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CREB®'s Q2 2023 Housing Market Report

CREB® has released its Q2 2023 Housing Market Report. The report highlights a dynamic real estate landscape in the City of Calgary, showcasing strong trends in sales, demand and pricing.

As expected, sales activity has slowed from last year’s record-breaking pace while staying stronger than long-term trends. What was not expected was the robust demand in the higher price segments of the market despite higher lending rates.

However, the robust demand is met with a shortage in supply. Housing inventory levels have remained notably low across various segments, encompassing the resale, new home, and rental markets. Despite relatively strong new home starts, these have not been sufficient to alleviate inventory constraints, primarily due to the influx of migrants. Resale supply has also encountered unexpected challenges, as higher lending rates and limited choices in supply have deterred existing homeowners from making changes.

The prevailing shortage in supply has contributed to the continuation of tight market conditions, which has led to stronger-than-expected price growth across all property types in the city. This steady appreciation in prices throughout the year has effectively offset declines observed in the latter half of 2022, ultimately resulting in new record-high prices.

For the full report, please download CREB®’s Q2 2023 Calgary & Region Quarterly Update Report here.

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The Productive Home Office

Where you can optimize your work environment with ergonomic furniture, harness the power of natural light near your desk, and boost your efficiency by regularly decluttering!

Useful Tips:

Ergonomic Setup: Invest in an ergonomic chair and desk to maintain good posture and reduce strain during long working hours.

Natural Light Boost: Position your desk near a window to harness natural light, enhancing focus and mood.

Declutter Regularly: A tidy workspace enhances productivity. Take a few minutes each day to declutter and organize.

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New property listed in Point McKay, Calgary

I have listed a new property at 356 Point Mckay GARDENS NW in Calgary. See details here

Riverfront setting and a private end-unit location in stunning Point McKay? Townhome living at its best! A large and cheery entryway sets the tone with charming terracotta-style floors and glass French door closets reminiscent of Mediterranean design. Step up to a warm, airy main floor, where a large front room offers plenty of space for both living and dining, and interior shutters again add a hint of southern European influence. Hardwood floors throughout are in great condition and in a light neutral colour that goes perfectly with your personal style. Down the hall, the back of the home opens up with a lovely sunken family room in front of a cozy gas fireplace. The kitchen is beautiful in maple cabinetry and light quartz counters, and quality appliances include a gas range and a new fridge. A peninsula island is fantastic for entertaining, and overlooks a breakfast nook with French doors that lead to the garden. A powder room on this level has been updated, and the home also has newer windows and recently refreshed paint. Upstairs, a bonus room is an excellent work from home space. The primary suite is stunning, with a large bedroom, a sitting area, and dual closets. The ensuite is elegant and again infuses earthy terracotta tones in the tilework. Dual sinks are perfect for a couple, and the shower is epic. Dual showerheads and a bench invite you to indulge as you get ready for the day. A second bedroom on this level is generously sized, and the main bathroom is very peaceful in Grecian-style white and blue tiles. The finished basement offers another living room that could be a great home gym or another office. The utility room includes a laundry area complete with a utility sink and both hanging and cupboard space. The furnace is new as well. In the storage room, built-in shelving makes organizing your seasonal items a breeze. Outside, a lush, gorgeous patio is cobbled and edged with perennial garden beds. Your veggies will love the south exposure, and large trees in the park add a sense of privacy. Dog owners and bicycle commuters will find this amazing location perfect, with miles of pathways at your doorstep and only a ten-minute ride into downtown. This popular area is in walking distance to some of the city’s most iconic locales, with Riverside Spa, The Lazy Loaf & Kettle, and LICS Ice Cream Shop only steps away. The outdoor athletic park, Edworthy Park, and boutique Angel’s Café are just down the path as well. Also nearby, Foothills and the Alberta Children’s Hospital are available within minutes, and Market Mall or trendy Kensington offers a full complement of shops, amenities, and services in just a short drive. See this one today! Currently tenant is occupied and the tenant would like to stay.

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I have sold a property at 405 450 8 AVENUE SE in Calgary

I have sold a property at 405 450 8 AVENUE SE in Calgary. See details here

This is the N3 in Calgary's Urban neighborhood EAST VILLAGE! Nicely laid out simple living 2 bed, 1 bath condo. Enjoy Inner city lights, walking distance to shops, coffee and parks nearby. So much to explore! Fenced dog park nearby, train station steps away along with the New Calgary Library, Studio Bell National Music centre, numerous pubs such as the redone historical King Eddy Jazz club! This building houses a multi-level penthouse gym with city views, rooftop patio , outdoor kitchen, tables and views galore! Ball court across the street! Explore the East Village unlimited surroundings, river paths & many lifestyle amenities Calgary city life offers!

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I have sold a property at 358 Point Mckay GARDENS NW in Calgary

I have sold a property at 358 Point Mckay GARDENS NW in Calgary. See details here

Welcome To the RIVERFRONT LIFESTYLE of Point McKay Gardens. This extensively renovated, 2 story home backs directly to the Bow River Green Belt and path system. This 1507 sq/ft home contains 3 bedrooms and 2 ½ bathrooms. The Triple Crown Homes recent renovation went down to the studs with new plumbing and electrical throughout. Through the fronts doors is the spacious entry leading to the updated open floor plan. The main level has gleaming hardwood throughout the dining room and living room with a convenient corner gas fireplace. The huge kitchen has been completely updated with newer cupboards, stone countertops, and newer appliances. Through the patio doors is a large deck and patio with direct access to the green space and riverwalk. Wonderful scenic views from the private back yard. The upper level of the home contains 3 bedrooms including the primary bedroom with a wood burning fireplace, 2 large closets and a beautiful en-suite with heated floor. One of the two additional bedrooms is currently utilized as a convenient office. The partially finished lower level has the laundry room and a flex room currently set up as a gym. Plenty of storage completes the basement level. Additional features for this fabulous home are new Pella windows with built in blinds, on demand hot water system, heated attached garage, long lasting rubber membrane roof, and 2 natural gas lines on the back deck for the BBQ and a firepit. This desirable riverfront townhouse won't last long. Call your Realtor today. Enough reading, check out the 3D virtual tour and picture yourself there.

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Open House. Open House on Sunday, August 20, 2023 1:00PM - 3:00PM

Please visit our Open House at 33 Vandoos GARDENS NW in Calgary. See details here

Open House on Sunday, August 20, 2023 1:00PM - 3:00PM

**Open House Sunday, August 20 from 1:00pm-3:00pm** Beautifully maintained, thoughtfully updated, and set in Varsity’s highly sought after Horizon Village 50+ complex, this home is absolutely phenomenal. A bright and airy entryway offers big closets, and the space flows back into a wonderful open layout. A country kitchen is a gorgeous upgraded feature, with wood countertops, a farmhouse sink, and refreshed cabinetry. Newer stainless appliances include a French door fridge and a gas range. An eating bar overlooks the dining area and a sunny living room, which has huge windows and sliding glass doors that lead out to the deck. The primary bedroom offers sizable closets and plenty of room for a cozy chair. The second bedroom is tucked next to the front door, perfect for overnight guests. The main bathroom provides tons of storage, a bathtub, and the rain showerhead is detachable as well. The single attached garage is another fantastic perk, especially for winter parking. In the finished basement, a family room enjoys an electric fireplace, and there is easily room for a work area or games table here as well. There is another full bathroom on this level, as well as even more closet and storage space. Additional upgrades are a new HVAC system *see private remarks, and all the blinds throughout the home are custom. Outside, a massive back deck gets amazing southwest sunshine your plants will love! There is room out here for grilling and dining as well as just soaking up the sun. Or, roll out the awning for a shady oasis from the summer heat. Manicured lawns dotted with trees and shrubs are cared for by the condo management company, as is snow removal, so the grounds are always lovely and you’re off the hook for manual labour. This complex has an awesome clubhouse called the Horizon Centre for residents, complete with lounge areas, a library, and games tables. There is even a kitchen, fitness centre, and meeting rooms, so you can entertain, work, and play all within steps from home. This neighbourhood is one of the best in Calgary, with lots of green space and in close proximity to all amenities. In fact, you could walk to Northland Village Mall in only a few minutes. The University of Calgary and Market Mall are also nearby, as are golfing, walking paths, and a huge range of shops and restaurants. Crowchild Trail is right there, with access to downtown or out of town in only minutes. See this one today!

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Less is More Tips for Downsizing

I am sharing with you some strategies on how to start the process of downsizing a home, whether it is yours or loved ones. I am also offering a reminder to use those “good” items you had set aside as well as parting with those you only kept out of guilt. You are worth it!

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The Serene Bedroom

The Serene Bedroom, a tranquil sanctuary where you can optimize your sleep environment, establish a relaxing bedtime routine, and maintain a minimalist ambiance for a peaceful atmosphere!

Useful Tips:

Optimize Sleep Environment: Invest in comfortable bedding, control room temperature, and reduce noise and light for a restful sleep.

Limit Screen Time Before Bed: Establish a relaxing bedtime routine, avoiding screens to improve sleep quality.

Keep it Minimal: Clutter can lead to a cluttered mind. Keep the bedroom simple and organized for a calming atmosphere.

Share your favorite bedtime ritual that helps you unwind!

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July 2023 | Calgary Real Estate Housing Market Update

Rising rates had little impact on sales this month as the 2,647 sales represented a year-over-year gain of 18%, reflecting the strongest July levels reported on record.

The record-setting pace has been driven mainly by significant gains in the relatively affordable apartment condominium sector.

Despite recent gains, year-to-date sales have declined by 19% over last year. In line with seasonal expectations, sales and new listings trended down compared to last month.

However, this had minimal impact on inventory levels, which remained near the July record low set in 2006. With a sales-to-new-listings ratio of 82 per cent and a months of supply of 1.3 months, conditions continue to favour the seller.

In July, the unadjusted total residential benchmark price reached $567,700, marking the seventh consecutive monthly gain. Prices are now over four per cent higher than the previous peak in May of 2022.

Contact me today to schedule a discussion and explore the best strategies for maximizing your selling success.

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jason@jasonstreich.com⁠

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I have sold a property at 20 Tuscany Hills CIRCLE NW in Calgary

I have sold a property at 20 Tuscany Hills CIRCLE NW in Calgary. See details here

Above & Below Garde = 2,030sqft. Perfectly located in the heart of Tuscany, this stunning home features a fantastic family layout and executive finishes. Stone details, a covered front porch and a lovely purple shade tree create a picturesque curb appeal you will love. A bright and airy entryway opens to a warm and elegant main living space. The kitchen is beautifully appointed in rich cherry-toned cabinetry and striated granite countertops. A full pantry and quality stainless appliances are desirable elements, and an eat-up island makes meal prep and entertaining a breeze. The sunlit dining area offers access to the deck, so your gatherings can flow effortlessly to your outdoor space. In the living room, a gas fireplace is the focal point, ideal for great conversations and cozy evenings. Next to the entry from the double-attached garage, a powder room and laundry area complete this level. Upstairs, a vast primary suite includes a bay window sitting area and a walk-in closet with built-in organizers. The ensuite is spectacular, with a gorgeous tiled shower, where a rainfall showerhead and a detachable angled spray beg you to indulge here. Two more large bedrooms share the main bathroom; the ideal family layout. A finished basement is great for your home theatre, and a fourth bedroom could easily be a home gym or office. Outside, the deck steps down to a stamped concrete patio, giving you so much room for outdoor living. The yard is edged with mature trees and garden beds. Half is a lush lawn and the other half is a gravel pad with alley access so you can park your boat or RV inside the fence! The location of this home is absolutely phenomenal. Almost directly across the street, a treed green space offers a playground, and you can access the pathway system that connects to Twelve Mile Coulee within a half-block, giving you hours of walking at your doorstep – there is even an off-leash area for your pup. Also, in only a few minutes, you can walk to multiple area schools and sports fields. Even the grocery store, local shops, and the community association are just down the street, and within 10 minutes you can head to Crowfoot Crossing for a full array of shopping and dining options, as well as the C-train station. The Lynx Ridge Golf Club is also nearby, and it is one of the prettiest. This is also one of the best school districts and most family-friendly communities in Calgary, and proximity to Crowchild and Stoney Trail give you great access to the rest of the city. Plus, you get to skip the traffic anytime you want to escape to the mountains. See this one today!

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New property listed in Lower Mount Royal, Calgary

I have listed a new property at 402 1027 Cameron AVENUE SW in Calgary. See details here

Great VIEWS OF DOWNTOWN CALGARY from the LARGE BALCONY of this fourth-floor unit on Cameron Ave, one block off trendy 17th Ave! Churchill Towers has been RECENTLY RENOVATED and is a well-managed CONCRETE BUILDING. This two-bedroom unit has an OPEN AND BRIGHT layout. The living room features laminate flooring. The kitchen features MAPLE CABINETS and STAINLESS STEEL APPLIANCES as well as a breakfast bar. Each bedroom is spacious and has large closets. The washer and dryer are located in the unit. This is a great condo for anyone working in the downtown core or for the sophisticated investor seeking to add an excellent property to their portfolio. Storage unit inside condo.

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Thinking Of Selling Your Calgary Home?

Thinking of selling your home in Calgary? Let me help you make the process smooth and profitable! I'm here to help you navigate the current real estate market you every step of the way.

Quick Fact: Did you know that Calgary's real estate market has been experiencing a steady increase in demand, making it a great time to sell?

Get started today & Start Home Evaluation

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The Functional Kitchen

The Functional Kitchen, where you can streamline your cooking process with organized zones, elevate your culinary experience with quality utensils, and create a clean, inviting space!

Useful Tips:

Organize with Zones: Group items based on their use (e.g., cooking, baking, prep) to streamline your workflow and save time.

Invest in Quality Utensils: High-quality knives and cooking tools can make meal preparation a breeze and last for years.

Keep it Clutter-Free: Minimize countertop clutter to maximize workspace and maintain a clean, inviting kitchen.

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Importance of Property Agreements for Common Law Partners in Alberta

When it comes to property rights and distribution, many people are aware of the laws that apply to married couples. However, for common law partners in Alberta, know the law. It is crucial for individuals in common law relationships to understand the importance of having agreements in place regarding property and its distribution. This blog post will highlight the significance of such agreements and the potential implications of not having them.

The Family Property Act in Alberta:

The Family Property Act, in effect in Alberta, addresses property division for common law partners. Under this act, the court has the authority to make a distribution of property between the spouses or adult interdependent partners based on the following factors:

Exempted Property: Certain types of property, such as gifts, inheritances, and property acquired before the relationship began, may be exempt from distribution.

Valuation Date: The value of the property to be distributed is determined as of the trial date, unless a written agreement states otherwise.

Just and Equitable Distribution: The court considers various factors, as outlined in section 8 of the act, to determine a fair and equitable distribution of property.

Income and Acquired Property: Property acquired by a spouse or adult interdependent partner during the relationship, including income derived from the original property, may be subject to distribution.

Importance of Agreements:

Having clear agreements in place regarding property rights and distribution is crucial for common law partners in Alberta. Here's why:

Protection of Individual Interests: A written agreement allows partners to define and protect their individual property interests. It can outline which properties are individually owned and which are jointly owned, reducing potential disputes in the future.

Control over Distribution: With an agreement, partners have control over how their property will be distributed in the event of separation. They can specify the division of assets and debts, ensuring a fair and mutually agreed-upon outcome.

Avoiding Legal Complexities: Without a written agreement, the court will rely on common law principles to determine property division. This can lead to complex legal proceedings and uncertainties about the outcome, potentially causing stress and financial burden.

Addressing Contributions: Agreements can address the contributions made by each partner during the relationship, whether financial or non-financial. This ensures that contributions are considered when distributing property, minimizing potential unfairness.

Clarity and Peace of Mind: By having a well-drafted agreement in place, common law partners can have peace of mind, knowing that their property rights are protected and that they have a clear plan in case of separation.

Common law partners in Alberta should understand the significance of having agreements in place regarding property and its distribution. The Family Property Act provides a framework for property division, but having a written agreement allows partners to define their own rules and protect their individual interests. Consultation with a family lawyer is recommended to ensure that agreements are properly drafted and legally binding. By taking proactive steps, common law partners can establish clarity, protect their rights, and avoid potential disputes in the future.

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The Cozy Living Room

The Cozy Living Room, where you can immerse yourself in a relaxing ambiance with soft lighting and scented candles, foster meaningful connections through thoughtfully arranged furniture, and add a personal touch with cherished family photos and artwork.

Useful Tips:

Create a Relaxing Ambiance: Use soft, warm lighting and add some scented candles to make the space cozy and comfortable.

Arrange Furniture for Conversation: Arrange seating in a circular or semi-circular layout to encourage natural conversation and connection.

Add Personal Touches: Decorate with family photos, artwork, or souvenirs to make the living room uniquely yours.

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New property listed in Tuscany, Calgary

I have listed a new property at 20 Tuscany Hills CIRCLE NW in Calgary. See details here

Above & Below Garde = 2,030sqft. Perfectly located in the heart of Tuscany, this stunning home features a fantastic family layout and executive finishes. Stone details, a covered front porch and a lovely purple shade tree create a picturesque curb appeal you will love. A bright and airy entryway opens to a warm and elegant main living space. The kitchen is beautifully appointed in rich cherry-toned cabinetry and striated granite countertops. A full pantry and quality stainless appliances are desirable elements, and an eat-up island makes meal prep and entertaining a breeze. The sunlit dining area offers access to the deck, so your gatherings can flow effortlessly to your outdoor space. In the living room, a gas fireplace is the focal point, ideal for great conversations and cozy evenings. Next to the entry from the double-attached garage, a powder room and laundry area complete this level. Upstairs, a vast primary suite includes a bay window sitting area and a walk-in closet with built-in organizers. The ensuite is spectacular, with a gorgeous tiled shower, where a rainfall showerhead and a detachable angled spray beg you to indulge here. Two more large bedrooms share the main bathroom; the ideal family layout. A finished basement is great for your home theatre, and a fourth bedroom could easily be a home gym or office. Outside, the deck steps down to a stamped concrete patio, giving you so much room for outdoor living. The yard is edged with mature trees and garden beds. Half is a lush lawn and the other half is a gravel pad with alley access so you can park your boat or RV inside the fence! The location of this home is absolutely phenomenal. Almost directly across the street, a treed green space offers a playground, and you can access the pathway system that connects to Twelve Mile Coulee within a half-block, giving you hours of walking at your doorstep – there is even an off-leash area for your pup. Also, in only a few minutes, you can walk to multiple area schools and sports fields. Even the grocery store, local shops, and the community association are just down the street, and within 10 minutes you can head to Crowfoot Crossing for a full array of shopping and dining options, as well as the C-train station. The Lynx Ridge Golf Club is also nearby, and it is one of the prettiest. This is also one of the best school districts and most family-friendly communities in Calgary, and proximity to Crowchild and Stoney Trail give you great access to the rest of the city. Plus, you get to skip the traffic anytime you want to escape to the mountains. See this one today!

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New property listed in Marlborough, Calgary

I have listed a new property at 5204 Marshall ROAD NE in Calgary. See details here

Marvellous Marlborough! Nice Bunglalow sits perched up high on a generous sized lot. Currently rented up, as well two separate living quarters down with garage rented as well. 3 beds up and currently 2 down makes for great investment property. Live up and separate quarters down makes this ideal. First time buyer, investor, family with inlaws? Newly finished fence work along with stone work at front of house adds to the homes curb appeal. Call you agent today before it's gone!

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I have sold a property at 210 495 78 AVENUE SW in Calgary

I have sold a property at 210 495 78 AVENUE SW in Calgary. See details here

The perfect blend of location, local amenities, and lovely living space is right here in this Adult Only (21+) Kingsland condo. A bright entryway opens into a classic kitchen, where a great layout offers plentiful prep and storage area, while homey wood tones in the cabinetry and stainless appliances create a comfortable, modern aesthetic. An eating bar overlooking the living room brings the space together, and you could easily add a desk or a dining table as well. The corner fireplace is a gorgeous highlight, and tons of windows add beautiful natural light. A large balcony has hookups for your grill and is a great spot to enjoy your morning coffee or to wind down in the evenings – you can even see the Stampede fireworks from here. In the primary bedroom, there is enough room for a sitting area under the window, and a big walk-in closet has built-in organizers. The ensuite is well-appointed and includes a makeup vanity, plus you can have a relaxing bath in the tub-shower combo here. The den could make a great second bedroom or home workspace, and the full main bathroom also provides in-suite laundry. The Stratford on the Park building offers secure, underground, titled parking, a wash bay, and private storage lockers. The building is also pet-friendly, with approval. It backs onto a park where you will also find the Kingsland Community Hall and sports rinks, as well as the Kingsland Dry Pond, which hosts sports fields and courts, a toboggan hill, pathways, and even a dog park. This inner-city community has a whole host of amenities within walking distance, including some of Calgary’s best restaurants like Bitter Sisters Brewing Co, and the LRT Station. Proximity to Macleod Trail means an extensive range of shops are also at your doorstep, as is Chinook Mall. Downtown, popular 17th Ave, and the Stampede Grounds are all within 10 minutes by car or the C-train. Of course, if you’re into mountain adventures, Glenmore Trail makes it easy to head west whenever you like. See this one today!

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The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.