December 2022

Calgary Monthly Statistics

The pullback in sales over the past six months was not enough to erase gains from earlier in the year as year-to-date sales remain nearly 10 per cent above last year’s record high. The year-to-date sales growth has been driven by a surge in both apartment condominium and row sales.

“Easing sales have been driven mostly by declines in the detached sector of the market,” said CREB® Chief Economist Ann-Marie Lurie. “Higher lending rates are impacting purchasers buying power and limited supply choice in the lower price ranges of the detached market is likely causing many purchasers to place buying decisions on hold.”

CREB® December 1, 2022

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Cochrane, Airdrie and Calgary Region

Airdrie - November sales eased mostly due to the significant pullback in detached sales. While sales this month are down over last year’s record levels, overall activity is still far stronger than long-term trends and year-to-date sales are still on pace to reach a new record high.

Cochrane - New listings have remained relatively low compared to sales, preventing a more significant shift in inventory levels. In November, inventory levels did rise above the low levels seen last year, but remained 35 per cent below longer term trends for the area.

CREB® December 1, 2022

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Calgary and the Housing Bubble
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Has the Canadian housing bubble burst? The Financial Post has laid out some bubble-defining parameters to understand where Calgary sits in the market now.

Read Full Article HERE

How Anti-Flipping Rules Affect You

Canada’s new anti-flipping rules for residential real estate are scheduled to come into force on Jan. 1, 2023, and are designed to “reduce speculative demand in the market place and help to cool excessive price growth.”

The most significant change to this rule is the Capital Gain Tax that will be applicable. The new tax law will disallow the use of the principal residence exemption to shelter the capital gain realized on the sale of your home if you’ve owned it for less than 12 months, allowing for certain exceptions such as death, disability, separation and work relocation. Instead, the gain will be 100 per cent taxable as business income.

For more information Click Here

The Reeves Preferred Team

The Reeves Prefered Team is who we use when we need something done. Everyone on our Prefered Team is someone we trust and are members of our network. Not only are these professionals and companies the best in the area that are the best in the area but they are also experts in their respective fields. Simply put - They are the best!

Replacing kitchen cabinets is arduous, costly, and time-consuming. At New Look Cabinets, they offer a simple fix by restoring, repainting or resurfacing the cabinets in your home.
Contact Tony at New Look Cabinets today for your free quote.

tony@newlookcabinets.com

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5101 19th Street SW, Calgary

Currently Under Construction!! Live luxuriously in the prestigious and convenient community of Altadore. Close to the Bow River, shops and restaurants, parks and off-leash dog parks, this community is perfect for the outdoor enthusiast, dog lover, and families. With 7 units to choose from, these townhomes offer luxury and value in this community starting in the high $600,000s.

View Listing Here

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