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NOVEMBER 2023 HOUSING MARKET UPDATE

December 1, 2023

Increased listings, strong sales, and price growth

New listings in November reached 2,227 units, nearly 40 per cent higher than the exceptionally low levels reported last year at this time. Gains in new listings occurred across most price ranges, but the most significant gains occurred from homes priced over $600,000.

Despite the year-over-year jump in new listings, inventory levels remained low thanks to relatively strong sales. With 1,787 sales in November, the sales to new listings ratio remained high at 80 per cent, and the months of supply remained below two months.

“Like other large cities, new listings have been increasing,” said CREB® Chief Economist Ann-Marie Lurie. “However, in Calgary, the gains have not been enough to change the low inventory situation thanks to strong demand. Our market continues to favour the seller, driving further price growth.”

As of November, the benchmark price was $572,700, up over last month and nearly 11 per cent higher than November 2022. Year-to-date, the average benchmark price has risen by over five per cent.

Detached

Limited supply choice for homes priced below $700,000 has been the primary cause of the decline in detached home sales. While November reported a marginal gain over last year, year-to-date sales have declined by 20 per cent. November saw a rise in new listings compared to the previous year, but higher-priced homes drove most gains. This has left the detached market with exceptionally tight conditions for prices below $700,000 and more balanced conditions for higher-priced homes. Overall, the month of supply remains exceptionally low at under two months.

Persistently tight conditions continue to cause further price gains in the detached market. As of November, the unadjusted benchmark price reached $699,500, a slight increase over last month and over 13 per cent higher than last November. While detached home prices are much higher than last year's levels in every district, year-to-date gains are the highest in the most affordable districts of the North East and East. 
 

Semi-Detached

November saw a boost in new listings compared to last year, helping to prevent a year-over-year decline in inventory levels. However, inventory levels are still over 40 per cent below typical levels seen in November. With a sales-to-new-listings ratio of 77 per cent and a month-of-supply below two months, conditions remain exceptionally tight, especially for homes priced below $700,000. 

Despite tight conditions, benchmark prices remained stable compared to last month. However, at an unadjusted benchmark price of $628,700, prices are still over 12 per cent higher than last year. The year-to-date average benchmark price has risen by nearly seven per cent, with the largest gains occurring in the North East and East districts.
 

Row

New listings rose again this month compared to last year. The 370 new listings were met with 267 sales, and for the first time since 2021, the sales-to-new-listings ratio fell below 75 per cent. The jump in new listings was enough to support a gain in inventory levels compared to last month and last year. While inventories are still nearly half the levels we traditionally see, this did help cause the months of supply to push up to 1.6 months, a significant improvement from the less than one month of supply that has persisted over the past seven months. While conditions are much more balanced in the higher price ranges, there is less than one month of supply for homes priced below $500,000.

Despite the shift away from exceptionally tight conditions, prices still rose over the last month and last year. As of November, the unadjusted benchmark price reached $429,100, 21 per cent higher than last November and an average year-to-date gain of nearly 13 per cent.
 

Apartment Condominium

Thanks to the relative affordability of the apartment-style homes, sales continued to reach record highs in November, contributing to year-to-date sales of 7,487. With one month left in the year, sales have already surpassed last year’s record high. This, in part, was possible thanks to the growth in new listings. While inventory levels are similar to levels reported last year, with less than two months of supply, conditions still favour the seller, placing further upward pressure on prices. 

The unadjusted November benchmark price reached $320,100 in November, a monthly gain of over one per cent and a year-over-year increase of 18 per cent. Year-to-date price gains have occurred across every district in the city, with some of the largest gains arising in the lower-priced North East and East districts.
 
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New property listed in Chaparral, Calgary

I have listed a new property at 46 Chaparral TERRACE SE in Calgary. See details here

1923 sq ft 3 bedroom 2 story with parklike private back yard on quiet street location in Popular Chaparral!! Front flex room can be a dining room or den. Kitchen features generous white cabinets, lots of counter space, large corner pantry, white appliances, gas range, and phone desk open to and joining the breakfast nook area with sliding doors to the amazing back deck and fenced botanical backyard. Living room area is open to the kitchen. Bright open area with large window and tile gas fireplace. Off front hall 2 pce bath with laundry area. Up to the second level you find an extra large bonus room with vaulted ceilings. perfect area for relaxing with tv or a good book, kids can have their own video game area. 3 bedrooms up, 4 pce bath plus Primary with 4 pce ensuite and large walk in closet. Basement area is unfinished and has roughed in plumbing, ready for your imagination. Enjoy summer with central air conditioning. Yard is like a private plant reserve with a huge variety of plants, pond and stream and shrubs. Outside shed for extra storage. Great family community with lake and all amenities. Public and Catholic Schools nearby. Home has newer asphalt shingles and newer siding. Gas BBQ outlet on deck.

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New property listed in Discovery Ridge, Calgary

I have listed a new property at 26 Discovery Ridge VIEW SW in Calgary. See details here

Stunning walk-out bungalow themed with bright and spacious functionality sits perched on a ridge in a private cul-de-sac with sunny south facing views, situated on a green belt. This custom-built home by Maillot Homes offers 2,950 square feet of developed living space, beautiful curb appeal with estate exterior finishes and an impressive high-pitch roof line. Enjoy an over-size double car garage measuring 23x24 ft with natural light from large stained-glass windows paired with an extended front driveway and extra parking. The garage extension and overhead lights would make a great workshop. Step into a spacious receiving area and be greeted with a bright and open floor plan, and experience soaring geometric vaulted ceilings/sky lights. Off the entry sits a massive custom designed laundry area with windows and cabinetry (formerly a den but would easily be converted back with the laundry moved back to the pantry). The formal dining room is definitely "family sized" and capable of hosting those large special occasions and is complimented by a recessed hutch/art niche area. The kitchen is genuinely amazing and features rich generous maple cabinetry, an abundance of raised granite counter space, and sits surrounded by lighter contrasting maple hardwood floor. Look up anytime to 16' full height vaulted ceilings. Groceries are easy with a walk-through pantry to the kitchen. A full high-end appliance package (gas stove-top), slate tile backsplash, and a handcrafted wood hood fan are all an added touch suited to every gourmet chef. The back of the main level opens to an extra-large outdoor living space where the deck runs the entire width of the home and the whole back exterior bathes in the sunny south exposure! Living room area, as with all the space on the main floor offers towering, vaulted ceilings and customized stained glass accented windows with arched tops. The primary bedroom is enormous and is positioned at the back of the home to take advantage of the both the views and sunlight and has an adjoining 5-piece bathroom (with soaker tub and separate shower) and a walk-in closet. Getting ready is easy with an extended vanity featuring two sinks, and a separate toilet location. The lower level comes with no detail overlooked and has a walk-out to a magnificent award wining garden area and covered patio. Accessed by an elegant open staircase into a games room area with vast space for entertaining, and is large enough for billiards, or foosball, or to make a large family area to cozy up in front of the fireplace and relax. No cold feet here. The walk-out level is multi-zoned with in-floor heat throughout. Equipped with a second large bedroom, a 4-piece bath, den, and storage space, this plan is fully utilized and perfect for guests or your older teenager. The utility area is quite large, and if more finished space is desired, there is an opportunity to add more here. This home is truly a stunner, and worth a look. Easy access for your appointment!

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Open House. Open House on Saturday, November 18, 2023 2:00PM - 4:00PM
Stop by and check out this amazing home!

Please visit our Open House at 26 Discovery Ridge VIEW SW in Calgary. See details here

Open House on Saturday, November 18, 2023 2:00PM - 4:00PM Stop by and check out this amazing home!

Stunning walk-out bungalow themed with bright and spacious functionality sits perched on a ridge in a private cul-de-sac with sunny south facing views, situated on a green belt. This custom-built home by Maillot Homes offers 2,950 square feet of developed living space, beautiful curb appeal with estate exterior finishes and an impressive high-pitch roof line. Enjoy an over-size double car garage measuring 23x24 ft with natural light from large stained-glass windows paired with an extended front driveway and extra parking. The garage extension and overhead lights would make a great workshop. Step into a spacious receiving area and be greeted with a bright and open floor plan, and experience soaring geometric vaulted ceilings/sky lights. Off the entry sits a massive custom designed laundry area with windows and cabinetry (formerly a den but would easily be converted back with the laundry moved back to the pantry). The formal dining room is definitely "family sized" and capable of hosting those large special occasions and is complimented by a recessed hutch/art niche area. The kitchen is genuinely amazing and features rich generous maple cabinetry, an abundance of raised granite counter space, and sits surrounded by lighter contrasting maple hardwood floor. Look up anytime to 16' full height vaulted ceilings. Groceries are easy with a walk-through pantry to the kitchen. A full high-end appliance package (gas stove-top), slate tile backsplash, and a handcrafted wood hood fan are all an added touch suited to every gourmet chef. The back of the main level opens to an extra-large outdoor living space where the deck runs the entire width of the home and the whole back exterior bathes in the sunny south exposure! Living room area, as with all the space on the main floor offers towering, vaulted ceilings and customized stained glass accented windows with arched tops. The primary bedroom is enormous and is positioned at the back of the home to take advantage of the both the views and sunlight and has an adjoining 5-piece bathroom (with soaker tub and separate shower) and a walk-in closet. Getting ready is easy with an extended vanity featuring two sinks, and a separate toilet location. The lower level comes with no detail overlooked and has a walk-out to a magnificent award wining garden area and covered patio. Accessed by an elegant open staircase into a games room area with vast space for entertaining, and is large enough for billiards, or foosball, or to make a large family area to cozy up in front of the fireplace and relax. No cold feet here. The walk-out level is multi-zoned with in-floor heat throughout. Equipped with a second large bedroom, a 4-piece bath, den, and storage space, this plan is fully utilized and perfect for guests or your older teenager. The utility area is quite large, and if more finished space is desired, there is an opportunity to add more here. This home is truly a stunner, and worth a look. Easy access for your appointment!

Read

Open House. Open House on Sunday, November 19, 2023 2:00PM - 4:00PM
Stop by and check out this amazing home!

Please visit our Open House at 26 Discovery Ridge VIEW SW in Calgary. See details here

Open House on Sunday, November 19, 2023 2:00PM - 4:00PM Stop by and check out this amazing home!

Stunning walk-out bungalow themed with bright and spacious functionality sits perched on a ridge in a private cul-de-sac with sunny south facing views, situated on a green belt. This custom-built home by Maillot Homes offers 2,950 square feet of developed living space, beautiful curb appeal with estate exterior finishes and an impressive high-pitch roof line. Enjoy an over-size double car garage measuring 23x24 ft with natural light from large stained-glass windows paired with an extended front driveway and extra parking. The garage extension and overhead lights would make a great workshop. Step into a spacious receiving area and be greeted with a bright and open floor plan, and experience soaring geometric vaulted ceilings/sky lights. Off the entry sits a massive custom designed laundry area with windows and cabinetry (formerly a den but would easily be converted back with the laundry moved back to the pantry). The formal dining room is definitely "family sized" and capable of hosting those large special occasions and is complimented by a recessed hutch/art niche area. The kitchen is genuinely amazing and features rich generous maple cabinetry, an abundance of raised granite counter space, and sits surrounded by lighter contrasting maple hardwood floor. Look up anytime to 16' full height vaulted ceilings. Groceries are easy with a walk-through pantry to the kitchen. A full high-end appliance package (gas stove-top), slate tile backsplash, and a handcrafted wood hood fan are all an added touch suited to every gourmet chef. The back of the main level opens to an extra-large outdoor living space where the deck runs the entire width of the home and the whole back exterior bathes in the sunny south exposure! Living room area, as with all the space on the main floor offers towering, vaulted ceilings and customized stained glass accented windows with arched tops. The primary bedroom is enormous and is positioned at the back of the home to take advantage of the both the views and sunlight and has an adjoining 5-piece bathroom (with soaker tub and separate shower) and a walk-in closet. Getting ready is easy with an extended vanity featuring two sinks, and a separate toilet location. The lower level comes with no detail overlooked and has a walk-out to a magnificent award wining garden area and covered patio. Accessed by an elegant open staircase into a games room area with vast space for entertaining, and is large enough for billiards, or foosball, or to make a large family area to cozy up in front of the fireplace and relax. No cold feet here. The walk-out level is multi-zoned with in-floor heat throughout. Equipped with a second large bedroom, a 4-piece bath, den, and storage space, this plan is fully utilized and perfect for guests or your older teenager. The utility area is quite large, and if more finished space is desired, there is an opportunity to add more here. This home is truly a stunner, and worth a look. Easy access for your appointment!

Read

New property listed in Crescent Heights, Calgary

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I have sold a property at 3712 58 AVENUE SW in Calgary

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An exceptional opportunity to live on a tree-lined street in Lakeview, one of Calgary's Best Neighbourhoods* (*Avenue Magazine 2023). Lakeview is an outdoor enthusiasts dream with close proximity to North Glenmore Park and Reservoir, the Weaselhead natural area and the Earl Grey golf course as well as being just a short stroll from the elementary and junior high schools, the off leash dog park, the Calgary Canoe Club, the winter skate track, and 20 kms of bike trail! All this plus easy access to all parts of the city via Crowchild, Glenmore and Stoney Trails. This 4 bedroom, 2 bathroom family home has had lots of upgrades over the years including a renovated kitchen and main floor bathroom in 2018, new hot water tank in 2018, several windows in 2015, shingles in 2013 + furnace, air conditioner and Kinetico water softening system in 2005. The main floor features an inviting living room, thoughtfully designed kitchen and dining area, a huge primary bedroom, a second bedroom and a 4 piece main bath with extensive tile work. The walkout basement was renovated in 2002 to feature two more bedrooms, a spacious family room with gas fireplace, a 3 piece bathroom and plenty of storage. The private park-like backyard provides a wonderful outdoor living space and features a two tiered deck, an oversized double detached garage with 220V power and a gas heater and a 25 foot deep RV parking spot. One look at this property and you will want to call it "home". Schedule your private viewing today!

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I have sold a property at 325 26 Val Gardena VIEW SW in Calgary

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Welcome to the prestigious Springbank Hill community! This property boasts numerous sought-after amenities, including walkout patio onto green space, a designated underground parking, and a private titled storage locker. This residence offers captivating views of both the southern and eastern horizons. As you step inside, you'll immediately appreciate the 9-foot ceilings, a convenient breakfast bar, and expansive bay windows that flood the living space with natural light. The well-thought-out open floor plan delineates distinct living and dining areas, ensuring comfortable living and entertaining. In the generously appointed kitchen, you'll find an abundance of storage and counter space to meet all your culinary needs. A dedicated laundry/storage room adds further convenience to your daily routine. The large windows throughout the unit not only provide ample natural light but also grant access to a private patio that opens onto lush green space, ensuring privacy and tranquility without the intrusion of neighboring views. The bright and thoughtfully designed primary bedroom features a luxurious 4-piece ensuite bath, a large window for abundant daylight, and an overhead fan to keep you cool during the summer months. The second bedroom also boasts a sizable window and shares access to a well-appointed 4-piece bathroom with ample cabinetry, ideal for your storage and organizational needs. This apartment is the ideal haven for work-from-home professionals and presents an excellent investment opportunity. Additionally, the complex offers a convenient fitness area, meaning you can enjoy a quick and easy commute to the gym without leaving the comforts of home. Don't miss the chance to make this exceptional residence yours. Schedule your showing today!

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I have sold a property at 18 185 Woodridge DRIVE SW in Calgary

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Wow! Bungalow villa backing onto green area! This beautiful villa is located in a private cul de sac next to Fish Creek Park. Large front entry with two closets opens up to the bright south facing living room with brick fireplace nestled between two floor to ceiling windows for lots of natural light. Laminate flooring for durability and function. This area over looks the green area that joins the park. Open to the living room is the family size dining room with patio doors to large outdoor deck area. Kitchen is very spacious with eating area and center island with counter top range and breakfast bar. Generous rich cabinets, lots of counter space, black appliances and laminate floor. Main floor also has the primary bedroom with south facing windows and recently upgraded 5 pce ensuite bath plus 2 large closets. Front bedroom also has two closets, corner window and is located next to 3 pce bath upgraded bath. Downstairs has a very large rec room/family room area, large bedroom with newly installed legal egress window, 3 pce bath, a work shop and extra large utility area with laundry. This beautiful home is close to all amenities, just steps to all the beauty of Fish Creek Park with walking trails and green space. Stay warm in winter with the heated garage.

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I have sold a property at 75 2319 56 STREET NE in Calgary

I have sold a property at 75 2319 56 STREET NE in Calgary. See details here

UPGRADED WINDOWS, NEW APPLIANCES, AND $ 30K WORTH OF RENOVATIONS. Presenting your Fully Renovated residence in the Pineridge Community The primary level showcases rich laminate flooring, directing you to a modern kitchen with polished stainless steel appliances, an industrial-quality under-mount sink, chic high gloss white cabinets, and elegant granite countertops paired with tile backsplashes, a design echoed in the bathrooms. The expansive living area is featured by generous windows, flooding the room with ample sunlight, and is paired with a 2-piece guest bathroom.The dining area seamlessly leads to a easy-care backyard. Upstairs, discover a master suite featuring dual closets alonside two additional well sized rooms, and a full bathroom. The lower level offers a expansive family room, a dedicated den/office space, and a laundry zone furnished with brand-new Samsung washer and dryer units. This home is near the bus stop, just a minute's walk, making trips to Rundle Station easy. Peter Lougheed Hospital, Trans Canada Highway, and Sunridge Mall are only 5 minutes away. Stoney Trail is 10 minutes by car. Nearby are schools for all ages, with many in walking distance. Don't wait, view this property now!

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New property listed in Woodlands, Calgary

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I have sold a property at 174 Sierra Nevada GREEN SW in Calgary

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This wonderful 5-bedroom bungalow rests on a private lot, and quiet street in the heart of the Richmond Hill area of the Signal Hill Community. A beautiful front veranda provides this home with character and curb appeal. The front living room area/dining room/kitchen area is an open concept, complimented with natural light from the addition of sky lights. All made cozy with a gas fireplace with ceramic tile surround and a mantle as a feature in the living room area. Extras such as a large, recessed hutch area, and updated kitchen with generous white contemporary cabinets, stainless steel appliances and Central Air conditioning keep this home modern. Outdoor living is easy with a garden door to very private treed west back yard, and a recent addition of a low maintenance back deck. Past the open staircase near the entry sit 3 bedrooms on the main level, with quick access to a renovated 3-piece bathroom for the 2 additional bedrooms. No hauling clothes up and down the stairs here, thanks for a main floor laundry area and mudroom. Of special note is the direct access from the Master bedroom to the back deck area, a walk-in closet for your wardrobe, and a renovated 3-piece en-suite bathroom with a glass shower. Downstairs you have a very well laid out floor plan with 2 additional bedrooms, with large windows and closets, and a supplementary 4-piece bathroom, along with a large recreation area, and storage room. Signal Hill is known for its quick access to mountains, proximity to the LRT, shopping, options for schools and various amenities. Easy to show, but not too early in the morning, or late at night. Book your viewing today!

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