Here is our mid-February market update on pricing and inventory in these Calgary bedroom communities!

Airdrie

Despite chronically low inventory levels, sales activity in January reached near-record levels. The increase in sales was made possible by a higher number of new listings in January compared to previous months. With less than one month's supply, the market continues under strong sellers' market conditions, owing to chronically low inventory levels. Prices are continuing to rise due to persistently tight market circumstances. The total residential benchmark price increased by roughly 3% to $408,900 in January over the previous month.




Cochrane

In January, sales in Cochrane reached new highs. The increase was fueled by an increase in new listings compared to what was available in the last months of 2021. The monthly increases in new listings helped to keep inventory levels consistent, but with only 62 units available in inventory, inventory levels are nearly 70% lower than what we've seen in the past. Strong sales and low inventory levels pushed Cochrane's months of supply below one month, which was the lowest ever for January. Prices are continuing to rise due to the tight market conditions. The median price of a detached home increased to $512,900 in January. The monthly growth was not as high as what was witnessed in some other regional markets due to substantial monthly advances at the end of last year.


Okotoks

Despite chronically low inventory levels, sales activity in Okotoks remained rather high. In January, inventories stood at 38 units, the lowest level ever for the month and 76% lower than long-term averages. The months of supply remained extremely tight at under one month this month, with 43 sales and 38 units in inventory. Conditions in Okotoks haven't been this tight since 2006, putting increased pressure on prices. The detached benchmark price increased to $515,100 in January, a considerable gain over the previous month and almost 8% higher than the previous year.


Stay tuned for information on more satellite communities!



(Image and content sources: CrebNOW)


For more info on these communities, buying selling or more, reach out to us today!

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A walkable neighborhood is one where you can get in and out of the neighborhood without a car. In Alpine Park, Calgary, this master planned community has access to Sidewalks, restaurants, and the neighborhood is designed to make minimal use of car except for long trips or commutes.

walkable community



Find out more about Alpine Park! Developers have been long at work transforming this bare land into an urban multi use oasis.


Map the route to your workplace in public transit mode. Look on Google Maps to get a sense of how many everyday amenities are within walking distance. The more restaurants nearby, the more your neighbors will likely be out and about, too. This may give you a feel for the overall vibe of the community. Always spend some time walking around and exploring an area before making a move there!

Check out the neighborhood at different times of day to see what's open and active during the times you'd walk there.

Check out the area on evenings and weekends, and in the middle of a weekday. Remember that you can always prospect communities you are interested in even if there are no houses available to purchase on the market currently.

Pay close attention to how the streets and crosswalks are designed. Look for signals with buttons for walkers to push and wide, well-marked crosswalks. Was the space designed to be pedestrian friendly? Remember that even if amenities are nearby, if the community is not master planned with walkability in mind, things like a major road or large warehouse store parking lots may put a damper on your desire to walk to errands. Sirocco at Pine Creek is another example of a newer community where the developers have made sure that major walkways and amenities are user-friendly and inclusive to all e.g., those with mobility scooters or various disabilities.

While inner city neighborhoods are great for walkability, similar lifestyles can be found in thoughtfully master planned suburban communities.

While inner city neighborhoods are great for walkability, similar lifestyles can be found in thoughtfully master planned suburban communities.


When you're in the neighborhood, search Google Maps for "restaurants near me" or "coffee near me". Take some exploratory walks to the places you'd be likely to visit. If it feels right to you, it just might be the right place to call home.


Choosing your next community carefully is a move that will shape a portion of your life. Contact us for information on communities, home buying, selling, and more.

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One great aspect of Calgary is its diverse array of wonderful communities that you could build your own infill. Today we have the top five great communities to build your next semi-detached or detached infill home.



Building a new home in an established neighborhood definitely has its perks. We have seen many creative uses of space, such as multigenerational families living on separate houses on the same lot, investing in a lot and using one half for a rental, and beyond.

The first area we need to take note of is Altadore or South Calgary.

Great location to build an inner city infill

These neighborhoods are established. Home builders have been densifying and reshaping this area for many years. The hustle and bustle of shopping, you will enjoy nearby Marda Loop, one of Calgary’s best shopping districts. The feeling of inner city with a little space between you and downtown means you won’t feel like you’re missing out on events, parties, bars, nightlife and a great metropolitan energy, but you can still have easy access to parks and greenspace.

Like Altadore, Killarney, another great example of a neighborhood that is transforming from a quaint single-family community to one full of modern condos, rowhouses and infills.

Great location to build an inner city infill

A little further from Downtown, Killarney enjoys the luxury of a nearby C-train station, easier river access and a little more distance from the busy urban core. Shopping on popular 17th Ave is just minutes away and you can easily get out of the city with convenient access to Bow Trail.

Sunnyside/Hillhurst is one of Calgary’s most desired inner-city communities.

Great location to build an inner city infill

It is still possible to find lots here. You will find this is one of the more developed infill communities. Take a walk through one of its many busy streets to see examples of beautiful new developments; the possibilities are endless. This community is centered around its famous shopping and dining experience and is located directly beside the downtown core.

Mount Pleasant is our next choice, located just North of 16th Ave Northwest.

Great location to build an inner city infill

Here you'll find that there's a little bit of elbow room. It's a little bit quieter of the location. There is no shortage of dining, bars, and easy access to Market Mall, the University of Calgary, hospitals and more makes this an attractive central location, with all the benefits of a quieter family suburb. Mount Pleasant sports access to some amazing bike trails.

Our top recommended location to build a location this year, however, is located just East of Mount Pleasant, and that is the community of Renfrew.

Great location to build an inner city infill

Over the past 1-2 years, we have seen developers and homebuilders alike express interest in this hidden gem of a community. With many of the original homes (And likewise, 50-foot lots) still standing, this area will likely rapidly transform into a dense and bustling community like Altadore or Killarney within the future. Now is your chance to get into this community while many families and investors are focused on the aforementioned communities.

Even though it’s a bit quieter and out of the way, Renfrew is just minutes from Downtown. Many will have walking access to Bridgeland, one of the best dining and entertainment districts. With the river nearby, the Calgary Zoo, TELUS World of Science and more, Renfrew offers a compelling value that growing families should not ignore.


Our final neighborhood we need to mention is Crescent Heights.

Great location to build an inner city infill

Perhaps with the premiere panoramic view of Downtown Calgary, the Bow River and the mountains, if you are looking for a location to build your dream home in the heart of one of Calgary’s prestigious communities, look no further.

With easy access to every inner city and shopping amenity on the North side of the river, some of the most interesting green and park space to be found, Crescent Heights is quiet, safe, and could be your amazing dream retreat with views to match.


Interested in finding out more? Give us a shout today!

or follow @wowcalgary on Instagram!

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February Market Update: Strong Seller Conditions continues to impact Prices for Calgarians

In January, the benchmark price reached $472,300, an increase of over 2% month over month and 12% year over year. Inventory fell to 2,620 units, the lowest level since 2006. Months of supplies remained at an all-time low of 1.3 months for this time of year.

In January, the number of new listings increased to 1,295 units. Inventory levels, on the other hand, continued to fall with 1,148 sales. Detached inventory decreased to a new low of 895 units, while months of supply remained below one month for the second month in a running.


Changes in Calgary's Condo Market

Sales in January were at their highest level since 2007. There was more supply available in the condominium sector than in any other sector. This sector's unadjusted benchmark price of $251,200 is almost 2% more than last year. The months of supply have stayed stable at three months.


Photo of downtown Calgary from Scottsman's Hill


Airdrie

Sales activity in January reached near-record levels. With less than one month's supply, the market continues under strong sellers' market conditions. The benchmark price increased by roughly 3% to $408,900 in January over the previous month. Increase can be attributed to gains in both detached and semi-detached dwellings.


 

Cochrane

In January, sales in Cochrane reached new highs. The median price of a detached home increased to $512,900 in January. With only 62 units available in inventory, inventory levels are nearly 70% lower than what we've seen in the past. Prices are continuing to rise due to tight market conditions.



Okotoks

The detached benchmark price increased to $515,100 in January, almost 8% higher than the previous year. In January, inventory stood at 38 units, the lowest level ever for the month. The months of supply remained extremely tight at under one month this month.



As always, if you have any further questions, please contact us directly.

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