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Terry Langdon

Terry Langdon

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When is the best time of the year to buy a house?

When is the best time of the year to buy a house?

When it comes to purchasing a home, timing can be everything. The real estate market fluctuates throughout the year, and understanding these cycles can give buyers an edge. Each season has its own set of advantages and disadvantages, and knowing what to expect can help you make an informed decision. **Winter: A Buyer’s Wonderland** Winter might not seem like the ideal time to buy a house, but it offers some unique benefits. The market tends to slow down during the colder months, which means there are fewer buyers competing for homes. This reduced competition often translates to better deals and more room for negotiation. Sellers who list their homes in winter are usually motivated to close quickly, possibly due to job relocations or other pressing needs. However, keep in mind that the inventory is also lower, so your choices may be limited. **Spring: The Season of Abundance** Spring is traditionally one of the busiest times in the real estate market. As the weather warms up, more homes are listed for sale, providing a wider array of options for buyers. This increased inventory means you’re more likely to find a home that meets your criteria. However, this abundance comes with heightened competition. Many buyers emerge from their winter hibernation ready to make a move, which can drive up prices and lead to bidding wars. If you’re looking for variety and are prepared for competitive offers, spring could be your ideal season. **Summer: The Family-Friendly Option** Summer is particularly popular among families looking to relocate before the new school year begins. The extended daylight hours make it easier to schedule viewings after work or on weekends. Additionally, moving during summer break minimizes disruption for children. Similar to spring, summer offers a robust selection of homes but also features high competition and potentially higher prices. If you’re aiming for a smooth transition with minimal impact on your family’s routine, summer is worth considering. **Fall: The Balanced Approach** Fall strikes a balance between selection and competition. As the frenzy of spring and summer subsides, fewer buyers are actively searching for homes, which can reduce pressure and offer better negotiating power. Sellers are often eager to close deals before the holiday season kicks in or before winter weather complicates moving logistics. While inventory may start to dwindle compared to spring and summer, you’ll still find a reasonable number of options without as much competitive tension. **Making Your Decision** While each season has its pros and cons, your personal circumstances will ultimately dictate the best time for you to buy a house. If you’re looking for deals and don’t mind less selection, winter could be perfect. If variety is crucial and you’re ready for competition, spring offers plenty of choices. For those prioritizing family convenience, summer is ideal despite higher prices. Fall provides a balanced approach with moderate inventory and less competition. Keep in mind that real estate trends can vary by location; what holds true in one area may not apply in another. It’s always wise to consult with local real estate professionals who understand the nuances of your specific market. In conclusion, while there’s no one-size-fits-all answer to the best time of year to buy a house, understanding seasonal trends can help you align your home-buying strategy with your personal needs and market conditions. Happy house hunting!
Top 10 Things To Do In Calgary

Top 10 Things To Do In Calgary

Calgary, Alberta is a vibrant city that offers a perfect blend of urban sophistication and natural beauty. Whether you're a prospective homebuyer, a new resident, or just visiting, there's no shortage of things to do and see. Here are the top 10 activities that showcase the best of Calgary's lifestyle, neighborhoods, and attractions.1. **Explore the Beltline District**The Beltline is one of Calgary’s most dynamic neighborhoods. Known for its eclectic mix of shopping, restaurants, and nightlife, this area is a hub for young professionals and creatives. Stroll along 17th Avenue SW to discover trendy boutiques, unique eateries, and lively bars.2. **Visit the Calgary Tower**A defining landmark of the city skyline, the Calgary Tower offers panoramic views that are simply breathtaking. At 191 meters tall, it provides an excellent vantage point to see the Rocky Mountains and the bustling city below.3. **Shop at The CORE Shopping Centre**Located in downtown Calgary, The CORE Shopping Centre is a premier shopping destination featuring over 160 retailers. From high-end fashion to everyday essentials, this mall has something for everyone. Don’t miss the stunning indoor Devonian Gardens located within the complex.4. **Dine at Prince’s Island Park**For those who enjoy combining nature with fine dining, Prince’s Island Park offers an idyllic setting. Located on an island in the Bow River, it’s home to River Café, one of Calgary’s top restaurants known for its farm-to-table cuisine.5. **Experience Inglewood's Art Scene**Inglewood is Calgary’s oldest neighborhood and a cultural hotspot. Wander through art galleries like Esker Foundation and shop for unique pieces at local artisan stores. This area also boasts some fantastic eateries and live music venues.6. **Discover Heritage Park Historical Village**Step back in time at Heritage Park Historical Village, Canada’s largest living history museum. This family-friendly attraction offers interactive exhibits that bring Western Canadian history to life through restored buildings and costumed interpreters.7. **Enjoy Nightlife in Kensington**Kensington is another vibrant neighborhood known for its energetic nightlife scene. With an array of pubs, cocktail lounges, and live music venues, it’s a great place to unwind after a day of exploring.8. **Attend an Event at Scotiabank Saddledome**Home to the NHL's Calgary Flames, Scotiabank Saddledome is also a premier venue for concerts and events. Catching a game or show here is an unforgettable experience that captures the spirited energy of Calgarians.9. **Visit Glenbow Museum**For art enthusiasts, Glenbow Museum is a must-visit attraction offering diverse exhibits ranging from indigenous artifacts to contemporary art pieces. It’s an excellent way to delve into both local and international cultures.10. **Stroll Through Fish Creek Provincial Park**One of North America's largest urban parks, Fish Creek Provincial Park offers endless outdoor activities including hiking, biking, bird watching, and picnicking. It’s a natural oasis perfect for those who love spending time outdoors.Calgary seamlessly blends modern amenities with rich cultural heritage and natural beauty—making it an appealing place for potential buyers looking for their next home or visitors seeking memorable experiences. Whether you're interested in shopping sprees or artistic endeavors, fine dining or historical exploration, Calgary has something special to offer everyone.
Calgary Real Estate Market Update August 2024

Calgary Real Estate Market Update August 2024

Calgary Real Estate Market Update: August 2024 The Calgary real estate market continues to demonstrate resilience and growth as we enter August 2024, with strong demand driving prices upward across various property types. Here's a comprehensive look at the current state of Calgary's housing market: ## Overall Market Trends Calgary's real estate scene remains robust, characterized by high demand and tightening supply. The market has seen a modest 4% increase in sales compared to the five-year average, indicating sustained buyer interest[1]. Despite a 10% uptick in new listings, overall inventory has decreased by 21%, creating a competitive environment for buyers[1]. ## Property-Specific Insights ### Detached Homes The detached home segment is experiencing some interesting shifts: - Benchmark price has risen to $690,900- Inventory is down 23% compared to the five-year average- Sales have dipped by 9%, likely due to reduced availability- Months of supply have decreased by 15%, indicating a seller's market[1] ### Apartments The apartment market is particularly hot: - Significant 29% increase in both new listings and sales- Inventory has decreased by 11%- Months of supply have plummeted by 68%- Benchmark price has climbed to $349,200[1] ### Attached Homes Attached properties are showing balanced growth: - 8% increase in new listings- 9% rise in sales- Inventory down by 29%- 49% drop in months of supply- Benchmark price now at $470,500[1] ## Market Drivers Several factors are contributing to Calgary's thriving real estate market: 1. **Population Growth**: Calgary's robust job market and economy continue to attract new residents, fueling demand for housing[2]. 2. **Economic Stability**: The city's strong economy supports ongoing real estate activity, with job growth attracting more buyers[2]. 3. **Limited Supply**: The decrease in inventory across all property types is creating upward pressure on prices[1]. 4. **Affordability Concerns**: Despite rising prices, Calgary remains more affordable compared to other major Canadian cities, attracting buyers from across the country[2]. ## Looking Ahead As we move through August 2024, experts anticipate continued price growth due to strong demand and limited supply. However, affordability issues may begin to temper the rate of increase[2]. Buyers and sellers should stay informed about market trends and consider factors such as interest rates, which could influence future market dynamics[2]. Calgary's real estate market remains one of the strongest in Canada, offering opportunities for both buyers and sellers. Whether you're looking to purchase your first home, upgrade to a larger property, or invest in real estate, understanding these market dynamics is crucial for making informed decisions in Calgary's dynamic housing landscape. Citations:[1] https://home.bode.ca/blog/calgary-real-estate-market-august-2024/[2] https://www.getcalgaryrealty.com/blog.html/real-estate-market-of-calgary-in-2024-8206478[3] https://home.bode.ca/blog/calgary-real-estate-market-july-2024/[4] https://beginwithdesign.com/blog/calgary-real-estate-market-insights-advantages/[5] https://wowa.ca/calgary-housing-market[6] https://www.greatercalgaryrealestate.com/blog/[7] https://www.truenorthmortgage.ca/blog/housing-market-forecast[8] https://creastats.crea.ca