I hope you're doing wonderfully! It's that time again for our monthly newsletter, specially curated for you. In this issue, dive into the latest February Market Statistics infographic to keep you ahead of the curve. Discover upcoming local events and the freshest real estate news to stay connected and informed.
The main feature offers an in-depth look at the evolving construction costs for single-family homes across Canada, comparing insights from 2023 and 2024—a must-read for prospective buyers and builders. I also explore the beauty of gardens, revealing the meanings behind popular flowers and colours. Plus, explore the highlighted neighborhood to uncover the unique appeal and opportunities of this featured area.
I'm here for all your real estate needs and questions. Whether you're considering a change or simply curious about the market, let's chat about your plans and how we can achieve them together.
Low inventory and high demand drive price gains in February
New listings continued to rise in February, reaching 2,711 units. However, the rise in new listings supported further growth in sales, which increased by nearly 23 per cent compared to last year for a total of 2,135 units. The shift in sales and new listings kept the sales-to-new listings ratio exceptionally high at 79 per cent, ensuring inventories remained near historic lows. Low supply and higher sales caused the months of supply to fall to just over one month, nearly as tight as levels seen during the spring of last year. Purchasers are acting quickly when new supply comes onto the market, preventing inventory growth in the market," said Ann-Marie Lurie, Chief Economist at CREB®...READ MORE
Women's Day History Tours at Lougheed House (Mar 7 – 9) Celebrate International Women's Day this year with a special historic tour of Lougheed House. Explore the lives of Victorian women and the diverse female residents of the house throughout its history. Mount Royal Conservatory Presents Jazz on Lincoln Park (Mar 15) Explore Calgary's jazz scene with "Jazz on Lincoln Park" by Mount Royal Conservatory. Join monthly Friday evening concerts in Lincoln Park and meet the artists through interviews! Spring Backyard Canada Market Fest (Mar 15 – 16) Kick off the spring season in style by supporting local artisans, food purveyors, and beverage vendors at Backyard Canada. Indoor Pan American Cup (Mar 18 – 22) The Indoor Pan American Cup gathers elite men's and women's indoor field hockey teams from across the Pan Americas, all striving to qualify for the prestigious Indoor World Cup. Be sure to attend and root for Team Canada as they compete for a spot in this global event. Grape Escape (Mar 22 – 23) Join Calgary's biggest upscale wine, spirits, and beer tasting event! Savor tastings guided by expert winemakers and distillers, featuring hundreds of selections from 100+ vendors. Experience diverse drinks, delicious food, and great times! Easter Holiday Brunch (Mar 30 – 31) Join an exciting Easter Brunch at the zoo! Indulge in gourmet breakfast treats like eggs Benedict and Belgian waffles, alongside fun activities including Easter egg hunts and crafts. Don't miss out on this memorable celebration! NMC Presents: Rock the Nation (until Apr 28) Due to high demand, National Music Centre presents Rock the Nation matinee shows every weekend at Studio Bell. Enjoy live performances featuring hits from iconic artists such as Paul Anka, the Guess Who, Neil Young, and many others. Experience a journey through decades of music on stage!
The "Cost Guide 2024" unveils insightful details on construction expenses for wood-framed residential structures, spotlighting single-family residences with unfinished basements throughout Canada. By analyzing this data, we've calculated the construction costs for a 2000 sq ft single-family home with an unfinished basement across various cities.
A compelling trend emerged from the 2023 to 2024 comparison: Calgary and Edmonton are at the forefront with an impressive 16.67% surge in lower-end construction costs, indicating robust market dynamics. In contrast, Montreal offers a distinct narrative, showcasing a modest reduction in high-end costs by 2.44%.
Driving factors such as substantial infrastructure investments, prevailing housing shortages, and vigorous population growth continue to fuel the demand for new homes. However, this is balanced by moderating costs in equipment and materials, mitigating overall increases in the construction process.
Below is a detailed comparison of construction costs for a 2000 sq ft single-family home with an unfinished basement between 2023 and 2024, capturing the percentage shifts:
This analysis not only highlights the financial aspects of building a home in Canada but also underscores the complex interplay of market forces affecting construction costs. As we navigate these changes, staying informed is key to making strategic decisions, whether you're planning to build, buy, or invest in Canada's housing market.
Source: Data extracted from Altus Group's Canadian Cost Guides for 2023 and 2024, available at Altus Group's website altusgroup.com
Nestled along the southern shores of the Glenmore Reservoir, Bayview offers a picturesque setting and a diverse range of housing options, including spacious single-family homes and upscale condominiums. Residents enjoy easy access to outdoor recreational activities such as sailing, kayaking, and hiking in the nearby parks and natural areas.
The neighbourhood boasts excellent educational institutions, amenities, and transportation links, making it an attractive choice for families and professionals alike. With its strong sense of community and serene atmosphere, Bayview provides a perfect blend of urban convenience and natural beauty for homebuyers seeking a peaceful yet vibrant living environment in Calgary.
