Last Updated on March 8, 2024 by CREW Editorial
Calgary is a vibrant urban center with easy access to natural beauty. The Rocky Mountains are just a two-hour drive away, for captivating views and outdoor adventures. Boasting a thriving economy, diverse culture, and a range of neighbourhoods catering to various lifestyles and price points, Calgary offers an enticing real estate market for both homeowners and investors alike.
“Calgary offers unique opportunities for residents and investors. Business-wise, it’s home to the headquarters of many large businesses as well as many local ones, and it actively encourages entrepreneurship. Recreationally, it’s perfect for outdoor adventures, dining, and entertainment. So it’s no wonder it is a popular city for people to move to and buy investment property in,” Jesse Davies, a noted top Calgary realtor with Century 21 comments.
Overview of Calgary and its Neighbourhoods
Calgary is the largest city in Alberta and provides the benefit of big-city living and outdoor adventure with natural spaces.
Its diverse neighbourhoods cater to various lifestyles and preferences. Beltline, Kensington, and Mission feature urban living with trendy cafes, boutique shopping, and cultural hubs like galleries and theatres. These areas tend to appeal to young professionals and creatives.
On the other hand, neighbourhoods like Aspen Woods, Signal Hill, and Cranston offer traditional suburban living with spacious homes, well-manicured parks, and access to schools, playgrounds, and community centres, making these popular with families.
Moreover, Calgary’s communities like Inglewood and Bridgeland feature a mix of heritage buildings with contemporary dining and entertainment.
Each neighbourhood in Calgary has its own feel, offering different benefits, and attracting different types of owners. There is something for everyone, so sellers just need to market to the right audience, and buyers need to find the right neighbourhood fit for their personal style.
Housing Options
Calgary’s real estate market offers a full range of housing options to suit different preferences and budgets. Detached housing, condominiums, townhouses, semi-detached homes, and even pre-construction properties are all available.
Detached housing appeals to those seeking privacy and space; Calgary single-family homes range from cozy bungalows to luxury, premium homes. Condominiums offer a low-maintenance lifestyle, ideal for busy professionals or those looking to downsize, and may offer amenities such as fitness centers, concierge services, and communal spaces. Townhouses and semi-detached homes offer a balance between the privacy of detached housing and the affordability of condos, making them popular choices for families and first-time buyers. Pre-construction properties present an opportunity for buyers to customize their homes according to their preferences and potentially benefit from appreciation upon completion.
Tips for Successful Buying and Selling in Calgary
Whether you’re buying, selling, or investing in a property, identifying its true potential and value requires seeing beyond the physical building and can sometimes take a little imagination. Understanding the lifestyle and flexibility a home can offer helps you see a home’s value more accurately,” notes Jesse Davies.
Calgary’s real estate market is complex, and requires strategic planning with informed decision-making. Working with a leading Calgary realtor who has experience in the type of transaction and property involved will make the real estate deal much simpler and more successful.
For sellers, staging your home effectively to highlight its features, avoiding a cluttered look, and allowing buyers to imagine it as their home is essential. Professional photography, videos, and marketing materials can further enhance your property’s visibility in the market. A strong digital presence is essential now; as many as 97% of home buyers conduct at least part of their search online.5 A good pricing strategy that considers current market conditions, takes into account what features a house offers, and which is in line with similar properties in the neighbourhood needs to be determined.
In recent years, the real estate market has undergone several shifts. Finding a real estate agent who knows the market trends and understands what buyers want is important. They can help highlight your property’s features that match what buyers are looking for and create a customized plan to sell your property for the best exposure and value.
Buyers, especially those considering investment properties, should conduct thorough market research and seek guidance from a realtor. Identifying emerging neighbourhoods, analyzing rental demand and potential appreciation, and understanding market trends are crucial for making informed investment decisions. Reviewing listings online is a good start to see what is available, but a property search is more complicated than a simple search. Be sure to set a firm budget, and clarify what your needs are. A list of prioritized wants is helpful, too. If buying with another person, make sure to come to an agreement on what your wants and needs are, before starting the search.
A realtor who knows what neighbourhoods will meet your needs and price range is invaluable; they can offer insights that cannot be simply researched on the internet. They can also assist with bidding strategies to help you make successful bids at a reasonable price.
When purchasing a property for yourself or for investment purposes, focus on location. Properties in walkable areas, close to amenities, transit, schools, and employment opportunities, will make a big impact on your enjoyment of your property or its desirability for renters. You can make upgrades to a home, but you can’t change the neighbourhood. If buying a condo, look into the condo fees carefully and investigate whether changes are planned. Finally, look into future development plans in the neighbourhood to gauge potential impacts on property value.
A knowledgeable investment realtor can provide valuable insights and assist investors in identifying lucrative opportunities that align with their investment goals. Calgary is a thriving city for investment properties. An investor-friendly realty team like the Jesse Davies team can also offer a variety of additional services to help clients navigate the investment process, such as property management, rental income analysis, and access to a network of trusted contractors and professionals.
Current Market Update
The real estate market is always in a state of flux and change, making it difficult for home buyers, sellers, and investors alike, to make decisions.
In January 2024,1 more homes were sold in Calgary, around 1,650 of them, as more (2,137) were put up for sale. However, even with more homes for sale, there still isn’t enough to keep up with the demand. This has led to the average price for a home rising to $572,300, 10% more than last year. Because of fewer homes and rising prices, rent is increasing; in 2023, the average rental cost increased by a significant 14.3%.
For people looking to buy a home, this means fewer options and possibly higher prices because of the competition. If you’re selling, you may be able to sell faster at a competitive price. For investors, it may be difficult to find suitable properties, but potential rent income could be lucrative.
The average price for a detached home in January was $702,200, while for semi-detached homes, the average price was $625,000. Row houses averaged $426,400, with apartments hitting an average price of $324,000. These prices for all categories showed an increase in price, with a lack of supply.
On the plus side, unemployment rates are falling, which helps with a healthy real estate market.
“When unemployment decreases, consumer confidence in our real estate market goes up and people are more confident to buy homes and investment properties,” says Jesse Davies of Jesse Davies Real Estate. Calgary has seen an increase of 9,200 jobs; the unemployment rate showed a 9.7% decrease from the lows seen in June 2020, which is also lower than the long-term average.
The Importance of a Top Calgary Realtor
Calgary has a competitive real estate landscape that is particularly subject to rapid change; having a trusted advisor and the best by your side can make all the difference. Having one who is knowledgeable about the area and experienced in the type of transaction you are planning, such as a certified condo realtor, investment realtor, or pre-construction realtor, is a huge advantage. The best Calgary real estate agent will bring extensive experience, market knowledge, and negotiation skills to help you.
Whether you’re buying your dream home, selling a property, or seeking investment opportunities, a top realtor can streamline the process, offer valuable guidance, and ensure a smooth transaction from start to finish.
The Jesse Davies Team has won several industry and client-based recognition awards, including the 2021 and 2022 #2 Calgary Real Estate Agent by rate-my-agent.com, Top 100 Canadian Agents 2021 and 2022 by RankMyAgent.com, and the Top Realtor for 2020, 2021 and 2022 at Century 21 Elevate Real Estate. The team knows Calgary completely, staying up to date on all the latest market trends, and has expertise in buying and selling detached homes, condos, pre-construction properties, investment properties, and more.
