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MARCH 2025 HOUSING MARKET UPDATE

April 1, 2025

Uncertainty weighing on housing market.

Ongoing economic uncertainty, driven by tariff threats, has weighed on consumer confidence and impacted housing activity in March. Sales declined by 19 per cent year-over-year, totaling 2,159 units. Sales slowed across all property types, with the steepest declines seen in higher-density segments.

“It is not a surprise to see a pullback in sales given the uncertainty,” said Ann-Marie Lurie, Chief Economist at CREB®. “However, it is important to note that sales still remain stronger than anything reported throughout 2015 to 2020, where our economy faced significant economic challenges and job loss. Nonetheless, easing demand has been met with gains in new listings and rising inventories, helping our market shift back toward balanced conditions, following four consecutive years where the market favoured the seller.”

March reported over 4,000 new listings, causing the sales-to-new-listing ratio to drop to 54 per cent, low enough to support further inventory gains. Total residential inventory levels reached 5,154 units, and the months of supply pushed up to 2.4 months. While this is a significant change from last year, with limited supply options across all property types and price ranges, conditions reflect a better balance between a seller and a buyer today. However, the market significantly varies depending on location, price point, and property type.

Improving supply has taken the pressure off home prices following the steep gains reported over the previous four years. In March, the unadjusted residential benchmark price reached $592,500, relatively stable compared to both last month and prices reported last March. Both detached and semi-detached prices remain consistent with peak prices and continue to rise, while apartment and row-style homes continue to report prices slightly lower than last year's peak.

To read the full report, go to:  https://www.creb.com/News/Media_Releases/2025/April/March_2025_stats/

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Your Market Stats for the past 7 days.

Each week, the number of active listings is on the rise. This trend indicates a shift towards a more balanced environment for buyers, offering them a greater variety of options that align with their preferences.

Thinking of selling?  I would suggest acting sooner than later before the spring rush.

Thinking of buying?   There are many options for you to consider in a variety of price points.

Give me a call and we can chat about your situation and the current real estate market.

Gerard at 403-703-5548

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🏠Real Estate Tip Tuesday for March 11 2025👍

Homeowners - you may be unknowingly sabotaging your home’s resale value. 😳 Here some some things that you should considering when considering making some improvements . . . .!  Making solid practical solutions before you list your home will ultimately get you the best dollar!    Give me a call and I can help you decide what projects you should consider!

#alwaystherightcall #realestatetips2025 #buyersandsellersagent #homesforsalecalgary

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Market Update for the past 7 days.

As anticipated, the number of listings in the City of Calgary continue to increase week over week.   This upward trend reflects a bustling real estate market, influenced by a variety of factors such as a growing population, economic opportunities, and a renewed interest in urban living. Buyers and sellers alike are keenly observing these changes, with many eager to seize opportunities in this dynamic environment. As the city expands, new neighborhoods are emerging, each offering unique features and amenities that cater to diverse preferences and lifestyles. Whether you're looking for a vibrant downtown experience or a serene suburban setting, Calgary's real estate landscape is full of potential and promise.

Whether you are upsizing or downsizing, I can help.  Give me a call and we can discuss your real estate needs and next steps.

Gerard at 403-703-5548

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Just Listed - 259 Valley Crest Rise NW

This home is breathtaking, and the location is remarkable. WELCOME HOME to Valley Ridge, featuring a beautifully upgraded walk-out bungalow that backs SOUTH onto a lush, treed ravine with stunning views. This executive residence boasts impressive curb appeal with its elegant stone exterior, complemented by a cozy sitting area adorned with an interlocking brick patio and a detailed cedar privacy screen. The open concept living area showcases sleek cherrywood kitchen cabinets and exquisite Brazilian cherry floors, highlighted by soaring vaulted ceilings and large windows that flood the space with natural light. The thoughtfully designed kitchen is a chef's dream, equipped with a skylight, gas stove, granite countertops, stainless steel appliances, and the added convenience of a walkthrough pantry leading to a spacious laundry/mudroom. The living room features a striking floor-to-ceiling stone fireplace that is sure to capture your attention, while the dining nook offers access to the patio door leading to a generous balcony. The primary suite is a true retreat, featuring 11-foot tray ceilings, a ceiling fan, a walk-in closet, and an ensuite bathroom complete with a soaking tub, separate shower, and dual vanities. The main floor also includes an office and a half bath. On the walk-out level, you’ll find two generously sized bedrooms, a full 4-piece bathroom, and a large games/rec room with a cozy gas fireplace. The backyard is beautifully landscaped, equipped with underground sprinklers, slate walkways, and a gate leading to the ravine and pathways. The upper deck offers breathtaking views of the ravine and includes a gas BBQ line and retractable awnings. Additionally, the oversized double attached garage is insulated and drywalled, featuring overhead storage for added convenience. This exceptional home is ideally located with easy access to bus stops and amenities, and offers quick routes to the mountains, downtown, or north and south of the city. Valley Ridge is a vibrant and active community that thrives throughout the year.

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BE REALISTIC

Being realistic about your budget is crucial, and you might need to make some compromises to find a home that suits your financial situation. Although everyone has their dream location, being willing to consider various neighborhoods or regions can broaden your choices and may lead to discovering an excellent home in an unforeseen area. It's uncommon to find a property that fulfills every single item on your wish list. 

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Market Pulse for the past week.

The recent City of Calgary Housing Report which I shared earlier stated the following in regards to Detached Home:

Driven by gains from homes priced above $600,000, new listings reached 1,228 units in January, which is 29 per cent higher than last year. At the same time, sales activity slowed to 674 units, which brought levels in line with long-term trends. The improvement in new listings relative to sales did help support inventory gains. However, the 1,448 units in inventory are still nearly 27 per cent lower than levels we traditionally see in January, and the months of supply remained relatively low at just over two months. 

The stats above confirm that the inventory levels for single family homes are definitely lower than what we see in January.  This is a good time to consider selling if you are in the market to do so.  Generally the inventory levels start to increase as we get closer to spring.  Give me a call and we can chat about your real estate needs and concerns.  

Gerard at 403-703-5548

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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.