Truman launches new condo residence for University District

Truman launches new condo residence for University DistrictCalgary homebuilder Truman is launching a new condo residence in the northwest University District community. Esquire will be 185 single-level residences in two four-storey buildings, ranging in size from 652 square feet to 1,237 square feet, with a starting price point of $291,370. “Residents of Esquire will not only be neighbours with the great facilities…

Stampede chuckwagon canvas auction totals up this year

Total proceeds reached $3.28 million and the average bid for the 36 chuckwagon drivers was $91,250

Stampede chuckwagon canvas auction totals up this yearThe annual Calgary Stampede canvas auction, long considered a barometer of the economic climate in the city, raised slightly more money this year than last year for the July 2019 GMC Rangeland Derby. The Stampede said total proceeds reached $3,285,000, which was up from $3,238,000 in 2018. The average bid for the 36 chuckwagon drivers…

Calgary’s luxury home market still faces challenges

Sotheby’s International Realty Canada report says oversupply continues to burden luxury condo market

Calgary’s luxury home market still faces challenges“Sombre buyers’ market conditions” are expected for Calgary’s top-tier real estate market in spring 2019 as the provincial economy endures a prolonged recovery, according to a new report by Sotheby’s International Realty Canada. The report said persistently weak demand and excess supply are expected to cause further price declines for the city’s high-end market in…

Calgary’s resale housing market still lagging

MLS sales down 9.2% compared with the same period a year ago

Calgary’s resale housing market still laggingThree weeks into February, Calgary’s residential resale market continues to struggle with a high level of listings of homes for sale and soft demand. According to the Calgary Real Estate Board website, as of Feb. 21, MLS sales in the city were 720, down 9.21 per cent compared with the same period a year ago.…

Calgary Municipal Land Corp., Stampede partner to develop Victoria Park

One of the first tasks is to secure a hotel development partner in the neighbourhood

Calgary Municipal Land Corp., Stampede partner to develop Victoria ParkCalgary Municipal Land Corp. is partnering with the Calgary Stampede to develop the east Victoria Park neighbourhood. Under its agreement with Calgary Stampede, one of CMLC’s first tasks is to secure a hotel development partner to support the needs of the planned BMO Centre expansion at Stampede Park. CMLC has issued a request for proposals…

Canadian natural gas distribution revenues up in 2017

Average annual price of natural gas rose 8.7% from 2016. Deliveries were up 2.8%

Canadian natural gas distribution revenues up in 2017The Canadian natural gas distribution and transport pipeline industry posted total operating revenues of $18 billion in 2017, up 2.9 per cent from 2016, according to Statistics Canada. The federal agency said  total operating expenses increased 4.8 per cent from the previous year to $14.2 billion in 2017. As a result, the net revenue from…

Calgary industrial real estate market on the upswing

Cushman & Wakefield report says the vacancy rate is declining even as new space is added to the market

Calgary industrial real estate market on the upswingThe Calgary industrial real estate market remains active despite uncertainty surrounding the energy market, interest rates expectations and politics, says a report by Cushman & Wakefield. The report said the overall vacancy rate in the city fell to 7.5 per cent in the fourth quarter of 2018 from 7.9 per cent the year before. And…

Calgary apartment rental rates increase as vacancy declines

Improving market conditions have spurred investor interest: CBRE report

Calgary apartment rental rates increase as vacancy declinesThe vacancy rate of purpose-built apartments in Calgary decreased by 2.4 per cent in 2018 to 3.9 per cent, according to CBRE’s multi-family market overview. And the report said average apartment rental rates increased by 1.9 per cent to $1,146 after two consecutive years of declines. Supply in the rental market also increase by 3.7…

Resale home prices head south in bitterly cold February

Fewer homes sold and they're taking longer to sell

Resale home prices head south in bitterly cold FebruaryIt has been a bitterly cold February in Calgary and house prices in the city have felt the deep chill. According to the Calgary Real Estate Board website, the law of supply and demand has established its roots in the city's resale housing market so far this month. Demand for homes remains muted while the…

Young Calgary families face financial obstacles in saving for homes

Limiting dining out, travel and personal expenditures are the top three home purchase savings strategies for young families

Young Calgary families face financial obstacles in saving for homesAcross Canada’s key metropolitan areas, young urban families have identified the cost of covering basic living expenses, such as rent, groceries and utilities, as their leading financial barrier to saving for home ownership, according to a new report released on Wednesday by Mustel Group and Sotheby’s International Realty Canada. “This factor surpassed the significance of other…