August 2024 - Calgary Real Estate Update

by Justin Newman

 


Welcome to the August 2024 Real Estate Update, 

I hope you're enjoying the summer sunshine! I'm excited to bring you this month's newsletter, packed with insights to help you navigate our dynamic real estate market. You'll also find a list of exciting local events and the latest real estate news to make the most of your summer.

 

My main article dives into how top elementary schools in the area are shaping real estate decisions – a must-read if you're considering a move. 

 

Plus, I've featured another interesting neighborhood spotlight and included a handy guide on selecting the perfect front door material to boost your home's curb appeal.

 

As always, I'm here for any questions or real estate advice you might need. Whether you're curious about market trends or ready to start your home search, feel free to call or text me anytime.

 

Justin Newman
Mobile: 403-969-5542
Office: 403-668-1272
✉  justin@happyhousehunting.ca
www.happyhousehunting.ca

Supply levels improve, taking some pressure off prices

With the busy spring market behind us, we are starting to see some shifts in supply levels. With 2,380 sales and 3,604 new listings, the sales-to-new listings ratio fell to 66 per cent, supporting a gain in inventory. Inventories rose to 4,158 units, still 33 per cent below what we typically see in July, but the first time they have pushed above 4,000 units in nearly two years. Although the majority of supply growth occurred for homes priced above $600,000, the rise has helped shift the market away from the extreme sellers’ market conditions experienced throughout the spring...READ MORE

Calgary real estate market moves closer to balanced... – Western Standard
Calgary home sales fall 10% year-over-year as prices rise in... – Calgary Herald
West among the best for home price appreciation in Canada – Calgary Herald
Calgary homes similar in price to Dallas – Calgary Herald
Calgary sees 13% drop in sales amid supply challenges, rising prices and... – REM
More income needed to qualify for mortgages in Calgary – Calgary Herald
Calgary’s commercial real estate market driven by multi-family... – Calgary Herald

Calgary Fringe Theatre Festival (Aug 2 – 10)
Support theatre artists across disciplines by watching live indoor Fringe Theatre performances for in-person audiences. Enjoy special events after the shows and watch recordings on demand from home.
Airdrie Windwood Music Festival (Aug 3 – 11)
International artists will gather in Airdrie for a two-week residency to create music projects that celebrate sustainability, community, and the arts. These projects, inspired by local landscapes and produce, will be showcased in various public spaces, highlighting collaboration between community members and music.
Music in the Plaza at Heritage Park (Aug 7, 14, 21 &  28)
Enjoy free live music in Calgary all summer, featuring top emerging bands each week. Watch from the Selkirk patio while dining or explore the Haskayne Mercantile Block before settling in with a lawn chair and popcorn.
Calgary Dragon Boat Race & Festival (Aug 9)
The Calgary Dragon Boat Race & Festival at North Glenmore Park features dragon boat racing, cultural events, entertainment, and attracts over 1,250 competitors and 3,000 spectators. Supporting local businesses, the festival hosts 50 vendors and 15 food trucks.
YYC FanFair (Aug 10)
Prepare for an immersive adventure where top vendors offer comics, toys, art, and more, along with thrilling entertainment for all ages. Discover unique collectibles, enjoy activities like the Video Game Trader Arcade, and see impressive cosplays like the Alberta Ghostbusters, all while celebrating creativity and passion for pop culture.
Marda Gras Street Festival (Aug 11)
The city's longest-running street festival returns to Marda Loop, offering a free, family-friendly event with exciting activities and a Pet Pageant. Co-presented by Calgary Co-op and Truman Homes, enjoy a day of local shopping, community connections, and pedestrian-friendly fun.
Expo Latino Festival (Aug 16 – 18)
Expo Latino features live music, dance, diverse Latin American cuisine, and a new Augmented Reality Experience. Enjoy food trucks, artisans, cultural pavilions, street performers, and a kids zone at this all-ages festival.
Summer Skirmish at The Military Museums (Aug 17 – 18)
Join Summer Skirmish 2024 for a weekend of thrilling re-enactments and interactive displays spanning 2000 years of warfare. Highlights include Viking raids, medieval duels, gladiatorial combat, musketry demonstrations, and modern military exhibits.

Calgary's education system is a cornerstone of the city's commitment to nurturing young minds. As parents and homebuyers, understanding the link between top-ranked schools and property values is crucial in making informed real estate decisions.

The Calgary Board of Education and Calgary Catholic School District oversee a diverse array of elementary schools, each contributing to the city's reputation for educational excellence. Recent initiatives, such as increased funding for STEM programs and enhanced language learning opportunities, have further bolstered Calgary's standing in the education sector.

While our infographic highlights Calgary's top 20 elementary schools, it's important to note how these educational gems influence the real estate landscape. Properties within the catchment areas of highly-rated schools often command a premium. 

What sets these top schools apart? Factors include innovative teaching methods, state-of-the-art facilities, and strong community involvement. Many offer specialized programs like French immersion or fine arts focus, catering to diverse student interests and learning styles.

For homebuyers with school-age children, here are some tips:

1.⁠ ⁠Research school ratings on the Fraser Institute website
2.⁠ ⁠Visit schools personally to get a feel for the environment
3.⁠ ⁠Talk to local parents about their experiences
4.⁠ ⁠Consider future development plans in the area that might affect school boundaries

Looking ahead, Calgary's education system continues to evolve. Plans for new schools in growing communities and increased integration of technology in classrooms signal a bright future. These developments not only enhance learning opportunities but also contribute to the long-term value of nearby properties.

In Calgary, a great education and a sound real estate investment often go hand in hand. Whether you're buying, selling, or simply curious about your neighborhood's educational landscape, understanding this connection is key to making informed decisions in our dynamic city.

 

Parkland is a welcoming neighbourhood characterized by its diverse housing options, including spacious single-family homes and contemporary condos. The area is celebrated for its lush parks, including the expansive Fish Creek Provincial Park, which offers recreational activities and scenic trails. Parkland's strong community spirit is evident through local events and active neighbourhood  associations. 

Residents enjoy easy access to quality schools, shopping amenities, and efficient public transit, blending a serene residential environment with urban convenience, making it a popular choice for families and professionals alike.

GET MORE INFORMATION

Justin Newman

Agent | License ID: 00540392

+1(403) 668-1272

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