Calgary Real Estate Market Update - May 2023

[@katrkg1016]

Due to some circumstances, we put into rent a 2Bed townhouse for a year, rather then having it vacant. Must admit, it was a heartbreaking exercise. The listing was live for less than 45 hours and we had 50plus applicants. If I were a sociologist or writer, I would have a material for an essay/study: born Canadians, newcomers, temp workers , interprovincial movers, etc with their life stories, even a realtor offering to buy out the unit. The most hurting moment was to see, in case with the long time renteres, their 40% increase for housing would incur, because their landlords are selling the property. PS. Rented out to a nice harworking mom of two kids at a reasonable price all included.

[@Canada-life-nature]

Thanks for sharing your thoughts and experience with us appreciate it 💐

[@ChamberlainGroup]

You're very welcome! Thank you for watching and being apart of our community...

[@rasmimantilla1365]

Excellent video. Was a home buyer in April😊

[@ChamberlainGroup]

Thanks for the comment and views Rasmi!

[@tamaratiessen2038]

Thanks for the update on the condo market! Most realtor vids I see only focus on detached homes. I've owned my condo (inner city) since 2015 and while I love condo living, I've been interested in moving but the market has not made that feasible option. I've felt stuck for years. You give me hope lol

[@ChamberlainGroup]

You’re very welcome. If you want to chat about it and how we can help get you unstuck let’s connect www.chamberlaingroup.ca/contact/

[@OfficialPorscheCentreCalgary]

Keep up the good work!

[@ChamberlainGroup]

Appreciate it!

[@sukhjitsingh8269]

If I moved to Calgary, I would work with you. I like the positive energy

[@ChamberlainGroup]

If you ever are please reach out. Im sure you know a few friends that are coming our way too and would be grateful for the mention of what we do to them 🙏🏼

[@christinecamley]

Thanks for the amazing update! Your information is outstanding and your hard work and preparation is fabulous!! Calgary is still a possibility for a move from Vancouver so, if so, I will be in touch! I watch all your updates! Cheers! 🙂

[@ChamberlainGroup]

Thank you Christine! Let us know when you’re ready and we’ll help create a strategy to get here. www.chamberlaingroup.ca/contact/

[@christinecamley]

@@ChamberlainGroup You are so amazing! Thank you!!

[@flyingwanderer2542]

You should say things like current state of market don't predict future..the number of business closed in calgary in last few years are far more than avg..highest unemployment rate..no one predict the future period..although, I agree about his selling point.

[@ChamberlainGroup]

With some knowledge and experience, I think one can make predictions. That doesn't mean they will come true. It's based on what they know and see happening. Wouldn't you agree?

[@jordana3020]

My son just bought in Cochrane. Reasonable price for 2000 square ft .This home would be 1 million plus in the GTA 😅

[@ChamberlainGroup]

Amazing. Many GTA’ers are loving Cochrane

[@logansorensen6009]

Hello ! I’m an Agent in Utah & Idaho. I’ve been tossing around the idea of buying a condo in Downtown Calgary. If I do, I’m probably a while out but am just curious- Are there any restrictions for US citizens wanting to purchase property in Calgary? I’d like to use whatever I purchase a STR if possible

[@ChamberlainGroup]

There are restrictions right now in place. Canadian foreign buyer ban. If you want to chat more just reach out [e-mail]

[@Kiki-dr1rj]

will housing price lower when interest rate lower? Investor from other cities (GTA and vancouver) might pulling their money out from Calgary and re-invest back to thier cities.

[@ChamberlainGroup]

it's not that simple... there's so many other factors and prices in Calgary probably won't just drop because interest rate drops.

[@__GirlGetUp__]

I own a house in mount pleasant .. it’s rented up and down right now and paying for itself. Not sure how long to sit on it! I keep hearing I’m sitting on a gold mine and to wait ?

[@ChamberlainGroup]

It's really hard to know. The market could continue to trend upwards... We do have some amazing systems to help you keep track of values, so if you want to chat about it all, just let us know www.chamberlaingroup.ca/contact/

[@Cumrocket69]

Quick question: I'm preparing myself to purchase a home in YYC (I've owned a property in Strathmore since 2010 and will convert it to rental) what credit score would be considered decent for a second mortgage? Obviously the higher the better, but what would you consider good enough?

[@mikej238]

question too long...void

[@ChamberlainGroup]

Probably best to chat more about your situation to advise properly and connect you with the right people. www.chamberlaingroup.ca/contact/

[@DanielaMiceli-h9z]

great info

[@ChamberlainGroup]

Thank you Daniela!

[@94OJGT]

basically have to put in a 30-40k over asking price offer or you dont have a chance to buy a detached home atm in calgary. its crazy!

[@ChamberlainGroup]

There’s such a short supply of homes for the demand. It is crazy! We have come up with a formula that has helped us win more of these offers that we use for our clients. But it is a very tight market with prices rising potentially weekly if not daily.

[@bbfloors1903]

Wait a couple years and you be paying 150k over atm price..there are no houses for the immigration wave coming in next few years, they will all end up in calgary like my cousins did.

[@lukkamshingtinaluk6130]

If the house price will increase, then it isn't a good timing to sell house right now.

[@ChamberlainGroup]

Only if you’re planning and can hold onto it. Not everyone has that flexibility. Sometimes selling something now and getting into a different home that will appreciate better or hold value longer is also something to consider

[@mninsane]

After wildfires in Alberta, i don’t think it’s a good place to pay for house. Already boring place to live as no cities nearby. People started high prices for houses bcoz lot of people moved to Alberta from other provinces bcoz of affordability. Extreme winter and extreme hot weather is here. I bet real estate for Alberta will go down pretty fast soon. High crime rate and limited job opportunities is another problem.

[@mikej238]

😂 fires, gee somebody flunked geography. This is Alberta not PEI. Lol 😂 Prices are rising in Calgary as supply is limited and Calgary has the highest growth per capita in the country . More people move to Alberta than any other province when they move in Canada. Starting to see lots of BC plates parked on our streets for months as they come here for work and to escape communist BC

[@GreenDragon-q9y]

@@mikej238 highest unemployment and more homeless than Vancouver

[@mikej238]

@@GreenDragon-q9y lol Do you live on Hastings Street. Must be.. Your sister must have bought a condo in a real dump if it took 15 years to go up. You lie.

[@ChamberlainGroup]

When was the last time you were down east Hastings? Calgary has nothing on that!

[@GreenDragon-q9y]

@@ChamberlainGroup actually went down there a few days ago and finally they are sort of clearing the tents out but they just all hide down harbour parks down in Stanley park and in alleys

[@amyhainsworth3739]

I've wanted to sell my condo for 7 years.... Perhaps now is the time!

[@ChamberlainGroup]

It could be... let's chat www.chamberlaingroup.ca/contact/

[@jp-ms5us]

Number one never trust a realtor and number two never trust a realtor. Check out what the chief economists and bank of Canada has to say. Remember you can be a high school graduate and become a realtor

[@ChamberlainGroup]

Thanks for that vote of confidence 😬😀 cheerio!

[@nickjohnston3882]

It is possible for anyone to become a CEO or business owner with a high school diploma and practical experience. Just like realtors and mortgage brokers, many tradespeople start with a high school education and build on their knowledge through hands-on experience and additional schooling. For instance, a realtor who has bought and sold over 500 homes likely possesses more knowledge and expertise than someone who has only bought or sold a couple of homes in their lifetime.

[@ChamberlainGroup]

@@nickjohnston3882 it’s so true… we’re nearing 3,000 homes soooo…. 📚📚📚📚lots of knowledge and experience gained. Appreciate the reply 🙏🏼

[@rachelk8368]

There’s little accountability for realtors. Yes they can be kicked out for fruad and have a lifetime ban but they keep saying things and predicting things that don’t always come to materialize. They don’t take care of clients when they overleverage themselves or lose their house

[@ChamberlainGroup]

@@rachelk8368 they is a general statement and isn’t a prediction something that could or couldn’t come to fruition? When you look up prediction it’s defined as “foretell on the basis of observation, experience, or scientific reason.” Personally I don’t like making solid predictions as there are WAY greater powers that be and influences on a market that can sway what happens. I think we can predict over a couple months but anything further is really hard.

[@JackSmith-k6g]

I cannot wait for this recession to normalize this frenzy and kick people that have had no business buying homes back to their province or on the street. Calgary has the highest unemployment rate of all major cities.

[@ChamberlainGroup]

Normalizing could take a while, unfortunately...

[@darcycook5680]

Its not a large unemployment rate by any means there jobs everywhere in calgary. There's too many people coming here Expect home prices to continue to go up i personally I think we will get close to 1 million benchmark if this doesn't let up by next year. Rental market is insane.

[@maksingh3513]

The inventory is low only of the built homes . There is no shortage of land in the are and there are communities popping up in every direction. construction costs have come down since the pandemic the prices are just up because the builders and realtors are keeping them up by manipulating the narrative .

[@ChamberlainGroup]

If only I had that much power 😂… I think there’s more going on than just a narrative push.

[@mohamad455]

I like your videos bud, but please stop adding FOMO into this crazy market. Anyone with a sound mind knows that its not a good time to buy right now as there is no way of it without over leveraging yourself. You are more Calgarian than me, but lets not forget the fact thaf Calgary and Alberta real estate in general is very cyclic in nature. People need to invest in themself and get proper education on finance rather than listen to realtors.

[@ChamberlainGroup]

Thanks for watching and commenting. We may not agree but hey… that’s what the comment section is for!