Home improvement

November marks a rise in sales

The November housing market was spurred by a rise in sales, particularly in the lower price ranges.
Sales totaled 1,411 units in November, an increase of 15 per cent over last year. This is comparable to longer-term averages for the month of November. Improved sales activity occurred in each of the housing segments, with most of the gains occurring in homes priced under $500,000.

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Condo conundrum

A closer look at the numbers behind Calgary’s apartment-style housing market

Statistics Canada recently released an interesting piece of information regarding Calgary’s residential real estate market that went relatively unnoticed.

According to the government agency, the share of households in the Calgary census metropolitan area living in condominiums was 21.8 per cent in 2016. That represented the second highest percentage in the country, behind only Vancouver at 30.6 per cent, and was much higher than the national average of 13.3 per cent.

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Riverside real estate

Waterfront living comes at a premium in the Calgary market

DaVinci Homes CEO Naheed Kazmi utters three magic words when describing the appeal of the 31-unit Riviera on the Bow in Parkdale, one of her company’s most recent projects: “Location, location, location.”

“Everybody wanted that location,” she said, recalling when the company purchased the land in 2008 and how she has received many calls since over the years from would-be buyers.

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Market on the mend

The arrow is pointing upwards for Calgary housing market as recovery continues

It’s been a tough couple of years for Calgary’s housing market, as it slowly recovers from the collapse of oil prices that started in 2014.

That pain created some deep wounds for the city’s economy, which shed thousands of jobs and plunged into a recession for both 2015 and 2016. The light at the end of the tunnel began to materialize this year, and the recovery is expected to fully take hold in 2018.

That’s good news for the real estate market, as job growth will fuel demand going forward.

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