October brought notable shifts to Calgary’s real estate market, especially in higher-priced properties, as sales activity remained strong and well above historical averages. With inventory gradually increasing, particularly in the higher price ranges, Calgary's market is slowly moving toward more balanced conditions. However, lower-priced options remain tight, creating mixed dynamics across different property types and regions. Here's an in-depth look at the trends this month.

City-Wide Market Overview

The Calgary market continues to experience high demand, with 2,174 sales reported in October. Detached homes, semi-detached homes, row homes, and apartments all saw varied trends, reflecting the unique conditions in each segment. Prices remain steady or have grown across most property types, driven by strong demand and constrained inventory in the lower price ranges.

Detached Homes: A Shift Toward Balance in Higher Price Ranges

The detached home segment saw stable prices and a gradual improvement in inventory.

• Sales & Inventory: Sales are healthy, especially for homes priced over $600,000. Inventory has grown enough to ease some of the extreme seller’s market conditions, although supply is still tight for lower-priced detached properties.

• Pricing: The unadjusted benchmark price for detached homes stood at $753,900 in October, stable from the previous month and 8% higher year-over-year.

• Market Conditions: This increase in inventory is especially notable in higher-priced homes, helping to shift the market toward balance in the $600,000+ range. Lower-priced detached homes remain competitive, illustrating a mixed market landscape within the detached home category.

Semi-Detached Homes: Consistent Demand and Gradual Supply Increases

The semi-detached home market continued to experience strong sales, with modest increases in inventory helping to meet demand.

• Sales & Listings: October sales were up by 10% compared to last year, with new listings supporting these sales despite a sales-to-new-listings ratio of 69%. This has kept inventory near two months of supply.

• Pricing: The unadjusted benchmark price for semi-detached homes was $677,000, steady from last month and 8% higher than last year.

• Market Conditions: Supply levels have inched closer to balance, particularly for higher-priced semi-detached options, while affordable options remain competitive.

Row Homes: Steady Gains in a Seller's Market

Row homes are still experiencing seller-favorable conditions due to persistent demand and limited supply.

• Sales & Listings: October sales increased compared to last year, contributing to a 3% year-to-date growth. Inventory has grown but is still below optimal levels, maintaining a months-of-supply ratio near two months.

• Pricing: October’s unadjusted benchmark price for row homes was $456,600, slightly down month-over-month but 8% higher than last year.

• Market Conditions: Higher-priced row homes have seen slight relief in inventory constraints, but conditions remain tight in lower-priced categories.

Apartment Condominiums: Demand Driven by Limited Low-Cost Options

The apartment condominium market has been impacted by rising rental prices and limited affordable alternatives.

• Sales & Listings: October marked the fifth consecutive month of year-over-year sales declines, though demand remains high, especially in the $300,000 to $500,000 range, which saw increased listings.

• Pricing: The unadjusted benchmark price for condos was $341,700 in October, an 11% increase from last year.

• Market Conditions: Higher-priced condos have benefited from additional listings, but affordable condo options remain limited, continuing the tight market for lower-priced units.

Regional Market Highlights

While city-wide trends reveal a market leaning toward balance, regional differences also play a significant role. Let’s take a look at the trends in Airdrie, Cochrane, and Okotoks:

Airdrie

• Sales & Listings: Sales and new listings improved from last October, with a sales-to-new-listings ratio reaching 67%. Inventory has risen significantly, from 213 units last year to 365 this October.

• Pricing: The unadjusted benchmark price has stabilized, with a slight month-over-month dip but a 5% increase year-over-year. Seasonally adjusted data shows stability in the past four months, signaling a shift away from extreme seller conditions.

Cochrane

• Sales & Listings: October sales surpassed last year’s levels, while new listings reached an October record. Inventory levels have risen slightly, yet remain below long-term trends with a months-of-supply ratio at 2.3.

• Pricing: The unadjusted benchmark price was slightly down from last month but 6% higher year-over-year. Year-to-date, average prices are up over 9%, showing sustained growth in Cochrane’s market.

Okotoks

• Sales & Listings: Sales grew from last year as inventory expanded, reaching 103 units compared to last October's 66. However, with less than two months of supply, Okotoks continues to favor sellers.

• Pricing: Unadjusted prices saw a slight month-over-month dip in October but remain over 6% higher than last year and up by more than 8% year-to-date.

Final Thoughts

Calgary’s real estate market remains active, with higher-priced homes beginning to balance out while affordable options in all property types continue to see strong demand. Regional markets like Airdrie, Cochrane, and Okotoks are also showing varied trends, with inventory levels improving but still favoring sellers in many cases.

As Calgary’s housing landscape continues to evolve, buyers and sellers in higher price ranges are finding more options, while affordability remains a challenge at the lower end of the market. For those navigating this complex market, a strategic approach is essential. Whether you’re looking to buy or sell, understanding these market dynamics can help you make informed decisions and take advantage of the unique opportunities within Calgary and its surrounding areas.

Selling a home in Calgary during the fall requires a strategic approach that takes into account the unique dynamics of the local real estate market. As the leaves begin to change and the temperatures drop, prospective homebuyers in Calgary are also shifting their focus. Understanding these shifts can help you position your property effectively, ensuring a successful sale. In this article, we will explore expert tips for selling your home in Calgary this fall, backed by insights from the Calgary Real Estate Board (CREB) report and Realtor Mike Hickey.

Understanding the Calgary Housing Market

The Calgary housing market is characterized by its diverse property types, including detached homes, apartment condominiums, semi-detached homes, row homes, and duplexes.

Each of these segments has its own market trends and buyer preferences, which can influence how you approach selling your home. According to the latest CREB report, Calgary home prices have seen moderate increases, with variations across different property types and neighborhoods.

Key Market Trends

Calgary’s real estate market is influenced by several factors, including economic conditions, interest rates, and demographic shifts. As we enter the fall season, it’s important to stay informed about these trends to better understand your potential buyers’ motivations and constraints.

The CREB report highlights a steady demand for detached homes, while apartment condominiums continue to attract first-time buyers and investors looking for rental opportunities.

Preparing Your Home for Sale

Ensuring your home is well-prepared for sale is crucial to attracting potential buyers. First impressions matter, and in a competitive market like Calgary, standing out is vital. Here are some expert tips to get your home ready.

Curb Appeal

The exterior of your home is the first thing buyers see, making curb appeal a top priority. Fall is a great time to enhance your home’s exterior by tidying up the garden, trimming bushes, and ensuring the walkway is clear of leaves and debris.

Consider adding seasonal decorations like pumpkins or a wreath to create a welcoming atmosphere.

Interior Staging

Staging the interior of your home can significantly impact how buyers perceive the space. Highlight your home’s best features by arranging furniture to maximize space and light. Neutral colors and minimalistic decor can appeal to a broader range of buyers. If you’re unsure about staging, consider consulting a professional stager for guidance.

Maintenance and Repairs

Addressing any maintenance issues or repairs before listing your home is essential. Buyers are more likely to make an offer on a well-maintained property. Check for any leaky faucets, squeaky doors, or chipped paint and fix them promptly.

A pre-inspection can also help identify potential issues that might arise during the buyer’s inspection.

Pricing Your Home Competitively

Setting the right price for your home is crucial to attracting serious buyers and achieving a successful sale.

The Calgary real estate market is competitive, and pricing too high or too low can deter potential buyers. Here’s how to determine a competitive price:

Comparative Market Analysis

Conducting a comparative market analysis (CMA) is an effective way to gauge your home’s value. A CMA involves comparing your property to similar homes that have recently sold in your area. Realtor Mike Hickey recommends working with a knowledgeable real estate agent who can provide insights into recent sales and market trends.

Considerations for Different Property Types

Different property types in Calgary have unique market dynamics. Detached homes may command higher prices due to their desirability among families, while apartment condominiums may have a wider price range based on location and amenities. Understanding these nuances can help you set a realistic and competitive price.

Marketing Your Home Effectively

To reach a broad audience of potential buyers, it’s essential to market your home effectively. Leveraging both traditional and digital marketing strategies can enhance your home’s visibility and attract serious buyers.

Online Listings and Virtual Tours

In today’s digital age, online listings are a critical component of any real estate marketing strategy. High-quality photos and detailed descriptions can capture buyers’ attention. Additionally, consider offering virtual tours to provide an immersive experience for potential buyers who may not be able to visit in person.

Open Houses and Private Showings

Hosting open houses and private showings allows buyers to experience your home firsthand. During the fall, create a cozy atmosphere with warm lighting and seasonal scents. Providing refreshments can also make the experience more inviting for visitors.

Realtor Mike Hickey

Partnering with an experienced realtor like Mike Hickey can significantly impact your selling experience. A knowledgeable realtor brings expertise in navigating the Calgary real estate market and can provide valuable advice on pricing, staging, and marketing your home.

The Role of a Realtor

A realtor acts as a guide throughout the selling process, from listing your home to negotiating offers. They have access to a broad network of potential buyers and can leverage this to your advantage. Additionally, a realtor can handle the paperwork and legal aspects of the sale, ensuring a smooth transaction.

Choosing the Right Realtor

Selecting the right realtor is a critical decision. Look for someone with a proven track record in the Calgary housing market and who understands the unique challenges of selling in the fall.

Selling A Home in Calgary

Selling your home in Calgary this fall requires a well-thought-out strategy that considers the unique dynamics of the local market. By understanding market trends, preparing your home effectively, pricing it competitively, and leveraging both traditional and digital marketing strategies, you can increase your chances of a successful sale.

Partnering with an experienced realtor like Mike Hickey can further enhance your selling experience, providing you with the expertise and guidance needed to navigate the Calgary real estate market.

Whether you’re selling a detached home, apartment condominium, semi-detached, row home, or duplex, these expert tips can help you achieve your real estate goals this fall.

The Calgary real estate market has often been a study in contrasts, characterized by fluctuating demands and dynamic trends. Yet, amid this ever-evolving landscape, Forest Lawn emerges as an unexpected contender for the city’s next real estate hotspot.

This community, historically known for its diversity and resilience, is capturing the attention of investors and first-time home buyers alike.

The Appeal of Forest Lawn

Forest Lawn offers a unique amalgamation of affordable housing and promising investment potential, positioning it as a desirable option within the Calgary housing market.

As property prices soar in other parts of the city, Forest Lawn presents a more accessible opportunity for individuals seeking to buy a home in Calgary.

FACT:

Forest Lawn, originally an independent town until it was annexed by Calgary in 1961, has long been known for its cultural diversity and resilience.

As part of Calgary’s ongoing redevelopment efforts, the Forest Lawn community is now undergoing significant revitalization, including infrastructure improvements and new mixed-use developments. These initiatives aim to boost the area’s appeal for both investors and homebuyers, turning it into a key player in Calgary’s real estate growth.

Forest Lawn Redevelopment

Recent years have witnessed significant redevelopment in Forest Lawn, which has sparked renewed interest in the area. The neighborhood is part of Calgary’s larger urban renewal initiative, aiming to enhance infrastructure, public spaces, and overall community aesthetics. This redevelopment not only elevates the quality of life for current residents but also enhances Forest Lawn’s appeal as an investment.

The strategic location of Forest Lawn offers additional advantages. Proximity to major transportation routes facilitates easy access to downtown Calgary and surrounding areas, making it a convenient locale for professionals and families alike.
This accessibility, combined with ongoing revitalization efforts, underscores Forest Lawn’s potential as a burgeoning real estate hub.

Forest Lawn Investment Opportunities

For those contemplating investing in Forest Lawn, the timing could not be more opportune. The neighborhood’s transformation aligns with shifting market dynamics, where savvy investors recognize the long-term value proposition of investing in burgeoning communities. Realtor Mike Hickey, a seasoned​ expert in Calgary real estate, highlights the neighbourhood’s potential for substantial appreciation in property values. 

His insights reflect a growing confidence in Forest Lawn as a viable investment alternative within the competitive Calgary real estate market.

Ideal for First-Time Home Buyers

For first-time home buyers, Forest Lawn represents an optimal entry point into the Calgary housing market. The affordability of properties combined with the community’s evolving landscape offers a compelling reason to consider this neighbourhood.

The potential for growth and the promise of a vibrant, redeveloped community make Forest Lawn an attractive choice for those seeking to establish roots in Calgary.

Top Realtor Mike Hickey

As Calgary’s real estate market continues to evolve, Forest Lawn stands out as a neighborhood ripe with opportunity. Its blend of affordability, strategic location, and ongoing redevelopment efforts position it as a compelling option for both investors and first-time home buyers.

Those looking to navigate the complexities of the Calgary real estate landscape would do well to consider Forest Lawn, where the promise of growth and revitalization awaits.

With careful consideration and strategic investment, Forest Lawn could indeed become the next jewel in Calgary’s real estate crown.