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UNCERTAINTY Weighs on the Calgary Real Estate Market

WELCOME TO SPRING! Hoping everyone is enjoying the nice weather we've been having in Calgary this week - lots to do around town!

As we step into the notoriously busy real estate season, CREB issued their monthly market update for MARCH... 

Key theme over the last three months has been, and continues to be ongoing economic uncertainty weighing on consumer confidence, ultimately impacting the housing activity last month, seeing a 19% decline of sales (YoY). The silver lining here are that prices have stabilized, with less pressure to the upside providing some variety to buyers who have been sitting on the sidelines. Not to mention, rates are also expected to come down FURTHER, with the next BoC meeting on interest rates scheduled for April 16, 2025

It's no surprise, HOWEVER, important to note that sales still remain stronger than during the oil price downturn in 2015-2020; summary below:

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CREB Economist Discussion Summary

We had the pleasure of hosting Ann-Marie Lurie, Chief Economist at the Calgary Real Estate Board at our offices on Monday to chat about 1) what's happened so far this year for Calgary real estate, and 2) what we can expect for the remainder of the year. I've included some interesting notes below for your consumption, but please reach out if you have any questions!

#1 – Inventories in Calgary continue to rise: yet we're still below the long-term average of 4,672 units for sale and is a dramatic increase in inventories since last year (+76% YoY).

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#2 – Prices have seen an extraordinary increase over the last few years, and we're now starting to see a slowdown in growth (which is healthy for the overall market). Notable, we're seeing the biggest shift in the Apartment sector, where there is increased inventory.

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#3 – Detached homes sales have SLOWED, but largely due to limited supply under $700K. Prices have somewhat stabilized after the past 3 years after seeing a ~23% increase.

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#4 – Location matters for real estate with the tightest part of the detached homes market being properties in the South priced between $500-600K, and the opposite with a lot of inventory in the NE in ranges between $700-800K. 

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#5 – What's in store for 2025, you may ask?? Well - there's one thing for sure, and that is uncertainty. Business investment slows when there is uncertainty, particularly around tariffs (on what, for how long, how much?), and the outcome of the Canadian federal election.. 

For certain, we can expect slower migration rates compared to the last few years, and increasing housing supply as new builds come onto the market. But, the market will ebb and flow as it always has. So long as you're aware of the impacts and trends, and armed with good information and advice, that's the best we can do!

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New property listed in Brentwood, Calgary

I have listed a new property at 5654 Brenner CRESCENT NW in Calgary. See details here

THIS HOME IS PRICED TO SELL!! Charming Family Bungalow in Brentwood | Timeless Curb Appeal | Mid-Century Style | Unbeatable Location | Quiet Cul-de-Sac | Views of Nose Hill Park | Welcome to 5654 Brenner Crescent in desirable Brentwood Heights! This well-maintained home with classic curb appeal is nestled in the tree-lined streets of Brenner Crescent featuring ~2,300 sqft of living space on a ~6,300 sqft lot. From the street, you're greeted with a LARGE FRONT YARD and MATURE TREES, a great GATHERING PLACE for friends and neighbours. Brick & stucco exterior. Upon entry, you’re greeted with a spacious living room with a rare statement BRICK-FACED WOOD BURNING FIREPLACE with accent lighting for those warm evenings at home. The bright living room opens up to the dining room for family gatherings with convenient ORIGINAL BUILT-INS for functional yet stylish storage. Next to the dining room is a functional kitchen (wood cabinets, easy to clean laminate flooring), with space for a SMALL BREAKFAST NOOK and TWO spacious pantries for plenty of storage. Down the bedroom hallway, you’ll find a full bathroom, and 3 spacious bedrooms – the primary includes a simple ENSUITE. Downstairs, you’ll find a WORKSHOP for home hobbies (can be converted to a fifth bedroom), another bedroom (used as a GYM currently), a cold storage space, a full bathroom with a glass stand-up shower, utility / laundry room, and a COZY REC ROOM featuring MID-CENTURY VIBES – wood panelling, wet whisky bar, soft accent lighting, perfect for those movie nights in! The spacious SE FACING BACKYARD features plenty of SUNLIGHT with terrace gardens and apple trees, TWO smaller lawns with mulch LANDSCAPING, and a CEMENT PATIO for BONFIRES & OUTDOOR COOKING. Views of NOSE HILL seen through the back of the home and from the back yard! An OVERSIZED single garage with built-in storage inside and behind, is back lane accessible. The fence was UPDATED just last year. Upgrades to the home include a newer high efficiency LENNOX FURNACE, VINYL windows throughout the main floor, minor bathroom upgrades, SHINGLES were replaced in 2020. The home is outfitted for central vac. The location of this home is UNDERSTATED – located on a QUIET cul-de-sac, close to plenty of SCHOOLS (Sir Winston Churchill, Simon Fraser, Capital John Palliser, Dr. EW Coffin, St. John Brebeuf), Market Mall & University District (6-8 mins), Foothills Hospital, AB Children’s Hospital, Downtown Calgary (13-15 mins), YYC International Airport (20 mins) and a 15 min WALK to Nose Hill Park. Incredible value at this price, and a RARE offering in Brentwood Heights! Home has been METICULOUSLY MAINTAINED with proud owners. Book a showing today!

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New property listed in Mount Pleasant, Calgary

I have listed a new property at 617 19 AVENUE NW in Calgary. See details here

IMMACULATE CUSTOM DESIGNER INFILL IN MOUNT PLEASANT | CONTEMPORARY LUXURY HOME | DESIGNED BY PAUL LAVOIE GROUP AND PHASE ONE DESIGNS | SECOND FLOOR FAMILY ROOM | Welcome to 617 19th Avenue NW. This stunning custom home is located on a tree-lined avenue in NW Mount Pleasant. A RARE 30' wide lot maximizes living space, providing ~2,300 SQFT above grade and ~3,500 SQFT total livable. Exterior is brick veneer, stucco and aluminium siding. If you're looking to live inner city, on a quiet road, wider lot with a custom detached home, this is it. Tasteful design elements throughout the home such as hardwood floors, extended-to-ceiling solid maple wood cabinets, high-end European appliance package (Fisher & Paykel), 11" long island encased with quartz waterfall countertops, built-in refrigerator, built-in oven , built-in dishwasher, built-in microwave... The open kitchen leads you to a sunny south-facing living room with dual sliding patio doors and aggregate patio for your entertaining needs. The high-end dynamic venting Napoleon gas fireplace frames the living room. The hidden mudroom is oversized for all your storage dreams. Open-riser solid oak and glass stairs with inset LED lighting lead upstairs to the second-storey FAMILY ROOM! The skylight and extra window brings in natural bright light to the open area. Laundry room comes with plenty of storage, countertops and a sink. Two separate bedrooms flank the front of the home, with each their own custom closet built-ins. Main bath is functional, with a stand up glass shower. The primary bedroom features plenty of windows (south and east) keeping it bright and airy. Oversized walk-in closet with LED rail lighting makes this feel like a designer store. The primary ensuite shows off a large soaker tub with a privacy window (for those day-time baths), dual vanities (mirrors to the ceiling), and a large stand-up glass steam shower, and water closet. Can't forget about the heated tile flooring. In the basement, you'll find a large wet-bar with a wine fridge and plenty of storage and display. The family room is perfect for movie nights in, ready to make your home theatre dreams come true. A custom wine storage rack with accent LED lighting tucked in the back to store your gems. Insane amounts of storage space in the utility room, another rarity in an infill home. This home is roughed-in for radiant in-floor heating in the basement and A/C. The backyard features a small lawn and large aggregate patio. BBQ gas line comes from the home. Double car garage with a window, privately fenced! Come check out not only one of Calgary's most desirable inner-city neighbourhoods, but a gorgeous custom built home! Conveniently located without the traffic and noise, with beautiful touching tree canopies on the street. The condition of this home is basically new. Owners have only lived here a short time, tried and tested – without the kinks of buying new-build, now ready for it's new owner (YOU!).

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Open House. Open House on Thursday, May 29, 2025 4:00PM - 6:00PM

Please visit our Open House at 5654 Brenner CRESCENT NW in Calgary. See details here

Open House on Thursday, May 29, 2025 4:00PM - 6:00PM

Charming Family Bungalow in Brentwood | Timeless Curb Appeal | Mid-Century Style | Unbeatable Location | Quiet Cul-de-Sac | Views of Nose Hill Park | Welcome to 5654 Brenner Crescent in desirable Brentwood Heights! This well-maintained home with classic curb appeal is nestled in the tree-lined streets of Brenner Crescent featuring ~2,300 sqft of living space on a ~6,300 sqft lot. From the street, you're greeted with a LARGE FRONT YARD and MATURE TREES, a great GATHERING PLACE for friends and neighbours. Brick & stucco exterior. Upon entry, you’re greeted with a spacious living room with a rare statement BRICK-FACED WOOD BURNING FIREPLACE with accent lighting for those warm evenings at home. The bright living room opens up to the dining room for family gatherings with convenient ORIGINAL BUILT-INS for functional yet stylish storage. Next to the dining room is a functional kitchen (wood cabinets, easy to clean laminate flooring), with space for a SMALL BREAKFAST NOOK and TWO spacious pantries for plenty of storage. Down the bedroom hallway, you’ll find a full bathroom, and 3 spacious bedrooms – the primary includes a simple ENSUITE. Downstairs, you’ll find a WORKSHOP for home hobbies (can be converted to a fifth bedroom), another bedroom (used as a GYM currently), a cold storage space, a full bathroom with a glass stand-up shower, utility / laundry room, and a COZY REC ROOM featuring MID-CENTURY VIBES – wood panelling, wet whisky bar, soft accent lighting, perfect for those movie nights in! The spacious SE FACING BACKYARD features plenty of SUNLIGHT with terrace gardens and apple trees, TWO smaller lawns with mulch LANDSCAPING, and a CEMENT PATIO for BONFIRES & OUTDOOR COOKING. Views of NOSE HILL seen through the back of the home and from the back yard! An OVERSIZED single garage with built-in storage inside and behind, is back lane accessible. The fence was UPDATED just last year. Upgrades to the home include a newer high efficiency LENNOX FURNACE, VINYL windows throughout the main floor, minor bathroom upgrades, SHINGLES were replaced in 2020. The home is outfitted for central vac. The location of this home is UNDERSTATED – located on a QUIET cul-de-sac, close to plenty of SCHOOLS (Sir Winston Churchill, Simon Fraser, Capital John Palliser, Dr. EW Coffin, St. John Brebeuf), Market Mall & University District (6-8 mins), Foothills Hospital, AB Children’s Hospital, Downtown Calgary (13-15 mins), YYC International Airport (20 mins) and a 15 min WALK to Nose Hill Park. Incredible value at this price, and a RARE offering in Brentwood Heights! Home has been METICULOUSLY MAINTAINED with proud owners. Book a showing today!

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New property listed in Brentwood, Calgary

I have listed a new property at 5654 Brenner CRESCENT NW in Calgary. See details here

Charming Family Bungalow in Brentwood | Timeless Curb Appeal | Mid-Century Style | Unbeatable Location | Quiet Cul-de-Sac | Views of Nose Hill Park | Welcome to 5654 Brenner Crescent in desirable Brentwood Heights! This well-maintained home with classic curb appeal is nestled in the tree-lined streets of Brenner Crescent featuring ~2,300 sqft of living space on a ~6,300 sqft lot. From the street, you're greeted with a LARGE FRONT YARD and MATURE TREES, a great GATHERING PLACE for friends and neighbours. Brick & stucco exterior. Upon entry, you’re greeted with a spacious living room with a rare statement BRICK-FACED WOOD BURNING FIREPLACE with accent lighting for those warm evenings at home. The bright living room opens up to the dining room for family gatherings with convenient ORIGINAL BUILT-INS for functional yet stylish storage. Next to the dining room is a functional kitchen (wood cabinets, easy to clean laminate flooring), with space for a SMALL BREAKFAST NOOK and TWO spacious pantries for plenty of storage. Down the bedroom hallway, you’ll find a full bathroom, and 3 spacious bedrooms – the primary includes a simple ENSUITE. Downstairs, you’ll find a WORKSHOP for home hobbies (can be converted to a fifth bedroom), another bedroom (used as a GYM currently), a cold storage space, a full bathroom with a glass stand-up shower, utility / laundry room, and a COZY REC ROOM featuring MID-CENTURY VIBES – wood panelling, wet whisky bar, soft accent lighting, perfect for those movie nights in! The spacious SE FACING BACKYARD features plenty of SUNLIGHT with terrace gardens and apple trees, TWO smaller lawns with mulch LANDSCAPING, and a CEMENT PATIO for BONFIRES & OUTDOOR COOKING. Views of NOSE HILL seen through the back of the home and from the back yard! An OVERSIZED single garage with built-in storage inside and behind, is back lane accessible. The fence was UPDATED just last year. Upgrades to the home include a newer high efficiency LENNOX FURNACE, VINYL windows throughout the main floor, minor bathroom upgrades, SHINGLES were replaced in 2020. The home is outfitted for central vac. The location of this home is UNDERSTATED – located on a QUIET cul-de-sac, close to plenty of SCHOOLS (Sir Winston Churchill, Simon Fraser, Capital John Palliser, Dr. EW Coffin, St. John Brebeuf), Market Mall & University District (6-8 mins), Foothills Hospital, AB Children’s Hospital, Downtown Calgary (13-15 mins), YYC International Airport (20 mins) and a 15 min WALK to Nose Hill Park. Incredible value at this price, and a RARE offering in Brentwood Heights! Home has been METICULOUSLY MAINTAINED with proud owners. Book a showing today!

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New property listed in Skyview Ranch, Calgary

I have listed a new property at 2304 181 Skyview Ranch MANOR NE in Calgary. See details here

PERFECT FOR FIRST TIME BUYERS OR INVESTORS | OUTSTANDING LOCATION | FACES COMMUNITY & LOTS OF NATURAL SUNLIGHT | LOW CONDO FEES | Discover contemporary living in this stylish 1-bedroom, 1-bathroom condo located in the vibrant community of Skyview Ranch. Designed for comfort and convenience, this unit features an open-concept layout with large windows, allowing for plenty of natural light. Includes 1 titled parking to an underground HEATED and secured parking garage, across from the bike storage. Not only that, but the complex also includes access to a full-sized gym and owners lounge at the clubhouse. With visitor parking out front, this makes for easy entertaining in a quiet livable complex. The modern kitchen boasts sleek stainless steel appliances, quartz countertops, and ample cabinet space, perfect for home cooks and entertainers alike. The spacious bedroom includes a large closet, while the well-appointed bathroom offers elegant finishes. Portable AC unit is also staying with the property! Enjoy the convenience of in-suite laundry in the large storage room, a private balcony with BBQ hookup, and heated underground parking. Located in a well-maintained building, this condo offers easy access to schools, parks, shopping, public transit, and major roadways like Stoney Trail and Deerfoot Trail! Book your private showing TODAY!

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New property listed in Dalhousie, Calgary

I have listed a new property at 310 5204 Dalton DRIVE NW in Calgary. See details here

UNBEATABLE LOCATION | ALL UTILITIES IN CONDO FEE | GREAT AMENITIES | UPGRADED UNIT | Welcome to Vista View - an outstanding condominium building in the heart of Dalhousie in Central NW Calgary. This is a PRIME location, minutes walk from Dalhousie LRT station, bus loops and close to schools (University of Calgary), playgrounds, plethora of shopping (Co-op, Canadian Tire, Northland Mall, Dalhousie Shops, Market Mall, University District), Foothill Hospital, Alberta Children's Hospital and outdoor activities. Building is BRICK & CONCRETE. All utilities are included in the condo fees (heat, water, trash, electricity). A LARGE one-bedroom unit >600 SQFT, and renovated with LVP flooring, and dual bathroom vanities. An open kitchen provides openness to the living space. Massive balcony if you like outdoor living as well. Incredible amenities with the building, including weight room, sauna, games room, library, tennis courts, visitor parking, and ONE SECURE UNDERGROUND HEATED PARKING STALL! Book your showing today! Easy to rent out given this high demand area!

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New property listed in Varsity, Calgary

I have listed a new property at 103 3111 34 AVENUE NW in Calgary. See details here

UNBEATABLE LOCATION | CLOSE TO UNIVERSITY OF CALGARY, FOOTHILLS HOSPITAL, MARKET MALL, UNIVERSITY DISTRICT | GREAT VALUE IN VARSITY | Welcome to 3111 Varsity – an outstanding opportunity to own a 1-bed 1-bath studio apartment in Varsity. This is PRIME location, with just a few steps away from the University of Calgary, Brentwood LRT and Bus Loop, Market Mall, University District, Foothills Hospital and Alberta Children's Hospital, Brentwood Village Shops, the amenities are abundant. There will always be demand for a great location like this. Outdoors, Nose Hill Park is a short commute away and within walking distance, with plenty of parks and playgrounds around the neighbourhood. The unit is located on the ground floor, with easy access to the unit which faces a secure and quiet street in front (very limited traffic). 9-foot ceilings, bright windows, a clean and functional kitchen with plenty of storage, in-unit laundry and sizeable balcony space for outdoor living, even with a natural gas BBQ hookup. This is a must-see property, great for a first time buyer or investor looking for long-term value and a resilient investment. This property also comes with TITLED secured heated underground parking and TITLED storage unit. Book your showing TODAY!

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New property listed in Tuxedo Park, Calgary

I have listed a new property at 206 25 AVENUE NE in Calgary. See details here

WALK-OUT BASEMENT INNER CITY LIVING AT ITS FINEST! | LOW MAINTENANCE LANDSCAPING | MOVE-IN READY! | LUXURY FEATURES | Welcome to 206 25 Ave in the heart of TUXEDO PARK! This wonderfully appointed home features >2,500 sqft of living space in an open floor plan with 4 bedrooms and 3.5 bathrooms. HARDWOOD FLOORS throughout the main, carpeted upper, and CORK flooring easy on the feet in the walkout basement. The front living room is framed with a stone gas-burning fireplace with a SOLID WOOD mantle for wonderful evening conversations over a glass of wine. Tucked behind the entryway wall is the PRIVATE dining room, and a chef's kitchen at the rear of the home. This kitchen is PERFECT for entertaining and cooking up a feast around the long island, gas stove, accent tiled backsplash, solid wood cabinetry, and stainless steel appliances. A QUIET READING SPACE is tucked behind the kitchen, providing privacy for that morning coffee off the back patio overlooking the yard. Upstairs, you're greeted with THREE bedrooms and a main bath. The GENEROUS primary bedroom features HIS and HERS closet spaces, PLENTY of windows, and a lead into the spa-like en-suite. A standing shower, jetted tub, make-up counter and vanity with built-in storage ties it all together for an inviting space you'll never want to leave! The basement features the final bedroom and a renovated bathroom with custom niche and tiled walls. The mechanical room doubles as a hobby / workbench area with plenty of room for storage, water heater was UPDATED IN 2022. Open to the WALKOUT, the living area for the FAMILY TO GATHER around for movie nights in or to watch that Sunday football game! Easy access to the garage from there. LOW MAINTENANCE LANDSCAPING surrounds the entire property, and backyard features COBBLESTONE PATIO for a fire pit. The garage is extremely well-maintained, outfitted with shelving units ready to go! This home is MOVE-IN READY for the summer, and is located in the coveted inner-city neighborhood of Tuxedo Park. Playgrounds, parks, a short walk from Confederation Park, the Winston Golf Club, with easy access onto Deerfoot Trail, 16th Avenue, Centre Street and Edmonton Trail! BOOK YOUR PRIVATE SHOWING TODAY!

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SURPRISE Inflation BUMP & Interest Rate Commentary

Yesterday the Statistics Canada announced a surprising INCREASE to inflation figures for February at 2.6% (up from 1.9% in January), yikes. 

The increase came as federal government's temporary tax break (GST/HST Holiday) came to an end mid-February. Not only that, but actual figures came as a surprise to many economists, which called for a 2.2% increase. 

Without a doubt, the Bank of Canada has a tough job ahead of them – given the political run-around regarding U.S. Tariffs, and a hotter than expected inflation landscape. 

Last week, the BoC trimmed rates by 25 bps, now with a policy interest rate of 2.6%.

Here's where we stand now with regards to home prices, CPI and rates:

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The next key date for the BoC: April 16, 2025

Macklem noted last week the central bank cannot fully offset the hit to Canada's economy from steep tariffs and will focus on how inflation reacts to pressures of a prolonged trade war. Expectations are that inflation will continue to rise, fuelled by tariffs.

All eyes are set on how the tariff situation unfolds in early April, while financial markets are pricing in a ~62% chance the BoC will hold rates steady. It's really a toss up at the moment of what will happen. 

As always, I'll keep you up to date on the macro front with a Calgary focus, on real estate. Reach out if you have any questions at all!

As always, we're looking for inventory so if you're thinking about selling your home, please reach out and we'll schedule a call to see how we can help!

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New property listed in Haysboro, Calgary

I have listed a new property at 902 8880 Horton ROAD SW in Calgary. See details here

Welcome home to LONDON at Heritage! Your incredible opportunity to own one of the most conveniently located condominiums in south Calgary, with an abundance of features and surrounding amenities. This one-bed, plus den and ensuite laundry condo unit is perfect for a first time buyer or investor looking to position themselves outside of the downtown core, but with the ease of access located right on McLeod Trail or a few minutes walk away from the pedestrian overpass to the Heritage LRT Station. This well-appointed suite features unobstructed south-facing views with an open concept layout that includes a functional office/den, large windows beaming in plenty of sunlight across the whole unit, a sizeable bedroom with inset ceiling pot lights, 4-piece bathroom, a large kitchen island with ample granite countertop space, wood cabinets that includes deep drawers, oversized floor-to-ceiling front entrance mirror and ensuite laundry. UPGRADES have also been made to this condo unit including the installation of a Rinnai combination boiler and hot water system (unlike many of the original discontinued Baxi units in the building - giving you piece of mind for years to come), and a BUILT-IN A/C unit for those warm summer days. The balcony also features a natural gas BBQ outlet! This property is attached to a plethora of shopping / restaurant / personal care amenities for your convenience and has direct entry into Save-On-Foods through the shared parking garage without having to go outside! Don't forget secured bike storage and 17th floor sunroom with a rooftop terrace for entertaining out of unit on those warm summer evenings! Parking for residents is located in the heated and secured parking garage. With so many parks, schools and amenities nearby, plus the convenience of being close to key travel corridors, this property is perfect for those on the go. Book your private showing today and see what London at Heritage can offer you TODAY!

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