We had a busy March, with the Calgary Real Estate Market remaining competitive. We’ve provided some insights into why we’re in a “seller’s market” and given you a peek into some of our Just Listed and Recently Sold properties. Follow the link below to check out our March newsletter. 👇🏼
Are you looking to move to the Stampede City sometime soon? Here, we’ve shared some things you need to know before moving to Calgary!
So, you’re thinking of planning a big move to Calgary? Whether you’re relocating from Ontario, the West Coast or beyond, it’s always important to do a bit of research ahead of time to ensure that you’re set up for success. Traditionally associated with cowboy culture, Calgary has established itself as a forward-thinking city with a high quality of life, vibrant food and drink scene, growing arts industry and more. In recent years, celebrities like Pedro Pascal and publications such as Condé Nast Traveller have put the city on the map, and we can see why!
As always, we’re acting as your local guides, here to share all the things you need to know before moving to the Stampede City.
The Calgary Housing Market
Currently, the Calgary Real Estate Market can be described as having low supply and high demand, with many factors affecting this. The leading factor is net migration – Calgary has experienced an influx of roughly 80,000 new Calgarians in 2023, and net migration is not slowing down. However, although 80,000 homes have not been built in the last year, we have an abundance of rental properties and a number of leads on some incredible preconstruction projects. Some examples are Sovereign on 17th Avenue, Autumn by AVI and Orson by Truman. Getting in early can save you a lot of stress down the road, and we’re here to guide you in the right direction.
Learn more about the Calgary Housing Market by watching Josh’s State of the Union Address here.
Calgary Tops Many City Rankings
In 2023, YYC was listed among the top 10 cities on The Global Liveability Index by the Economist Intelligence Unit. We also made the Global 100 Ranking of the World’s Best Cities, due to our quality of life, housing affordability and high GDP per capita. The city’s climate commitment is also something that has earned it high praise in the last year. Among other things, Calgary is known to be a friendly, community-based city, often coined “a big city with a small town feel.” Condé Nast Traveler confirmed this with their Readers’ Choice Rankings that labeled Calgary as #1 Friendliest City in the World with a score of 97.86.
Proximity to the Outdoors
Calgary is centrally located between a number of interesting landscapes in all different directions. It’s widely known for its proximity to the Rocky Mountains (a huge draw for travellers), but the city is extremely close to the badlands of Drumheller, foothills of Montana and more. Of course, you can’t pass up a trip to Lake Louise, Jasper or Moraine Lake.
Weather
According to Travel Alberta, YYC boasts 312 days of sun on average, per year. Although the winters can be cold (make sure you invest in a warm parka), the amount of sun is unparalleled. Throw in the frequent chinooks that the city gets throughout the winter, and you’re all set for the winter months.
As you can see, there are a number of benefits that come from living in Alberta, and Calgary more specifically. If you need help with your home purchase as you prep for the future, reach out to us at office@lesliemethot.ca. We’d love to help!
With Calgary’s ever-changing Real Estate Market, many people have been asking us lately, “Should I buy a house now or wait until the latter half of 2024/2025?” We get it. The current economic climate has resulted in a higher cost of living, something we’re all experiencing. However, given that, our simple answer to the burning question is, “Don’t wait.” Strategic buyers are wanting to hold off on purchasing a home until prices and rates decrease, but the reality is that waiting provides no guarantee. For one, with such low supply in housing options across all markets, even if prices did decrease, there’d be more buyers fighting for fewer homes. Additionally, a major consideration is experts are predicting home prices to increase due to relatively tight market conditions persisting into 2024, which will significantly affect your purchasing power moving forward.
When it comes to mortgage rates, the Bank of Canada announced their last update on January 24, where they decided to keep their overnight rate steady to help reduce inflation. You can see on the Bank of Canada website that the rates have stayed steady since July. According to a number of recent forecasts, Calgary home prices are projected to see the most significant increases across all markets in the latter half of 2024, and rates are believed to stay relatively steady from here on out. The next update is set to come out on March 6. If you’re looking at buying a home, keep in mind an approximate 5% rate when home shopping.
As explained previously, moving into the spring Calgary Real Estate Market, we will continue to see low inventory and heightened demand, intensifying the competition. We are already seeing the market become increasingly competitive for single-family detached homes, townhomes, condos and more. Ultimately, delaying your homebuying decision could result in missed opportunity and a heightened sense of competition, haste and anxiety.
Our advice? Waiting longer is not only not a guarantee, but it may make it more difficult to buy a home in the summer. 🤞🏼If you find your dream home now, get on it. Need help? Not sure where to start? We’re here for you. Drop us a note at office@lesliemethot.ca.
If you’ve been following us for a while, then you know that we’re big fans of Heritage Pointe (so much so that Art moved there). It’s a gem of a neighbourhood, equipped with all of the things that you could ever want – a vibrant, supportive community, beautiful homes and lots of space for activities all-year long. Today, we are sharing 5 of the many reasons why we love Heritage Pointe. Check them out. 👇🏼
As Canadians, there’s nothing that feels more homey than a day out skating on the lake, followed by a cup of hot cocoa. Throw in a roaring fire and you’re set for any winter weekend. Standing at 28 acres in size, you’ll never find yourself skating in circles in a crowded outdoor rink. Take a tour of Heritage Pointe homes by ice, all while getting your daily activity in.
Another winter activity that’s always on the agenda in Heritage Pointe is ice fishing. For the last couple of years, we have proudly sponsored the annual HP Ice Fishing Derby, which never fails to bring the community together in a big way. Taking place at the start of each year, the derby is a wonderful way to spend quality time with family and friends while developing your fishing skills.
When LaunchPad first moved into Calgary, it was a big deal. Modeled after Topgolf in the States, LaunchPad finally brought the driving range x bar concept to our city. Heritage Pointe is lucky enough to be the home of the second LaunchPad location, only a four minute drive from the lake. Did we mention the range is open all-year round? With the help of overhead heaters, LaunchPad gives you the ability to practice those swings all-year long.
We’ve done a number of events at The Lake House at Heritage Pointe and each one has been incredible to run. With such a focus on community, the HP homeowners association goes to great lengths to help make events fun and inviting. From Wine and Paint Night, to Tuesday Tea, to Morning Coffee, there’s a little something for everyone here. We recently held our second annual Project Warmth Winter Clothing Drive here and it was a breeze. If you came out to see us, we appreciate you!
You can always check in on what’s happening at The Lake House on their events page.
If you’re into trying new things, Heritage Pointe also hosts bourbon tastings and wine tastings in the community. Instead of having to commit to purchasing a bottle of something new, you can enjoy tasting some new libations in good company. One of our highlights in the community has been our HP Wine Tasting, and lots of attendees loved it too. This is your reminder to keep a lookout for our events on social if you love these kinds of things.
Looking at buying in Heritage Pointe? Reach out to us at office@lesliemethot.ca and we can help guide you in the right direction.
On January 23, The Calgary Real Estate Board (CREB®) released its 2024 Calgary Forecast and the Region Yearly Outlook Report. On the whole, the report dives into the impact of rising lending rates on the housing sector, which has been a topic of discussion for some time now. Although there were higher rates last year, Chief Economist Ann-Marie Lurie states that 2023 was a year of “relatively strong sales thanks to a robust labour market and strong migration.”
Based on Lurie’s predictions, we expect to see another year of strong sales for Calgary’s real estate market. The question is, what factors are contributing to this? Many, which are listed below:
💸 Buyers who were sidelined last year due to limited supply choices will re-enter the market
🚗 Interprovincial migration remains consistent
💪🏼 A healthy labour market continues
In addition, as of January, 24, the Bank of Canada made the decision to hold the interest rate at 5%, continuing a pattern of quantitative tightening. The goal is to ultimately restore price stability for Canadians. Throughout 2024, we will all need to keep an eye on supply, but new home starts and listings should help drive growth. Conditions will not be as tight in 2023, which is a good thing. Progress is on the horizon.
You can view the full economic outlook report here. As always, if you have any questions or are feeling stuck when it comes to a home sale or purchase, reach out to us at office@lesliemethot.ca.
That’s a wrap on 2023! As Calgary Realtors, we navigated a complex, record-breaking year for the market. We met so many amazing clients along the way, from first timers to forever home buyers, upsizers, downsizers, investors, and everything in between.
Every home has a story. While it’s impossible to pick a true favourite, we had many memorable sold properties this year. From a Renfrew condo that sold in just 8 days to a stylish Lake Bonavista bungalow, take a look back with us!
This beautiful Bonavista Downs bungalow sold in December – and with perfect timing! We helped two of our favourite past clients secure a firm sale just in time to close on the purchase of their forever home. After receiving a stylish top-to-bottom reno in 2021, the latest owners poured a lot of love into this home and elevated it even further.
It’s always a pleasure to work with the team at Saville Homes, and this stylish Marda Loop townhouse was no exception. Quality is truly in the details here, from the chef-inspired kitchen to the designer lighting.
Condos like this Renfrew gem are rare. A walk up with a fully fenced yard, open-plan living area, large bedrooms, and a charming patio shaded by large trees. Add in fun and funky touches like that tropical wallpaper, and it’s no surprise that this sold in just 8 days.
There are endless reasons to love Tuxedo Park – it’s a phenomenal location, steps away from many of our favourite local businesses. Located on a quiet street and brimming with luxurious details, this home truly feels like an oasis. Imagine enjoying dinner from Lina’s Italian Market on the oversized kitchen island or a latte from Rosso in the 5-piece ensuite.
Originally built in 2002, this Killarney property received a jaw-dropping renovation in 2021. Beneath its blush pink exterior lies a bright and incredibly chic update with plenty of matte black accents.
With low inventory and high demand, it’s shaping up to be another amazing year for Sellers in Calgary. Thinking about selling your home in 2024? Discover what your home is worth using our Free Home Evaluation Tool. Got questions about the Calgary Real Estate Market in 2024? Give us a call at 403.288.9449 or contact Your Calgary Realtors at office@lesliemethot.ca.
It’s official – the first snowfall of 2023 is behind us and winter in Calgary has arrived. Though temperatures have started to drop, fret not; Calgarians know you can truly experience all four seasons in one day. With a little extra preparation, the winter months can be an excellent opportunity to sell your home. In this blog, we’ll explore some valuable tips to help you sell your home in the winter season in Calgary, maximizing your chances of a profitable and smooth sale.
1. Complete a Pre-Inspection Audit
Before listing your home, we highly recommend checking out our pre-inspection checklist. Buyers often use the home inspection as leverage to negotiate a lower price. Knowing what to look for and addressing issues early on can save you time, money, and ultimately, your deal.
2. Price Strategically
Winter months can bring fewer listings to the market, making it a potentially less competitive time to sell. However, with a smaller pool of buyers, it’s important to position and price your home competitively. Our team uses advanced real estate software to develop a data-driven, strategic plan to sell your home based on the current market conditions.
3. Declutter and Stage Your Home
Staging is a critical component in all seasons – that’s why we’ve partnered with Staged by Tara to offer all of our sellers a complimentary staging consultation. Her top tips? Keep your decor simple and uncluttered to maximize space and allow buyers to envision your space as their future home. Create a cozy, inviting ambiance and ensure your home is warm and well-lit during showings. Use soft lighting, such as table lamps, and strategically place cozy blankets and throws to showcase the home’s comfort and warmth.
4. Photograph Strategically
With more buyers seeking out properties online, professional photography is a non-negotiable. Make a strong first impression on potential buyers with high quality photos and videos of your home. We work with the team at Zoon Media, who work to capture the beauty of your property through strategic framing, lighting and photo finishing. When we do walkthrough, we always make sure to highlight the unique features of your home, like a cozy fireplace or a well-designed kitchen, to draw buyers’ attention.
Selling your home in winter in Calgary requires thoughtful planning and a few strategic adjustments. By working with an experienced team, like Art Leslie and Josh Methot, your home can stand out in the market, increasing your chances of a smooth and profitable sale during the winter season.
Assignment sales of condos in Alberta refer to the process of purchasing a pre-construction or under-construction condo unit from the original purchaser (assignor) before the property is completed. The new buyer (assignee) essentially takes over the original contract and assumes the rights and obligations associated with it. Are often shared within a network of real estate professionals and potential buyers, providing a sense of exclusivity. This can lead to discovering properties that haven’t hit the mainstream market yet.
Begin by connecting with a real estate expert who specializes in assignment sales, like us! We will guide you through the steps, including assessing the property’s potential, reviewing the assignment agreement, and facilitating the transaction.
Assignment sales are open to a range of buyers, from first-time investors to seasoned buyers. However, understanding the process and potential risks associated with purchasing an assignment property is essential. Consulting with experienced real estate professionals can provide valuable insights.
Assignment sales can be a viable option for second homes or vacation properties in Alberta. However, it’s crucial to consider the specific location, market conditions, and your investment goals when evaluating these opportunities.
To discover assignment sales that align with your preferences, reach out to our team! As a Calgary real estate team with a combined 20 years of experience in a wide range of transactions, Art and Josh are experienced in assignment transactions. Contact us to identify properties that match your criteria and navigate the assignment process in a seamless, professional, and efficient manner.
Attention Calgary Townhome owners – the time is now to capitalize on the thriving Summer real estate market. With the average Townhome selling in just 20 days, there has never been a better moment to explore the opportunities of these house-condo hybrids. Whether you’re a buyer or seller, we’re here to provide expert advice and help you navigate Townhome season effectively.
Now is the time for Calgary Townhome owners to seize the moment and make the most of the real estate market. With Townhomes selling at a rapid pace, buyers can find their dream homes, while sellers have the advantage of being in a power position. By following our expert advice and utilizing proven strategies, you can navigate the Townhome segment with confidence. Whether you’re buying or selling, success awaits in this lucrative market! Let’s get in touch – email us at office@lesliemethot.ca to discuss all things Townhomes.
While we love spring and the warm weather that it brings, there are a number of things that homeowners have to do to prepare for the change in season. With the snow slowly disappearing, we are left with lots of brown yards, making it difficult for your home to look good.
When buyers pull up to your home, this is your first opportunity to make a great impression. Curb appeal matters! Here are our top tips for ensuring that your home presents nicely.
While you work on tackling these items, take a moment to check out our blog section as well for more tips, market insights and more. Happy spring cleaning!
