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Calgary Real Estate Market Update - March 2024
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- čas přidán 9. 03. 2024
- 👉 March 2024 Calgary Real Estate Market Report: tcgroup.me/z69
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In this comprehensive Calgary real estate market update for March 2024, we delve deep into the current trends, provide valuable insights, and offer predictions for the near future. Discover which segments of Calgary's real estate market are gaining momentum, explore the factors driving home prices, and learn why properties are selling for well over asking prices. We analyze inventory levels, supply dynamics, and the impact of interest rate changes on the market. Whether you're a buyer, seller, or investor, understanding the nuances of Calgary's real estate landscape is crucial. Don't miss out on key information that could shape your real estate decisions. Stay informed and make strategic moves with our expert analysis. For more detailed statistics and insights, download our latest market report linked in the description below.
👉 March 2024 Calgary Real Estate Market Report: tcgroup.me/z69
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👉 March 2024 Calgary Real Estate Market Report: tcgroup.me/z69
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It's unfortunate that you deleted that other video. Transparency and decency took a hit. However keep up the good work, stay honest.👍👍
@@maxsteal1982 appreciate that.
I am upset that you removed previous video. You are the most honest realtor in Calgary 😢
Appreciate your comment and trusting in what we are doing! 🫶
I wouldn't delete any video because someone complains. Unless you broke some real estate law screw them leave the video up. Obviously you pissed off some sketchy or scummy agents screw them! Love your videos!
Appreciate that! Not looking to ruffle feathers but also don’t want to hide and say nothing when there’s something that is happening that’s frustrating for many buyers, sellers and agents alike.
@@ChamberlainGroup can u "leak" that video to some of us who didnt watch it :P :)
@@dineshabe86 😂
@@ChamberlainGroup Rumble? Damn ya so interested in this one. Whats the password? haha
@@jasoncayen bhahahaha! I did see the video when it was posted!
Saw the video you mentioned and I have to agree with all of the points mentioned. We were actively looking that time: going to open houses with ~50 people in it, doing a bid with 15 other people, then seeing houses sold ~100k over the listed price. You mentioning that it wasn't far from what should've been listed for that specific footage and neighborhood. It was such a waste of everyone's time.
Love your videos! Keep them coming!
Great vid. Finally nice opportunities for condo owners to sell. Thanks for your team’s help (Erin) moving up!
She’s incredible! 🫶
Too many people moving into AB from Vancouver and Toronto areas, their market was trashed years ago and now it’s trashing ours… Edmonton hasn’t seen the same growth because it is not nearly as appealing as Calgarys location…. I think you will also see a lot more supply pick up in 2-3 years when mortgages come up for renewal, but with how difficult it seems the banks sometimes make porting, I think part of this is due to people wanting to hold onto the better rates as long as possible… we want to buy a detached front drive home in cochrane but honestly at this point it’s more a pipe dream on 200k a year than a reality (we do not want to be mortgage poor, and by the time we can save up a bigger down payment the prices will have gone up more)
People can NEVER catch up with down payment.
200k and can't afford to buy? When will this travesty END?!
@@darbirhian People can still buy a house/condo to live, but that just means their options and square footage are getting smaller and smaller
@@davidjym Yeah for sure! It just seems beyond ridiculous that a 200k a year salary can't net an adequate SFH. I'm appalled! Even we got into the market, albeit with our cute townhouse, making north of 80k.
This is a great video - you took the time to explain the differences between the cities and which home types are doing the best! Your video popped up on my CZcams feed, keep up the great work!
Amazing. So glad it was helpful for you and thank you for the kind words!
Agents complained about your video? Why would they complain if those shady tactics weren’t happening? Also, houses selling in one day and agents are frustrated? The commission is insane for very minimal work (for a lot of agents who slack off).
There are many agents and clients involved in a multiple offer situation. There's only 1 listing agent and 1 winning buyer agent. Could be 30-60 other agents or buyers that are on the sideline, frustrated and all going to fight on the next home.
For the last one year I was saying that by the end of 2024 detached houses will hit 800k. Some people were saying I was crazy, no I'm not 😂
I don’t think so sir!
It just broke $700k this month. With the projected interest cuts in the second half of 2024, many will be completing for the houses again. We may not see $800k benchmark at this YE but the price will go up for sure.
800k is on the cards this year when they cut the interest rates. Just watch
It's matter of time b4 rally stops:)..
Just counting on immigration won't take real estate very far..now govermenr start cutting those numbers you will see big drop..
There are too many variables here which won't make predictions easy
I love your videos!!! I pass by your location all the time on Centre Street in Calgary! We are happy in our townhouse and not looking to sell, but if there ever comes a time where we are in a balanced market and our family is looking to upsize, we will reach out to Chamberlain Real Estate Group!!!
Amazing. Thank you for watching and commenting. We are here if that opportunity ever comes up!🙌
I just sold my house myself and some of the stuff agents in Calgary did were wild, you shouldn’t have to delete a video calling out bad behaviour
What happened to you and what did you see?
In Toronto, agent list town home for $999k, sold price usually around 1.3m. The purpose of the tactics is to attract showings, and offers. Realistically, the seller only looking 2-3 potential offers out of 8-10+ “supporting cast” offer to close the 2-3 realistic offers.
It’s true
Great content. Thank you very much. Please keep bringing more videos.
Every week! Sunday is when we release them. Thank you for watching and commenting. If we can ever help with buying or selling or questions let us know www.chamberlaingroup.ca/contact/ ~Jared
Thank you for this amazing video! ❤
You're so welcome!
I am the seller you are talking about. Inner city detached but im not willing to just sell. My offers will all be conditional on the sale of our home because there are literally no homes i want to actually go see
Are you putting offer? Do the seller entertain your offer?
It's a real thing. Timing it all is hard right now... I feel you! Conditional offers are hard in this market if a seller is looking at another offer that isn't conditional. Imagine if you are the seller. Would you choose an offer that has conditions, or something that has similar price with no offers? It's a hard place to be in currently. If you are needing help creating a strategy and come out winning in this market, just let us know. www.chamberlaingroup.ca/contact/
Don't sell for the sake of selling. Whatever you buy will be overpriced as well.
We have parents in Seattle and we decided to be closer to them and moved from detached house in Montreal to a 2bed apartment in Vancouver to find out that we will not be able to afford a house in Vancouver, the price is so high. That forces us to move back to Montreal as the cost of living it too high and we lost all the comfort we had in Montreal. And this is a hard decision as we never expected we will step back.
Now... looking at the market in Calgary it seems we made a mistake and should've look at something similar we have in Montreal and buy in Calgary. Yes, the trip to Seattle will be longer but on the same time is much closer :D As the frustration from the failure is so high and it will take time to recover, and as a person I don't like to give up, I was thinking to focus on Calgary for 2025-2026. But here is the issue... houses go up in the price :\
That sounds like a hard place to be in. Ultimately price will go up. So if moving here is something you really want to do, there will always be a way to do that. I encourage you to keep digging and doing what's right for your family. If you need and want us to help you with the transition, we can do so. www.chamberlaingroup.ca/contact/ (but from your user image, I recall you reaching out already, right?) Either way... let us know how we can help. 🙌
What I am confused about is sometimes I will see a great house and it sits for a long time and sells under or at asking, and other houses go and sell in 2 days with multiple offers. I feel like there has been so much inconsistency in terms of how different properties are selling too.
Very valid. There’s so many factors when it comes to the homes that sit and sell. Location, quality of interior (which varies from photos), pricing, day it was listed etc etc etc. are you looking to get into a specific area? Let us know if we can help create a strategy for you to bring clarity www.chamberlaingroup.ca/contact/
@@ChamberlainGroup I am! I’ll contact you guys on your site, thanks for the great content !
@@isabellelabbe6476 looking forward to connecting.
Current Vancouver resident here! My fiance and I were thinking of relocating to Calgary to purchase our first home. Do we wait until things cool down? Also, should we expect to be involved in bidding wars and pay more than we'd like?
So much to discuss as it depends on many various situations. Let’s chat here and we can help create a strategy with you and your fiancée that works for you. www.chamberlaingroup.ca/contact/
No bidding wars going on. This is totally overblown.
@@stephenperron6539 How many offers on homes have you been apart of YTD?
Prices unlikely to go down in Calgary in the near future.
I have a detached in NW Calgary with a legal suite which I bought for 400k in 2022. I am not making much money on it but rents cover expenses. Should I hold for now?
Great question and one we can help you analyze and come up with a strategy if you’d like. Lets chat here www.chamberlaingroup.ca/contact/
Thanks for the video. I do have a question. When you say you want to put together an offer with no conditions that includes inspection correct? If so, that seems not in the buyers interest and exposes their client to a large risk no? I understand you want your offer to be competitive but it just seems like that should be better regulated in my opinion. Would love to hear your take on it.
Cheers
That’s correct. No conditions is exactly that. When in multiple offers sellers sometimes want certainty and signing something that has no conditions is exactly that. We talk to our buyers and help them decide if they want to do that or not and it’s completely up to the client how they want to proceed.
@@ChamberlainGroupIf you are the buyer who will put an offer. Are you willing to do the No inspection offer? In current market.If you are buying and selling at the same time
.Can you still do contingent upon selling your property for your clients?
you can as per my realtor but it ill be even more difficult because the seller may get unconditional so they will go for those offers.@@user-uk3kx4yd7o
@@user-uk3kx4yd7o we can always add any condition in. It’s a matter of if the seller will accept it.
Glad I didn’t sell last fall, would have left 10/15% on the table. Thanks for video.
Some may say the same in a year or so. 🤷
@@ChamberlainGroup. I agree, the single detached home is becoming more of scarce commodity in Calgary it seems.
I work for a couple home builders in Calgary. Each put up around 13 to 15 houses a year. I do there landscape work. In the last year maybe 4 of the total amount of there houses have sold approximately 18 of these houses have been sitting unsold and empty for an entire year. I’m guessing it’s because of the outrageous price for an infill…. That’s is basically 2 houses built on the same property at 1 million plus per home. So in my option is someone is paying over asking price keep your bit*hing about interest rate too yourself.
Thank you for the comment! Was it the builders choice to hold? Or was it they were asking too high of a price and waiting for the market to come up to what they wanted? I’ve seen that happen lots this year too.
Those Wildrose Sure Smell Good
This isnvery interesting. Im working with great realtors in Red Deer , however as great as they are, inventory is the saddest story of my days right now. Really hoping things do pick ip because we need a home!
There seems to be. Lack of inventory in most cities right now. Will be interesting to see how the spring and summer play out. Thanks for commenting and watching!
People that lives outside of Calgary that don’t pay cities taxes not living in cities limits so success brings challenges.
Been looking to invest for years, this market sucks. Prices way too high, rates way up (you think the prices would go down), and now too few available 😢
There are great options for investments, just depends on what your expectations are for an investment. As stated in this video, I don't think prices will be going down. Prices are catching up to what they should be compared to the average in the country.
Shouldnt have deleted the video. It was facts!!! I experienced it first hand in Copperfield. Realtors were listing low and resulted in bidding wars where property sold way over market. It was a horrible experience. Now property prices are astronomical inthat area
Appreciate the comment and watching. Dont worry, facts will still be discussed! Prices are rising regardless of this tactic and I don’t fully think that prices are higher because of this. In the original video I showed how doing this didn’t lead to higher sale prices but rather just more frustration for all other parties involved. Either way, they have the freedom to do this if they believe it’s best for them.
This is the current practice in ON and look where that has led us 😢
Bring video back, all attention is good attention
Not many sales, is not good for realtors. I suspect many aren’t getting paid at all
I agree. The market is hard. If agents aren't honing their skills and learning new ways to work in this market and set client expectations, it could be a hard couple of years for many.
Do you make videos on the Edmonton area? Your insights would be greatly appreciated.
We don't currently, but looking at it. Are you looking to invest or buy in Edmonton? If so, just reach out and we'll connect you with our partners up there www.chamberlaingroup.ca/contact/
Love the content. What about "home builders" in the types of "sellers"?
I don’t see them as the same because they are creating a new product. Not apart of the resale world. Very different markets.
Prices Still need to go up , Calgary had 6 years freezing housing prices compared to other cities in Canada, these changes are necessary. wait till oil price hit 100 and conservative win the 2025 election.
💯 👆
Langdon is better than Okotoks, not overpriced and growing faster, better financial opportunity
It’s great place. Very small and limited amenities within the town, but still close to amenities in Chestermere.
If you live in the middle of nowhere, the price will reflect that.
Great video!
Any idea when the downtown condo market may see some increase? I've got a condo in east village and just been waiting until I can sell at the cost I purchased back in 2016... If I were to sell now I would be at about 100~150k loss...
The condo market has seen lots of increases lately. To help you understand your specific building, we can get the info about the unit and help you come up with a strategy. Let's connect here www.chamberlaingroup.ca/contact/
There's not much demands for living close to downtown anymore after the pandemic.
Undervalued listing is such a scummy tactic. Sad that Chamberlain took down the video, these listing agencies need the blinds taken off.
Appreciate your comment and watching! Taking it down was ok. It was our decision to do so. Could have kept it up and caused issues, but it isn't worth the fight. The topic is hot and something we will continue to talk about.
What about buying precon condos or towns? You think a good option? Especially given closing on condos would be 2028 or later.
I think its good as you wait it will appreciate so when you get possession and maybe things have changed you can sell at that time and make money off it.
The biggest problem with this strategy is there could be something that the builder says in their contract that you can't sell right away, you will have lots of direct competition with others doing the same strategy, all the while, the person who bought resale, has a tenant paying monthly with cash flow AND they too are getting the appreciation of the market. Second option seems better to me.
That's too far in the future. Developer might increase in price and ask you to either cough up more money or cancel the contract.
Wow! Will it ever slow down? Could be another 2 years before supply catches up.
Never. Trudeau is flooding the country with no plans to stop
Can I ping you about the video that was removed? Would be interested in seeing the content.
Unfortunately we aren't sharing the link. The topic was mainly what is discussed in the last 3rd of this video.
Appreciate your work and honesty!
These unethical practices by other agents are ruining your profession. It has already happened in GTA. They are no worse than car dealers these days 😐
Exactly right, many “new Canadian” Realtors are infamous for assisting speculation & money laundering. Read Sam Cooper's stuff, to begin.
Thank you for the comment and watching! truly!
I think it would be better to wait till interest rates return back to normal then only then buy a home. For now, rent
Interesting. What is the reason you think this and what is your definition of normal for rates to be at? Thank you for taking the time to comment and watch! 🙌
@@ChamberlainGroup as you are aware, the interest rates are on its peak due to inflation, thus, taking a mortgage right now will only make it worse. It is expected that the government will start decreasing the rates before the end of this year and it will probably keep declining till it returns back to its previous level before COVID. It may take 2 years give or take.
@@Jean.34 that’s all very true. But what about prices during the time you’re waiting. What will happen to them?
@@ChamberlainGroup Okay, no one knows the future but we can only analyze and expect.
1- I expect the prices to keep increasing this year due to migration from other states due to inflation. However, the prices will reach a point where it becomes no more attractive to people to continue their migration then migration will stop.
2. On the other hand, interest rates will decline in time and when it really decline, investors will start pulling out their money from banks and pump it in the market which will create more jobs in the big states which will also encourage people to stop migration.
3. There are many new under construction sites which will be available within the next 2 years.
based on these 3 points, I expect the real estate market in Alberta generally to settle down. The prices will never return back as it used to be back in 2021 but it will probably return back to what it was at the end of 2023 beginning of 2024.
After all, these are just analysis amd expectations based on past similar situations occurred in different areas but no one can know for sure 😁.
Little gambling I guess 😉
Guess the triburt to some realtors about over pricing
Is the town of cochrane a safe place to raise a family ? Does it have a homeless issue?
It’s very safe. If you want to learn more and create a strategy to move there let us know. www.chamberlaingroup.ca/contact/
Agents ye what can I say they hate someone getting the true information
Thanks for the comment. Not sure what you’re meaning. Can you clarify?
This so sad to see the video getting deleted. My question is:-
Did the concerned brokerage go deep into the details and actually looked into the issue?
People getting benefit from making fake offers or putting homes on undervalue amount got triggered for sure.
If those guys have a point to make, make it publicly and we’ll see if any of their talk makes any sense. This is pure BS IMO, sorry for the language. I have been a follower of this channel and my faith just got more stronger.
Love this. Thank you for your comment and commitment to watching our channel! 🫶 They didn't go deep into the issues, and truthfully I don't want to spend my time and energy on them. We will be able to address the issue in many other ways that will be as impactful!
@@ChamberlainGroup I can understand the limitations of being into a profession and I completely get it. All I can say is keep spreading awareness and positivity with your content. I am sure there would be many silent watchers like me who wish you great success. Keep growing 👏🙏
@@SuperRakshit007 🫶🙌
Take a video down because you pissed off the establishment!? another example of Realtor's colluding! Class action suit will shut these guys down!
Maket wont go far, when people realize it is no longer more affordable living in Calgary than in Vancouver and Toronto then there is not a single reason to live there …. As usual calgary real state is a buble that burst everytime people go back to toronto and vancouver, last 20 years it happened at least twice
Interesting point of view. It wasn’t people relocating here from Vancouver and Toronto in any of last ‘bubles’ as you call them. We’ll see how this one plays out.
Issue is a lot of property is currently held by out of province or in province investors for speculation, which is lowering the MOI by atleast 2-3 points.
In new communities, almost 70% of the homes get bought, and then rented right away, typically asking $100-$150k over purchase price
I am seeing a lot of rent price drops in my neighbourhood, if rates maintain as Is. Most of these investors will off load these properties.
Canadians are also migrating to Calgary for never-before reasons, after the unprecedented lockdowns & “health” mandates, too.
I wish i had bought 20 years ago according to you ..i would have made a million.
Those agents getting mad at you are the scummy ones. There are a lot of scummy agents, they are pretty much like used car salesman
Appreciate your view and commenting.
Joke headlines. You are just pumping the market so you can get more $$ commissions
Sure… 🙄
Bro, there is the headline....."Calgary Real Estate Market Update - March 2024". It literally gives us an idea of what this video is all about.
@@MJ-cg8vp 😂
Get with your down-payment..i am with him😂
Do not buy if you really don't have to. You will be buying in peak and don't get into the hype of FOMO. The Canada property groovy train is going to come to halt sooner than later.
I would agree, but I think you’re saying Calgary is on the same trajectory as the other major cities in Canada. Calgary is trading at a discount to where it should be so not sure if this advice is solid.
@@ChamberlainGroup Calgary is only discounted on price compared to Toronto and Vancouver. Perhaps only new built can justify this hyped up price.
I ignored exact same suggestion by people like you in last year and my house in calgary is up 50k. So please dont advise if you dont have a crystal ball on top of no knowledge of immigration trends.
@@davidjym it appears to be on discount to them correct. For what Calgary offers and historically where Calgary should sit in our country when looking at the national average, it’s still discounted.
@@ChamberlainGroup good news only for selllers that are leaving Calgary or downsizing since everything is inflated at least $100k so it all equals out at the end.