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Calgary real estate: 5 most expensive homes December 2023

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Calgary’s housing market remains strong with increased listings and price growth.

According to the Calgary Real Estate Board (CREB), the city saw 1,787 home sales in November, marking an 8.8 per cent increase compared with the same month last year.

New listings rose nearly 40 per cent compared with last year, reaching 2,227 units, with the most significant gains coming from homes priced over $600,000 hitting the market.

The unadjusted residential benchmark price for a home in Calgary rose to $572,700, marking a 10.7 per cent jump compared with November 2022.

if you fantasize of purchase of a lavish new home, there’s certainly a number for sale in Calgary.

Here are the city’s five most expensive residential homes for sale as of Dec. 1, 2023, according to Realtor.ca:

$9.9M PUMP HILL HOME

A look at 19 Pump Hill Close S.W. in Calgary, Alta. (Realtor.ca)This 10,600-square-foot-home in Pump Hill is inspired by the Provence region in France and sits on a 0.6-acre lot.

The home features six bedrooms, seven bathrooms, five fireplaces and a heated nine-car garage.

“An architectural masterpiece, this home harmoniously fuses the finest in French and Italian craftsmanship,” says the listing.

“Every corner of this bespoke dwelling is adorned with custom-made chandeliers, exquisite light fixtures, ornate French door handles, luxurious curtains and solid kitchen cabinets with French styling.”

A look inside 19 Pump Hill Close S.W. in Calgary, Alta. (Realtor.ca)The two-storey home is located at 19 Pump Hill Close S.W.

$8M HOME IN THE UPCOMING COMMUNITY OF PROVIDENCE

A look at 4111 162 Ave. S.W., in Calgary, Alta. (Realtor.ca)This 9,031-square-foot home sits on 18 acres of land in an area that will soon become the new Calgary community of Providence.

Located at 4111 162 Ave. S.W., the home is two storeys and was built in 2011.

A look at 4111 162 Ave. S.W., in Calgary, Alta. (Realtor.ca)It has a sports room, theatre room and a hockey arena.

It has five bedrooms and six bathrooms.

$7.9BUNGALOW IN EAGLE RIDGE

A look at 40 Eagle Ridge Place S.W. in Calgary, Alta. (Realtor.ca)This gated bungalow in Eagle Ridge sits on a sprawling double lot.

Built in 1971, the home has four above-grade bedrooms and one below grade, plus seven bathrooms.

“Once you step inside past the hand chiseled walnut doors, you are greeted by a grand foyer that sets the tone for the splendor that awaits,” states the listing.

“The main rooms are nothing short of magnificent, boasting expansive dimensions and exquisite finishes.”

A look at 40 Eagle Ridge Place S.W. in Calgary, Alta. (Realtor.ca)The home may be of interest to culinary enthusiasts due to its walk-in cooler, gas cooktop, double ovens and commercial-grade appliances.

“Whether you’re hosting a grand gala or preparing an intimate meal for loved ones, this culinary haven is sure to impress.”

$7.5M ESTATE IN UPPER MOUNT ROYAL

A look at 717 Royal Avenue S.W. in Calgary, Atla. (Realtor.ca)This three-storey 5,743-square-foot home in Upper Mount Royal sits on an acre of land.

Fully gated and “very private,” the listing says the home comes with “spectacular city views.”

Called the Sayre Estate, the house is located at 717 Royal Ave. S.W.

It was built in 1910 and is steeped in local history, including a period serving as a convent.

A look at 717 Royal Avenue S.W. in Calgary, Alta. (Realtor.ca)”The house boasts plenty of areas in which to relax, spend some quality time together or unwind in peaceful solitude,” says the listing. “The bright sun filled family room, the sumptuous den with its hotel bar (complete with brass foot rail), the theatre room with 108” screen or the home gym with shower and sauna.

“The primary bedroom is a sanctuary unto itself, complete with a sunken lounge area, a cozy fireplace, a walk-in closet, and a luxurious en suite bathroom.”

$6.2M HOME IN UPPER MOUNT ROYAL

A look at 860 Hillcrest Avenue S.W. in Calgary, Alta. (Realtor.ca)Built in 2019, this 5,813-quare-foot Upper Mount Royal home is described as an “architectural gem.”

“The attention to detail is evident at every turn, showcasing the meticulous craftsmanship and thoughtful design,” says the listing.

“The interior combines warm, natural elements with modern finishes. Rich hardwood floors provide an elegant foundation while the expansive use of glass allows for an abundance of natural light to flood the rooms.”

A look at 860 Hillcrest Avenue S.W. in Calgary, Alta. (Realtor.ca)The three-storey home has six total bedrooms and eight bathrooms, central AC and a golf simulator.

It’s located at 860 Hillcrest Ave. S.W.

 

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Greater Toronto home sales jump in October after Bank of Canada rate cuts: board

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TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.

The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.

The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.

“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.

“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”

The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.

New listings last month totalled 15,328, up 4.3 per cent from a year earlier.

In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.

The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.

“I thought they’d be up for sure, but not necessarily that much,” said Forbes.

“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”

He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.

“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.

“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”

All property types saw more sales in October compared with a year ago throughout the GTA.

Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.

“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.

“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”

This report by The Canadian Press was first published Nov. 6, 2024.

The Canadian Press. All rights reserved.

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Homelessness: Tiny home village to open next week in Halifax suburb

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HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

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Here are some facts about British Columbia’s housing market

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Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

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