RSS

Okotoks Realtor Just Listed Property in Signal Hill, Calgary

The Magnussen Real Estate Team" have listed a new property at 214 7239 SIERRA MORENA BV SW in Calgary.
This bright and clean SW facing corner unit boasts a titled parking stall in the heated underground parkade, a partial mountain view and more! Flooded with natural light, this 2 bedroom + 2 bathroom condo features hardwood throughout with an open concept layout, in-suite laundry with full-size laundry pair, a den that can be utilized as an office, dining room or living space, an ensuite bath, in-suite storage room, and an enclosed deck/sunroom. All of this ideally located close to Westhills shopping center with many dining, grocery, and retail options and close to public transportation. This 50+ building offers the benefits and convenience of a recreation room, hot tub, exercise room, car wash, a guest suite, party room, and a workshop.
 
Contact us for more information. 
Read

Calgary Real Estate Forecast 2020

The following is a summary from our attendance at the Calgary Real Estate Board's Annual Forecast workshop:


2019 IN REVIEW


The biggest economic changes that impacted real estate in 2019 was mortgage rates & mortgage rules as well as job growth (4% job growth over 2018). 

The lower end of the market was experiencing stability, while the higher end of the market was suffering. 

There was a palpable shift towards “more affordable” living in light of job loss, wage decreases, economy struggling, etc. A fundamental change in consumer preferences, resulting in more cautious spending. Consumers are making fewer large purchases and when they do, including investing, they make these decisions with more caution. 

Household incomes are 7% lower on average than they were in 2014. 


There has been a 10% price decrease across the entire Calgary & area real estate market since 2014.



2020 FORECAST


The economy is expected to continue to struggle. 

The real estate market in Calgary and surrounding areas such as Okotoks, Airdrie, Cochrane and more will continue to favor the buyer.

Economists expect re-sale home sales start to improve slightly with modest growth following a weak 2019. 

The general expectation is cautious optimism that the TMX pipeline will get built, eventually... And when it does that this will be a definite source for improvement in the real estate market. 

Employment levels are not expected to change very much.

In terms of population growth, we still have more people moving to Alberta than leaving; but at a lower level than “booming” times. Now it is at more comparable levels to other cities with “normal” population growth.

Rental market vacancy rates are starting to decline.

Bank of Canada interest rates are expected to maintain or cut rates - encourages sales activity. This creates a favorable lending environment for the spring real estate market.

Supply (# of resale homes on the market) reductions are expected throughout 2020. Inventory is still higher than normal but is expected to come down.

New home sales - the bulk of new home starts are in the apartment sector.

There has been a 10% price decrease across the entire Calgary, Okotoks & area real estate market since 2014. All home sectors continue to be over-supplied (detached, attached & condo). The pace of decline should start to ease this year.

Risks - global concerns/US economy creating anxiety amongst companies and investors, energy price volatility, government cuts to education and health care which have been sectors with the healthiest growth in recent years, the mortgage stress tests, the number of new home starts competing with resale homes.

In consumer behaviors and feedback we see that homeownership is still about more than just an investment - it is about housing stability, lifestyle, personal investment, cost certainty and more.


CONTACT US


If you have any questions or would like to discuss this information we would be happy to chat over the phone, or schedule a coffee meeting. 



Want to know what your home is worth today?


For a free, no-obligation CMA Comparative Market Analysis for your property please contact Jay Magnussen or Savannah Magnussen

Read
Categories:   2018 | 2019 | 2020 | 2020 Real Estate | A-7662, Diamond Valley Real Estate | Acadia, Calgary Real Estate | Airdrie Real Estate | Airdrie, Airdrie Real Estate | Alberta | Arbour Lake, Calgary Real Estate | Aspen Woods, Calgary Real Estate | Auburn Bay, Calgary Real Estate | Beltline, Calgary Real Estate | Black Diamond, Black Diamond Real Estate | Braeside, Calgary Real Estate | Bridlewood, Calgary Real Estate | Buying a home | calgary | Calgary Investment Property | Calgary Real Estate | Capitol Hill, Calgary Real Estate | Carstairs, Carstairs Real Estate | Cayley, Cayley Real Estate | Cedarbrae, Calgary Real Estate | Chaparral Valley, Calgary Real Estate | Chaparral, Calgary Real Estate | Charleswood, Calgary Real Estate | Community Event | contest | Copperfield, Calgary Real Estate | Coventry Hills, Calgary Real Estate | Cranston, Calgary Real Estate | CREB | De Winton, De Winton Real Estate | Deer Run, Calgary Real Estate | Dover, Calgary Real Estate | Eau Claire, Calgary Real Estate | Events | Evergreen, Calgary Real Estate | Falconridge, Calgary Real Estate | Family Activities | Family Day 2018 | First Time Home Buyer | Fixer Upper | Forecast | Forest Lawn, Calgary Real Estate | free pumpkin | Giving Back | Glenbrook, Calgary Real Estate | Harvest Hills, Calgary Real Estate | Heritage Pointe, Heritage Pointe Real Estate | High River, High River Real Estate | Investment Property | Killarney/Glengarry, Calgary Real Estate | Lake Bonavista, Calgary Real Estate | Legacy, Calgary Real Estate | Light Up Okotoks | Live Chat | Longview, Longview Real Estate | Magnussen Advantage | Mahogany, Calgary Real Estate | Maple Ridge, Calgary Real Estate | Market Update | McKenzie Lake, Calgary Real Estate | McKenzie Towne, Calgary Real Estate | Millrise, Calgary Real Estate | Mission, Calgary Real Estate | Montgomery, Calgary Real Estate | Moving to Okotoks | Nanton, Nanton Real Estate | New Brighton, Calgary Real Estate | Nolan Hill, Calgary Real Estate | Ogden, Calgary Real Estate | Okotoks | Okotoks Community Events | okotoks event | Okotoks home buyer | Okotoks Homes for Sale | Okotoks Investment Property | Okotoks MLS Listings | Okotoks Real Estate | Okotoks Real Estate Team | Okotoks Realtor | Okotoks, Okotoks Real Estate | Open House | Palliser, Calgary Real Estate | Panorama Hills, Calgary Real Estate | pumpkin patch | Real Estate | real estate advice | real estate advie | Real Estate Tips | remax | Remax Okotoks | Remax Real Estate | Remax Realtor Okotoks | Renfrew, Calgary Real Estate | Riverbend, Calgary Real Estate | Rural Foothills County, Rural Foothills County Real Estate | Rural Foothills M.D., Rural Foothills M.D. Real Estate | Rural Kneehill County, Rural Kneehill County Real Estate | Rural Rocky View MD, Rural Rocky View County Real Estate | Saddle Ridge, Calgary Real Estate | Scholarship | Seton, Calgary Real Estate | Signal Hill, Calgary Real Estate | Silver Springs, Calgary Real Estate | Somerset, Calgary Real Estate | Southwood, Calgary Real Estate | St Andrews Heights, Calgary Real Estate | Sundance, Calgary Real Estate | Sunnyside, Calgary Real Estate | Thing to do in Okotoks | Things to do in Calgary | Things to do in Okotoks | Turner Valley, Turner Valley Real Estate | Tuscany, Calgary Real Estate | Varsity, Calgary Real Estate | video | Walden, Calgary Real Estate | Willow Park, Calgary Real Estate | Winston Heights/Mountview, Calgary Real Estate | Woodlands, Calgary Real Estate
Categories
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.