Seller's Market Continues into Spring Season

Sales volumes on MLS® jumped 23% with 2135 properties sold in February.  Prices were up 10% year-over-year.  Inventory of properties for sale in Calgary remain at historic lows, with just over one month of listing supply.  Meanwhile, new home builders are playing catch-up to meet demand, with total housing starts up 48% compared to last year.  If the pace continues, Calgary is expected to end the year with 25,000 new housing starts.  The February 2024 CREB® Sale Statistics include the following enchmark prices for February:

Detached $721,300     Semi-Detached $639,100     Apartment $329,600 

For buyers, especially those looking for properties in affordable price segments, the competition is fierce.  The province continues to attract strong migration.  Competing offers are commonplace, with some buyers foregoing conditions and paying 5 to 10% over the list price.   It is extremely important to have a focused buying strategy, with the ability to respond quickly when a property of interest comes to market.  Having deposit monies and approvals for financing in place  are critical to successfully purchasing a property in a seller's market.   Similarly, sellers must carefully prepare, present, and strategically price a property to optimize outcomes.  



A once in 56 years opportunity to buy this super prime and quiet position in the centre of Bel-Aire Estates may be exactly what you have been waiting for. The lot is 12,615 sq ft, 150 ft deep pie shape, with a highly coveted south backyard over 100 ft wide. The mature landscaping is thoughtful and has been very well maintained, a significant portion of which could easily survive either a substantial new build or a renovation/addition to the existing house. Designed by Wolfgang Wenzel, this Gapineau built centre-hall 3,000 sq ft 2 storey with 5 bedrooms up has been lovingly cared for. The 2009 addition of an elevator seamlessly accessing all 3 levels extended the opportunity of its ageing owners to happily continue their residency. The roof was replaced by Sunik Roofing with transferable warranty in 2021, and leaf screens for the gutters in 2023. Other than the foregoing and considerable redecorating over the decades, the house is in more or less original condition. The Seller is an Estate and as such the Executor is offering the house and the property in “as-is, where-is” condition. The property is priced to accommodate the Buyer wishing to renovate or build their forever new home from scratch. 

Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
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.