New Listing in Quarry Park

I have listed a new property at 460 Quarry WAY SE in Calgary. See details here

This clean, open, and bright 3 storey bare land condo in "Bristol Townhomes of Quarry Park" is well suited to first time home buyers or those wanting to downsize from a house. With almost 1500 square feet of living area, this practical layout offers three bedrooms, den or flex space, 2.5 bathrooms, and a double attached garage. A few special features include quartz countertops, stainless appliances, upgraded light fixtures and hardware throughout. Quarry Way and the neighbourhood are well located, providing quick access to Bow River pathways, shopping, amenities, transit, business park, and major roadways. The professionally managed condo corporation with 35 units, includes landscaping and snow removal in the $315 monthly fee. Annual Quarry Park HOA fee of $246. Professional management by CMS Real Estate Ltd. This stylish, well-kept townhome is available for March possession.


A record breaking year for Calgary Home Sales

When 2022 began, home buyers could obtain a 5 year fixed mortgage in the range of 2.0% to 3.0%.  As the year comes to a close, mortgage rates have more than doubled.  With the Bank of Canada continuing to sharply increase the benchmark rate with another 50 basis points on December 7, property owners will face higher mortgage payments for the foreseeable future.  Not surprisingly, huge the volume of housing sales in the first quarter of 2022, has diminished as the fourth quarter closes out.  Nonetheless, the number of properties sold in Calgary for 2022 has set new records. 

In November, there was a 22% drop in sales, but this is 12% above long term averages and 10% above the record high mark set in 2021.  The benchmark price for a detached home is $619,700, falling just under 5% from the peak in May.  The benchmark price of apartment condos is up 10% to $277,000 over last year, remaining off the high point set in 2014.   A decline in sales for November was also met with a drop in listing supply.  At 3109 listings, this is the lowest inventory  since November 2005.   

Unlike Toronto and Vancouver, the future for housing sales in Calgary for 2023 is more optimistic.  Low listing inventory, strong migration, low unemployment and strong economic development,  Calgary has forward momentum going into January. 



Promising 2023 Outlook for Calgary

"The creation of well-paid jobs coupled with our relatively affordable housing market compared to cities like Toronto and Vancouver is helping attract talent to our city.  While our city is not immune to the challenges caused by inflation and higher lending rates, the positive momentum experienced over the past year is expected to support conditions that are far better then they were prior to the pandemic."

It has been a series of extreme highs and lows for Calgarians since 2016.  However, the consensus emerging is that the city will fair relatively well compared to other major Canadian cities as inflation and interest rates surge upwards.  One of our significant advantages is affordable housing.  


SOLD in 48 HOURS: 64 Aspen Hills Court SW

There were competing offers for this highly sought after cul-de-sac location. See details here

This updated home is situated in an exceptional CUL-DE-SAC location with WEST backyard and four houses away from PLAYGROUND. This ASPEN WOODS property is ideally suited to a young family wanting walking distance to SCHOOLS and a large, sunny pie lot on a quiet street. FULLY DEVELOPED, with an updated kitchen (white cabinets and stone countertops) and 5 1/2 inch white oak hardwood flooring on the main floor, this 3+1 bedroom home is bright and clean with NEUTRAL DECOR. The open concept main floor has a well laid out kitchen with walk-through pantry, eating bar, plus dining area and updated stainless appliances (2016). There is a main floor mudroom/laundry room with new washer and dryer. The upstairs includes a bright, big bonus room plus 3 bedrooms (all have WALK-IN CLOSETS). The developed basement has a wet bar with beverage fridge, large TV room area with adjacent gym room, 4th bedroom & full bath. Garage is insulated and drywalled. Newer hot water tank and water softener. The treed backyard with ample grass area is ideal for young children and includes a large, stamped CONCRETE PATIO and storage shed.


Inner City Two Bedroom Condo Just Listed

JUST LISTED 104 509 21 AVENUE SW in Calgary. See details here

Just a half block from 4th Street Mission District and 4 blocks from 17 Avenue, this two bedroom , two bath suite in a concrete building is perfect for those who embrace the "10" minute lifestyle. This freshly painted suite is spotless, offering numerous features including granite counters in the kitchen and baths, stainless appliances, mocha stained cabinetry, 9 foot ceilings, updated hardwood flooring (2015), gas fireplace, custom window coverings, air conditioning, large covered patio with BBQ gas line, and exterior door to provide direct access to the suite. The sleeping areas are separated by the main living area. The primary bedroom has a walk-through closet next to an ensuite bath. The spacious in suite laundry room provides ample extra closet space. A storage locker is adjacent to the titled, underground parking stall. This concrete, sprinklered, 23 suite complex permits small pets with board approval. The condo fee includes all utilities except suite electric, phone, and cable. Available for November occupancy.


Transforming Calgary's Downtown

MAY 2022:  Since the collapse of world energy markets in 2014, downtown Calgary has been in transition.  During the peak times, rates of parking downtown were some of the highest in North Amercica.  Those rates plummeted, in tandem with sharp increases of vacant prime office space.  The pandemic further exacerbated the decline in activity in Calgary's core. "Downtown office vacancy rates sat at 29.7 per cent in the final months of 2021". 

To reverse the blight and utilise empty buildings, Calgary is transforming commercial buildings into residential space.  The City of Calgary embarked on a plan and financial contribution for retrofitting three towers, providing 401 residential units.  Faced with a challenge, Calgary is being proactive to revitalise its downtown.  The method developed for Calgary to identity buildings suitable for retofits, is now being applied to convert commerical space in several US cities. 

READ MORE The office spaces transforming into luxury apartments

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