Thinking 2022 is your time to move? We have prepared this seminar to answer YOUR questions!
Do you know somebody who is getting ready to sell their home? Are you wondering about the state of the market? This short seminar on creating a successful sale in Calgary's real estate market is a must watch!
Southwest Lifestyle at My Legacy Park: 1309 215 Legacy Boulevard SE
If you are in the market for a modern condo in Calgary’s Southwest, this could be your next home! Bright and open, with 9-foot ceilings and plenty of natural light throughout the space, this unit showcases the amazing SW Lifestyle available at Remongton’s My Legacy Park.
The unit features 2 bedrooms, 2 baths, and 2 named parking places. This property, which faces northwest, receives evening sun and has a private balcony that is covered. Suite #1309 is tucked away at the very end of the hall and features a large front entry as well as a generously sized closet.
The improved flooring package, which includes ceramic tile, easy-to-clean laminate flooring, and upgraded carpet, is instantly noticeable. Among the many features of the kitchen are quartz countertops, a large kitchen island with pot drawers and cupboards that reach to the ceiling, an upgraded stainless appliance package with a water and ice dispenser built into the refrigerator, an upgraded stove with induction oven, an upgraded microwave oven, quality dishwasher, garbage disposal, and striking red glass mini subway tile backsplash, as well as a touch faucet with a pull out hand wand that is super cool.
You'll find a front-loading washer and dryer that have been upgraded. The primary bedroom is huge, with a walk-through partner closet and an ensuite bathroom with quartz countertops and a large bathtub. The secondary bedroom is also spacious. The second large bedroom also has a large closet In-suite and has quick access to the full bath that also has quartz counter.
There is heated indoor titled parking with a storage locker, as well as a second titled outside parking space with storage locker. You don’t have to leave because everything is within walking distance, including shops and the Legacy walk trails. Located near the southern end of Calgary, the Legacy community is ideally located adjacent to the Bow River, the Macleod Trail, and the Stoney Trail ring road, among other amenities.
The majority of Canada is tilted in favour of sellers rather than buyers, which is expected to continue in 2022. But one major urban centre is not showing signs of overheating or overvaluation. This is excellent news for young families and first-time homebuyers eager to break into the market.
The Canadian Mortgage and Housing Corporation (CMHC) has rated the Calgary real estate market as "low-risk". The rating doesn't translate to tepid activity, in fact, this local market is flourishing. According to the Calgary Real Estate Board (CREB), residential sales rose to 2,186 units in October 2021, up 24 per cent year-over-year.
The average home price in Calgary is up almost nine per cent year-over-year to $460,100. Inventory is beginning to tighten, but not at market levels seen elsewhere in the country.
New housing construction has improved from 2020. Housing starts increased at an annualized rate of 27.8 per cent in October 2021, to 1,255. Year-to-date, housing starts in Calgary have topped 11,600, up from 7,443 in the first 10 months of 2021.
Sales over $1 million in Calgary were up 244% year-over-year, according to Sotheby's. Condos saw the most significant annual percentage gain of any luxury housing type. Young buyers and up-sizers are looking for top-tier homes at accessible prices.
Canada's luxury and conventional housing market will remain strong in 2021, according to the latest Canadian Real Estate Board (CREB) report. Low-interest rates, record cash savings and anxiety about the stock market will continue to drive demand for properties. Overseas buyers will flood into the market as travel restrictions gradually ease, CREB predicts.
The median price of a single-detached home in Calgary is expected to rise by six per cent to $689,000 in the fourth quarter of 2022. The city's downtown revitalization and infrastructure projects such as the Green Line LRT and Event Centre are helping drive the boost.
The median price of a single-detached home in the Greater Toronto Area is expected to spike by 11 per cent a year from now, to $1,564,200. In comparison, the median cost of a condominium in Calgary is forecast to rise by two per cent.
The Canadian inflation rate hit 4.7 per cent in November, the highest in nearly 19 years. The stay-at-home effect of the pandemic has made larger homes more desirable. You will need strategy and diligence in locating a new property in the current market, but it can be done. Consider new developments (These can be found both inner city and on the outskirts) or buying in the surrounding communities of Airdrie, Cochrane, Okotoks, and so on.
The median price of nearly $700,000 for detached homes is being skewed by a booming luxury market.
Calgary's unemployment rate is down to eight per cent, down from 8.9 per cent in October but still among the highest for major Canadian cities.
It is estimated currently that 30 per cent of prospective Calgary homebuyers are coming in from other municipalities.
Wondering about how to make your next move in 2022? Let us help you.
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
