Happy September!
Hope everyone enjoyed their summer and have had a great first week as the kiddos are back at school! Inventory in the city continues to stay low and although we are seeing interest rates rise, Calgary is positioned to stay very attractive in the coming months. We are seeing a ton of out of province investment into the city and with the lifestyle the city has to offer mixed with the affordability in comparison to some of the other larger cities in our country, demand looks to continue to ramp up. This should be good news for Calgarians looking to sustain property values but also will be attractive for increased investment into our city. As always, we will be following the market closely and are always available to discuss and make a plan for your future Real Estate needs.
We would love to help with whatever real estate needs you have!
Ben Knopp
Charles Real Estate
403-870-1393
bknopp@charlesrealestate.ca
www.BenKnopp.com
| MARKET Update, August 2022 • We are continuing to see a shift in the type of product buyers are purchasing caused by increased lending rates but the overall supply remains low and prices have continued to hold year over year gains. August sales activity was comparable to the strong levels recorded last year and well above long-term trends for the month. While sales have remained relatively strong, there continues to be a shift towards more affordable options as the year-over-year pullback in detached sales was nearly matched by gains for multi-family product types. “While higher lending rates have slowed activity in the detached market, we are still seeing homebuyers shift to more affordable options which is keeping sales activity relatively strong,” said CREB® Chief Economist Ann-Marie Lurie. “This makes Calgary different than some of the larger cities in the country which have recorded significant pullbacks in sales.” At the same time, new listings continue to trend down, preventing any supply gains or a substantial shift in the months of supply. The months of supply in August remained at just above 2 months, not as tight as earlier in the year, but still below levels traditionally seen this time of year. For the third month in a row, benchmark prices eased slightly. While the reduction reflects shifting market conditions, it is important to note that previous gains are not lost, and prices remain over 11% higher than last year. Have any questions about where you are positioned in the market? Don’t hesitate to reach out! |
| For the full report, click here. What does this mean for you as a future buyer or seller in Calgary? Drop me a line, I’d love to help. *Stats obtained from CREB.com |
Offered for $1,688,000| MLS A1251592
ONCE IN A LIFETIME DEVELOPMENT OPPORTUNITY! The very last chance to purchase a property right in the middle of the coveted Parkhill Ridge and build your dream home. Experience fabulous sunsets and breathtaking river and mountain views! If you could hand pick the perfect location on the street, this would be the one! Never before has this exclusive property been available. 52ft by 131ft. Fronts the ridge and backs onto Parkhill park. It really doesn’t get any better. R-C2 zoning will give some flexibility on design and development options. The original 1,800sf (total) midcentury modern home and double detached garage are on the property and being rented. Live in or rent it out while you design and make your own personal plans. Don’t miss out on this unbelievable opportunity! Call today and make this your dream home!!
• S O R R Y S O L D • 📍173 Marquis Point SE
Sometimes life throws you a curve ball and can make for challenges that are unforeseen. These awesome clients had to pivot their lives very quickly and we are very happy to get their sale accomplished in a timely fashion. Grateful for the call to help.
#BlueSold #SorrySold
