Mindblown: a blog about philosophy.

Calgary’s luxury market shows significant growth amid challenging conditions elsewhere in Canada. In Q3 2024, Calgary luxury home sales over $1M ↑ 46% yearly.

In September, Calgary’s avg home prices increased approximately ↑ 13% yearly to ~$549K. The supply of resale homes surged, driven by higher activity in premium price ranges.

Calgary faces critical infrastructure issues with leaking water systems, deteriorating roads, and service cuts across the city. Recreational centres are overcapacity, making it difficult for residents to access essential services and amenities.

House prices in Calgary ↓ $4K in September, improving overall affordability. Calgary buyers benefited from lower mortgage rates and softening house prices, creating better opportunities.

A new affordable housing complex has opened in Crescent Heights, enhancing local housing options. The four-storey building features 35 one-bedroom rentals designed for young parents and seniors.

Calgary’s new zoning laws enable development of missing middle housing in established communities. Missing middle housing includes duplexes, triplexes, and low-rise apartments, enhancing low-density options.

Late-Q3 sales totalled 2,003 units, 17% below last year's record but 16% higher than average. New listings increased to 3,687 units, the highest for Late-Q3 since 2008, aiding inventory growth.

Calgary’s Real Estate market saw 3,687 new listings in September, the highest since 2008. Total standing inventory rose to 5,064 homes, nearly double spring’s low but below 6K avg.