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I have sold a property at 5035 Trelle DRIVE NE in Calgary

I have sold a property at 5035 Trelle DRIVE NE in Calgary on Jan 15, 2024. See details here

UNBEATABLE LOCATION | FRONT AND BACK GREEN SPACE | ILLEGAL BASEMENT SUITE AWAITING APPROVAL | CITY VIEWS FROM THE HILL | INCREDIBLE INVESTMENT OPPORTUNITY | Welcome to 5035 Trelle Drive – Centrally located right off McKnight Blvd and Edmonton Trail, this is an unbeatable location in the heart of the NW / NE, with key transportation corridors just minutes away. This >5,000 rectangular lot is situated on a hill with city views, while facing green space BOTH FRONT AND BACK! The backyard faces Thorncliffe Park, adjacent to the Thorncliffe Community Centre. The property gets better as you walk into the NEWLY RENOVATED / REMODELLED DETACHED BUNGALOW, there are THREE bedrooms and TWO full bathrooms upstairs, an OPEN CONCEPT layout featuring VAULTED ceilings throughout (even in the bedrooms!). All windows have been replaced with large double-pane vinyl windows, letting sunlight into the clean and airy space. Neutral yet modern finishes (white quartz counters, black hardware, clean white cabinets), waiting for you to add your finishing touches. Stepping into the basement from the EXTERIOR BACK ENTRANCE is a fully remodelled illegal BASEMENT SUITE (currently undergoing City of Calgary approval), with THREE BEDROOMS and ONE FULL bathroom, plus laundry (and extra storage!). The backyard features a sizeable deck off the home, spanning the width of the house along with an enormous, attached storage shed. The yard has enough space to build a garage to your liking (option to have seller build a 20x20 unfinished detached garage for $25K) or a parking pad, with back-alley access for convenience. You won't want to miss this incredible property! Great for first-time homebuyers or investors alike. Cash flow from day one, or live up and rent down as a mortgage helper, either option is fantastic, with a great location, and beautifully finished modern home!

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I have sold a property at 1407 3820 Brentwood ROAD NW in Calgary

I have sold a property at 1407 3820 Brentwood ROAD NW in Calgary on Dec 12, 2023. See details here

Great Investment Opportunity | Fantastic Location | Convenience | Close to LRT, Shopping & UofC; A great turnkey investment opportunity here in the University City complex. Situated on the 14th floor, north west facing with an UNOBSTRUCTED VIEW of the mountains and a QUIET LOCATION, this is a wonderful two-bedroom one-bath apartment with TITLED UNDERGROUND PARKING. Upgraded with granite countertops, stainless steel appliances, covered IN-UNIT washer / dryer in the OPEN FLOORPLAN home, this is also great as your first home! On-site recreational facilities, visitor parking, and loads of shopping and restaurants nearby. A short walk from the Brentwood Bus and Train Station and the University of Calgary, this highly desirable location won't last long. Book a showing today!

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I have sold a property at 56 23 Glamis DRIVE SW in Calgary

I have sold a property at 56 23 Glamis DRIVE SW in Calgary on Jan 2, 2024. See details here

DON’T MISS OUT ON THIS ONE! Impressive townhouse unit with attached single garage in the community of Glamorgan, SW Calgary. The house offers a total living space of more than 1,500 square feet, 3 bedrooms, quarts countertop kitchen, newer high efficiency furnace, newly updated two and a half washrooms which includes a 4 piece ensuite and a heated garage. As you enter, you will be greeted with an ample size and high ceiling living room for your family and visitors to gather and relax. From the living room there is an easy access to the deck for relaxation and BBQ. The property is located nearby a bus stop, shopping centre and amenities, close to parks, minutes to downtown and Mount Royal University.

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I have sold a property at 136 Hounslow DRIVE in Calgary

I have sold a property at 136 Hounslow DRIVE in Calgary on Dec 22, 2023. See details here

Nestled in the sought after NW community of Highwood on a quiet street, welcome to your BRAND NEW home on Hounslow Drive! Featuring 4 bedrooms, 3.5 bathrooms, an open concept two-storey infill, this home is close to multiple schools, parks (Nose Hill, Confederation), green spaces, local shopping districts and close proximity to main transportation corridors for ease of access (14th Street, 4th Street, John Laurie, McKnight) and proximity to downtown! The kitchen features built-in Samsung appliances, accent lighting details, a large waterfall island with crisp quartz countertops, undermount lighting beneath cabinets, hidden hood fan ventilation and unique display cabinets built in. In the living room, you'll find space to entertain around the gas fireplace and a sunny private SE facing backyard next to the double detached garage. Upstairs features three bedrooms, with the primary bedroom showcasing a large walk-in closet, a primary ensuite with a soaker tub, a large step-in glass shower, and double vanities. A full laundry room with a sink, and the 4-piece main bathroom complete the second storey. In the basement, you'll find floating shelves above the wet bar, and entertainment built-ins, with the extra bedroom and another 4-piece bath. New home warranty included. Perfect for individuals or families who want to be close to downtown, but also have an active lifestyle who enjoy being close to parks, various amenities, and convenience! Don't miss your chance on this one - BOOK YOUR SHOWING TODAY!

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I have sold a property at 110 Rockbluff CLOSE NW in Calgary

I have sold a property at 110 Rockbluff CLOSE NW in Calgary on Nov 18, 2023. See details here

Welcome to your dream home in the highly sought-after community of Rocky Ridge, Calgary, where opportunities are as rare as the mountain views. Situated in a family-friendly neighborhood with low inventory, this 4-bedroom, 3.5-bathroom gem offers the perfect blend of beauty and practicality. ?As you step through the front door, you're greeted by the elegance of sprawling ceilings and an open-concept design that seamlessly connects each living space. The main floor boasts a front sitting room, while the south-facing living room bathes in natural light, creating a warm and inviting atmosphere to gather with family and friends. The heart of this home lies in its updated main floor featuring exquisite granite countertops and a convenient walk-through pantry. Entertain effortlessly in the spacious living room or take the celebration outdoors through the door to the 27' composite deck. With a south facing, pie-shaped yard this home invites you to enjoy stunning mountain views while you soak up the sun. Upstairs, discover three generously sized bedrooms, each offering comfort and tranquility. The primary suite is a true retreat, complete with an ensuite featuring a double sink vanity, a large walk-in glass shower, and a jetted tub—your private oasis to unwind after a long day. The walkout basement adds versatility to the property, featuring large windows that flood the space with natural light. A full bathroom and an additional bedroom make this area perfect for guests, a home office, or a recreation room. With direct access to the backyard, the basement seamlessly extends your living space. Convenience is key with this property, as it is in close proximity to schools, parks, the LRT, and major freeways. Whether you're commuting to work or exploring the nearby mountains, this location provides easy access to all your daily needs. Don't miss this rare opportunity to own a piece of Rocky Ridge paradise. Schedule your viewing today and make this stunning residence your forever home.

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I have sold a property at 2123 24 AVENUE NW in Calgary

I have sold a property at 2123 24 AVENUE NW in Calgary on Dec 23, 2023. See details here

A rare find with this massive lot size: 60 ft. x 145 ft. in Banff Trail with R-C2 Zoning – a perfect family home. Original bungalow with an addition built in 1988 with permits, turning it into a lovely two-storey home with over 2,880 SQFT above grade, PLUS 1,190 SQFT in the basement! Highlights: SEVEN bedrooms, THREE FULL bathrooms, a freshly painted interior, brand-new luxurious vinyl plank (LVP) flooring in the front and back entrance, a gorgeous and practical kitchen with PLENTY of storage, and the 5-piece bathroom in the upper level. Gleaming original hardwood can be found throughout the main level in both bedrooms, hidden under the carpet in the airy living room & the hallway. The south-facing sunken family room has a classic wood burning fireplace, and patio door access to the HUGE private deck for all your entertaining needs. The main level hosts two good-sized bedrooms and an updated  4-piece bathroom for convenience. The upper level opens up to skylight, boasting three large bedrooms (two of which overlook the south facing private backyard) and a 5-piece bathroom. The fully developed basement includes an illegal suite with two bedrooms, a 4-piece bathroom, a full kitchen, a family room, a recreational room, and a large cold storage with additional storage under the stairways! Very desirable in today’s hot rental market and a mortgage helper! Parking is a breeze, with a double attached front and back garage, with a long front driveway. Close to all desirable amenities, a short walk to the U of C campus, public transit bus stops, LRT station, shops, & all level of schools, only a few minutes away to Foothills Hospital and Alberta Children's Hospital, with an easy commute downtown. Excellent value in this location with a lot size, book your showing TODAY!

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I have sold a property at 5644 Dalrymple HILL NW in Calgary

I have sold a property at 5644 Dalrymple HILL NW in Calgary on Oct 6, 2023. See details here

• OVERSIZED BUNGALOW • AMAZING LOCATION • HEATED DOUBLE ATTACHED GARAGE • LARGE PRIVATE SOUTH BACKYARD • We are delighted to introduce 5644 Dalrymple Hill NW, a move-in ready bungalow nestled in the desirable Dalhousie community in the NW. A spacious rectangular lot spanning over 7,200 square feet is home to this remarkable property. An ideal location with easy access to parks and pathways, this spacious home features a sunny southwest orientation and a generous backyard, perfect for gatherings. The bungalow itself is nothing short of extraordinary, boasting a generous 2,442 square feet of fully developed living space (comprising 1,366 sq ft above grade and 1,076 sq ft below grade). This home boasts four bedrooms, with three situated on the upper level and one on the lower level, complemented by three bathrooms, including a master bathroom with a two-piece ensuite. The main floor also houses a convenient laundry room and mudroom. This home features gleaming maple hardwood floors and a formal dining room, while the spacious front living area is accentuated by a cozy gas fireplace and 9-foot ceilings. The kitchen, tastefully renovated over the years, features a seating area that overlooks the sun-drenched yard. Descend to the lower level, where you'll discover a spacious recreation room, the fourth bedroom, a well-appointed four-piece bathroom, and plenty of storage space. It is evident as soon as you enter the fully fenced and private yard that this is a gardener's paradise with an apple tree, large garden and mature trees. Several noteworthy upgrades have been thoughtfully incorporated into this property, including TRIPLE PANE windows, a HIGH-efficiency furnace, a new hot water tank, and recent shingles on the home. This exceptional residence presents a unique blend of immaculate condition, generous space, and a prime location. Walk to the nearby Dalhousie C-train station and shopping center! Dalhousie is close to both the foothills and Children’s hospitals, University of Calgary, downtown, shopping malls, and top schools such as Winston Churchill! Don't miss out on the opportunity to call this place home; schedule a private tour today! ****OPEN HOUSE IS CANCELLED****

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I have sold a property at 55 Panatella PARK NW in Calgary

I have sold a property at 55 Panatella PARK NW in Calgary on Oct 7, 2023. See details here

**LOCATION LOCATION LOCATION** Welcome home to your townhome in Panorama Hills! Perfect for a first time home buyer or an investor, this property is situated right off Harvest Hills Blvd, tucked behind a few streets with excellent proximity to community amenities such as shopping centres, key transportation corridors (Stoney Trail, Country Hills Blvd), easy access to the airport, gyms, parks, playgrounds, movie theatre, and Calgary's newest North Trail High School! This home has NEW FLOORS THROUGHOUT on BOTH storeys (no carpet), and a fresh coat of paint that makes it move-in ready! Front porch for your morning coffee, and a back deck to enjoy the summer days. Three good sized bedrooms, with a large walk-in closet off the primary! The basement is unfinished, ready for you to customize as you please, for your perfect entertainment area, rec room, gym, etc. Did we mention TWO PARKING STALLS RIGHT IN FRONT (one titled, one assigned), with outlets! Come check out this home, it won't last long - book your showing today!

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I have sold a property at 5308 Barrett DRIVE NW in Calgary

I have sold a property at 5308 Barrett DRIVE NW in Calgary on Sep 11, 2023. See details here

An unique location of this lovely four level split with the front curved driveway , over 1480 sqft (above grade) PLUS over 1410 sqft developed in third & fourth levels , in the heart of Brentwood Heights, Facing to the Barrett park, with a short walking distance to all levels of school, bus stop, swimming pool, library, Northland shopping Mall, NoseHills Park and more.... This house was solidly built by Nu-West Home, freshly painted throughout interior, new baseboard , new LVP flooring in front entry leading the third level, gleaming hardwood flooring in upper and main levels, primary bedroom offers 1-3 pce ensuite, walk-in closet and the east facing private newer deck & the patio door, overlooking to the treed backyard, other two bedrooms facing to the park with views of Rocky Mountain and the Calgary Olympic Park, large sizeable living room also has the view of the Barrett Park, a formal dining room, lots of kitchen cabinet, a newer patio door off the nook to the private deck & the east facing backyard with the built in gazebo.( used to be used for hot tub area) . The third level developed with new LVP flooring ,an extra bedroom, 1-3 pce bathroom, this level also can direct access to the patio at the back and there is a second patio door off the family room with wood burning fireplace to the private treed backyard, Fourth level developed with the new LVP flooring in the recreation room, large cold room ,& the good size storage area with built in shelves . Upgrades---shingle replaced last 10 years ago, two high efficiency furnaces (2015) & the water -on- demand installed in 2016. Close to all amenities, a few minutes drive to Foothills and Children Hospitals, University of Calgary, LRT station ,Market Mall, Brentwood & Northland Malls. Excellent value in this location.

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Calgary Approves BLANKET REZOINING

There we have it, folks - the City of Calgary has approved city-wide REZONING (currently, at council to process over 40 amendments)

The decision came by way of a 9-6 vote yesterday, following a 12-day public hearing (the largest in the city's history) that saw 736 Calgarians have their say (which 70% of those who spoke were against the proposal). The hopes, of this proposal is to boost housing supply, and provide a more efficient development process for builders looking to increase density in established neighbourhoods. Whether or not this will actually work to lower prices and rents is still to be determined.. 

In the short term, we think this will dramatically increase prices in single-dwelling unit properties. Why? Providing builders the ability to create multiples of value on the same land will allow them to bid higher for each piece. In the long-run, however, if and when housing supply finds a balance, this will see prices then drop (theoretically).

But the other side of the equation is demand.

If and when rates drop, this will drive more buyers into the market, and therefore price appreciation. Not to mention possible increased inter provincial migration on the mortgage renewal mountain.

Additionally, if you purchase a full sized lot, not everyone will be developing (or can) those units into multi-family residences (need the know-how, trades, experience, etc.).

More details below on the Rezoning Plan:

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If you know anyone who would find my weekly distribution helpful, I'm happy to include them, please just reach out and let me know!

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The Bank of Canada announced its updates on interests rates yesterday, and if you haven't head – rates remains flat at 5%. 


This represents the sixth consecutive announcement by Governor Macklem, who mentioned that now he is seeing necessary conditions for a cut, BUT wants to see sustained progress in inflation before lowering rates. 


Falling in-line with economist expectations, some economists continue to believe rate cuts are inevitable, some as soon as June 2024, and some even believe there may be 2 to 3 cuts THIS YEAR


The only offset to this is that US reported inflation yesterday HIGHER than expected, which could influence the Bank of Canada's decisions as they consider various factors such as foreign exchange, trade impact among other things.


The next Bank of Canada meeting will be June 5 where we'll find out what happens, but again all hinges on that ultimate inflation figure. 


More Here


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In other news, particularly around Calgary's rezoning proposal: there has been an uproar against Calgary's increased density plans, with many residents fighting tooth and nail... the key date for a week-long counsel meeting beginning April 22, 2024.


The new zoning codes: 


 R-CG in established communities – which is primarily for rowhouses, but also allows for single detached, side-by-side and duplex homes that may include a secondary suite


• R-G in newer communities – which allows for a mix of low-density housing, including single-detached, side-by-side, duplex, cottage housing clusters and rowhouse development, all of which can include a secondary suite


• H-GO in newer communities – which allows for “higher intensity redevelopment than that of R-CG, but still maintains direct ground-level access for all homes (i.e. no apartment forms)

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That's a wrap for Q1 2024 – what an incredible quarter for real estate here in Calgary! We've seen record activity, specifically 2,664 properties SOLD in the month of March (+10% MoM) and significantly higher than long term trends. 


We did see new listings come alive (~3,170 units), but materially lower that what we'd see seasonally in March – no change to the supply story. Sales to new-listings in March rose to 84%; total month of supply fell BELOW one month.


 
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All Residential

• Benchmark Price: $597,600 (+11% YoY)

• Total Sales: 2,664 (+10%  YoY)

• Total New Listings: 3,172 (-4% YoY)

• Sales-to-New Listings: 84%

• Months of Supply: 0.95 Months (-29% YoY)


• Comment: Incredible restriction of supply with less than 1 month of total supply driven by influx of migration across provinces and internationally (see last week's dive into that discussion); 2% month-over-month gain in pricing as a result with the lower priced market seeing the most appreciation given demand. We're also now seeing properties over $1,000,000 move quicker than usual as well (anecdotally). 


Detached

• Benchmark Price: $739,700 (+14% YoY)

• Total Sales:1,151 (+1% YoY)

• Total New Listings: 1,386 (-14% YoY)

• Sales-to-New Listings: 83%

• Months of Supply: 0.97 Months (-29% YoY)

• Days On Market: 20 (-24% YoY)


• Comment: Sales were strong, gaining 1% since last year, but could be stronger if there were detached homes to buy/sell. If you're thinking about selling, now couldn't be a more perfect time. We would expect May/June to roll over in inventory, but given this demand - it could very well last a while... You've seen a 14% price increase on detached homes (very strong), even more on an equity-basis.



Semi-Detached

• Benchmark Price: $658,000 (+14% YoY)

• Total Sales: 250 (+15% YoY)

• Total New Listings: 260 (-7% YoY)

• Sales-to-New Listings: 96%

• Months of Supply: 0.82 Months (-38% YoY)

• Days On Market: 21 (-27% YoY)


• Comment: As we work 'downstream' into more affordable product, we're seeing an increase in sales activity. Note, semi-detached properties in Calgary represent properties from two different eras. We have those older 1970's half duplex homes and also brand new infill product (which are priced near the $1,000,000 mark - some even more depending on location). Basically close to 100% absorption in this bucket.



Townhomes

• Benchmark Price: $448,700 (+20% YoY)

• Total Sales: 449 (+16% YoY)

• Total New Listings: 536 (+6% YoY)

• Sales-to-New Listings: 84%

• Months of Supply: 0.79 Months (-24% YoY)

• Days On Market: 17 (-18% YoY)


• Comment: An incredible pace of appreciation in townhomes... with an eye-popping 20% since last year, this is THE YEAR OF TOWNHOMES. We saw some increase in inventory last month (likely due to the season), but at just 0.79 months of supply - this property type represents more size at a reasonable budget upgrading from condo-type lifestyle.



Apartments

• Benchmark Price: $337,700 (+17% YoY)

• Total Sales: 814 (+20% YoY)

• Total New Listings: 990 (+8% YoY)

• Sales-to-New Listings: 82%

• Months of Supply: 1.06 Months (-29% YoY)

• Days On Market: 23 (-28% YoY)


• Comment: Another eye-popping return figure of 17% since last year. As expected in this group, more supply relative to the other property types but at only 1 month of product available, this is a very tight sellers market (more balanced market is ~2.5 months of supply). 


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