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How Recent Interest Rate Cuts Affect Calgary’s Real Estate Market: What You Need to Know

As a homeowner, buyer, or seller in Calgary, you’ve likely seen the news about the Bank of Canada’s recent interest rate cuts. With these changes, you may be wondering how they’ll impact your real estate decisions. Let’s break down what it means for you, whether you’re managing a mortgage, thinking of buying, or considering selling your property.

Good News for Homeowners with Variable-Rate Mortgages

If you have a variable-rate mortgage, there’s some relief coming your way. With the recent interest rate cuts, your monthly mortgage payments will likely decrease, making your financial situation a little easier. While the changes won’t be felt overnight, you’ll see more of your payment go toward the principal instead of interest. This means more savings over time and more room in your budget for other priorities.

Should Buyers Wait or Act Now?

Lower interest rates mean better borrowing conditions, but does that mean it’s the right time to buy? Experts like Penelope Graham at Ratehub.ca suggest waiting a bit longer. While rates are improving, housing prices in Calgary are still high. If you’re not in a rush, hanging back a little could work to your advantage, especially as more rate cuts might come this year. The combination of falling rates and potential price stabilization might create the perfect buying opportunity soon.

Sellers: Patience May Be Key

For those looking to sell, the current market conditions might seem uncertain. However, easing rates could gradually encourage more buyers to return. While we’re not likely to see a big surge in demand right away, more interest from buyers may help stabilize the market. Keep an eye on the trends and consider consulting with a real estate agent to gauge the right time to list your property.

What’s Next for Calgary’s Housing Market?

In the short term, we can expect a slow but steady response to these interest rate cuts. Buyers may remain cautious for now, but as rates continue to fall, more people will likely enter the market. By 2025, with additional cuts, we may see a more balanced market with increased affordability, especially if new housing inventory becomes available.

What Should You Do?

This is an excellent time to revisit your financial plan, whether you’re a homeowner, buyer, or seller. If you have a mortgage coming up for renewal, consider locking in a better rate or exploring variable options. If you're a buyer, stay informed about further rate cuts, and if you're a seller, keep a close watch on demand trends. Consulting with a real estate or mortgage advisor can help ensure you’re in the best position to navigate these changes.

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New property listed in Taradale, Calgary

I have listed a new property at 109 Tararidge CLOSE NE in Calgary. See details here

Excellent Opportunity to own a Detached house under 400k in Calgary for Quick Possession. This bilevel home comes with a huge living room with big bright windows which is adjacent to the kitchen and dining area. The main level features 2 bedrooms and a full washroom. Basement is finished with family room , bedroom and a full washroom. Convenient location and priced to sell . Call your favorite Realtor to make this your next home.

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New property listed in Cornerstone, Calgary

I have listed a new property at 864 Cornerstone BOULEVARD NE in Calgary. See details here

This west-facing 4-bedroom townhouse boasts a double attached garage. The lower level includes a versatile bedroom/den with direct access to the garage. On the main floor, enjoy a spacious open living area, a tech space, a balcony, a kitchen featuring quartz countertops, and a convenient 2-piece bathroom. Large windows throughout ensure excellent cross ventilation and abundant natural light. The upper level offers a laundry area, a linen closet, a 4-piece bathroom, two well-sized bedrooms, and a primary bedroom complete with a 3-piece ensuite and walk-in closet. Situated just steps from a shopping center with Chalo Frescho, RBC Bank, and Tim Hortons, and only a short drive from Calgary International Airport and local restaurants, this townhouse is a must-see. Don’t wait—schedule your showing with your favorite REALTOR® today! ***Virtual phots have been used for furniture display***

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Open House. Open House on Sunday, September 8, 2024 12:00PM - 4:00PM

Please visit our Open House at 864 Cornerstone BOULEVARD NE in Calgary. See details here

Open House on Sunday, September 8, 2024 12:00PM - 4:00PM

This west-facing 4-bedroom townhouse boasts a double attached garage. The lower level includes a versatile bedroom/den with direct access to the garage. On the main floor, enjoy a spacious open living area, a tech space, a balcony, a kitchen featuring quartz countertops, and a convenient 2-piece bathroom. Large windows throughout ensure excellent cross ventilation and abundant natural light. The upper level offers a laundry area, a linen closet, a 4-piece bathroom, two well-sized bedrooms, and a primary bedroom complete with a 3-piece ensuite and walk-in closet. Situated just steps from a shopping center with Chalo Frescho, RBC Bank, and Tim Hortons, and only a short drive from Calgary International Airport and local restaurants, this townhouse is a must-see. Don’t wait—schedule your showing with your favorite REALTOR® today! ***Virtual phots have been used for furniture display***

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Open House. Open House on Saturday, August 31, 2024 12:00PM - 4:00PM

Please visit our Open House at 585 Masters ROAD SE in Calgary. See details here

Open House on Saturday, August 31, 2024 12:00PM - 4:00PM

Welcome to your stunning oasis in the heart of Mahogany, Calgary's premier lake community. This exceptional 1779 sqft single-family home invites you to experience a perfect blend of luxury and functionality. Step into the main floor, where a bright and open layout welcomes you with 10 ft ceilings throughout, creating an airy and spacious ambiance. The living room seamlessly flows into a chef's dream kitchen, boasting a beautiful cabinet selection, built-in appliances, and pot lights that add a touch of sophistication. The dining area completes this space, providing the ideal setting for family gatherings and entertaining guests. Venture upstairs to discover the primary bedroom, a true retreat featuring a lavish 5-piece ensuite. Two additional bedrooms and a well-appointed family washroom offer comfort and convenience for the entire family. The fully finished basement adds valuable living space to this home, featuring a welcoming living room, a spacious bedroom, a bathroom for added convenience, and a storage area to keep everything organized. Step outside into your private sanctuary—the fully fenced backyard, complete with an oversized deck, is the perfect haven for family time, barbecues, and relaxation. To top it all off, there's a newly built DOUBLE DETACHED GARAGE to fulfil your parking needs. Create cherished memories in this spacious outdoor retreat. Living in the Mahogany community grants you exclusive access to the breathtaking Mahogany Lake. This 63-acre masterpiece stands as Calgary's largest lake, boasting an impressive 21 acres of beach area—more than any other community in the city. Mahogany Lake is the ultimate destination for those seeking the fun and relaxation that a lake lifestyle has to offer. Two private beach sites overlooking the lake provide ample space for a variety of activities, from beach volleyball and sandcastle building to simply soaking up the sun. Embrace the opportunity to make this exceptional Mahogany home yours and enjoy the unparalleled beauty and recreation that comes with living in this spectacular lake community. Welcome home to Mahogany, where every day is a vacation. Please call your favorite Realtor to book a Showing !

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I have sold a property at 195 Dawson wharf RISE in Chestermere

I have sold a property at 195 Dawson wharf RISE in Chestermere on Aug 22, 2024. See details here

Welcome to this FULLY UPGRADED BRAND NEW EAST FACING home with DOUBLE ATTACHED GARAGE offers a stunning blend of modern elegance and comfort located in the vibrant, family-friendly community of DAWSON LANDING in Chestermere. The main level boasts a welcoming entrance, powder room, cozy living room, a modern and upgraded kitchen with ample cabinet space and SS appliance package, a spacious dining area with an adjacent door to the backyard to enjoy outdoor activities. The upper level includes a luxurious primary bedroom with TRAY CEILINGS, a large ensuite and walk-in closet, two additional bedrooms, a bonus room, a 4-piece bathroom and a convenient laundry room completes this level. Lower level boasts a separate entrance, two good sized bedrooms, living area, kitchen, rough in for laundry and a full bathroom completes this level. Dawson Landing is known for its excellent amenities and family-friendly atmosphere, with an easy access to parks, schools, shopping centers, and major transportation routes. This is an incredible opportunity to own a beautiful home in one of the most sought-after neighborhoods. With its unbeatable location and immaculate condition, this property is a rare find in today's market. Don't miss out on the opportunity to make it yours – schedule a showing with your favorite realtor today before it's gone!

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New property listed in Chestermere, Chestermere

I have listed a new property at 195 Dawson wharf RISE in Chestermere. See details here

Welcome to this FULLY UPGRADED BRAND NEW EAST FACING home with DOUBLE ATTACHED GARAGE offers a stunning blend of modern elegance and comfort located in the vibrant, family-friendly community of DAWSON LANDING in Chestermere. The main level boasts a welcoming entrance, powder room, cozy living room, a modern and upgraded kitchen with ample cabinet space and SS appliance package, a spacious dining area with an adjacent door to the backyard to enjoy outdoor activities. The upper level includes a luxurious primary bedroom with TRAY CEILINGS, a large ensuite and walk-in closet, two additional bedrooms, a bonus room, a 4-piece bathroom and a convenient laundry room completes this level. Lower level boasts a separate entrance, two good sized bedrooms, living area, kitchen, rough in for laundry and a full bathroom completes this level. Dawson Landing is known for its excellent amenities and family-friendly atmosphere, with an easy access to parks, schools, shopping centers, and major transportation routes. This is an incredible opportunity to own a beautiful home in one of the most sought-after neighborhoods. With its unbeatable location and immaculate condition, this property is a rare find in today's market. Don't miss out on the opportunity to make it yours – schedule a showing with your favorite realtor today before it's gone!

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New property listed in Airdrie, Airdrie

I have listed a new property at 1328 South Point PARADE SW in Airdrie. See details here

Open house on August 4th, 2024 from 2 Pm to 4 Pm. Welcome to your dream home in Airdrie. This spectacular brand new construction 3-bedroom, 2.5-bath home offers the perfect blend of modern elegance and comfort, designed to meet all your family's needs. On the main floor, you will find a bright and spacious Living room, dining and kitchen. This classic open floor plan features 9-foot ceilings throughout the main floor and basement and includes a side-entry door to the basement. The kitchen is stunning and modern with cabinets, tiled backsplash, quartz countertops, s/s appliances, island/breakfast bar, LED pot lights. Vinyl plank flooring is installed throughout the main level. Walking out to the backyard you'll find a large deck and concrete pad for your future garage development. Upstairs you will find the primary bedroom with Tray ceiling creating an open and airy room. The Master Bedroom is spacious, has plenty of space for a King size bed, walk-in closet, and full ensuite with double sinks and a walk-in shower. Separating the other bedrooms is bonus room with a window that brings in lot of natural light. The upper floor also features 2 good sized secondary bedrooms & full bathroom featuring quartz counters. The upper level is completed with a laundry area. A large unfinished basement with separate entrance is awaiting your creativity. The property is in close proximity to a school, shopping, pond and green space with easy access to new 40 Ave overpass to Highway 2. Don't miss this incredible opportunity to own a brand-new, never-lived-in home with unique features and a prime location.

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Open House. Open House on Sunday, August 25, 2024 12:00PM - 4:00PM

Please visit our Open House at 585 Masters ROAD SE in Calgary. See details here

Open House on Sunday, August 25, 2024 12:00PM - 4:00PM

Welcome to your stunning oasis in the heart of Mahogany, Calgary's premier lake community. This exceptional 1779 sqft single-family home invites you to experience a perfect blend of luxury and functionality. Step into the main floor, where a bright and open layout welcomes you with 10 ft ceilings throughout, creating an airy and spacious ambiance. The living room seamlessly flows into a chef's dream kitchen, boasting a beautiful cabinet selection, built-in appliances, and pot lights that add a touch of sophistication. The dining area completes this space, providing the ideal setting for family gatherings and entertaining guests. Venture upstairs to discover the primary bedroom, a true retreat featuring a lavish 5-piece ensuite. Two additional bedrooms and a well-appointed family washroom offer comfort and convenience for the entire family. The fully finished basement adds valuable living space to this home, featuring a welcoming living room, a spacious bedroom, a bathroom for added convenience, and a storage area to keep everything organized. Step outside into your private sanctuary—the fully fenced backyard, complete with an oversized deck, is the perfect haven for family time, barbecues, and relaxation. To top it all off, there's a newly built DOUBLE DETACHED GARAGE to fulfil your parking needs. Create cherished memories in this spacious outdoor retreat. Living in the Mahogany community grants you exclusive access to the breathtaking Mahogany Lake. This 63-acre masterpiece stands as Calgary's largest lake, boasting an impressive 21 acres of beach area—more than any other community in the city. Mahogany Lake is the ultimate destination for those seeking the fun and relaxation that a lake lifestyle has to offer. Two private beach sites overlooking the lake provide ample space for a variety of activities, from beach volleyball and sandcastle building to simply soaking up the sun. Embrace the opportunity to make this exceptional Mahogany home yours and enjoy the unparalleled beauty and recreation that comes with living in this spectacular lake community. Welcome home to Mahogany, where every day is a vacation. Please call your favorite Realtor to book a Showing !

Read

New property listed in Mahogany, Calgary

I have listed a new property at 585 Masters ROAD SE in Calgary. See details here

Welcome to your stunning oasis in the heart of Mahogany, Calgary's premier lake community. This exceptional 1779 sqft single-family home invites you to experience a perfect blend of luxury and functionality. Step into the main floor, where a bright and open layout welcomes you with 10 ft ceilings throughout, creating an airy and spacious ambiance. The living room seamlessly flows into a chef's dream kitchen, boasting a beautiful cabinet selection, built-in appliances, and pot lights that add a touch of sophistication. The dining area completes this space, providing the ideal setting for family gatherings and entertaining guests. Venture upstairs to discover the primary bedroom, a true retreat featuring a lavish 5-piece ensuite. Two additional bedrooms and a well-appointed family washroom offer comfort and convenience for the entire family. The fully finished basement adds valuable living space to this home, featuring a welcoming living room, a spacious bedroom, a bathroom for added convenience, and a storage area to keep everything organized. Step outside into your private sanctuary—the fully fenced backyard, complete with an oversized deck, is the perfect haven for family time, barbecues, and relaxation. To top it all off, there's a newly built DOUBLE DETACHED GARAGE to fulfil your parking needs. Create cherished memories in this spacious outdoor retreat. Living in the Mahogany community grants you exclusive access to the breathtaking Mahogany Lake. This 63-acre masterpiece stands as Calgary's largest lake, boasting an impressive 21 acres of beach area—more than any other community in the city. Mahogany Lake is the ultimate destination for those seeking the fun and relaxation that a lake lifestyle has to offer. Two private beach sites overlooking the lake provide ample space for a variety of activities, from beach volleyball and sandcastle building to simply soaking up the sun. Embrace the opportunity to make this exceptional Mahogany home yours and enjoy the unparalleled beauty and recreation that comes with living in this spectacular lake community. Welcome home to Mahogany, where every day is a vacation. Please call your favorite Realtor to book a Showing !

Read

I have sold a property at 8 Redstone CIRCLE NE in Calgary

I have sold a property at 8 Redstone CIRCLE NE in Calgary on Aug 19, 2024. See details here

Welcome to this one-of-a-kind townhouse located in the flourishing family community of Redstone. This stunning 3-bedroom, 3-bathroom home offers a perfect blend of contemporary design and functional living spaces, ideal for families or savvy investors. Boasting 9-foot ceilings and upgraded pot lights, this home is bright and inviting. Custom-built shelving and an elegant electric fireplace add a touch of sophistication to the living area. As you enter the lower level your greeted with a warm feeling of home , with a private bedroom & full bathroom, the lower level is perfect for an Airbnb rental or guest suite, providing excellent income potential. The main floor features a spacious open concept providing luxury and functionality. The kitchen, dining, and living areas flow seamlessly, enhanced by two balconies that flood the space with natural light. Perfect for entertaining or relaxing with family. Upstairs, two generous bedrooms each come with their own ensuite bathrooms, ensuring privacy and convenience. Upper-level also features laundry facilities and a dedicated recording studio cater to modern needs, offering practicality and unique lifestyle options. Enjoy the ease and security of an attached garage, providing ample storage and parking. Surrounded by parks, walking paths shopping and a future school this home is perfect for anyone in any stage of life. Venetian blinds and custom-made curtains are all throughout the house. Elevated storage in the garage and other storage underneath the stairs are next to the furnace room, shoe cabinet, and storage area underneath the stairs. Living room wall unit with an electric fireplace plus lit upper shelving. Book your showing today!

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New property listed in Capitol Hill, Calgary

I have listed a new property at 1328 16 AVENUE NW in Calgary. See details here

FOR SUBLEASE: 940 sqft of retail space. Great Location! What an excellent opportunity for this retail space for SUBLEASE in CAPITOL HILL!!! Located on one of the busiest intersections, right across from SAIT, this corner unit is just steps away from the major intersetcion of 16 Ave and 14 St offers prominent signage exposure, unparalleled visibility and abundant foot traffic, with large windows that flood the space with natural light, creating a vibrant and inviting work environment and is ideal for maximizing your business's reach. It can accommodate businesses of all sizes. Whether you're a small startup or a large corporation, we have the perfect space for you. Many retail business possibilities and would be working for a professional (NO liquor store, VAPE store, INDIAN restaurant and DOMINO's). Great mix of residential and commercial uses (Cafes, Shops, and Restaurants) all nearby and is surrounded by high density residential population and households. 940 sqft space to be built out to your wide variety uses including sale of retail goods, per care service, insurance office, travel agency, cafe, hair salon, artist's studio, fitness and so much more. Currently, there is a VAPE shop on a 5 years lease (4 years left) with an option to renew it for another 5 years term and is up for subleasing as the total space of 1,880 sqft is way too much for the current tenant and would like to sublease. Inside 1,880 sqft, there is a developed but unutilized space of roughly around 950 sqft including bathrooms, kitchen and 2 office rooms which needs to be converted as per your business needs and requirements. SUBLEASE DETAILS: The shop operates within a favorable lease agreement offering stability and predictability in operational costs. (Lease rate is $22.00 PSF and Operating Costs is 22 PSF=Total of $44 PSF). Can’t find the right space out there? Call to inquire about finding the right space to lease.

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