February 2025 - Calgary Real Estate Market Update

by Justin Newman

 
 

We’re fully in the middle of winter now, and many of us are thinking about summer days and spending time outside in the fresh air. Why not bring a little bit of that outside enjoyment into your home? In this month’s newsletter, we’ll look at some big plants you can grow indoors that will add a little colour and style to your living space.

If you haven’t already received it in the mail, property tax assessment notices are sent out in January. Make sure to check out the main guide below for tips and direct links on key deadlines to remember, payment options available to you, and how to appeal your notice if you disagree with your assessment.

As always, give me a shout if you have any real estate questions. Talk soon!

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

Supply levels improve in January

Following three consecutive years of limited supply choice, inventory levels in January rose to 3,639 units. While the 70 per cent year-over-year gain is significant, inventory levels remain lower than the over 4,000 units we would typically see in January. Inventories rose across all property types, with some of the largest gains driven by apartment-style condominiums. “Supply levels are expected to improve this year, contributing to more balanced conditions and slower price growth,” said Ann-Marie Lurie, Chief Economist at CREB®...READ MORE

Calgary 2025: A shift back to buying rather than renting homes – Calgary Herald
Calgary's luxury real estate boom: Is Rocky View County in... – Discover Airdrie
Market sees more supply to end year as home sales slow in... – Calgary Herald
Calgary experiences steepest decline in rental rates among... – Calgary Herald
Soaring demand sees record housing starts in Alberta – CTV News

Penguin Walk (until Mar 3)
Don’t miss the Penguin Walk at the Wilder Institute/Calgary Zoo, where king penguins take a daily stroll at 10:30 a.m. Included with admission, this delightful event runs until early March—reserve your tickets today!
YYC Hot Chocolate Fest (Feb 1 – 28)
Indulge and explore over 70 delicious hot cocoa creations. Sip, savor, and vote for your favorite to crown the best blend!
Murder at the Park: A Wedding to Die For (Feb 1 – 28)
Immerse yourself in mystery and intrigue at Heritage Park.  Enjoy a captivating dinner theatre experience as you uncover clues to solve this thrilling whodunit!
Wild About Ice (Feb 8)
Watch Canada’s top ice carvers bring stunning sculptures to life before your eyes! Dive into the fun with hands-on carving, delicious treats, and the chance to vote for your favorite masterpiece!
Wild After Hours: In the Heat of the Night (Feb 13 – 15)
Spend Valentine’s Day at the zoo with a romantic four-course dinner prepared by award-winning chefs. Top off the evening with a fun, adults-only presentation on how animals express love in the wild!
Fishtival (Feb 15)
Dive into Alberta’s icy waters at the 13th annual festival, featuring games, fish feeding, and theatrical performances. Explore interactive exhibits, snap photos, and win prizes with family-friendly fun for all!
Valentine's Brunch at the Zoo (Feb 16)
Celebrate Valentine’s Day with a themed brunch at the zoo, featuring gourmet favorites, festive décor, and romantic tunes. Perfect for couples, family, or friends!
Ethnik Festival of Arts and Culture 2025 (Feb 21 – 22)
Join a two-day celebration of Afro-Canadian and Caribbean cultures. Experience vibrant art, music, storytelling, and community connections!

It’s that time of year when The City of Calgary mails out your annual property tax assessment notices. These important documents estimate your property's market value as of July 1, 2024, and determine your property tax contribution toward essential city services.

Key Dates to Remember
The assessment notice arrives in January, and you'll want to mark these important dates:

- Customer Review Period: January 10 - March 21, 2025
- Tax bills sent: May 2025
- Payment deadline: June 30, 2025
- Late payment penalties: 7% on July 1 and another 7% on October 1

Understanding Your Assessment 
Your notice contains crucial information about your property, including its current market value assessment, building details, year of construction, and other key characteristics. Take time to review these details carefully for accuracy.

Payment Options Made Easy 
Calgary offers several flexible payment methods to suit your needs:

- Monthly payments through the Tax Instalment Payment Plan (TIPP)
- Property tax payments included in your mortgage (check with your lender)
- One-time payments via online banking, City Cashiers, or mail

When to Consider an Appeal 
If you disagree with your assessment, several factors might warrant an appeal:

- Incorrect property details (square footage, bedrooms, etc.)
- Significant value differences from similar neighbourhood properties
- Assessment values that don't align with market conditions

To address concerns, contact the Assessment department at 403-268-2888 during the Customer Review Period. If needed, you can file a formal complaint with the Assessment Review Board by the deadline on your notice.

Calgary's Unique Assessment Approach 
Your property tax bill is split between municipal and provincial portions. Municipal taxes fund local services like police, fire, parks, and transit, while the provincial portion supports education across Alberta. Calgary's system includes a generous two-month review period to discuss your assessment with the City before finalization.

Pro Tip: Consider enrolling in TIPP for convenient monthly payments. This helps with budgeting and ensures you avoid those hefty late payment penalties while providing peace of mind.

Panorama Hills, a sought-after neighbourhood in Calgary’s northwest, blends suburban charm with modern convenience. Housing options range from affordable condos and townhomes to mid-range and upscale single-family homes, many with walkout basements and views of Nose Hill Park or the golf course. 

The community features extensive green spaces, over 14 km of pathways, and the exclusive Panorama Hills Community Centre, offering a spray park, basketball courts, and a skating rink. Nearby amenities include schools, Vivo Centre, Country Hills Town Centre, and Landmark Cinemas. With quick access to Stoney Trail and Harvest Hills Blvd, Panorama Hills is perfect for families and commuters.

GET MORE INFORMATION

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Justin Newman

License ID: 00540392

+1(403) 969-5542

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