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October Calgary Market Update

It’s hard to believe it’s October already, though the snow storm has it feeling more like November! This past week I was fortunate enough to have my Cedarbrae listing (see below) filmed to be featured on the popular TV show the Property Brothers. In the flurry of filming activity the host Drew was gracious to step aside for a quick photo with myself and Maru the co-founder of Weatherskin.com, he is even nicer in person! This snow is a not so gentle reminder of things to come; if you are considering moving to a warmer climate, allow me to help with your real estate needs in both selling and relocating! If you’re sticking another winter out here with me, I’ll see you in line to get winter tires on!

Real Estate Market

With no change in our economic climate here in Calgary, September saw a 13% decline in sales activity over last year and was well under long-term averages. No housing product was spared this decline, with the detached market feeling it the most. Welcome to the new normal of Calgary real estate.

Unemployment , lending rates and a whole lot of uncertainty has buyers hesitant to make the move. Those with the confidence to purchase before interest rates increase again will benefit greatly from the ongoing downward pressure on pricing in this buyers market. But as CREB president Tom Westcott explains “Some potential buyers may want to take advantage of the market conditions, but they face difficulties selling their existing home based on their expectations. This prevents them from purchasing something else.”

However the rental market has seen signs of improvement which will hopefully contribute to a slow reduction in overall housing supply. Are you wanting to take advantage of this buyers market and invest in an income generating property? Give me a call and we can discuss your options. For the full report click here.

In the City

October sees Calgary embrace its spooky side with events for the whole family. From the annual Calgary Zombie Walk to joining in on a Ghost Tour through some of our oldest neighbourhoods, and lets not forget a visit to the pumpkin patch, there are plenty of reasons to put those winter boots on and enjoy the city this month. I may even be brave enough to finally attend Screamfest…. don’t hold me to it though. Be sure to stop in and warm up at one of Calgary’s visual arts exhibitions and sales. Get some holiday shopping done early at the Riverview Artists show and sale at the Gulf Canada Square until Oct.5 or visit my favourite day of the month, Free First Thursday Night at the Glenbow.
Check out the links below for my go to websites to support local Calgary events .

AVENUE MAGAZINE CALENDAR CALGARY ARTS & DEVELOPMENT EVENTS