*Data sourced from CREB (Calgary Real Estate Board)

Strong migration and low supply drive Calgary housing prices in 2023 - Sales in 2023 did ease relative to last year's peak, but with 27,416 sales, levels were still far higher than long-term trends and activity reported before the pandemic. While sales stayed relatively strong, there was a notable shift in activity toward more affordable apartment condominiums style homes. “Higher lending rates dampened housing demand this year, but thanks to strong migration levels, housing demand remained relatively strong, especially for affordable options in our market,” said CREB® Chief Economist Ann-Marie Lurie. “At the same time, supply levels were low compared to the demand throughout the year, resulting in stronger than expected price growth.” Inventory levels were persistently below long-term trends for the city throughout most of the year, averaging a 44 per cent decline over the 10-year average. We also saw the months of supply remain well below two months throughout most of the year across homes priced below $1,000,000. The persistently tight conditions contributed to our city's new record high price. While the average annual benchmark price growth did slow from 12 per cent in 2022 to nearly 6 per cent growth in 2023, the price growth was still relatively strong especially compared to some markets in the country.

December 2023 CREB Calgary Real Estate Full Report

December 2023 CREB Calgary REGION Real Estate Full Report

Calgary Real Estate Board: "Gains in new listings occurred across most price ranges, but the most significant gains occurred from homes priced over $600,000. Despite the year-over-year jump in new listings, inventory levels remained low thanks to relatively strong sales. With 1,787 sales in November, the sales to new listings ratio remained high at 80 per cent, and the months of supply remained below two months. “Like other large cities, new listings have been increasing,” said CREB® Chief Economist Ann-Marie Lurie. “However, in Calgary, the gains have not been enough to change the low inventory situation thanks to strong demand. Our market continues to favour the seller, driving further price growth.” "

November 2023 CREB Calgary Real Estate Full Report

November 2023 CREB Calgary REGION Real Estate Full Report

With a low inventory, the seller's market continues. 

Calgary Real Estate Board: “October sales activity slowed over the last month in alignment with typical seasonal patterns. However, sales levels were 17 per cent higher than last year and amongst the highest levels reported for October."

October 2023 CREB Calgary Real Estate Full Report

October 2023 CREB Calgary REGION Real Estate Full Report

Building an infill property in Calgary involves several steps, including planning, permits, construction, and compliance with local regulations. Here's a general overview of how to build an infill property in Calgary:

1. Feasibility and Research:

   • Identify a suitable infill lot in an established neighborhood.
   • Research the zoning regulations, land use bylaws, and any development policies that apply to the area. You can contact the City of Calgary's Planning and Development department for information on the specific property and its zoning.

2. Engage Professionals:

   • Hire an architect or designer to create plans for your infill property that adhere to the local zoning regulations and reflect your vision.

3. Financing and Budget:

   • Secure financing for the project. This may involve obtaining construction loans or securing investment partners.
   • Develop a detailed budget that includes construction costs, permits, design fees, and other expenses.

4. Pre-Application Meeting:

   • Schedule a pre-application meeting with the City of Calgary's Planning and Development department. This meeting can help clarify the requirements and regulations specific to your project.

5. Permit Application:

   • Submit a development permit application to the City of Calgary. This application should include your architectural plans and other necessary documents. The city will review your plans to ensure they meet zoning and other requirements.

6. Development Permit Approval:

   • Once your development permit is approved, you can proceed to the next stages of the project.

7. Building Permit Application:

   • Apply for a building permit from the City of Calgary. This permit will detail the construction and design specifications. It's important to ensure your plans adhere to building codes and regulations.

8. Demolition and Site Preparation:

   • If there is an existing structure on the infill lot, obtain any required demolition permits.
   • Clear the site and prepare it for construction, which may involve grading and excavation work.

9. Construction:

   • Begin construction according to your approved plans and building permit.
   • Coordinate with contractors, subcontractors, and suppliers to manage the construction process.

10. Inspections:

    • Schedule inspections at various stages of construction to ensure compliance with building codes and safety regulations.

11. Occupancy Permit:

    • Apply for an occupancy permit once the construction is complete and your infill property is ready for habitation. This permit certifies that the property meets all building codes and safety standards.

12. Utilities and Services:

    • Connect your infill property to essential utilities such as water, sewer, and electricity.

13. Landscaping and Exterior Finishing:

    • Complete landscaping and any necessary exterior finishing to improve the property's curb appeal.

14. Final Inspection and Approval:

    • Request a final inspection from the City of Calgary to ensure that the property meets all necessary requirements for occupancy.

15. Marketing and Sales:

    • If you plan to sell the infill property, list it on the market and coordinate with real estate professionals if necessary.

16. Ongoing Maintenance:

    • Maintain the property and address any warranty or construction-related issues that may arise.

Throughout this process, it's crucial to work closely with the City of Calgary's Planning and Development department, as they can provide guidance and ensure your project complies with local regulations. Be prepared for potential delays, and make sure you have a well-defined project plan to keep your infill property construction on track.

Condo living in Calgary, as in many other urban areas, offers several benefits that appeal to a variety of individuals and lifestyles. Here are some of the advantages of living in a condo in Calgary:

1. Location and Accessibility: Condos are often situated in prime locations within the city, providing easy access to amenities, public transportation, restaurants, and entertainment. This can be especially convenient for those who work or socialize in the downtown area.

2. Low Maintenance: Condo owners typically pay monthly fees that cover maintenance and repair costs for the common areas and exterior of the building. This means you won't have to worry about mowing the lawn, shoveling snow, or dealing with major repairs, which is ideal for individuals with busy schedules or those looking to downsize.

3. Amenities: Many condo developments offer a range of amenities, such as fitness centers, swimming pools, communal spaces, and even concierge services. These amenities can enhance your quality of life and provide opportunities for social interaction with your neighbors.

4. Security: Condos often have security measures in place, such as controlled access, on-site security personnel, and surveillance cameras. This can provide a sense of safety and peace of mind, particularly for those who travel frequently or live alone.

5. Affordability: In comparison to single-family homes, condos in Calgary can be more affordable. This makes them a viable housing option for first-time buyers or those on a budget who want to own property in the city.

6. Community Living: Condo living fosters a sense of community. You're more likely to interact with your neighbors and have opportunities to socialize through organized events and shared common areas, which can be appealing for people seeking a sense of belonging.

7. Investment Potential: Condos can be a good investment opportunity, with the potential for rental income if you decide to move or invest in a second property. Calgary's real estate market has shown growth over the years, making it an attractive prospect for real estate investors.

8. Downsizing: Condos are a popular choice for empty nesters or retirees looking to downsize from larger family homes. They offer a more manageable living space while still providing access to urban amenities.

9. Environmental Benefits: Many modern condos in Calgary are built with energy-efficient features and eco-friendly designs, reducing your carbon footprint. Additionally, living in a denser urban area can decrease the need for long commutes and promote more sustainable transportation options.

10. Customization and Personalization: While condos may have limitations in terms of structural changes, you can often personalize the interior of your unit to reflect your style and preferences.

It's important to note that while condo living offers numerous benefits, it may not be the right fit for everyone. Consider your lifestyle, budget, and housing priorities before deciding whether condo living in Calgary is the best choice for you. Additionally, it's essential to research specific condo developments to understand their rules, fees, and amenities before making a decision.

Generating a real estate portfolio quickly involves a combination of strategic planning, efficient execution, and a focus on scaling your investments. Here are some steps to consider for fast-tracking the creation of a real estate portfolio:

Define Your Investment Strategy: Determine your investment objectives, such as property types (residential, commercial, multifamily, etc.), location preferences, and target returns. Having a clear strategy will help you focus your efforts and identify suitable opportunities. Research the difference between long- and short-term rentals – higher rates in short term, require more time.

Build a Network: Connect with real estate agents, accountants and lenders, who can provide valuable insights, potential deals, and financing options. Building a network with trades, almost every aspect of real estate will require trades at some point. 

Access Financing: Secure financing options that align with your investment goals. Explore traditional mortgages, private lenders, partnerships, or creative financing methods. Establish relationships with lenders and have your financials in order to expedite the financing process.

Leverage Technology: Utilize online platforms, such as real estate marketplaces and listing websites, to identify potential properties quickly. Utilize data analysis tools and online resources to streamline property research and due diligence.

Target Distressed Properties: Look for distressed properties, foreclosures, or properties with motivated sellers. These opportunities may offer favorable terms, lower purchase prices, and potential for value-add renovations. Having a good connection with a realtor can provide a heads up on opportunities.

Implement Efficient Due Diligence: Streamline your due diligence process by creating checklists, utilizing third-party professionals for inspections, and leveraging technology for property analysis. Quick and thorough due diligence allows you to move swiftly on viable deals.

Take Calculated Risks: Evaluate the risk-reward profile of potential investments and be willing to take calculated risks. Fast-tracking your portfolio may require being more open to value-add properties or emerging markets that offer higher growth potential.

Optimize Property Management: Efficiently manage your properties to maximize cash flow and minimize vacancies. Consider outsourcing property management to professionals who can handle day-to-day operations, allowing you to focus on acquiring additional properties.

Reinvest Profits: Continuously reinvest profits into acquiring new properties or scaling existing investments. Use cash flow, refinancing, or selling properties to fund new acquisitions and expedite portfolio growth.

Remember, building a real estate portfolio quickly also entails careful risk management, thorough research, and ongoing education. It is essential to maintain financial discipline, adapt to market conditions, and seek professional advice when needed.

Check out our website to get an idea of the large range of properties in and around Calgary that could use a full renovation, a tear down, an update, a clean-up, some TLC.

Creating wealth in real estate involves a combination of strategic planning, continual research and education, continual networking, and patience.

• Short term renovation projects, flipping
• Short term vacation rentals, buy and hold style
• Renovate distressed properties and then vacation rental
• Buy, rent, hold long term
• Buy, renovate, rent, long term
• Tear down and build new “in-fills”
• Commercial real estate
• Large multifamily rentals
• Condominium conversions

• Real estate investing
• Personal growth

• Carpentry, plumbing, electrical
• Accounting, Stats, Marketing, and Economics
• Corporate Finance Courses – the knowledge in these courses would benefit all types of business areas, especially commercial real estate
• Home Inspections
• Property Management

Books to get started, you should be able to find these at the library:

“Rich Dad, Poor Dad” by Robert Kiyosaki

“The Book on Investing in Real Estate with No (and Low) Money Down" by Brandon Turner

“The Real Book of Real Estate” by Robert Kiyosaki

“The ABCs of Buying Rental Property” by Ken McElroy

“The Real Estate Game” by William J. Poorvu

“Investing in Real Estate” by Gary W. Eldred

Podcasts that could be of interest, you really need to try them out to find ones that you enjoy listening to:

"BiggerPockets Real Estate Podcast" - Hosted by Brandon Turner and David Greene, this podcast covers a wide range of topics related to real estate investing, featuring interviews with successful investors, industry experts, and professionals.

"The Real Estate Guys Radio Show" - Hosted by Robert Helms and Russell Gray, this podcast focuses on real estate investing strategies, market analysis, and interviews with industry leaders. They cover both residential and commercial real estate.

"Investing in Real Estate with Clayton Morris" - Clayton Morris provides insights on building passive income and achieving financial freedom through real estate. The podcast features interviews with successful investors and experts in the field.

"The Rental Property Owner & Real Estate Investor Podcast" - Hosted by Brian Hamrick, this podcast is specifically geared towards rental property investing. It covers topics such as property management, financing, tenant screening, and maximizing cash flow.

"The Real Estate Lab" - Hosted by Vee Khuu, this podcast explores various real estate investment strategies, including flipping houses, wholesaling, and multifamily investing. It features interviews with successful investors sharing their experiences and insights.

"Best Real Estate Investing Advice Ever" - Hosted by Joe Fairless, this podcast offers practical advice and tips from experienced real estate investors. The episodes cover various investment strategies and provide actionable insights for investors of all levels.

"Real Estate Investing Mastery" - Hosted by Joe McCall, this podcast focuses on creative real estate investing strategies such as lease options, wholesaling, and virtual investing. It provides practical advice for investors looking for alternative approaches.

"Lifetime Cash Flow Through Real Estate Investing" - Hosted by Rod Khleif, this podcast focuses on multifamily real estate investing and wealth building. It covers topics such as raising capital, analyzing deals, and asset management.

"Real Estate Investing for Cash Flow" - Hosted by Kevin Bupp, this podcast explores commercial real estate investing, including mobile home parks, self-storage, and apartment complexes. It provides insights into finding cash flow-focused investment opportunities.

YouTube channels that could be of interest, you really need to try them out to find ones that you enjoy listening to:

“Canadian Real Estate Channel” by Matt McKeever

“Real Estate Investing in Canada” by Sarah Larbi

Other resources:

The Real Estate Investment Network REIN is Canadian based and offers a lot of resources, and available on many platforms.

Check out our website to get an idea of the large range of properties in and around Calgary that could use a full renovation, a tear down, an update, a clean-up, some TLC.

"Disclosure: As an Amazon Associate, we earn from qualifying purchases. This means we may earn a commission if you click on an Amazon affiliate link and make a purchase. Please note that we only recommend products and services that we believe in."  

Another record-high month for Calgary, with low inventory.

Calgary Real Estate Board: “The demand for housing remains robust, bolstered by a healthy labour market and increased migration levels, which helps offset the impact of higher lending rates,” said CREB® Chief Economist Ann-Marie Lurie. “Although we have seen some recent improvements in new listings, particularly for apartment condominiums, it is not enough to cause any substantial change from the low inventory situation in our city. While new home starts are on the rise, it will take time to observe their impact on supply.” With a supply of just over one month, the current market conditions continue to favour sellers, placing upward pressure on home prices. 

June 2023 CREB Calgary Real Estate Full Report

June 2023 CREB Calgary REGION Real Estate Full Report

May sales reach record high.

Calgary Real Estate Board: Thanks to a significant gain in apartment condominium sales, May sales rose to 3,120, a new record high for the month. While the monthly gains have not outweighed earlier declines, this does reflect a shift from the declines reported at the start of the year. At the same time, we continue to see fewer new listings on the market than last year, causing inventory levels to fall. With a sales-to-new-listings ratio of 85 per cent and months of supply of one month, conditions continue to favour the seller placing further upward pressure on home prices. “Calgary’s housing market continues to exceed expectations with the recent gain in sales activity this month,” said CREB® Chief Economist Ann-Marie Lurie. “The higher interest rate environment and recent rental rate gains have driven more consumers to seek apartment condominium units. In addition, the recent rise in new apartment listings has provided enough options to support the sales gain. Calgary continues to benefit from the relatively healthy job market and recent population growth keeping housing demand strong across all property types.” Persistently tight market conditions drove further price growth this month. In May, the unadjusted benchmark price reached $557,000, over one per cent higher than last month and nearly three per cent higher than last year’s monthly peak price of $543,000.

May 2023 CREB Calgary Real Estate Full Report

May 2023 CREB Calgary REGION Real Estate Full Report

A new garage door can be a complete refresh. Updating your garage door can improve the look and functionality of your home. 

If your garage door is in great working condition, a new paint could give it the boost it needs. 

Return on investment when replacing an old, warped, paint pealing door is typically close to 100% and will stand the test of time. A renovation worth doing even if you are not planning on moving in the next five years.

Check out the difference online before taking the plunge.

Amarr Door Design is a fantastic and super easy process.

Before:

After:

Using Door Designer to pick: