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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165 Properties
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1,455
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5
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3
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2,143
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Okotoks

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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.

110 Properties
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3
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4
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Days on Site
A1133910
MLS ®
Rare opportunity to own gorgeous, renovated home backing onto greenspace in Crystal Shores. This house has been renovated throughout and shows beautifully. Main floor boasts a large office with barn...
$450,000
Subdivision: Cimarron
3
Beds
2F11/2
Baths
1,910
Sq.Ft.
2009
Year Built
3
Days on Site
A1131812
MLS ®
Fantastic home in the established community of Cimarron. Enjoy major shopping close by, multiple schools & green spaces in the neighbourhood, and a playground just behind! The main floor offers...
$192,900
Subdivision: Crystal Shores
1
Beds
1
Baths
711
Sq.Ft.
2005
Year Built
3
Days on Site
A1134615
MLS ®
Yes! This property has lake privileges! Immaculate ONE bedroom unit in the north building of the MESA in Crystal Shores. Whether you are looking for your first home or downsizing to something so you...
$1,235,000
Subdivision: Air Ranch
5
Beds
4F11/2
Baths
3,839
Sq.Ft.
2011
Year Built
3
Days on Site
A1134428
MLS ®
Welcome to 122 Ranch Road! This REMARKABLE home is a prime picture of SOPHISTICATION. With almost 5400 sq feet of developed living space this house can accommodate all the needs of a large family....
$519,995
Subdivision: Drake Landing
3
Beds
2F11/2
Baths
1,981
Sq.Ft.
2007
Year Built
5
Days on Site
A1133713
MLS ®
For more info click Multimedia - Easy access & near all the amenities; schools, rec centers restaurants & shopping! Rear of property faces a green space & the Beatrice Wyndham Walkway is out the back...
$499,900
Subdivision: Westmount_Ok
4
Beds
3F11/2
Baths
2,065
Sq.Ft.
2008
Year Built
5
Days on Site
A1129034
MLS ®
EXCELLENT LOCATION in the desirable community of Westmount. You will find this beautiful home on a quiet street at the end of the crescent. PROFESSIONALLY LANDSCAPED WITH MATURE TREES and PARK...
$387,500
Subdivision: Westmount_Ok
3
Beds
3
Baths
1,103
Sq.Ft.
2006
Year Built
5
Days on Site
A1132868
MLS ®
Price Reduced!!....This stunning home opportunity is located in the gated Okotoks community of Tucker Circle! A quiet mature community, Tucker Circle boasts walking distance to shopping, restaurants,...
3
Beds
4
Baths
1,448
Sq.Ft.
1991
Year Built
6
Days on Site
A1133291
MLS ®
Welcome home to this beautiful raised bungalow in the desirable area of Westridge!! This spectacular home offers beautiful rock work as you drive up to it. Walk into the generous sized entrance...
$669,900
Subdivision: Mountainview_Okotoks
6
Beds
3F11/2
Baths
2,412
Sq.Ft.
2018
Year Built
6
Days on Site
A1126990
MLS ®
WELCOME TO THIS FABULOUS 6 BDRM, 3.5 BATH, over 3400 finished living space GREEN HOME BUILT IN THE BEAUTIFUL NEIGHBORHOOD OF MOUNTAINVIEW. This Gorgeous home is sure to please even the fussiest...
$649,900
Subdivision: Drake Landing
5
Beds
3F11/2
Baths
2,883
Sq.Ft.
2008
Year Built
7
Days on Site
A1132977
MLS ®
Tons of space for the entire family with over 4000sqft of development, a great location on a quiet cul-de-sac with some amazing views of the mountains, and just steps from the extensive walking paths...

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

108 Properties
Page 1 of 9
$199,900
Subdivision: Westmere
1
Beds
1
Baths
595
Sq.Ft.
2006
Year Built
1
Day on Site
A1134772
MLS ®
This gorgeous Top floor condo backs onto the lake and is with-in walking distance to major shopping, Safeway, Tim Hortons, Starbucks etc. The spacious kitchen offers upgraded appliances, tons of...
$729,000
Subdivision: Westmere
4
Beds
3F11/2
Baths
2,403
Sq.Ft.
2015
Year Built
3
Days on Site
A1134147
MLS ®
This charming home, built by Lifestyle Homes, features a fully developed walk out with suited basement...completed by the builder. With over 3000 sq. ft. of developed living space, this home is...
$239,900
Subdivision: Westmere
2
Beds
1
Baths
806
Sq.Ft.
2006
Year Built
4
Days on Site
A1133333
MLS ®
Just minutes from the city, you can enjoy lakeside living in this 'move-in ready' ground floor 2-bedroom condo located in the highly sought-after waterfront Bay Club Complex.

Heat and Water...
$515,000
Subdivision: West Creek
3
Beds
3
Baths
1,795
Sq.Ft.
2000
Year Built
4
Days on Site
A1133804
MLS ®
Welcome to this 2-storey, walkout home located in West Creek! This 3-bedroom, 3 full bathroom home is located on a lovely, treed greenspace, backing onto West Creek Pond. The large rooms on the...
Open 8/2
216 Cascades Pass Chestermere, AB T1X 0K8
$274,880
Subdivision: Rainbow Falls
3
Beds
1F11/2
Baths
1,123
Sq.Ft.
2010
Year Built
5
Days on Site
A1133631
MLS ®
If you are looking for a quiet, family-friendly community near walking paths and minutes from the lake, look no further. This stunning, ideally located, end-unit townhome in Rainbow Falls backs onto...
$409,900
Subdivision: The Cove
3
Beds
3
Baths
1,334
Sq.Ft.
2004
Year Built
6
Days on Site
A1116778
MLS ®
SELL YOUR LAWNMOWER AND LEAVE THE SNOW SHOVEL BEHIND! Not a condo, but the homeowners association takes care of lawn maintenance and snow removal. Immaculate 2 bedroom bungalow located in the...
$719,900
Subdivision: Kinniburgh
4
Beds
2F11/2
Baths
2,479
Sq.Ft.
2021
Year Built
6
Days on Site
A1133561
MLS ®
KEEP EM COMING! ANOTHER BRAND NEW HOME BY GOLDEN TRIANGLE! This quality 2 storey offers over 2400 SQ FT of luxurious living space with 4 bedrooms, 3 Baths and Attached Triple Garage! Main floor...
$634,900
Subdivision: The Cove
6
Beds
4
Baths
1,665
Sq.Ft.
2005
Year Built
7
Days on Site
A1132155
MLS ®
Here is your chance to own a beautiful sprawling bungalow that is within very close proximity to Lake Chestermere and many other shopping amenities. This 5 Bedroom 4 bath house boasts 1665 sq ft...
$685,000
Subdivision: Rainbow Falls
5
Beds
3F11/2
Baths
2,250
Sq.Ft.
2015
Year Built
7
Days on Site
A1133040
MLS ®
Outstanding family sized home that delivers 5 bedrooms and 3.5 baths with early occupancy! This home offers over 3060 square feet of living space and is positioned on a quiet cul de sac where...
$699,900
Subdivision: Lakepointe
3
Beds
2F11/2
Baths
2,648
Sq.Ft.
2013
Year Built
7
Days on Site
A1132927
MLS ®
PARADISE in your own backyard!! The neighbourhood of Lakepointe is hidden away at the North end of Chestermere Lake & may just be one of Chestermere's best kept secrets! Book your showing today &...
$439,900
Subdivision: Lakeview Landing
3
Beds
2
Baths
1,209
Sq.Ft.
2003
Year Built
7
Days on Site
A1132897
MLS ®
Nestled on a large corner lot with a large R.V. pad this bungalow awaits you. Professionally painted through out, new plank flooring & carpet installed. This home is flooded with natural light,...
1
Beds
1
Baths
595
Sq.Ft.
2006
Year Built
8
Days on Site
A1131972
MLS ®
LAKESIDE LIVING! A bright 1-bedroom condo loaded with upgrades with a clear view of the lake, located in the desirable Bay Club. The formal entrance leads to the well appointed, renovated kitchen...

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.

85 Properties
Page 1 of 8
$279,900
Subdivision: Montrose
1
Beds
2F11/2
Baths
1,298
Sq.Ft.
2018
Year Built
2
Days on Site
A1134697
MLS ®
2 year old home on quiet st minutes from grocery gas and conveniences. 3 story home in new subdivision. Modern colors and dream Kitchen with huge island. Come take a look. Very affordable 2 bedroom...
3
Beds
1
Baths
912
Sq.Ft.
1941
Year Built
2
Days on Site
A1134754
MLS ®
Amazing opportunity in SW High River! Detached home for under 200k! Call your favorite agent today.
$348,888
Subdivision: Mclaughlin Meadows
3
Beds
1F11/2
Baths
1,185
Sq.Ft.
1976
Year Built
2
Days on Site
A1134734
MLS ®
Location Location Location. This property backs onto a tot lot play ground. It also has back lane access with Huge pie shaped Yard. This 3 bedroom 2 bath with fully undisturbed basement shows...
$428,888
Subdivision: Emerson Lake Estates
5
Beds
3
Baths
1,532
Sq.Ft.
1987
Year Built
2
Days on Site
A1134348
MLS ®
Enjoy this Magnificently located FULLY DEVELOPED; EXTENSIVELY RENOVATED 5 BEDROOM ; 3 BATHROOM home WITH a 2 CAR ATTACHED GARAGE. This home was NOT affected by the High River Floods, and did NOT...
4
Beds
3
Baths
1,174
Sq.Ft.
1990
Year Built
3
Days on Site
A1134478
MLS ®
Nice bungalow on a pretty street close to 2 lakes, elementary school and shopping. Great family home with stainless steel kitchen appliances, primary bedroom with ensuite and large closet, 2 more...
$99,900
Subdivision: Southwest Central High River
0.08
Acres
4
Days on Site
A1134299
MLS ®
Nice 86' x 40' lot in desirable SW near hospital, schools, shopping. Private front with mature caraganas, lane access, plenty of room for a small house and garage. A 6' privacy fence will be put up...
$259,900
Subdivision: Sunrise Meadows
3
Beds
1F11/2
Baths
1,074
Sq.Ft.
2004
Year Built
5
Days on Site
A1130379
MLS ®
***NO CONDO FEES*** WELCOME TO THIS CUTE HOME IN A WONDERFUL CUL-DE-SAC COMMUNITY. THIS 2 STOREY HOME (Front Entrance way attached only) RIGHT ACROSS FROM GREEN SPACE, OFFERS 1074 SQ FT OF LIVING...
2
Beds
1F11/2
Baths
937
Sq.Ft.
1977
Year Built
5
Days on Site
A1133749
MLS ®
Cute, Cozy, Sweet - attached bungalow located in sought after parklike McLaughlin Meadows. The home is tucked into a quiet cul de sac, boasting a spacious open floor plan with sunken living room,...
$152,000
Subdivision: Sunrise Meadows
2
Beds
1F11/2
Baths
947
Sq.Ft.
2008
Year Built
6
Days on Site
A1133306
MLS ®
Welcome home here is your chance at being a home owner or picking up a great investment property where the numbers cash flow. This unit is located on the east side of the buildings giving you an...
$95,000
Subdivision: Southwest Central High River
0.13
Acres
6
Days on Site
A1133514
MLS ®
Serviced 50x125' lot in central location near downtown with back lane access.
$199,900
Subdivision: Highwood Village
3
Beds
2F11/2
Baths
1,252
Sq.Ft.
2006
Year Built
10
Days on Site
A1131927
MLS ®
This townhome is sure to impress! 3 Beds, 2.5 baths. Attached garage. Across from a park. With over 1200 sqft of living space you will be pleased with the spaciousness of this townhome. Living room,...
$623,500
Subdivision: Sunshine Meadow
3
Beds
2F11/2
Baths
1,705
Sq.Ft.
2003
Year Built
10
Days on Site
A1132271
MLS ®
Rare find! This is a fully developed 1704 square foot Wegener built walkout bungalow in immaculate condition backing onto Sunshine Lake. It has many excellent features including an open floor-plan,...

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.

118 Properties
Page 1 of 10
$365,000
Subdivision: Cambridge Glen
4
Beds
3
Baths
1,155
Sq.Ft.
2007
Year Built
1
Day on Site
A1134419
MLS ®
Welcome to 152 Camden Court! This spacious, fully developed home is located in a large cul-de-sac with beautiful country views out back! A quiet street with plenty of room for the kids to bike, scoot...
$319,900
Subdivision: Westmount_Strathmore
5
Beds
2F11/2
Baths
1,276
Sq.Ft.
1975
Year Built
1
Day on Site
A1133523
MLS ®
Welcome to this fantastic bungalow in Westmount with CENTRAL AIR! 4 bedrooms with a 5th bedroom in the lower level - this updated, freshly painted home is perfect for a family that needs a bit of...
$226,800
Subdivision: Green Meadow
3
Beds
2F11/2
Baths
1,200
Sq.Ft.
1993
Year Built
1
Day on Site
A1134894
MLS ®
Fantastic opportunity to own this affordable townhouse with NO CONDO FEES!!! This well maintained, beautiful home offers spacious main floor with entrance, large kitchen with ceramic tile floor,...
$249,900
Subdivision: Maplewood
3
Beds
2F11/2
Baths
1,244
Sq.Ft.
1993
Year Built
2
Days on Site
A1131418
MLS ®
Wow, This home is move in ready!! The entire home has been freshly painted, New carpet, new lighting, new mirrors and more. Walking up you are welcomed by a tile entry leading you to your open main...
$249,900
Subdivision: Strathaven
3
Beds
2F11/2
Baths
1,222
Sq.Ft.
2020
Year Built
3
Days on Site
A1095459
MLS ®
Look no further, why rent when you can own! Brand new Condo with an Open floor plan, upgraded finishing and 3 bedrooms. Large eat in kitchen overlooks the living room with access to the deck....
$329,900
Subdivision: Downtown_Strathmore
2
Beds
1
Baths
940
Sq.Ft.
1943
Year Built
4
Days on Site
A1134022
MLS ®
Developers. Home Occupation, Business Opportunities. Multi Family . Enjoy a massive yard or Build Shop of Choice. Bring your family, pets, hobbies, toys, RV's Unlimited Parking. Loads of Off Street...
$455,000
Subdivision: The Ranch_Strathmore
4
Beds
3F11/2
Baths
1,819
Sq.Ft.
2015
Year Built
5
Days on Site
A1119981
MLS ®
PLEASE CHECK OUT THE VIRTUAL TOUR LINK. Like new!! Built in 2015, this immaculate home is located in The Ranch with over 2400 sq.ft. of developed living space. Ideally located on a quiet...
$350,000
Subdivision: Strathaven
5
Beds
3
Baths
1,101
Sq.Ft.
2002
Year Built
5
Days on Site
A1130694
MLS ®
Freshly Painted. New Flooring. Bright and Spacious....5 Bedroom Option. Great Corner Lot. Build Shop/Garage of Choice
Immediate Possession. Open Concept. 3 Bathrooms. Large Eat in Kitchen. Lots...
$375,000
Subdivision: Edgefield
2
Beds
2F11/2
Baths
1,905
Sq.Ft.
2015
Year Built
5
Days on Site
A1133623
MLS ®
Move-in Before School Starts
This 1905 sq. ft. semi-detached 2 storey features 2 bedrooms up with an office/den with closet and a loft-style bonus room upstairs. It was built in 2015. The master...
$339,900
Subdivision: Cambridge Glen
3
Beds
3
Baths
1,196
Sq.Ft.
1994
Year Built
5
Days on Site
A1133739
MLS ®
Welcome to this sweet Fully Developed Bungalow with many added features. This has been a warm summer and you may appreciate the Central Air Conditioning and Covered South Composite Deck. The...
4
Beds
2
Baths
1,081
Sq.Ft.
1983
Year Built
5
Days on Site
A1132941
MLS ®
Great starter home, or great for income potential. This older Bi-level home offers a large eat in kitchen with 2 bedrooms + 1 bath upstairs and 2 bedrooms, 1 bath and a games room downstairs....
$219,000
Subdivision: Strathmore Lakes Estates
2
Beds
2
Baths
913
Sq.Ft.
2009
Year Built
5
Days on Site
A1133776
MLS ®
Strathmore's most highly sought after, AFFORDABLE LUXURY living, in the SAVANA. 2 bedrooms and 2 baths with all of the luxuries including: STONE counter tops, STAINLESS appliances, IN FLOOR heat,...

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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