CREB®’s Q1 2021 Housing Report Released

Table of Contents:

City of Calgary, April 20, 2021 – The economic challenges associated with COVID-19 brought about a dramatic rate cut from the Bank of Canada and an even more significant drop in the discount rates for mortgages.

The low-interest-rate environment, combined with pent-up demand and increased savings among those who remained employed throughout the pandemic, is supporting stronger-than-expected gains in resale sales activity.

By the end of the first quarter, there were 5,945 sales in Calgary, 43 per cent higher than the 10-year average and the best start to the year since 2007.

“Sales activity is currently exceeding expectations. However, rising prices are expected to support new listings growth and also impact the pace of sales growth especially if discount rates continue to rise. This will help eventually support more balanced conditions,” said CREB® chief economist Ann-Marie Lurie.

New listings rose to the highest first-quarter levels seen in over a decade, but it did little to move overall inventory levels, which averaged 4,687 units in the first quarter. This kept market conditions exceptionally tight, with citywide months of supply of just over two months.

The tightening conditions that started halfway through last year have caused prices to trend up, with the pace of growth rising in the first quarter of this year. This price growth was enough to push quarterly prices four per cent higher than the first quarter of last year.

“This price growth has been counterintuitive to many, considering the job loss and economic challenges that face this province and city. However, we also need to keep in mind that this is still a story of recovery for prices, which currently remain well below the highs recorded in 2014.”

CITY OF CALGARY HOUSING SUMMARY

Prior to COVID-19, the economic challenges in our city created an environment of weak resale housing demand. When adjusting sales relative to the population from 2018-19, it was the slowest sales per capita on record. Over this same period, the housing market was struggling with excess supply and declining prices.

The economic challenges associated with COVID-19 brought about a dramatic rate cut from the Bank of Canada and an even more significant drop in the discount rates for mortgages. The low-interest-rate environment is supporting stronger-than-expected gains in resale sales activity. By the end of the first quarter, there were 5,945 sales in Calgary, 43 per cent higher than the 10-year average and the best start to the year since 2007.

New listings also rose in the first quarter to the highest first-quarter levels seen in over a decade, but it did little to move overall inventory levels, which averaged 4,687 units in the first quarter. This kept market conditions exceptionally tight, with citywide months of supply of just over two months.

The tightening conditions that started halfway through last year have caused prices to trend up, with the pace of growth rising in the first quarter of this year. This price growth has been counterintuitive to many, considering the job loss and economic challenges that face this province and city. However, in comparison to many parts of the country, this is still a story of price recovery and not record highs. Even with the recent gains, quarterly benchmark prices remain over seven per cent lower than the highs recorded in 2014.

The recent gains in prices are expected to continue to boost new listings, supporting some supply growth into the next quarter. This should help shift the market back toward balanced conditions by the end of the year. 

While the Bank of Canada is not expected to increase rates, there have been some recent gains in discounted mortgage rates. Additionally, there is some indication by the Office of the Superintendent of Financial Institutions (OSFI) they will be increasing the qualification rate for uninsured mortgages. If these conditions occur, we could see an impact on sales later in the year. Nonetheless, sales activity is expected to remain relatively strong on an annual basis.

ECONOMIC UPDATE

Unsurprisingly, COVID-19 continued to weigh on economic activity in the first quarter. Despite some changes in restrictions throughout the quarter, Alberta largely maintained strict gathering, travel and business occupancy restrictions.

This is weighing on economic activity and migration, but higher-than-expected energy prices are supporting some improvements in the energy sector. For the job market, this has produced mixed results.

Improvements in the energy sector have translated into job growth in both the primary and utilities sector and the professional, scientific and technical services. Those two industries combined saw 9,000 more jobs this quarter than what we had in the last quarter of 2020. There were also significant gains in the educational services sector, which recorded over 14,000 new jobs in the first quarter compared to the last quarter of 2020.

Some sectors continue to struggle. Quarterly job loss was recorded in sectors impacted by restrictions, including entertainment, food, transportation, wholesale trade and other services. There was also significant job loss in public administration positions and manufacturing. Job losses in these sectors offset the gains and Calgary saw nearly 8,000 jobs lost overall compared to the fourth quarter of 2020.

Vaccinations are rising, but the recent spike in COVID-19 variant cases will likely result in restrictions persisting throughout most of the second quarter. This is also causing some shifts in the employment forecast, with job improvements now being delayed into the third and fourth quarters of this year. Despite these shifts, a stronger-than-expected energy sector has sped up the predicted pace of full post-pandemic job recovery from 2023 to next year.

HOUSING MARKET DETACHED

Detached homes sales rose to record their best first quarter since 2014.

Improving sales started last year in this market, but much of the gains were driven by lower-priced homes. Moving into the first quarter, sales activity not only improved in the lower price ranges, but in the upper price ranges as well. Low lending rates and the desire for more space have driven up demand for detached homes, which had struggled prior to COVID-19.

The rise in new listings in the first quarter helped support some of the sales growth. The gap between sales and new listings widened in the first quarter, especially compared to last quarter, but inventories still trended down on a quarterly basis and were well below levels traditionally seen at this time of year.

The months of supply for the first quarter averaged less than two months. This reflects some of the strongest sellers’ market conditions seen in the detached sector and is well below balanced levels. The tight market conditions have supported some of the highest price gains relative to other product types, as citywide prices trended up by nearly three per cent relative to last quarter and were over five per cent higher than prices recorded in the first quarter of last year.

Sellers’ market conditions were fairly prevalent across most districts of the city, with the months of supply below two months for all districts except the City Centre. Most districts also recorded yearover-year price gains of more than three per cent, with the strongest first-quarter gains occurring in both the North and South East districts at over eight per cent.

The City Centre has lagged behind some of the other districts due to oversupply that was the highest relative to the rest of the city prior to the pandemic. However, recent declines in inventories and improvements in sales have supported some modest price gains in the district this quarter.

HOUSING MARKET SEMI-DETACHED

Thanks to growth across all districts in the city, sales activity for semi-detached homes reached record levels in the first quarter. Less choice in the lower-priced detached market has likely caused many to turn to the semi-detached sector.

However, increasing new listings in the first quarter were not enough to offset the growth in sales and inventory levels eased relative to the previous quarter and the same period last year.

Inventory reduction and recordhigh first-quarter sales caused the months of supply to drop below two months in the first quarter. This is significantly lower than the five months recorded last year, as well as the typical levels recorded in the first quarter, which is closer to four months of supply.

With the conditions shifting to favour the seller, prices have trended up for three consecutive quarters. The benchmark price in the first quarter of this year rose above $400,000, over three per cent higher than this time last year.

The areas with the tightest market conditions generally recorded the largest yearover-year price gains. However, the North district recorded the largest year-overyear gain at over seven per cent and is the only district to reach a record-high quarterly price at $342,700. Prices continued to ease in the West district, with a year-over-year decline of over two per cent.

HOUSING MARKET ROW

Sales in the first quarter totalled just under 800 units, making it the strongest first quarter for sales since 2007.

However, new listings also rose to relatively high levels. The pace of sales growth outpaced the growth in new listings, slowing the typical quarterly gains in inventories and causing inventories to ease relative to last year. Despite the year-over-year declines, inventories remain elevated relative to the levels recorded prior to the economic downturn caused by the energy sector back in 2014.

Strong sales growth and easing inventory levels caused the months of supply to trend down to three months, the lowest level seen in over five years. The months of supply for this sector has been trending down over the past several quarters, but it was only in the past two quarters that levels were either consistent with or below longer-term trends.

As this segment of the market is generally more balanced relative to the detached sector, price gains have stayed at moderate levels. Prices have been trending up over the past three quarters and now sit over one per cent higher than prices from the first quarter of 2020.

However, price movements have varied across each district. The most significant year-over-year gain occurred in the City Centre at over six per cent, pushing this district much closer to price recovery.

Prices remained lower than last year’s levels in the North, North West and South East districts. This could be related to competition from new builds in those areas, placing some limits on resale prices.

HOUSING MARKET APARTMENT

This product type remains far from record highs, but apartment condominium sales improved in the first quarter and are at the highest levels seen since 2014.

The rise in sales was met with a gain in new listings. However, unlike other sectors, the gain in new listings was enough to keep the sales-to-new-listings ratio relatively low in the 40 per cent range. Inventories also trended up slightly compared to last quarter and remained higher than last year’s levels.

Despite the inventory gain, this market did see a reduction in the months of supply. When considering a quarterly average, the months of supply eased to just over five months in the first quarter, an improvement relative to the previous quarter and to the first quarter of last year, when it was above seven months.

As the months of supply is trending down, we are starting to see some signs of improvement in prices. At a benchmark price of $247,167, apartment condominium prices are similar to levels recorded last quarter and are one per cent higher than last year’s levels.

Despite the recent shifts, prices remain nearly 18 per cent below previous highs from 2014. There is also variation in pricing activity based on location. Yearover-year price gains were the highest in the North East district at nearly eight per cent, followed by the South district at four per cent.

Meanwhile, prices were relatively stable for both the City Centre and North West districts. The only district to record further price declines was the South East.

For more information on stats, view the Q1 2021 Report PDF: Q12021Report.pdf


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AIRDRIE

For the third quarter in a row, sales reached new record highs . Most of the gains in the first quarter were driven by exceptionally strong detached home sales.

While low interest rates have been driving much of the growth in housing demand, Airdrie also benefits from its relative affordability compared to Calgary. This relative affordability and the growing services and businesses within the city are contributing to significant growth in population.

Over the 2019-20 measurement period, Airdrie’s population topped 75,000 people, a four per cent improvement over the previous year . A potential shift towards more permanent flexible work arrangements could support housing demand growth in the city .The exceptionally strong sales that started in the second half of last year have outpaced any growth in new listings, as inventory levels are well below levels recorded over the past six years . COVID-19 also impacted the new-home construction sector last year, limiting potential supply pressure coming from that segment of the market.

Strong demand and lower inventory levels have contributed to a steady decline in the months of supply .In the first quarter, the months of supply averaged less than two months, which is tighter than anything seen last year . This is well below historical averages and nearly as tight as levels seen in 2014.

Persistent sellers’ market conditions are contributing to gains in home prices . Total residential prices have risen over the past three quarters, with the strongest quarterly gain occurring in the first quarter of this year.

This has caused the first-quarter benchmark price to rise above $350,000, nearly seven per cent higher than last year. The gains were even stronger in the detached sector, which improved by over eight per cent compared to last year for a quarterly price of $391,733.

The recent gains in prices have narrowed the gap between the previous record-high prices, as detached home prices in the first quarter were only one per cent lower than the high levels reported in 2014.


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Cochrane

Cochrane sales have been exceptional strong since the second half of 2020 and this trend has continued in 2021, with first-quarter sales reaching a record high for any quarter.

Growth in sales at the end of last year was limited by the lack of new listings coming into the market, as the sales-to-new-listings ratio averaged above 90 per cent over the previous two quarters. In the first quarter there were nearly 400 new listings, helping support stronger sales. However, this was not enough to offset the exceptionally strong sales and inventories trended down for the third quarter in a row to the lowest first-quarter level since 2014.

Like other centres, supply levels could not keep pace with demand and the months of supply averaged less than two months in the first quarter. For Cochrane, this is the lowest months of supply recorded since before the financial crisis back in 2006.

New-home starts did rise at the end of last year, but given the current pace of demand it will take further supply gains from both the resale and new-home markets to help bring this market out of conditions that favour sellers . While months of supply trended down for all property types, the tightest conditions exist for detached homes.

Tight market conditions have supported rising prices in the market. Quarterly growth stabilized over the fourth quarter of last year due to some weaker pricing in January and February, but benchmark prices remain over four per cent higher than last year’s levels.


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Okotoks

Thanks to a recent bump in new listings, Okotoks sales activity in the first quarter rose to the best levels recorded in over a decade.

Over the past several quarters, demand was somewhat restricted by the lack of new listings coming onto the market. New listings did rise this quarter, but the strong sales response did little to change the persistent sellers’ market conditions.

Inventory levels have been exceptionally low for the town, remaining over 40 per cent lower than levels typically seen in the first quarter. Low inventory levels and strong sales caused the months of supply to average less than two months. This is significantly lower than longer-term trends that have seen an average of just over five months.

Tight market conditions have persisted for the past three quarters . Sellers’ market conditions have placed significant upward pressure on benchmark prices, which climbed from $414,000 in the second quarter of 2020 to over $442,000 in the first quarter of this year.

Prices currently sit over five per cent higher than last year’s levels and are comparable to previous highs . However, there are differences depending on product type, with most of the gains coming from the detached sector of the market.

There have been some improvements in the prices for higher-density product, but those sectors still have prices that remain well below previous highs.

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4
Beds
3F11/2
Baths
2,487
Sq.Ft.
2022
Year Built
2
Days on Site
A2084084
MLS®
Fully developed home offering a professionally completed basement with private side entry backing directly on to the pond and loaded with added style and upgrades! Showcasing 3600 square feet of...
$264,900
Neighbourhood: Heritage Okotoks
2
Beds
2
Baths
1,141
Sq.Ft.
2005
Year Built
2
Days on Site
A2085081
MLS®
WOW what a trendy condo situated in the heart of trendy downtown Okotoks, across the street from boutique shops, coffee shops and steps away from the Sheep River with all it's inter-connecting...
$399,000
Neighbourhood: Heritage Okotoks
2
Beds
1F11/2
Baths
1,008
Sq.Ft.
1979
Year Built
2
Days on Site
A2084697
MLS®
ATTENTION NEW HOME OWNERS INVESTORS AND ANYONE LOOKING FOR A SCREAMING DEAL.... THIS IS WITHOUT DOUBT (AND DEFINITELY ON THE MLS SYSTEM FOR THIS AREA), THE BEST CONDO DEAL IN OKOTOKS!! THERE...
$585,000
Neighbourhood: Sheep River Ridge
4
Beds
3F11/2
Baths
1,700
Sq.Ft.
1999
Year Built
3
Days on Site
A2083728
MLS®
We love Okotoks; great schools, small town feel with all the big city shopping and restaurants. This beautiful home is an instant favourite with 4 bedrooms (3 up, 1 down), 3.5 baths and double...
$600,000
Neighbourhood: Cimarron Park
3
Beds
2F11/2
Baths
1,858
Sq.Ft.
1999
Year Built
3
Days on Site
A2084871
MLS®
Location, location, location! This original owner walkout home sits on a massive pie lot, complete with RV parking, dog run, two full length decks with tons of space left over for a dream garage or...
$749,900
Neighbourhood: Wedderburn
4
Beds
3F11/2
Baths
2,700
Sq.Ft.
2023
Year Built
6
Days on Site
A2084550
MLS®
Welcome to this beautiful brand new Two Storey fully upgraded WALKOUT house in Okotoks. At the entrance, you are greeted by an office with a double door, in addition, to a living room, a family room...
$1,250,000
Neighbourhood: Air Ranch
5
Beds
4F11/2
Baths
3,497
Sq.Ft.
2013
Year Built
7
Days on Site
A2083700
MLS®
This rare and special property backs onto the green space of the airstrip in the desirable neighbourhood of Air Ranch. The home sits on a massive 80' x 139' lot with mountain views and has a long...
$664,000
Neighbourhood: Heritage Okotoks
4
Beds
2
Baths
1,496
Sq.Ft.
1968
Year Built
7
Days on Site
A2083891
MLS®
ONE OF A KIND !! Located in the heart of Okotoks, on a quiet street, this lovingly cared for, 1496 sq ft, 4 level split sits on over a fifth of an acre lot ( 75' X 120' ) with a massive ( 30' X 40'...
$869,900
Neighbourhood: Air Ranch
4
Beds
3F11/2
Baths
2,548
Sq.Ft.
2014
Year Built
7
Days on Site
A2076119
MLS®
The opportunity you've been waiting for! Meticulous 3+1 bedroom, 3.5 bath home, located on a large corner lot, on a quiet & safe crescent, bustling with families like yours - and backing South onto...
$888,000
Neighbourhood: Drake Landing
4
Beds
3F21/2
Baths
1,463
Sq.Ft.
2018
Year Built
7
Days on Site
A2083416
MLS®
**OPEN HOUSE Sunday, October 1st, 1-4pm** Introducing this custom contemporary 4 bedroom bungalow nestled on a serene, tranquil street with the added allure of a picturesque pond as its backdrop,...
$947,000
Neighbourhood: Cimarron Estates
2
Beds
2F11/2
Baths
1,564
Sq.Ft.
10
Days on Site
A2082632
MLS®
An incredible opportunity to own a brand new bungalow in Cimarron Estates situated on a 1/3 of an acre pie lot! Featuring nearly 1,600 square feet of living space on one level with 2 bedrooms, 2.5...

Chestermere

Sales reached a record high by the end of the first quarter. While the typical detached home in Chestermere is priced higher than the typical home in Calgary, it is also generally larger and newer.

Low interest rates and the desire for additional space among many buyers have helped create the strong demand seen in this town.

Like in many other centres, Chestermere’s improvements in new listings in the first quarter were not enough to fully offset the gains in sales. As a result, inventories remained low relative to levels we typically see in the first quarter of the year. This caused the months of supply to drop to just under three months, the lowest level recorded in the first quarter since 2006.

This is not as tight as in some of the other surrounding areas, but Chestermere typically records a month of supply closer to seven months in the first quarter.

Tighter market conditions have been causing prices gains in this market . Benchmark prices have risen by over two per cent each quarter since the third quarter of 2020.

By the end of the first quarter in 2021, benchmark prices pushed up to $509,900, nearly seven per cent higher than last year’s levels. The gains were even higher in the detached sector, where year-over-year gains surpassed eight per cent for a new quarterly record at $531,033

125 Properties
Page 1 of 11
$949,700
Neighbourhood: Kinniburgh
6
Beds
3F11/2
Baths
2,742
Sq.Ft.
2012
Year Built
1
Day on Site
A2085041
MLS®
Welcome to this beautiful, show-stopping home with over 4000 SF of living space in the desirable community of Chestermere. This gem is situated on over 7000 Sq/ft lot. This home has !AC & a Spice...
$949,900
Neighbourhood: South Shores
4
Beds
4
Baths
2,560
Sq.Ft.
2023
Year Built
1
Day on Site
A2084523
MLS®
BRAND NEW HOME - HARDIE BOARD EXTERIOR - TOTAL 4 BEDS (POTENTIAL FOR 5) & 4 BATHROOMS - 2 ENSUITE MASTER BEDROOMS WITH 2 ADDITONAL BEDROOMS, LARGE WALK IN CLOSET - LATEST FURNISHINGS, STAINLESS STEEL...
$899,900
Neighbourhood: Kinniburgh
5
Beds
4
Baths
2,911
Sq.Ft.
2022
Year Built
1
Day on Site
A2085219
MLS®
SPICE KITCHEN! FULL BATH AND OFFICE/BEDROOM ON MAIN! TRAY CEILINGS! OVERSIZED & INSULATED DOUBLE GARAGE! 5 BEDS AND 4 FULL BATHS! Welcome to your dream home in Chestermere, Alberta! This stunning...
$555,000
Neighbourhood: Dawsons Landing
3
Beds
2F11/2
Baths
1,433
Sq.Ft.
2022
Year Built
3
Days on Site
A2083774
MLS®
**Lake Front** Nestled in ideal location with a picturesque view of the tranquil pond and majestic rocky mountains, this residence offers an unparalleled sense of serenity. First thing you notice...
$587,900
Neighbourhood: Chelsea_Ch
4
Beds
3F11/2
Baths
1,462
Sq.Ft.
2020
Year Built
3
Days on Site
A2084985
MLS®
Welcome to this elegant home in the prestigious Chelsea community of Chestermere, an award-winning neighborhood. Experience a serene lakeside retreat with Chestermere Lake only 5 minutes away and...
$400,000
Neighbourhood: Rainbow Falls
3
Beds
2F11/2
Baths
1,386
Sq.Ft.
2016
Year Built
6
Days on Site
A2084334
MLS®
Modern 3-Storey Townhome with Double Garage - Your New Home Awaits in Chestermere! This stunning, clean, and modern 3-storey townhome offers three bedrooms plus a den/office/flex room and comes...
$625,000
Neighbourhood: The Cove
4
Beds
3F11/2
Baths
1,959
Sq.Ft.
2000
Year Built
6
Days on Site
A2084283
MLS®
Welcome to the Cove! This cozy 4 bedroom 4 bathroom family home is a 5 minute walk to the Cove private beach with 2 playgrounds and tennis courts. All the amenities you could need within a 5 minute...
$662,900
Neighbourhood: Kinniburgh
3
Beds
2F11/2
Baths
1,994
Sq.Ft.
2023
Year Built
6
Days on Site
A2084218
MLS®
Discover luxurious living in this stunning 3-bedroom, 2.5-bathroom duplex home built by Golden Homes, nestled in the serene community of Kinniburgh South. Boasting high-end finishes throughout, this...
$1,198,888
Neighbourhood: East Chestermere
5
Beds
4F11/2
Baths
3,592
Sq.Ft.
2015
Year Built
6
Days on Site
A2084472
MLS®
LIVE, WORK and PLAY in Chestermere. Let's take your breathe away! This exquisite, custom home has been meticulously maintained and it is the first time on the market! The design has been thoughtfully...
$859,900
Neighbourhood: Dawsons Landing
5
Beds
4
Baths
2,581
Sq.Ft.
2022
Year Built
6
Days on Site
A2083018
MLS®
5-Bedrooms * 1 Primary bedroom on the Main Level & 2 Primary Bedrooms on the Upper Level | 4-Bathrooms *1-3pc on Main Level | 2581 SqFt | Chef's Kitchen | Built-In Stainless Steel Appliances |...
$675,000
Neighbourhood: Lakeside Greens
3
Beds
2F11/2
Baths
1,658
Sq.Ft.
1992
Year Built
6
Days on Site
A2081365
MLS®
Your dreams of living in a modern, open floor plan bungalow with walk-out basement and incredible views in an established community, can finally become reality. This spacious bungalow has been...
$555,000
Neighbourhood: Dawsons Landing
3
Beds
2F11/2
Baths
1,472
Sq.Ft.
2023
Year Built
6
Days on Site
A2084255
MLS®
Newly constructed home situated in the heart of the highly sought after community of Dawson's Landing in Chestermere. This home seamlessly combines contemporary design with comfortable living. Upon...

High River

High River sales have been somewhat dampened by weak levels of new listings. Gains in new listings in the first quarter helped support stronger sales compared to last year. However, the lack of new listings over the past three quarters has caused significant declines in inventories. The average inventory of less than 60 units in the first quarter is the lowest it has been since 2007.

Stronger sales and low inventories caused the months of supply to fall to just above two months, well below longer-term averages of over six months. Tight market conditions have been driving up prices in this market over the past several quarters.

By the end of the first quarter the benchmark price averaged $334,267, nearly three per cent higher than last quarter and five per cent higher than levels recorded last year. Price gains have been occurring across most product types, but prices remain below previous highs in all categories.

50 Properties
Page 1 of 5
$730,000
Neighbourhood: Montrose
4
Beds
3F11/2
Baths
2,273
Sq.Ft.
2007
Year Built
1
Day on Site
A2083694
MLS®
This stunning, updated, fully finished home is located in the sought after community of Montrose.
Backing on to a quiet pond, offering stunning easterly views over the water and welcoming the...
$625,000
Neighbourhood: Highwood Village
3
Beds
2F11/2
Baths
1,234
Sq.Ft.
2012
Year Built
2
Days on Site
A2085058
MLS®
Welcome to this stunning villa in High Park, High River! The main floor boasts an inviting den, a spacious kitchen with espresso cabinets, stainless steel appliances, and a granite centre island &...
$410,000
Neighbourhood: Central High River
4
Beds
1
Baths
1,212
Sq.Ft.
1920
Year Built
5
Days on Site
A2083780
MLS®
The cutest house you ever did see could be your new home in High River. Pride of ownership is evident in every inch of this beautifully cared for property, and the cottage vibes will capture your...
$435,000
Neighbourhood: Emerson Lake Estates
4
Beds
3
Baths
1,169
Sq.Ft.
1993
Year Built
6
Days on Site
A2084154
MLS®
OPEN HOUSE CANCELLED - Property is C/S. LEGAL SUITE ALERT!!! Calling ALL buyers - this just might be the perfect home you've been searching for! Whether you are an investor or looking for yourself,...
$499,900
Neighbourhood: High River Golf Course
2
Beds
2F11/2
Baths
1,218
Sq.Ft.
2003
Year Built
6
Days on Site
A2084421
MLS®
Open house Saturday 2-4:30 pm!! Imagine finding your forever home without the hassle of landscaping or snow shoveling. Well, your search might just be over with this Bungalow Villa! It's not too...
$499,500
Neighbourhood: Vista Mirage
2
Beds
2F11/2
Baths
1,212
Sq.Ft.
2006
Year Built
7
Days on Site
A2084013
MLS®
A Wonderful Villa in the highly desirable and retirement friendly Vista Mirage complex! Open concept main floor greets you with vaulted ceilings in the living and dining rooms, there is a large den,...
$299,999
Neighbourhood: Lineham Acres
3
Beds
1F11/2
Baths
1,196
Sq.Ft.
2006
Year Built
7
Days on Site
A2084182
MLS®
**OPEN HOUSE** Sep 30 and Oct 1 , from 1:00pm-4:00pm. This is the one you've been waiting for! Sit back, relax & enjoy your beautiful & spacious home offering 3 Bedrooms and 1.5 bath, 9ft ceilings,...
2
Beds
2F11/2
Baths
1,230
Sq.Ft.
2006
Year Built
7
Days on Site
A2083125
MLS®
ATTENTION--- 1ST TIME HOME OWNERS | SMALL FAMILIES | INVESTORS!!!! WHY PAY RENT WHEN YOU CAN OWN in the charming development of Prairie Sound located in the beautiful family community of High...
3
Beds
2F11/2
Baths
1,214
Sq.Ft.
1974
Year Built
8
Days on Site
A2080629
MLS®
Discover your dream home in High River - a captivating 3-bedroom property that blends modern luxury and functionality. The heart of this residence is a dream kitchen with an oversized island,...
$245,000
Neighbourhood: Sunrise Meadows
3
Beds
1F11/2
Baths
1,048
Sq.Ft.
2007
Year Built
10
Days on Site
A2082519
MLS®
Great Location near playground, this two level Townhome has three bedrooms, in nice condition, close to schools and shopping, great access to Highway two for commuters... Granite countertops...
$4,500,000
Neighbourhood: Eagleview Estates
29.4
Acres
11
Days on Site
A2083120
MLS®
DEVELOPERS!!!! The Location is Tops! Two main arteries with traffic lights Segway this property. Property is serviced with sewer and water. Still in stage to designate the Highway frontage as...
3
Beds
2F11/2
Baths
1,288
Sq.Ft.
2003
Year Built
13
Days on Site
A2082877
MLS®
Incredible starter home for under $400K! This home has so much to offer including a 24'x24' detached garage, option for parking pad, kitchen with newer stainless steel appliances, and 3 good sized...

Strathmore

Sales activity in Strathmore improved relative to last year’s levels, but it remains somewhat constrained by the low level of new listings coming onto the market.

The sales-to-new-listings ratio did improve, going from over 110 per cent last quarter to 66 per cent this quarter, but the level of new listings coming onto the market did little to help the low inventory situation.

Average inventory levels in the first quarter have not been this low since 2007, causing the months of supply to fall to an average of three months in the first quarter. This is a significant improvement compared to the nine months recorded at the same time last year and reflects the tightest conditions recorded in over a decade.

Unlike other markets, Strathmore did not see tighter market conditions until the fourth quarter of last year. Prices did remain soft in the second half of 2020, but they are showing signs of improvement in the first quarter of 2021 Benchmark prices improved by over three per cent compared to last quarter. However, the gains have not been enough to offset earlier pullbacks and overall prices in the first quarter remain lower than levels recorded last year.

76 Properties
Page 1 of 7
$649,900
Neighbourhood: Strathmore Lakes Estates
4
Beds
3F11/2
Baths
2,171
Sq.Ft.
2015
Year Built
1
Day on Site
A2083616
MLS®
Impressive, stunning residence, featuring over $30,000 in builder enhancements! Nestled in the coveted lake community of Strathmore Lakes Estates, this 2 story walk-out residence strikes the perfect...
$295,000
Neighbourhood: Strathaven
4
Beds
3
Baths
1,529
Sq.Ft.
2007
Year Built
2
Days on Site
A2084613
MLS®
Open concept floor pan with walk out basement and double attached garage . This End unit Bi-level has 3 bedroom up as well as 1 full bathrooms and a 3 piece ensuite in the primary washroom. Very well...
$269,900
Neighbourhood: Strathaven
2
Beds
2F11/2
Baths
1,031
Sq.Ft.
2006
Year Built
2
Days on Site
A2056036
MLS®
Check out this terrific Townhome in the great community of Strathaven. This well thought out home offers tons of great value, space and is in a family friendly complex. The main floor features a...
$359,900
Neighbourhood: Westmount_Strathmore
4
Beds
1F11/2
Baths
1,020
Sq.Ft.
1994
Year Built
4
Days on Site
A2083909
MLS®
Don't miss out on this quality home! NO CONDO FEES! This end unit is bright and spacious with amazing renovations completed in 2014. Located on a quiet cul-de-sac for local traffic only and there is...
4
Beds
3
Baths
1,072
Sq.Ft.
1983
Year Built
6
Days on Site
A2082456
MLS®
This spacious and charming bilevel home offers a comfortable and functional layout. With a revenue generating walkout basement (illegal)suite. As you enter the home, you are welcomed into the main...
$659,900
Neighbourhood: The Ranch_Strathmore
5
Beds
3F11/2
Baths
2,362
Sq.Ft.
2009
Year Built
6
Days on Site
A2084528
MLS®
If it just had a triple garage....THIS ONE DOES! New to the market is this 2361 sf 2 story home plus another 1004 sf of basement development! When the current owners were having this home built,...
$234,900
Neighbourhood: Strathaven
3
Beds
1F11/2
Baths
1,011
Sq.Ft.
1997
Year Built
7
Days on Site
A2078172
MLS®
FIRST TIME HOME BUYERS OR INVESTORS This townhouse is for you! As you walk in you will notice the NEW laminate flooring, and the NEW neutral paint throughout the townhouse! The living room is a great...
$369,900
Neighbourhood: Cambridge Glen
3
Beds
2
Baths
1,034
Sq.Ft.
2004
Year Built
8
Days on Site
A2082177
MLS®
Welcome to 142 Camara Court in Cambridge Glen in Strathmore. This 1/2 duplex with single car garage is a lovely home with beautiful, custom maple cabinetry. An open floor plan with tons of natural...
$419,900
Neighbourhood: Maplewood
3
Beds
2
Baths
1,333
Sq.Ft.
1980
Year Built
8
Days on Site
A2083662
MLS®
Don't miss out on the opportunity to make this bungalow your forever home! With its spacious interior, impressive lot, and unbeatable potential, this property won't stay on the market for long....
$669,900
Neighbourhood: Wildflower
3
Beds
2F11/2
Baths
2,317
Sq.Ft.
2021
Year Built
8
Days on Site
A2083669
MLS®
Step into a world of contemporary elegance with this immaculate 2-storey gem. This gorgeous property is located in a sought-after neighborhood and is sure to exceed your expectations. With a spacious...
$225,000
Neighbourhood: Downtown_Strathmore
0.14
Acres
8
Days on Site
A2083960
MLS®
Located in the heart of downtown Strathmore this vacant lot has so many possibilities. 50' x118' Zoned Commercial Business. Ask your Realtor for the Town of Strathmore Land Use Bylaw or for...
$246,400
Neighbourhood: Downtown_Strathmore
2
Beds
1
Baths
876
Sq.Ft.
2021
Year Built
10
Days on Site
A2083167
MLS®
Price is for 1 lower level unit 12 , Top Floor Units 41,42,43 Sold, Lower Level unit 11 Sold, 2nd floor unit 21 Sold,22 23 available, 12, 13, 23 rented(Available for sale 24 hours notice) 31,32,33...

Rural Rockyview

Low lending rates and a growing desire for more space caused sales activity in the Rural Rockyview region to reach record highs in the first quarter.

While there is diversity within the region, nearly 70 per cent of the inventory reflects homes priced above $1 million, mostly located in Springbank and Bearspaw.

Due to the slowdown in the energy sector, sales of higher-priced homes have struggled and elevated inventories relative to sales resulted in buyers’ market conditions and price declines. These trends did start to shift by the last quarter of 2020, as improving sales relative to the new listings in the market helped reduce inventory levels.

New listings did rise in the first quarter, but it was not enough to offset the gains in sales and inventory levels trended down for the second quarter in a row. This caused the months of supply to ease to just below five months.

The months of supply is still elevated relative to levels recorded in Calgary, but this is the lowest level recorded in the region since 2006. Tighter conditions are also starting to support both quarterly and year-over-year gains in prices . However, prices remain well below previous highs.




Considering Buying or Selling Your Home?

Feel free to reach out with any inquiries

Phone(403) 270-7601

Email[email protected]

Address Ray Riley
#115 8820 Blackfoot Trail SE
Calgary, AB T2J 3J1

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