Sales and new listings have improved over the levels reported at the beginning of the year. As a result, the spread between sales and new listings supported some expected monthly inventory level gains.
However, the 3,233 available units reflected the lowest March inventory levels since 2006 and left the months of supply just above one month, firmly in the seller’s territory.

While conditions are not as tight as last March, low inventory levels leave purchasers with limited choice, once again driving up home prices. Total unadjusted residential home prices reached $541,800 in March, a 2% gain over last month and nearly 1% higher than prices reported last year.

While prices remain below the May 2022 high of $546,000, the pace of price growth over the first quarter has been stronger than expected due to the persistent seller’s market conditions. March recorded 3,318 new listings compared to the 2,432 sales, leaving the sales-to-new listings ratio relatively high at 73%. However, both sales and new listings have eased by 40% compared to levels reported last March.

If you or someone you know have questions about how this may impact your home selling or buying decision, send me a message!⁠

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠

Watch Video
Read Full CREB Market Stats Package 

Have peace of mind during a busy time and enjoy a smooth, enjoyable customer experience. My Referral Network of skilled professionals are your trusted advisors before, during, and after the transaction. Our expert negotiations and effective communication get you the results you’re looking for.

We’ll serve you at the highest level to earn your repeat and referral business and consistently provide you with value along the way.

Whether you’re moving within the city, within the province or across the country, I’m connected to better serve you. Reach out today, I love to help!

Entryways have the ability to be an impressive statement and give a home a luxurious finish and feel. If you’re looking to make your entryway more impressive or simply want to spruce it up, here are a few unique ways to turn heads.

Grand Lighting: Install a statement chandelier or pendant light to add a touch of glamour and drama to your entryway. The right lighting fixture can instantly make your entryway look luxurious and elegant.

Bold Colors: Consider using a bold color on your front door or accent wall to make a statement. Rich, deep colors like emerald green or navy blue can create a sense of luxury and sophistication.

Ornate Mirrors: Hang a large, ornate mirror in your entryway to reflect light and create the illusion of more space. A well-chosen mirror can also add a touch of elegance and sophistication to your space.

Statement Art: Consider hanging a large piece of statement art in your entryway to make a bold statement. Choose a piece that speaks to your personal style and complements the rest of your home's decor.

Luxe Materials: Incorporate luxurious materials like marble, brass, or velvet into your entryway design. A marble entryway floor, brass light fixtures, or a velvet bench can instantly elevate the look and feel of your space.

Unique Accessories: Incorporate unique accessories like a vintage umbrella stand, a statement vase, or a sculptural side table to add interest and personality to your entryway. These small touches can make a big impact on the overall look and feel of your space.

Customized Door: Consider installing a custom-made door with intricate carvings or detailed glasswork to create a grand entrance that's unique to your home. A custom door is an investment that can make a big impact on the look and value of your home.

Pre-qualification and pre-approval are two different steps in the mortgage application process.

Pre-qualification is the initial step in the process, in which a lender will ask you for basic information about your income, debt, and assets. Based on this information, the lender will give you an estimate of how much you might be able to borrow. Pre-qualification is typically done online or over the phone and is a relatively quick process.

Pre-approval, on the other hand, is a more detailed process that involves submitting documentation to the lender to verify your income, assets, and creditworthiness. This typically involves filling out an application and providing documentation such as T-4's, tax returns, bank statements, and pay stubs. The lender will then review your application and credit history to determine how much they are willing to lend you and at what interest rate.

Pre-approval is more thorough than pre-qualification and provides a more accurate estimate of how much you can borrow. It also gives you a better idea of what your interest rate and monthly mortgage payment might be. Because pre-approval requires more documentation and a more detailed review by the lender, it typically takes longer than pre-qualification.

In summary, pre-qualification is a quick estimate of how much you might be able to borrow, while pre-approval is a more thorough process that provides a more accurate estimate of how much you can borrow and at what interest rate.

Reach out with your questions and if you need a mortgage broker, I can connect you to a like-minded individual.

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠

Watch Video
Source: Pre-Approval vs Pre-Qualifying For a Mortgage | Greater Calgary Real Estate | Feb 24th, 2023 

I am sharing with you highlights of some of the hottest home design trends experts are seeing this year. I also offer information on the ways some homeowners are incorporating colour and natural materials to create a warm and relaxed luxe environment in their home.

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠

The Bank of Canada has decided to maintain the overnight rate target at 4.5%, the Bank Rate at 4.75%, and the deposit rate at 4.5%. The Bank is also continuing its policy of quantitative tightening. The global economic environment is consistent with the Bank's January Monetary Policy Report, with inflation decreasing due to lower energy prices and global growth continuing to slow.

In Canada, economic growth was flat in the fourth quarter of 2022, and there was a significant slowdown in inventory investment. Consumption, government spending, and net exports all increased, but household spending was impacted by restrictive monetary policy, and business investment weakened.

The labour market remains tight, with employment growth strong, but productivity has declined. Inflation decreased to 5.9% in January due to lower energy prices, but price increases for food and shelter remain high.

The Bank expects CPI inflation to come down to around 3% in the middle of this year. The Bank will continue to monitor economic developments and the impact of past interest rate increases, and is prepared to raise the policy rate further if necessary to restore inflation to the 2% target. The Bank is committed to achieving price stability for Canadians.

Reach out with your questions about how this impacts your home buying or selling decision. And if you need a mortgage broker, I can connect to you a like-minded individual.

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠ 

Watch Video
Read Full Report 

Inflation typically means that the overall cost of goods and services in an economy is increasing. In the real estate market, this can lead to higher home prices as the cost of building materials, labor, and other expenses associated with buying and selling homes increases.

Additionally, if inflation is coupled with a strong economy, demand for housing may also increase, further driving up prices. However, it's important to note that inflation alone does not determine real estate prices, it is a complex market that is influenced by various factors.

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca

Watch Video
Source: What Does Inflation Mean For A Real Estate Market? | Greater Calgary Real Estate | Jan 27th, 2023

The real estate market has changed so much over the past 2 years and continues to do so! This month I am sharing details on some of the interesting trends we are seeing for 2023.

If you have any questions on these or any other real estate-related concerns, please feel free to reach out to me. I’ll be happy to help you out!

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠ 

The level of new listings in January fell to the lowest levels seen since the late 90s. Sales activity slowed compared to the high levels reported last year but remained consistent with long-term trends. Detached homes only comprised 47% of all sales.

With 2,451 units available in inventory, levels remain 43% lower than long-term trends for the month. Homes priced under $500,000 reported year over-year inventory declines of nearly 30% while inventory levels improved for homes prices above that level.

The benchmark price reached $520,900, 5% higher than last January, but still well below the May 2022 high of $546,000.

If you or someone you know have questions about how this may impact your home selling or buying decision, send me a message!

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠

Watch Video
Read Full CREB Market Report⁠
Home Evaluation Form
Start Home Search