621,300, prices are still 11 per cent higher than last year’s levels. The monthly pause in price was primarily driven by adjustments in the West and North West districts, which saw the months of supply rise above levels reported last year and last month.
 

Row

The pullback in monthly sales outpaced the pullback in new listings, causing the sales-to-new listings ratio to fall to 84 per cent. While conditions are still exceptionally tight, it is an improvement over the 90 per cent average reported since April. The shift also prevented any further monthly declines in inventory levels. However, with less than one month of supply, the persistently tight conditions continue to place upward pressure on prices.
 
The benchmark price in September reached $419,400, a 1.5 per cent monthly gain and 17 per cent higher than levels reported last year. Price gains have occurred across all districts, with the most significant gains occurring in the most affordable districts in the city.
 

Apartment Condominium

New listings in September were at the highest levels reported for September, contributing to the record-high sales this month. Year-to-date apartment condominium sales reached 6,286 sales, a 25 per cent gain over last year and a record high for the city. Higher lending rates and tight rental market conditions have kept demand for apartment-style products strong. While inventory levels did see a modest gain compared to last month, thanks to a lower sales-to-new-listings ratio, conditions remain exceptionally tight with 1.5 months of supply.
 
The persistently tight market conditions have continued to drive further price gains. In September, the unadjusted benchmark price reached $312,800, a 1.2 per cent increase over last month and nearly 15 per cent higher than last year.

REGIONAL MARKET FACTS


Airdrie

With 204 new listings and 144 sales, the sales-to-new-listings ratio dropped to 70 per cent, the first time that has happened since 2020. Improved new listings compared to sales helped support a modest monthly gain in inventory levels. However, September inventory levels are still amongst the lowest levels reported since 2005, keeping the months of supply exceptionally low with just over one month.
 
The persistently tight market conditions have continued to drive further price gains in the city. In September, the unadjusted benchmark price reached $518,000, reflecting a year-over-year increase of over eight per cent. Price gains have occurred across all property types, with the largest year-over-year gains occurring in the apartment condominium sector.
 

Cochrane

Both sales and new listings eased in September, leaving inventory levels relatively stable this month. While inventories are nearly 40 per cent lower than long-term trends for the month, they are not at the record lows seen. The pullback in sales compared to inventory levels also caused the months of supply to push up above two months, the first time we have seen that since February.
 
While conditions remain relatively tight, the shift likely prevented further upward pressure on monthly home prices. The unadjusted benchmark price in September was $532,700, slightly lower than last month due to pullbacks in the detached, semi-detached and row sectors. Despite the monthly pause, total residential prices are still over five per cent higher than September 2022 levels. 


Okotoks

With 69 new listings and 52 sales, the sales-to-new listings ratio dropped to 75 per cent in September, the lowest ratio seen since August 2022. The gain in new listings relative to sales prevented any further monthly declines in inventory levels. However, with only 70 units available in September, inventory levels are still amongst the lowest reported monthly levels in over 20 years.
 
The modest adjustment in both inventory and sales did cause the months of supply to rise over last month’s levels. Still, conditions remain relatively tight, especially for semi-detached, row and apartment-style properties. As of September, the unadjusted benchmark price was $580,200, nearly nine per cent higher than 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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Six Fall Tips To Prep Your Garden For Spring

Pruning for winter without cutting corners

As the shorter days signal the coming of winter, there is one essential task to complete in your garden: pruning back your shrubs and trees so they survive the coming cooler days.

Maintaining a garden makes a substantial difference to the value and desirability of your home when the time comes to sell.

Gardens can sway buyers, especially when reducing their short list of desirable properties.

These six tips will prime your garden for next spring and summer. 

Trees and shrubs

Only prune after they've dropped their leaves. It will be an excellent opportunity to reshape the plant if it has become a little unruly. Avoid heavy pruning as this may encourage growth just when it should be falling into dormancy for winter.

Fruit Trees

All pip trees, including apples and pears, should be pruned right now. Try to cut into the trees to open up the centers to improve the amount of air and sunlight that can penetrate. Remove dead and diseased branches. 

Lavender

A wonderful shrub that's everyone's favorite. But it's so easy to kill it when pruning. Only cut the new growth. Never cut it back to the wood. If you're too brutal with lavender, it will not survive.

Roses

A light prune is ideal at this time of year for hybrid tea roses. Again, look for dead or diseased canes. Remove canes that have grown in the wrong direction and will limit sunlight penetrating the plant.

Perennials

Wait until these have died back before getting out your secateurs. Resist the temptation to cut them back too hard, but it is an excellent opportunity to reshape the appearance of many of your flowerbeds.

Evergreens

A light pruning will be ideal for evergreens, and you should remove dead and damaged branches. If you want to cut hard, wait until spring so they have a chance to bounce back in the warmer weather.


Remember that the City Of Calgary encourages composting your yard waste:

Put all yard waste into your green cart for composting, including:

  • Leaves
  • Cones (all conifers - pine, spruce, etc.)
  • Plants and flowers
  • Branches, twigs, hedge prunings - must be less than 15 centimetres in diameter and 1.25 metres in length to fit in the green cart
  • Grass clippings, sod
  • Untreated mulch (including coloured/dyed)
  • Hay
  • Pine needles
  • Tree fruits like crab apples
  • Rhubarb leaves
  • Tree trimmings
  • Moss
  • Special instructions

    Fill your green cart first. If your green cart is full:

    • Place yard waste in paper yard waste bags. Make sure bags are rolled up and can be easily lifted.
    • Set bags at least 0.5 m (2 ft) to the side of your green cart. Do not lean bags on the cart or on top of the cart lid.
    • For larger quantities of yard waste, take to a City landfill for composting. Charges may apply - learn more at calgary.ca/yardwaste​. Note: sod is not accepted for composting at City landfills.​

How to compost yard and garden waste (calgary.ca)

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Latest Blog Posts

June 2024 HOUSING MARKET UPDATE

Posted by Steven Hill on Jul 02, 2024

Sales in June reached 2,738, marking a 13 per cent decline from last year’s record high. Although sales ...

May Housing Market Update

Posted by Steven Hill on Jun 03, 2024

Calgary home sales remain robust despite supply shortages in lower price ranges June 3, 2024 Resilient ...

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