After a strong start to 2020, economic conditions have dramatically changed, as COVID-19 is impacting all aspects of society.


The economic impact is starting to be felt across many industries. This includes the housing market.

March sales activity started the month strong, but quickly changed, as concerns regarding the spread of COVID-19 brought about social distancing measures. This had a heavy impact on businesses and employment.

“This is an unprecedented time with a significant amount of uncertainty coming from both the wide impact of the pandemic and dramatic shift in the energy sector. It is not a surprise to see these concerns also weigh on the housing market,” said CREB® chief economist Ann-Marie Lurie.


By the end of March, sales activity had fallen 11 per cent compared to last year. This is 37 per cent lower than long-term averages. The drop in sales pushed March levels to the lowest recorded since 1995.

“The impact on the housing market will likely persist over the next several quarters,” said Lurie. “However, measures put in place by the government to help support homeowners through this time of job and income loss will help prevent more significant impacts in the housing market.”


New listings dropped by 19 per cent this month. This decline in new listings compared to sales caused supply levels to ease and helped prevent a larger increase in oversupply. Overall, the months of supply remain just below five months, similar to levels recorded last year.


Prices were already forecasted to ease this year due to oversupply in our market. In March, the citywide benchmark price was $417,400. This is nearly one per cent lower than last year’s levels. The reduction in both sales and new listings should help prevent significant price declines in our market.


However, price declines will likely be higher than originally expected due to the combined impact of the pandemic and energy sector crisis.


HOUSING MARKET FACTS


Detached

  • Detached sales eased by 15 per cent this month, driven by pullbacks in all districts except the North, which remained flat compared to last year.
  • The decline in sales was met with a larger decline in new listings, causing inventories to fall by 17 per cent and keeping the months of supply slightly lower than last year’s levels.
  • Detached benchmark prices have remained relatively unchanged compared to last year at $480,800. Price declines this month continue to be the highest for the City Centre, North East and West districts.

Apartment

  • With 217 citywide apartment sales in March, this was the only category to record a year-over-year gain. Much of the gain was due to improving sales in the South, South East and North West districts.
  • New listings this month did ease, helping support a small decline in inventory levels.
  • Persistent oversupply has resulted in continued downward pressure on prices. In March, the citywide benchmark price eased by more than two per cent compared to last year for a total of $243,700.

Attached

  • Both semi-detached and row sales declined this month compared to last year. Like the other property types, there was also a significant reduction in new listings.
  • The decline in new listings helped push down inventory levels for both property types, but it was not enough to prevent a rise in the months of supply.
  • However, this segment was oversupplied prior to the recent changes, impacting prices. As of March, prices remained nearly one per cent lower than last year’s levels for both semi-detached and row properties.

REGIONAL MARKET FACTS


Airdrie

  • Like many other areas, Airdrie saw a decline in sales activity, along with a reduction in new listings and inventory. The reductions in supply and demand helped prevent any significant changes to the months of supply.
  • While the full impact of the COVID-19 crisis has not yet played out in the housing market, March prices remained comparable to last year’s levels.

Cochrane

  • Both sales and new listings fell this month compared to last year, causing inventories to fall to the lowest levels in five years. Like many other markets, Cochrane remains oversupplied, with easing prices.
  • The March benchmark price was $398,700. This is nearly two per cent lower than the previous year.

Okotoks

  • Trends changed this month, with flat sales and a decline in new listings. The decline in new listings was enough to cause a significant reduction in supply levels and the months of supply fell below five months.
  • Prices are trending down on a monthly basis, but remain comparable to last year’s levels, with a March benchmark price of $405,000.


Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.


RealPros is here to help you navigate through these uncertain times.


Contact us anytime with your Real Estate questions or needs.  


Stay Healthy.  


Keith Braun
RealPros Real Estate Consultants

Purpose Realty
Office: 403-547-1222

Toll Free: 1-855-547-1222

www.RealPros.ca
GOING THE EXTRA MILE!

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The Government of Alberta has deemed real estate agent services, and services that provide access to credit, stocks or other forms of liquidity or finance to individuals, groups or businesses to be essential services. This exempts licensed real estate and mortgage professionals from restrictions during the COVID-19 outbreak, as long as they follow all public health guidelines, including physical distancing measures.

Below is a message from the Real Estate Council of AB:

“RECA’s mandate is first and foremost to protect the public, and it remains our highest priority,” said Duane Monea, Administrator of the Real Estate Council of Alberta. “By being deemed an essential service, real estate and mortgage professionals have been given a great responsibility in assisting Albertans during this crisis. I am confident the industry will meet the challenge, and adapt their business practices in order to protect the health and safety of the public.”

Firstly, professionals must ensure they explain to their clients the impacts of COVID-19 in their real estate or mortgage transaction, and discuss all options together with their advantages and disadvantages, so their clients can make informed decisions. Professionals can be a reliable source of information on minimizing any health risks involved in trading in real estate or dealing in mortgages at this time. Professionals should point clients to RECA’s COVID-19 for Real Estate Consumers website.

Secondly, professionals must also assess their own risk, and remain vigilant to their own health, the health of their clients, and the health of their colleagues. They must take steps to minimize their health risks and stop the spread of COVID-19.

We are here for you....

We are committed to the above and more to continue to serve our clients well throughout this unsettling time.  It seems that there are updates hourly on how this pandemic is affecting the management of Real Estate transactions.  We will continue to implement whatever is necessary to continue to meet the needs of our clients.  

Although the market has slowed during this crisis, homes are still being listed, shown and sold.   346 new listings entered the market and 222 have sold in the past 7 days.   We just sold a home in West Hillhurst with multiple offers for full-list price!    

If you (or someone you know) have any Real Estate needs in the weeks / months to come, we can help you navigate through the process safely.  

Contact us anytime with your questions or needs,

Keith Braun
RealPros Real Estate Consultants
Purpose Realty
Office: 403-547-1222
Toll Free: 1-855-547-1222
www.RealPros.ca
GOING THE EXTRA MILE!
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I have sold a property at 2002 7 AV NW in Calgary.
NOTE: Under Contract until March 25th. You're welcome to still view the home! It is our privilege to market this fabulous 2 Story home perfectly located in the sought after community of West Hillhurst c/w a fabulous view of Downtown! You will LOVE the lifestyle that this location offers including walking distance to downtown, the extensive Bow River path system, trendy Kensington, SAIT, North Hill Mall, plus a plethora of public parks including a dog park close by as well as many amenities. This home has been extensively renovated with contemporary touches throughout, boasting 110% pride of ownership! Just a few of the many special features include: New windows flooding the home with loads of sun – beautiful hardwood flooring on the main – large Living Room / retreat area, an immaculate Kitchen overlooking the huge Dining Room complimented with an intimate wood burning fireplace. Upstairs includes 2 large bedrooms + Den / Flex Room and a beautiful 4 piece bath. (see additional remarks) Your bsmt is fully finished with 2 additional bedrooms, laundry room + an additional 4 piece bath. Call us today for your private viewing of this remarkable home!
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I have listed a new property at 2002 7 AV NW in Calgary.
It is our privilege to market this fabulous 2 Story home perfectly located in the sought after community of West Hillhurst c/w a fabulous view of Downtown! You will LOVE the lifestyle that this location offers including walking distance to downtown, the extensive Bow River path system, trendy Kensington, SAIT, North Hill Mall, plus a plethora of public parks including a dog park close by as well as many amenities. This home has been extensively renovated with contemporary touches throughout, boasting 110% pride of ownership! Just a few of the many special features include: New windows flooding the home with loads of sun – beautiful hardwood flooring on the main – large Living Room / retreat area, an immaculate Kitchen overlooking the huge Dining Room complimented with an intimate wood burning fireplace. Upstairs includes 2 large bedrooms + Den / Flex Room and a beautiful 4 piece bath. Your bsmt is fully finished with 2 additional bedrooms, laundry room + an additional 4 piece bath. Call us today for your private viewing of this remarkable home!
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I have listed a new property at 2002 7 AV NW in Calgary.
It is our privilege to market this fabulous 2 Story home perfectly located in the sought after community of West Hillhurst c/w a fabulous view of Downtown! You will LOVE the lifestyle that this location offers including walking distance to downtown, the extensive Bow River path system, trendy Kensington, SAIT, North Hill Mall, plus a plethora of public parks and amenities. This home has been extensively renovated with contemporary touches throughout, boasting 110% pride of ownership! Just a few of the many special features include: New windows flooding the home with loads of sun – beautiful hardwood flooring on the main – large Living Room / retreat area, an immaculate Kitchen overlooking the huge Dining Room complimented with an intimate wood burning fireplace. Upstairs includes 2 large bedrooms + Den / Flex Room and a beautiful 4 piece bath. Your bsmt is fully finished with 2 additional bedrooms, laundry room + an additional 4 piece bath. Call us today for your private viewing of this remarkable home!
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I have listed a new property at 2025 42 AV SW in Calgary.
Welcome to this gorgeous 2 story home perfectly located within the sought-after community of Altadore within walking distance to most amenities! Boasting 110% pride of ownership throughout there is nothing to do here but move in and enjoy this remarkable home! Just a few of the many special features include: Fabulous curb appeal c/w elegant rock and wood accents – Exquisite decor throughout this very contemporary home with very high ceilings making the home spacious and welcoming – Incredible Kitchen c/w Euro-Island and loads of cupboard and counter space + counter-top gas range, built-in oven and microwave + adjacent butler bar w additional sink & wine fridge – Spacious Living Room c/w coffered ceiling, cozy gas fireplace and huge windows overlooking the backyard retreat – Large dining area perfect for entertaining - Floor to ceiling windows letting in loads of light – Beautiful hardwood floors on the main floor – Built-in speakers throughout the home – 8 foot doors (see additional comments) Upstairs you’ll appreciate the amazing master bdrm c/w refreshment bar & 5-piece spa-like ensuite. Shower is roughed in for future steam. 2 additional spacious bdrms up & a shared 4 piece bath as well as custom built-in study area & upper-floor laundry – spectacular basement development c/w Media Room / Rec Room + beautiful wet-bar, 4th bedroom, gorgeous 3-piece bathroom and plenty of storage AND in-floor heating! The backyard is a lovely outdoor retreat with quick access to the very spacious 2 car garage c/w drywall & insulation – Under-ground sprinkler system This home is loaded with far too many upgrades to possibly mention here. You must view this home to fully appreciate its remarkable features. Book your private viewing today with your favorite Realtor!
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I have listed a new property at 2025 42 AV SW in Calgary.
Welcome to this gorgeous 2 story home perfectly located within the sought-after community of Altadore within walking distance to most amenities! Boasting 110% pride of ownership throughout there is nothing to do here but move in and enjoy this remarkable home! Just a few of the many special features include: Fabulous curb appeal c/w elegant rock and wood accents – Exquisite decor throughout this very contemporary home with very high ceilings making the home spacious and welcoming – Incredible Kitchen c/w Euro-Island and loads of cupboard and counter space + counter-top gas range, built-in oven and microwave + adjacent butler bar w additional sink & wine fridge – Spacious Living Room c/w coffered ceiling, cozy gas fireplace and huge windows overlooking the backyard retreat – Large dining area perfect for entertaining - Floor to ceiling windows letting in loads of light – Beautiful hardwood floors on the main floor – Built-in speakers throughout the home – 8 foot doors (see additional comments) Upstairs you’ll appreciate the amazing master bdrm c/w refreshment bar & 5-piece spa-like ensuite. Shower is roughed in for future steam. 2 additional spacious bdrms up & a shared 4 piece bath as well as custom built-in study area & upper-floor laundry – spectacular basement development c/w Media Room / Rec Room + beautiful wet-bar, 4th bedroom, gorgeous 3-piece bathroom and plenty of storage AND in-floor heating! The backyard is a lovely outdoor retreat with quick access to the very spacious 2 car garage c/w drywall & insulation – Under-ground sprinkler system This home is loaded with far too many upgrades to possibly mention here. You must view this home to fully appreciate its remarkable features. Book your private viewing today with your favorite Realtor!
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I have listed a new property at 1114 36 ST SE in Calgary.
Fantastic investment opportunity for a solid 941 sq. ft Bungalow situated on an large R-C2 lot c/w separate entrance to basement with 2 bedrooms / 1 bath / shared laundry & a brand new kitchen installed c/w beautiful laminate flooring! The main floor is in great shape and has been entirely repainted! The back yard is very spacious c/w large garden, patio, mature trees, single detached garage with plenty of room for a larger garage. Close proximity to public transportation and all amenities, this home is perfect for the future property owner that would appreciate the income from the basement suite or for a savvy investor looking for properties to add to their Real Estate portfolio! Please Note: The listing Realtor is the Executor of the Estate and also a beneficiary of the Estate. Private parking at the back of the home.
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I have listed a new property at 7 WESTPOINT PL SW in Calgary.
Welcome to this gorgeous 2 story home perfectly located within Westsprings on a quiet cul-de-sac boasting 100% pride of ownership c/w over 60,000 in improvements! Just a few of the many special features include: Beautiful curb appeal with exquisite rock work – Huge 3 car heated garage c/w plenty of storage – Grand entry with souring vaulted ceiling and curved staircase – Amazing master bdrm c/w spa-like ensuite – 2 additional bdrms up c/w jack & Jill bathroom – Spectacular Bonus Room – Incredible Kitchen c/w Euro-Island and loads of cupboard and counter space – Spacious Living Room – Floor to ceiling windows letting in loads of light – Formal main-floor den c/w fireplace – Formal main-floor Dining Room – Fabulous West facing backyard c/w large deck, mature landscaping, hot-tub, children’s play set – Elegant custom accents throughout the home – Spectacular basement development c/w Media Room / Rec Room + beautiful bar 2 additional bedrooms / 3 flex rooms, a beautiful bathroom + plenty of storage! The home improvements are: Master Ensuite = 40,000 – Central A/C (2017) = 8,000 – Landscaping = 6,000 – Drywall and paint garage = 3,000 – Garage heater = 3,400 – Shelving in Furnace Room = 1,500 – Garage custom cabintry = ? – Soft water = ? – Furnace humidifiers = ? NOTE: There will be no open houses so call today to arrange for your private viewing of this special home!
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I have listed a new property at 2027 MILNE DR NE in Calgary.
Welcome home to this beautiful bungalow perfectly located within the heart of the sought-after community of Mayland Heights, a quiet community only minutes from Down Town + many amazing parks & amenities! This is a fantastic opportunity to live up and rent down with the nicely appointed self-contained illegal basement suite! Just a few of the many special features of this home include: Fabulous curb appeal with large front deck, perfect for your morning coffee – RV parking – open and spacious floor plan – beautiful hardwood flooring – fantastic kitchen c/w loads of cupboard and counter space – large master bedroom – 2 additional spacious bedrooms up – HUGE backyard – oversized garage – fully finished basement suite c/w spacious bedroom, 4-piece bathroom, large living area and kitchen – walk to many parks or bike to the pathways along Nose Hill Creek / Bow River! Book your private viewing today to see this fabulous home!
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I have listed a new property at 74 GRAY WY in Rural Rocky View County.
After 21 years of selling Real Estate here in Calgary & Area, we are considering on retiring. It took my wife & I many years to find this special gem perfectly located in Bearspaw! Only 10 mins away from many amazing amenities, but far enough out to be incredibly tranquil! This sprawling Bungalow is situated on 3+ acres at the top of Gray Way Homestead & backing East onto gently rolling hills with big sky views! Backing East offers beautiful light that floods the home every morning making it a wonderful way to start your day as well as the twinkling lights of Cross Iron Mills in the distance at night + many Christmas light displays in December! There are far too many special features of this home to be covered here, although just a few are: Gorgeous curb appeal both front & back – Open & spacious floor plan perfect for entertaining – soaring vaulted ceiling in the huge Living Room – a massive Kitchen with loads of beautiful cupboard & counter space + large walk-in pantry & top-end SS appliances – Dining area overlooking the beautifully landscaped yard –Huge Master Bedroom c/w 5-piece spa-like ensuite + a huge walk-in closet – 2nd spacious bedroom on the main floor – executive Office on the main with 13’ ceiling – large Laundry Room c/w transition space from entrance to Garage – massive 3 car Garage w shop area c/w in-floor heating – extensive deck overlooking the land – fantastic basement development c/w Games Room, Wet Bar, spectacular Media Room, 2 spacious bedrooms both with walk-in closets, in-floor heating throughout basement, large Furnace Room c/w loads of storage space – lower patio perfect for relaxing on rainy days in your hot tub – wildlife abounds here with countless birds, deer, the occasional moose passing through, rabbits etc – we have never seen a mouse in this house – truly an oasis we now make available to a new family! Book your private viewing today!
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I have sold a property at 108 Cremona HTS in CREMONA.
Country living at its finest! This gorgeous 1300+s.f. bungalow in Cremona offers the best in small town living - only a quick 45 minute drive from Calgary! Built in 2001, this home features 5 bedrooms, 3 bathrooms, an open kitchen, gas fireplace, hardwood floors & ceramic tile, fully finished basement, water softener & central vac, covered front deck, back deck, oversized double attached garage with in-slab heating - all in a quiet cul-de-sac on a pie-shaped lot backing onto an open field!! The large master bedroom has a walk-in closet and ensuite with a soaker tub! The kitchen has a walk-in pantry and peninsula breakfast bar! Oak doors & trim throughout! Perfect home for any family, and the Cremona K-12 school is less than a 5-minute walk away! Call today for your chance to view this amazing home!
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I have sold a property at 2103 COUNTRY HILLS CIR NW in CALGARY.
Gorgeous two-story in the sought after community of Country Hills with wonderful curb appeal! This former showhome has 3 bedrooms up and 2 1/2 bathrooms! Huge masterbedroom containing 4 pce ensuite complete with soaker tub & walk-in closet. Oak cabinetry in the spacious kitchen with beautiful hardwood floors, breakfast bar, eating nook and pantry! The basement is professionally developed with spacious laundry room / storage room, hobby room, and rec. room with beautiful corner gas fireplace and unique vault to main floor! Because of this vault, the future owners have the cost effective option of increasing the main floor size by 90 square feet! The large deck overlooks the beautifully landscaped back yard complete with storage shed and garden. Perfectly located on a huge lot close to all ammenities! Call today for your private viewing of this fantastic home!
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I have sold a property at 75 HUNTWICK WAY NE in CALGARY.
This large, gorgeous bungalow is perfectly located in the sought-after community of Huntington Hills within walking distance to Alex Munro Elementary School! With 1366 square feet on the main floor, there is plenty of room for the whole family here! Loads of Renovations have been done in this beautiful home, Just a few are: new flooring on the main floor, featuring beautiful laminate in the kitchen, living room, family room and dining room! All new raised panel doors! Brand new spacious bright white kitchen opens to family room with 2-sided fireplace! 2 new windows in the kitchen as well as 6 more LARGE windows added to the basement! Basement development includes a large bedroom / nanny suite and a new 4 piece bathroom and huge storage room. You'll fall in love with the floor plan of this home, open and spacious with HUGE living room windows letting in loads of light throughout the day. Call today for your private viewing of this home, most certainly a gem you will want to consider!
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I have sold a property at 18 ARBOUR CREST RD NW in CALGARY.
It is our pleasure to market this gorgeous 4 bedroom bilevel located in the sought-after community of Arbour Lake! The floor plan is open and spacious! With vaulted ceilings and large south windows, this home guarantees loads of light throughout the day! The bright, white kitchen over looks the breakfast nook, which leads out to the fully fenced and landscaped back yard backing onto green space! Master bedroom is very spacious and has a beautiful master ensuite and plenty of closet space! Walking distance to the huge array of amenities in Crowfoot Center and access to the incredible recreational amenities of Arbour Lake, this home is perfectly located! Priced to sell and guaranteed to impress even the most discriminate buyers! Call Today for more information or to view! GOING THE EXTRA MILE IN ARBOUR LAKE!
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I have sold a property at 118 33 ARBOUR GROVE CLOSE NW in CALGARY.
Its our pleasure to market this gorgeous 2 bedroom plus den condominium located in the sought-after development of Arbour Lake Point of View! The floor plan is open, spacious and with it's south exposure, guarantees loads of light throughout the day! The bright, white kitchen with breakfast bar over looks the large living room, which leads out to the 10 x 13 patio and manicured green space! Master bedroom is very spacious and has a beautiful master ensuite! The dining room or den lends the additional space you will appreciate immediately when you enter this home! Plenty of storage both in-suite and in the heated, underground parking bay. With walking distance to the huge array of amenities in Crowfoot Center and access to the incredible recreational amenities of Arbour Lake, this home is perfectly located! Priced to sell and guaranteed to impress even the most discriminate buyers! Call Today for more information or to view! GOING THE EXTRA MILE IN ARBOUR LAKE!
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I have sold a property at 91 HIDDEN CRES NW in CALGARY.
Dramatic price reduction makes this the best priced property in Hidden Valley... ACT NOW!!! Gorgeous two-storey home with 2 CAR GARAGE on quiet cul-de-sac in the sought after community of Hidden Valley! This home has a perfect family floor plan with three bedrooms up and two bathrooms! Master bedroom has walk-in closet! All the bedrooms have nice views to the east and west. Oak cabinetry in the spacious and bright kitchen complete with walk-in pantry! Dining Room walks out onto huge deck overlooking the spacious & sunny fully-fenced back yard - finished with low-maintenance landscaping! The unspoiled basement is laid out perfectly for your future development! Be sure to call ASAP and book your private viewing of this home!
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I have sold a property at 86 CITADEL PT NW in CALGARY.
This two-storey townhouse in Citadel Point is absolutely gorgeous and a MUST SEE! 3 bedrooms upstairs! 1.5 baths (includes the master ensuite)! Bright white kitchen with loads of counter space and overlooks the dining room! Unspoiled walkout basement just waiting for your personalized design! Single attached garage and additional parking in the driveway! Call today to arrange your private viewing as this home is sure to sell quickly!
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I have sold a property at 163 ARBOUR VISTA RD NW in CALGARY.
It is our privilege to present this gorgeous custom-built bungalow perfectly located in the Estate area of Arbour Vista! No expenses were spared here, this home was built with pride! Some of the many features of this home include: a beautifully designed spacious kitchen with huge island and granite countertops, solid rich maple cabinetry, golden oak hardwood floors, solid maple 6-panel doors and beautiful crown mouldings throughout! Large dining space shares a 3-sided granite fireplace with the great room! 10-foot ceilings with knock-down finish on the main! Spacious Master Bedroom with gorgeous 5-piece ensuite! Mountain view from the 2nd bedroom/den! Professionally developed basement with 9-foot ceilings, wet-bar with more eye-catching granite countertops, 2 more large bedrooms with loads of closet/storage space, 4-piece ensuite bath and a rec/media room! The garage is completely dry-walled, insulated, heated and wired with 110 & 200 amps! Call us today for your private viewing!
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The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
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