# Calgary real estate market



## atrp2biz (Sep 22, 2010)

Can anyone provide some insight on the Calgary market these days? Our family will likely be moving up there in the summer (from Toronto), so we'll start our search in the spring.

We were up there last week and saw some places in Pump Hill, Altadore, Mount Royal and Discovery Ridge. Any thoughts on buying now or renting for a year and buying later?

Thanks.


----------



## Sampson (Apr 3, 2009)

If only any of us knew with certainty?

I know the following:

- pricing in Calgary has been much slower to 'recover' from the dip experience 2 years ago, so unlike Toronto and Vancouver, the "bubble" here isn't necessarily as inflated as in those two markets?

- pricing has been declining y-o-y, but at rates of under 1%

- rental vacancy rates are still relatively low, but seem to be on the rise but only marginally

- rental rates are expected to climb

- employment is probably on the rise, big firms are starting invest in capital projects again (maybe the reason you are moving here), but the amount invested has been conservative (i.e. Co's don't want to get burned again on inflation of capital costs, and/or the prospect of recovery is opaque)

Taken all together, I think there is risk of housing correction, but certainly no where near the levels of the magnitudes predicted for Toronto and Vancouver. Any declines in housing price maybe offset but a new wave of immigration spurred on by an improving energy sector.

Rental rates will probably stay about the same, since vacancy rates aren't decreasing much, and new migrants may begin to appear. Capacity is still very high, there was an overabundance of construction before and during the last boom, so plenty of good options and beautiful condos' out there for renters.

Bottom line, you probably don't risk much choosing either route. I would suggest renting for a year just to discover the city a bit more. All the communities you list are near the top end of the city, many of which you won't be able to find a detached house for under a mil.

Welcome to the City!


----------



## spp_24 (Apr 13, 2009)

I agree with Sampson's assessment. Certainly things have cooled signficantly and there have been few signs of a real market heat up. Prices have been stable with the exception of condos which have been overbuilt and are selling off.

Homes are certainly staying on the market much longer in my neighbourhood (Woodbine), but neighborhoods closer to downtown may be be hotter.


----------



## dogcom (May 23, 2009)

The problem Calgary has besides the boom and bust energy sector is the huge amount of land they can build houses on. Good areas closer to the city center should hold up better I would think as commute times get longer as the city spreads out.

Vancouver is in a different ball game then the rest of Canada and with the amount of immigration and the lack of land, it is hard to say what kind of a bubble it is in. I am not sure about Toronto but it probably faces a lot of the same problems that Vancouver does.


----------



## I'm Howard (Oct 13, 2010)

The news I get from Calgary is that commute times have become unbearable, so a House close to where you work might save a lot of headaches later.


----------



## atrp2biz (Sep 22, 2010)

I'm Howard said:


> The news I get from Calgary is that commute times have become unbearable, so a House close to where you work might save a lot of headaches later.


Ha! I drove up Glenmore and Crowchild during the rush and it was nothing compared to the DVP! That being said, we are looking further inside the city.


----------



## I'm Howard (Oct 13, 2010)

Nothing compares to the DVP, which is great, as long as it is moving.

I lived in Leaside, my office was in Richmond Hill, I was always going the opposite way to traffic.


----------



## kcowan (Jul 1, 2010)

I'm Howard said:


> Nothing compares to the DVP, which is great, as long as it is moving...


407 beats it because it moves both ways all the time...


----------



## I'm Howard (Oct 13, 2010)

True, but with or without a Transponder, the 407 ain't cheap.

Harris blew it on that one.


----------



## fifi (Apr 3, 2009)

*Calgary Market*

I'm in the process of selling my home in Calgary right now, and can tell you that for whatever reason, the past 3 weeks have been very busy; this is apparently an anomaly, since high-season seems to begin in January and run until summer...
Pricing has dropped a bit in the past 3 years, but I'd be surprised if it dropped significantly over the next couple years.
You are looking at high-end areas, that's for sure! Less selection in those areas, esp. Pump Hill and Mount Royal...
Good luck!


----------



## atrp2biz (Sep 22, 2010)

Okay, it's a done deal and we're moving to Calgary in June (from Toronto). Can anyone recommend a moving company? My wife's work is offering up to $15k for moving expenses. What will this get us? Full service?

I think we have our eyes on the Christie Park/Signal Hill area. It's a nice area, nice views and the C-Train extension is coming (we like public transit for whatever reason). The infills just won't cut it for our growing family.


----------



## MikeT (Feb 16, 2010)

We recently used amj Campbell van lines for a cross country move. I had nothing but a good experience with them. Very professional driver. Cost around that amount but we live cheap and don't have a ton of furniture. I didn't lift a finger. They packed everything as well as unpacked. Just had to organize things where I wanted them afterwards. Bought the movers lunch at both ends. Cheap way to get good service.

It's a multiday process on both ends, and a couple weeks transport time, so hotels were a requirement for a couple weeks. Take that into account. We stayed with family for some of it.


----------



## canehdianman (Apr 7, 2009)

I've never used moving companies, so I can't comment on that.

But welcome to the city


----------



## atrp2biz (Sep 22, 2010)

I'm hoping the cost will come in at that or below. Mind you, we will be leaving a lot of stuff behind. Our house is furnished with lots of Ikea stuff which we'll be leaving behind.


----------



## I'm Howard (Oct 13, 2010)

I had AMJ, bloody nightmare, I ended up doing most of the moving, charged 20% more than they quoted, and refused to leave until I gave them a cheque.

Never again.


----------



## kcowan (Jul 1, 2010)

Yes but did you buy them lunch?


----------



## MikeT (Feb 16, 2010)

Yes, that's the secret. They're complete turds until they get some chow. 

No, just joking. I don't know, I guess your mileage may vary. The head office people were more problematic than the movers for us, but still not that bad.


----------



## atrp2biz (Sep 22, 2010)

Hi Cowtowners,

Need some info. We've decided to rent while we look for the house that fits us perfectly. I'm in town now and have seen places all over the city. Based on the places I've seen, I've narrowed it down to Highwood Park and Braeside.

How long of a drive (during rush hour) is it from Highwood Park to Rockyview? Also, how long of a drive is it from Braeside to Peter Lougheed? Any thoughts regarding these two areas?

Thanks!


----------



## w0nger (Mar 15, 2010)

rockyview and PLC is on completely opposite ends of the city... between the two hospitals, it's about a 30-45 min drive in no traffic...


----------



## AshleyT (May 1, 2009)

It sounds like you are a doctor? You are going to be 20-25 minutes to both hospitals from Highwood (much worse on some days), and you will be 10-15 minutes from RGH in Braeside, but 40-45 minutes from the PLC. Note, I'm not one to underestimate driving times as is customary in Calgary. While I can appreciate the optimism of some ("I'm only 12 minutes from downtown in Springbank!"...actual driving time in rush hour 45 minutes-1hour), I don't think it helps for someone like you trying to make a decision. 

If I can make a suggestion, your best location for those two hospitals is going to be just South of downtown if you can afford it. So Elbow Park, Elboya, Britannia, Windsor Park or even Mount Royal, but I'm not a fan of Mount Royal (lower part is too rough, and upper part has ridiculous traffic for a residential area). This will put you 20 minutes from PLC (and reliably so because you don't have to take Glenmore) and 5-7 minutes from RGH. 

Beware of Altadore. It seems close to the neighbourhood I have listed, but is separated by the river, and only one road (Sifton) to get over adds a LOT of time going East/West. It is also zoned for high density housing, so much more crowded and lots of traffic. 

Good luck.


----------



## atrp2biz (Sep 22, 2010)

^^Very helpful. Thanks!


----------



## greeny (Jan 31, 2011)

Ouh, that´s an interesting information. Many thanks! 



AshleyT said:


> It sounds like you are a doctor? You are going to be 20-25 minutes to both hospitals from Highwood (much worse on some days), and you will be 10-15 minutes from RGH in Braeside, but 40-45 minutes from the PLC. Note, I'm not one to underestimate driving times as is customary in Calgary. While I can appreciate the optimism of some ("I'm only 12 minutes from downtown in Springbank!"...actual driving time in rush hour 45 minutes-1hour), I don't think it helps for someone like you trying to make a decision.
> 
> If I can make a suggestion, your best location for those two hospitals is going to be just South of downtown if you can afford it. So Elbow Park, Elboya, Britannia, Windsor Park or even Mount Royal, but I'm not a fan of Mount Royal (lower part is too rough, and upper part has ridiculous traffic for a residential area). This will put you 20 minutes from PLC (and reliably so because you don't have to take Glenmore) and 5-7 minutes from RGH.
> 
> ...


----------



## cosmica76 (Jan 31, 2011)

Actually news say about the decreased housing in Calgary. Instead national housing start to grow up at the moment. “Canadian residential construction activity appears to have stabilized at a level about consistent with underlying demographic demand. As such, housing won’t be nearly the driver of economic growth that it was through much of 2009 and early 2010, but it also looks like it won’t be a big drag either,” said Robert Kavcic, economist with BMO Capital Markets. You can read more here:http://bit.ly/hSCx9B


----------



## atrp2biz (Sep 22, 2010)

We've been lurking around the Calgary RE market over the past few months and it looks like property isn't moving. There are properties that have been around for months and have reduced their prices. This is good for us considering we're not looking to buy for another year or so. 

Does anyone in the area have an idea as to what it would cost to do a complete gut job of a house? What would a $100-150k job get us?


----------



## Calgary_Girl (Apr 20, 2011)

Hi there. I'm not sure what a "gut job" of $150k would get you but I do know that when we finished our basement in 2006 it cost us about $40K but this was at the height of the boom. Contractors prices have come off since then.

Yes, houses seem to be sitting longer on the market so I would definitely say it's a "buyer's market" right now. However, I live in Signal Hill on the West side and houses are still moving here provided that they are priced right and the owner isn't trying to be greedy by remembering the good old days of the seller's market in 2006.

Good luck and welcome to Calgary


----------



## calrest (Apr 13, 2011)

I don´t understand this market factor that why Calgary real estate grows slowly than Vancouver real estate? Maybe smaller market, but RealNet Canada say about the positive expectation for Calgary RE market. This is a good article with an economic statistics. Here is: http://calgaryrealestate.ca/2011/05/investment-in-calgary-commercial-real-estate-grows-modestly/


----------



## LBCfan (Jan 13, 2011)

Calgary prices grow slower than Vancouver for many reasons including:

Foreign buyers, how many in Calgary?
Land availability. Lot's of empty, restriction-free land around Calgary. Is Vancouver similar?
Retirees. Got an ocean? Got snow?

I'm retired and live on the prairies. I'd take Vancouver over Calgary in a flash if I could afford it.


----------



## atrp2biz (Sep 22, 2010)

Can anyone recommend a picky, anal-retentive home inspector in the Calgary area?


----------



## Sampson (Apr 3, 2009)

sent pm. ymmv but we were quite happy and have used this co. twice


----------



## KristyW (Sep 7, 2011)

Did Vancouver housing prices take a big hit like the U.S. West coast homes did? I'd much rather live in Vancouver than Calgary too. I would also think that housing values would climb faster in Vancouver than in Calgary because of demand. It's definitely a buyers market in most areas right now.
____________

Kristy - Has anyone ever used http://www.northamerican.com/ to move?


----------



## RichmondMan (Jan 31, 2011)

Did you hear about the most expensive house in Calgary? $12,000,000?? Is it normal and clever? I think No!


----------



## rd_aaron (Jun 24, 2011)

KristyW said:


> Did Vancouver housing prices take a big hit like the U.S. West coast homes did? I'd much rather live in Vancouver than Calgary too. I would also think that housing values would climb faster in Vancouver than in Calgary because of demand. It's definitely a buyers market in most areas right now.


Buyer's market in Vancouver right now? Are you insane??


----------



## Franky Jr (Oct 5, 2009)

Hey All,
So there was a financial type on the radio this week in Edmonton. Anyways he personally suggested that if he were to buy a rental property that he would first pay off his primary residence then buy a 2nd property..
I never thought that would be the best way to build up the old net worth. ( I like how simple and conservative it is )
Can anyone see that winning in the long run? 
Thanks


----------



## kwikemarket06 (Nov 6, 2014)

Calgary is a big city of Canada. The sales growth continues in 2014. The medium homes prices in Calgary is $490,000. If you want more information about real estate simply search *Calgary House for Sale*.


----------

