Calgary Real Estate Market Update

Sales in 2023 did ease relative to last year's peak, but with 27,416 sales, levels were still far higher than long-term trends and activity reported before the pandemic. 

While sales stayed relatively strong, there was a notable shift in activity toward more affordable apartment condominiums style homes. 

“Higher lending rates dampened housing demand this year, but thanks to strong migration levels, housing demand remained relatively strong, especially for affordable options in our market,” said CREB^® Chief Economist Ann-Marie Lurie.

“At the same time, supply levels were low compared to the demand throughout the year, resulting in stronger than expected price growth.”

Inventory levels were persistently below long-term trends for the city throughout most of the year, averaging a 44 per cent decline over the 10-year average.

We also saw the months of supply remain well below two months throughout most of the year across homes priced below $1,000,000.

The persistently tight conditions contributed to our city's new record high price. While the average annual benchmark price growth did slow from 12 per cent in 2022 to nearly six per cent growth in 2023, the price growth was still relatively strong especially compared to some markets in the country.

To read the full stats release on December's housing market for Calgary and surrounding areas or to get a neighbourhood specific report, please contact me.

Happy New Year!

I am beyond grateful for all the support and love from all my family, friends and clients in the past year. I could not do this job without you!

CIR Monthly Contest

Upcoming Events in Calgary

• Calgary Renovation Show - January 12

• Calgary RV Expo - January 25

• Calgary Hitmen Home Games - January 12, 14, 19, 21, 26, 28

• Calgary Flames Home Games - January 9, 16, 18, 20, 23, 25, 27

• Winter Sleigh Rides at Boundary Ranch

• Canadian National Skating Championships - January 8-14

• Broadway Across Canada “Mean Girls” - January 16-21

Small Businesses Interviews

Check out my YouTube Channel Small Business Interview Series. A brief and fun conversation about their business and their expertise in a lighthearted way.

If you know anyone that could benefit or would be interested in being interviewed, please forward this email or send me a message!

January Weather: Prepare yourself!

I guess we can’t really complain about the recent weather we have been having. 10C degrees in December, rain on New Year’s Eve?? But, all good things must come to an end, winter is coming in swift. Here are some ideas to keep your home working well during these cold days:

1. Humidity Control: Adjust the humidity levels in your home to avoid excessive moisture, which can lead to condensation and potential damage. Turn down humidifiers and use exhaust fans in bathrooms and kitchens to control moisture.

2. Insulation Inspection: Ensure proper insulation in the attic and walls to retain heat and reduce energy costs. Consider upgrading insulation if necessary, especially in older homes.

3. Furnace Maintenance: Schedule a professional inspection and maintenance for your heating system before winter sets in.

   Replace or clean furnace filters regularly to ensure efficient operation.

   Consider investing in a smart thermostat to regulate temperature and save energy.

4. Sealing Drafts: Check doors and windows for drafts and apply weather stripping or sealant as needed. Install draft stoppers at the base of exterior doors to prevent cold air infiltration.

5. Fireplace Maintenance: Schedule a professional chimney sweep to clean and inspect your fireplace and chimney. Use seasoned wood for burning and ensure proper ventilation to prevent creosote buildup.

6. Pipes Protection: Insulate exposed pipes to prevent freezing and potential bursts. Allow faucets to drip slightly to keep water flowing and reduce the risk of frozen pipes.

7. Emergency Preparedness: Stock up on essentials, such as extra blankets, flashlights, and non-perishable food items. Know the location of your water and gas shut-off valves in case of emergencies.

Your referral means the world to me