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I have listed a new property at 4205 24 Hemlock CRESCENT SW in Calgary. See details here
Set in the heart of peaceful Spruce Cliff, this beautiful condo in the private and treed Copperwood complex is a quiet retreat that caters to the active urban lifestyle, with location and convenience at the forefront, while still embracing a serene setting and proximity to nature. A rare find, this unit is bright, stylish, and well-maintained, and it has two titled underground parking stalls! As soon as you step into the building, you’ll appreciate the newly renovated lobby, and the attractive aesthetic continues into the flat itself. A large entryway greets you with plenty of room for outerwear in the large double closet. A built-in office nook is fantastic for your work from home set up, and the home opens into a large living and dining area that faces a cozy gas fireplace. The kitchen is elegant in rich wood cabinetry with statement lighting overhead. A breakfast bar connects the space, allowing conversation to flow as you cook your signature dish for friends and family. On nice days, you’ll enjoy opening the doors to the covered balcony to grill or dine al fresco as you take in picturesque sunsets to the west. The primary suite is expansive, with huge windows that bring in so much natural light. A walk-in closet and an ensuite complete your personal retreat. Across the unit, a big second bedroom is perfect for guests, and also includes a walk-in closet. The main bathroom is well-appointed, and there is also in-suite laundry. This apartment has two titled stalls in the heated underground parkade, which also features assigned storage lockers, a car wash, and a well-outfitted workshop. Copper Club holds a number of well-planned amenities for residents, including a high-end fitness facility, and an owner’s lounge and party room ideal for hosting larger social events. Guest suites and visitor parking are also available, making this one of the best equipped complexes in the city. Landscaped grounds are lovely to walk through, and the courtyard is a pleasant place to take a break and take in the surroundings. The Shaganappi Golf Course is right next door, and there are plentiful parks throughout the community. Within a block you can access walking paths that connect to the Bow River Pathway running through the entire city for hours of outdoor adventures and stunning scenery. Bicycle commuters love that they can be downtown in close to the same time as driving, which only takes 10 minutes. Westbrook Mall is in walking distance, offering a range of shopping and dining options, and transit in this community is fantastic, with the C-train station there as well. Nearby 17th Avenue is a popular destination for foodies, with some of the best restaurants in the city, and this well-connected neighbourhood has quick access to several primary routes, making it easy to visit friends, run errands, or head out into the mountains for your favourite activities. See this one today!
Big news from the Bank of Canada—rates have just been slashed by 50 basis points, bringing the policy rate down to 3.75%! So, what does this mean for YOU?
For homeowners, this means your mortgage payments could soon decrease, especially if you’re on a variable rate. If you’ve been thinking about refinancing or locking in a lower fixed rate, now might be the perfect time.
First-time homebuyers, listen up! Lower borrowing costs make homes more affordable. This could be your chance to jump into the market and get the home you’ve been dreaming of.
This rate cut isn’t just good for homeowners—it’s also set to boost the economy. We’re expecting stronger consumer spending, more business investment, and continued growth in housing demand.
But there’s a balancing act. Inflation is easing, but shelter costs remain high. As the economy picks up, the Bank of Canada will keep a close eye on inflation to ensure prices stay stable.
So, whether you're a homeowner, a buyer, or just curious about where the economy is headed, this rate cut could be the opportunity you’ve been waiting for!
Stay informed and get ahead in this changing market—be sure to follow for more updates!
Jason Streich
Real Broker
(403) 807 2204
jason@jasonstreich.com
https://www.bankofcanada.ca/2024/10/fad-press-release-2024-10-23/
I have listed a new property at 218 Point Mckay TERRACE NW in Calgary. See details here
**Open House Sunday Oct 6th 1-3pm*****Beautifully updated on the exterior, this townhome in popular Point McKay has also been stunningly renovated inside this year. From the moment you walk through the front door, high-end selections stand out. Hardwood floors and upgraded doors with stylish black hardware set an upscale tone immediately. You’ll pass a powder room and the entry from the single-attached garage on your way to the main level. A breathtaking living area opens up with soaring ceilings, floor-to-ceiling windows, and a statement fireplace. A glass half-wall and open stair rails connect the levels, adding to the dynamic visual space and allowing natural light to flow throughout. Sliding glass doors lead to a spacious deck you will absolutely love spending time on in the warm months. Up the stairs, renovations have removed the wall between the kitchen and dining room to create a lovely open-concept area. The entire kitchen is brand new and includes all the dreamy elegance you could want. Full-height cabinetry infuses a clean elegance, while quartz counters and backsplashes add a luxe touch. A massive central island is sure to become a natural hub for your gatherings, and the contrasting dark tones highlight the sleek, black fittings and stainless appliances for a gorgeous chic aesthetic. A cozy breakfast nook and a butler’s pantry with a wine fridge take it to the next level, and this unit also has a sunny south-facing balcony here. As you head to the top floor, vaulted ceilings with big windows flood the stairwell with light. The primary bedroom is a peaceful retreat, complete with generous closets and a serene ensuite. Both secondary bedrooms are large, and this storey also holds the main bathroom and the laundry room. The basement holds a large storage area for all your seasonal items, or you could easily finish it into a home gym, office, or guestroom. Upgrades in the utility room include a new furnace and hot water tank. Outside, a tidy lawn off the deck is a rare feature your furry family member will appreciate, and the gate backs onto the edge of the complex, making it feel like you have your own private park. Within steps, you can enjoy the Bow River Pathway, whether your style is running or biking, or you just want to meander between the many parks and viewpoints along the way. This community is one of the most coveted in Calgary, due to its proximity to downtown, the Foothills Hospital, and the Alberta Children’s Hospital. Trendy Kensington is also close by, and in easy walking distance you can access the tennis courts, Riverside Club and Spa, as well as local eateries like the Lazy Loaf and Kettle or LICS Ice Cream. Of course, if the mountains start calling, you can be headed west out of town in minutes as well! See this one today!
Please visit our Open House at 218 Point Mckay TERRACE NW in Calgary. See details here
Open House on Sunday, October 6, 2024 1:00PM - 3:00PM
**Open House Sunday Oct 6th 1-3pm*****Beautifully updated on the exterior, this townhome in popular Point McKay has also been stunningly renovated inside this year. From the moment you walk through the front door, high-end selections stand out. Hardwood floors and upgraded doors with stylish black hardware set an upscale tone immediately. You’ll pass a powder room and the entry from the single-attached garage on your way to the main level. A breathtaking living area opens up with soaring ceilings, floor-to-ceiling windows, and a statement fireplace. A glass half-wall and open stair rails connect the levels, adding to the dynamic visual space and allowing natural light to flow throughout. Sliding glass doors lead to a spacious deck you will absolutely love spending time on in the warm months. Up the stairs, renovations have removed the wall between the kitchen and dining room to create a lovely open-concept area. The entire kitchen is brand new and includes all the dreamy elegance you could want. Full-height cabinetry infuses a clean elegance, while quartz counters and backsplashes add a luxe touch. A massive central island is sure to become a natural hub for your gatherings, and the contrasting dark tones highlight the sleek, black fittings and stainless appliances for a gorgeous chic aesthetic. A cozy breakfast nook and a butler’s pantry with a wine fridge take it to the next level, and this unit also has a sunny south-facing balcony here. As you head to the top floor, vaulted ceilings with big windows flood the stairwell with light. The primary bedroom is a peaceful retreat, complete with generous closets and a serene ensuite. Both secondary bedrooms are large, and this storey also holds the main bathroom and the laundry room. The basement holds a large storage area for all your seasonal items, or you could easily finish it into a home gym, office, or guestroom. Upgrades in the utility room include a new furnace and hot water tank. Outside, a tidy lawn off the deck is a rare feature your furry family member will appreciate, and the gate backs onto the edge of the complex, making it feel like you have your own private park. Within steps, you can enjoy the Bow River Pathway, whether your style is running or biking, or you just want to meander between the many parks and viewpoints along the way. This community is one of the most coveted in Calgary, due to its proximity to downtown, the Foothills Hospital, and the Alberta Children’s Hospital. Trendy Kensington is also close by, and in easy walking distance you can access the tennis courts, Riverside Club and Spa, as well as local eateries like the Lazy Loaf and Kettle or LICS Ice Cream. Of course, if the mountains start calling, you can be headed west out of town in minutes as well! See this one today!
Rising sales in the upper price ranges were not enough to offset the pullback occurring in the lower price ranges, as sales in September were 2,003, 17% below last year's record high. Despite the decline, sales this month were still over 16% higher than levels traditionally achieved in September.
New listings in September rose to 3,687 units, the highest September total since 2008. This rise in new listings compared to sales did support some inventory growth. September inventory levels pushed up to 5,064 units, nearly double the exceptionally low levels reported in the spring, but remain below the 6,000 units we typically see in September.
Improving inventory levels compared to sales is continuing to shift our market toward more balanced conditions. In September, the months of supply reached 2.5 months. While this is a gain over last year’s record low, conditions are still tilted in favour of the seller.
Additional supply in the market has taken some of the pressure off home prices over the past few months, following stronger-than-expected gains throughout the spring. In September, the unadjusted benchmark price was $596,900, slightly lower than last month but over 5% higher than last year’s levels. Year-over-year gains ranged from nearly 9% growth for detached homes to nearly 14% gains in the apartment condominium market. The gains for each property type outpaced the growth in total residential prices, mostly due to the shifting composition of sales.
Detached
The 9% growth in sales over $700,000 was not enough to offset the steep pullbacks reported for homes priced below $600,000, causing September sales to total 942 units, a 17% decline over last year. Improved sales for higher-priced homes were possible thanks to rising new listings, as that segment of the market is starting to demonstrate more balanced conditions for homes priced above $700,000.
As of September, the unadjusted detached benchmark price was $757,100, a slight decline over last month, but nearly nine per cent higher than levels reported last year. It is not unusual to see some monthly adjustments in the fall, especially following stronger gains in the spring. With tighter conditions being experienced for lower-priced products, price growth has also ranged within the detached sector. The North East and East districts continue to report the largest year-over-year price gains.
Semi-Detached
September reported 299 new listings and 182 sales, causing the sales-to-new listings ratio to trend up over last month to nearly 61%. Despite the gain over the past several months, the improvements in new listings relative to sales have supported rising inventory levels. However, with less than 400 units available, inventory levels remain nearly 33% below long-term trends for September.
Like the other property types, recent gains in new listings are causing the months of supply to improve over last year's levels. However, with just over two months of supply in September, conditions continue to favour the seller. Following strong gains in the spring, in September, the unadjusted benchmark price eased slightly over last month, but at a price of $678,400, levels are over 9% higher than last year at this time.
Row
Over 600 new listings came onto the market in September, where over 70% of the new listings were priced above $400,000. While new listings improved across most districts, 34% of the new listings were in the North and South district, likely a reflection of the new home activity occurring in those areas. Sales in September totalled 377 units, slightly lower than last year's levels.
Inventories in September rose to 747 units, a significant improvement over the previous two years, but still below long-term trends. Nonetheless, the rise in inventory relative to sales did cause the months of supply to increase to nearly two months. Conditions continue to favour the seller, but improved choice did slow the pace of price growth. The unadjusted benchmark price in September was $459,200, 10% higher than September 2023 levels.
Apartment Condominium
Strong gains in new listings continued into September, with 993 units entering the market. At the same time, sales dropped to 502 units, causing the sales-to-new listings ratio to drop to 50% and inventories to rise to 1,623 units. Of the inventory in the market, over 72% was priced above $300,000, a significant shift compared to last year, where less than 58% of the listings were above that range.
Gain in supply compared to sales caused the months of supply to rise to 3.2 months, the highest level seen since the end of 2021. Improving supply in the new home market is likely contributing to the rise in supply and has taken some of the pressure off home prices. In September, the unadjusted benchmark price was $345,000, 14% higher than last year at this time. Year-to-date prices are still averaging a year-over-year gain of 17%.
Is now the time to make your move? Let’s discuss how these changes impact your real estate goals.
Jason Streich
Real Broker
(403) 807 2204
jason@jasonstreich.com
Cell 403-807-2204
Fax 403-592-6946
#700, 1816 CROWCHILD TRAIL NW
Calgary, AB
T2M 3Y7
