February 2024

CALGARY LUXURY MARKET OUTPACES LARGER MARKETS

Posted on Feb 22, 2024 in Real Estate News



Calgary seems to be the star of the show these days when it comes to real estate trends and records, and the luxury homes market is no different with Calgary coming out on top in 2023! While other major city centres, such as Toronto, saw a decline in luxury home sales, and Canada as a whole plateaued, Calgary soared. Luxury home sales over $1-milli...

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THE SCOOP ON ADDING A NEW LEGAL SUITE

Posted on Feb 21, 2024 in For Homeowners



Here's the scoop. The popularity of adding a legal secondary suite has risen dramatically in Calgary over the last few years. Why? 

Demand for rentals in Calgary is sky high. A huge influx of people into our city looking to rent, along with existing demand from current inhabitants has meant demand for rentals has outpaced supply, and rents have been...

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PROPOSED BLANKET REZONING: WHAT IT ALL MEANS

Posted on Feb 21, 2024 in Real Estate News



In Autumn 2023, Edmonton passed huge residential zoning changes, leading many Calgarians to believe a similar bylaw would likely be passed in Calgary. As expected, it didn't take long for one to be proposed before Calgary City Council, and residents have a lot of polarizing opinions on the matter. It would mean a lot of changes for our city if this...

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CALGARY VACANCY RATES ARE PLUMMETING

Posted on Feb 19, 2024 in Real Estate News



Reports of vacancy rates plummeting in Calgary have been flooding the local news in recent days, informing us that local rental rates are now officially on par with Toronto. The average rent for a two-bedroom apartment has reached nearly $1,700, a rate increase of 14%, and a vacancy rate of 1.4%. These are growth numbers not seen since 2007, accord...

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FEBRUARY 2024 MARKET UPDATE

Posted on Feb 01, 2024 in Market Updates



January sales rose to 1,650 units, a significant gain over last year's levels and long-term trends. The growth was possible thanks to a rise in new listings totalling 2,137 units in January. New listings rose for homes priced above $300,000, but the largest gains occurred for homes priced above $700,000.

The rise in new listings relative to sales di...

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