Excitingly, this outstanding opportunity sold in just 6 hours for $82,000 over the asking price, demonstrating the high demand for this charming Bowness property.  With deep ties to the community, our sellers saw tremendous interest from buyers and builders alike. We knew this home would be in high demand, but the response exceeded all expectations. As we reviewed offers, we were touched by the genuine connections to the home and neighborhood. It's a testament to the power of real estate to bring people together. Welcome to this charming raised bungalow in the heart of Bowness, a peaceful community in Calgary. With a listing price of $549,000, this home offers great value and presents endless possibilities for both families and savvy investors. Upon entering, you'll be captivated by the updated kitchen adorned with a river rock backsplash, creating a unique and stylish touch. The open concept layout provides an inviting and spacious feel, perfect for entertaining or spending quality time with loved ones. The main floor is beautifully finished with updated vinyl plank flooring, offering both warmth and comfort throughout. Flexibility is key in this home, as the primary bedroom has been cleverly crafted from two bedrooms, providing the option to easily convert it back to three bedrooms upstairs. This adaptability allows for families to grow or for savvy investors to capitalize on potential rental income. The updated primary bedroom features ship-lathe ceilings, a barn board feature wall, and a separate sitting area, exuding charm and character. With a total of four bedrooms and two bathrooms, there is ample space for everyone. Nestled on a generous 50x123ft RC-2 lot with a west-facing backyard, the property offers a 26x24 heated double garage and a sprawling concrete parking area, ensuring plenty of room for all your vehicles. Step outside and be greeted by beautiful outdoor spaces, including a large front deck and a rear stone patio area covered by a retractable awning. These outdoor retreats provide the perfect backdrop for unwinding after a long day or hosting gatherings with friends and family. The basement features large windows, offering the potential for a secondary suite or additional living space. A free-standing gas fireplace in the rec room adds a cozy ambiance, ideal for relaxation or entertaining. Conveniently close to amenities and transportation routes, this home offers a serene retreat in the peaceful community of Bowness. Whether you're seeking an excellent family home or a lucrative revenue property, this home checks all the boxes. Invest in your future by making this exceptional home your own. Don't miss out on this chance to embrace the charm, comfort, and potential that 4607 81 ST NW, Calgary, AB T3B 2P5 has to offer.

Are you an investor looking to make a smart move in the real estate market? Look no further. Located at 320 52 AVE W, Claresholm, AB T0L 0T0, this fully tenanted fourplex is a golden opportunity you don't want to miss. With a listing price of $798,000, this property offers a solid monthly rental income and numerous benefits for savvy investors.One of the first things you'll notice about this property is its well-maintained exterior, a testament to the pride of ownership. The charming curb appeal and beautifully landscaped surroundings, adorned with mature trees, make it an attractive investment. Additionally, the property offers ample parking with six-plus dedicated spots and street parking, ensuring convenience for both tenants and guests.Each of the four units in this fourplex features two bedrooms and has received some upgrades, ensuring they are in good shape. But what sets this property apart are the thoughtful details. With individual power and gas meters for each unit, managing the property becomes a breeze. This feature not only adds convenience but also allows for better control over expenses.In today's real estate market, finding a property with in-suite laundry facilities in every unit is a rarity. However, this fourplex breaks the mold. Tenants will greatly appreciate the added convenience of having their own laundry equipment within their living space. Furthermore, all laundry equipment present in the units is owned by the tenants themselves, reducing maintenance responsibilities for the landlord.Priced just right, this property is truly a rare find in today's market. Investors who recognize a good opportunity when they see it should not hesitate. With a listing price of $798,000, this fourplex offers tremendous potential for a solid return on investment.Investing in real estate is all about seizing the right opportunities at the right time. The fully tenanted fourplex at 320 52 AVE W, Claresholm, AB T0L 0T0 is one such opportunity. Don't miss out on this chance to secure a property that promises both immediate rental income and long-term appreciation. Invest in Claresholm today and reap the rewards of a smart real estate investment.

Welcome to an exceptional ownership opportunity in the heart of Calgary's vibrant inner-city district. Situated at the bustling corner of 17th Avenue SW and 14 Street SW, this prime corner property, the original Bank of Nova Scotia building, boasts an impressive and versatile building, offering a range of possibilities for its next owner.The building's architectural design allows for various uses, including retail and office space. Expansive storefront windows flood the interior with natural light, creating an inviting atmosphere and providing an excellent opportunity for businesses to showcase their offerings. This feature is particularly appealing in a time when businesses are seeking spaces that can seamlessly blend physical retail experiences with online presence.Additionally, the property offers the opportunity for extra on-site parking, a valuable commodity in this urban location, enhancing convenience for customers or clients. The availability of parking is a significant advantage in attracting foot traffic, as visitors can easily access the building without the hassle of searching for parking elsewhere.Positioned within the thriving 17th Avenue SW corridor, which has experienced significant revitalization, this property is poised to capitalize on ongoing development, ensuring business growth and real estate appreciation. The area has witnessed a surge in trendy restaurants, boutique shops, and entertainment venues, attracting a diverse and vibrant crowd. The property's location will undoubtedly benefit from the bustling activity of this revitalized neighborhood, offering occupants a chance to be part of the area's continued growth.Notably, the building's proximity to public transportation, parks, and an abundance of dining and shopping options makes it highly convenient for employees or customers. With a location that offers easy access to various amenities, businesses can attract and retain talent while providing a delightful experience for their customers.This building perfectly preserves the heritage charm of the neighborhood while offering modern amenities, making it a unique and attractive choice for potential occupants. The ability to blend the historical significance of the Bank of Nova Scotia building with contemporary design elements ensures that this property stands out among its competitors.With a total area of 10,056 square feet across three levels, including 4,293 square feet each on the lower and main levels, and 1,497 square feet on the upper level, this property presents a rare opportunity for discerning investors. The ample space allows for creative customization and flexible utilization, accommodating a wide range of business needs.In conclusion, 1429 17 AVE SW, Calgary, represents a unique ownership opportunity in the heart of Calgary's inner-city district. Its prime location, architectural design, and proximity to amenities make it an attractive prospect for businesses seeking a dynamic and thriving environment. With endless possibilities for customization and a chance to be part of the ongoing development in the area, this property is sure to appeal to discerning investors looking to make their mark in Calgary's real estate industry.

Are you looking for a versatile and accessible commercial space in the heart of Calgary? Look no further than 1918 9 AVE SE, a 6,000 sqft mixed commercial building nestled in the amenity-rich neighborhood of Inglewood. With a listing price of $1,995,000, this property offers endless possibilities for your business ventures.One of the most significant advantages of this property is its strategic location. Zoned District Control (DC 4Z93), it provides proximity to major routes such as Blackfoot Trail, Deerfoot Trail, Memorial Trail, and the Downtown Core. With easy access to these transportation arteries, connecting with key areas in the city has never been easier. This convenience ensures that your business will thrive in a location that attracts both clients and employees.As you step into this commercial space, you will be greeted by a beautiful showroom and a welcoming reception area, creating an inviting atmosphere for clients and visitors. The spacious boardroom adds a touch of professionalism to your business dealings. Moreover, the main floor features a convenient overhead door and bay, enhancing the adaptability of the space to suit your specific needs.Parking is always a key consideration, and this property offers ample parking with 10 surface parking stalls. This ensures that both your clients and staff have easy access to the premises, making their experience hassle-free.The main floor of the building comprises five offices, a large bay area with a 9x12 bay door, two storage areas, and a washroom. On the top floor, you will find four additional offices, a boardroom, a showroom, a reception area, an open work area, and extra storage space. This well-designed layout caters to various business needs, providing you with the flexibility to create the perfect workspace.Surrounded by conveniences and a highly desirable community, Inglewood offers the perfect setting for your business. Establishing your presence here will not only provide access to a wide range of amenities but also place you in a location sought after by clients and customers alike.Now is the time to seize this opportunity and make 1918 9 AVE SE your business's new home. Don't miss the chance to establish yourself in a prime location that combines versatility, accessibility, and a well-designed space. Discover the potential of this commercial building in Inglewood and take your business to new heights.

When selling your home, it's essential to consider which home renovations will provide the best return on investment (ROI). Some upgrades can significantly increase your home's value, while others may not have the same impact. In this blog post, we will discuss the best ROI home renovations for sellers. 1. Kitchen Remodel: A kitchen remodel is often considered one of the best home renovations for sellers. Upgrading your kitchen can significantly improve the overall appeal and value of your home. Focus on replacing outdated appliances, installing new countertops, and updating cabinetry for a modern and functional kitchen. Buyers often prioritize a well-designed kitchen, making it a wise investment that can provide a high ROI. 2. Bathroom Renovation: Similar to the kitchen, a bathroom renovation is another renovation project that can yield a high ROI. Consider replacing old fixtures, upgrading the shower or bathtub, and improving the overall aesthetic appeal. A clean and modern bathroom can attract potential buyers and add value to your home. 3. Energy-Efficient Upgrades: Energy-efficient upgrades are becoming increasingly popular among homebuyers, making them an excellent investment for sellers. Install energy-efficient windows, upgrade the insulation, and switch to energy-efficient appliances. These upgrades can help potential buyers save on utility bills and make your home more appealing in an environmentally conscious market. 4. Curb Appeal: Enhancing your home's curb appeal can make a significant difference when selling. First impressions matter, and a well-maintained exterior can attract potential buyers. Consider landscaping, power washing the exterior, repainting the front door, and adding attractive lighting fixtures. These relatively inexpensive upgrades can provide a great ROI and make your home more inviting. 5. Basement Renovation: If you have an unfinished or underutilized basement, investing in a basement renovation can be a game-changer. By adding livable space such as a family room, home office, or guest suite, you can significantly increase your home's value. A finished basement adds square footage and provides additional living areas, making it an attractive feature for potential buyers. While these home renovations can provide a high ROI, it's important to consider the local real estate market and the preferences of potential buyers. What might be a wise investment in one area may not hold the same value in another. Additionally, it's crucial to avoid over-improving your home. Spending excessive amounts on renovations that are not commensurate with the value of the neighborhood can lead to a lower ROI. Consult with a real estate professional who can provide guidance on the best renovations for your specific market. In conclusion, if you're looking to increase the value of your home before selling, focus on kitchen and bathroom renovations, energy-efficient upgrades, curb appeal enhancements, and basement renovations. These home improvements are generally considered the best investments for sellers. Remember to consider the specific needs and preferences of your local market, and seek professional advice to maximize your ROI.

  Welcome to Carisbrooke Place, a prestigious townhome development located in the heart of Sunnyside, Calgary. Developed by Angus Mason as part of the esteemed Anglo Saxon Castle series, this exquisite property offers a unique blend of luxury and heritage. Inspired by the iconic Carisbrooke Castle on the Isle of Wight, Carisbrooke Place presents a rare opportunity to own a piece of history while creating a cherished home for your family. Unit 3 at Carisbrooke Place is a captivating residence that spans four levels and boasts a generous living area of 2,294 square feet. With 3 bedrooms and 2.5 bathrooms, this townhome provides ample space for comfortable living. As you step inside, you'll be greeted by an open-concept design that seamlessly connects the living, dining, and kitchen areas. The gourmet kitchen is a culinary masterpiece, featuring high-end appliances, sleek finishes, and plenty of storage space. The adjacent dining area offers a perfect setting for both entertaining guests and enjoying intimate family meals. Venture to the upper levels to discover your private quarters. The primary suite occupies the entire top floor, providing a serene retreat with an elegant ensuite bathroom, a walk-in closet, and a private balcony that offers breathtaking views of the downtown skyline. The second floor consists of two bedrooms, a bathroom with a dual vanity, and a bonus room, each exuding a tranquil ambiance. The lower level of Unit 3 offers endless possibilities for customization. Whether you envision a home office, a cozy media room, or a fitness area, this versatile space can be tailored to suit your preferences. The convenience of an included garage space and storage unit ensures secure parking for your vehicle and additional storage options. Carisbrooke Place comprises four meticulously designed units, each offering spacious layouts, abundant natural light, and a seamless flow between indoor and outdoor living spaces. Every unit features a patio as well as two balconies, allowing residents to enjoy the outdoors from the comfort of their own home. Experience unparalleled comfort and energy efficiency with the state-of-the-art heat pump heating and cooling system. This cutting-edge technology not only provides optimal climate control throughout the seasons but also ensures cost-effective and eco-friendly operation. Nestled within the vibrant community of Sunnyside, Carisbrooke Place offers residents convenient access to parks, shops, cafes, transit options, and the bustling energy of downtown Calgary. Immerse yourself in the rich history and dynamic culture of the area while enjoying a modern and luxurious lifestyle. Don't miss the opportunity to make Carisbrooke Place your own and be part of a legacy. For more detailed information, please view the brochure. Keep in mind that all renderings, floor plans, sizes, incentives, and pricing are subject to terms and conditions and may change at any time without prior notice. Contact our sales representatives for further details. Embrace timeless luxury at Carisbrooke Place in Sunnyside, Calgary, and create a home that reflects your style and aspirations.

  Luxury is an experience, not a price point. We strive to uphold exceptional standards in every aspect of our services and take great pride in our national team of professional and specialized agents. Whether you’re planning on buying or selling a home, our commitment at Sotheby’s International Realty Canada remains the same: we deliver exemplary marketing and service to every client, regardless of a home’s neighbourhood or price range. If you’re considering buying or selling a home, here are 10 advantages of working with us. 1. Building WealthOur specialized expertise & global marketing platform maximize the value of your home and investment. 2. Iconic Brand ValueElevate your home with marketing that reflects Sotheby’s timeless prestige and quality. 3. Unrivalled Global MarketingWe receive more than 1 billion online impressions annually & have access to pre-eminent publications, including sothebysrealty.com, sothebysrealty.ca, The Wall Street Journal, Financial Times, Sotheby’s and Sotheby’s Preferred magazines. 4. Connections WorldwideConnect to a qualified sales and marketing network spanning across more than 1,000 offices in 75+ countries. 5. Local ExpertiseWith top agents in 30 offices nationwide, we are Canada’s premier real estate company, trusted to represent the country’s premier homes. 6. Industry-Leading TechnologyShowcase your home to next-generation homebuyers via Apple TV, Google, YouTube, Facebook, augmented reality and more. 7. Proven Record of ExcellenceWe’re ranked the #1 most trusted brand in residential real estate* and our reputation reflects the exemplary expertise and service. 8. Reporting & AccountabilityYou’ll gain clear insight into the marketing and sales activities for your home with our proprietary online reporting platform, FolioTM. 9. Luxury at Every PriceYou’ll receive the highest calibre of service and marketing, regardless of your home’s neighbourhood or price. More than 75% of the homes we represent are under $1 million. 10. Community CommitmentWe are proud to support Jack.org, Canada’s only charity that trains and empowers young people to revolutionize mental health in every province and territory, and Human Anti-Trafficking Response Team (HART), a not-for-profit organization focused on raising awareness of sex trafficking in Canada and providing care to survivors. Move beyond your expectations with Sotheby’s International Realty Canada.  

  As employees and employers negotiate new possibilities for remote and hybrid work as the COVID-19 pandemic evolves, a newly released generational trends report by Mustel Group and Sotheby’s International Realty Canada highlights new insights revealing that future housing demand will be underpinned by an expectation for a return to the workplace and office, as well as a balanced preference for urban and suburban living amongst Generation Z home buyers.   Newly released Mustel Group/Sotheby’s International Realty Canada survey results reveal that nearly half (47%) of urban Generation Z adults in Canada’s largest metropolitan areas rank buying a home “close to work” as being a top priority for the location of their first home purchase, although just 15% indicate that purchasing in or close to a downtown core is a priority.    Proximity to work is surpassed only by neighbourhood safety as a key location characteristic, with safety being cited by 56% of survey respondents overall. Other priorities for a first home locale include proximity to a grocery store (39%), transit friendliness (36%), living close to family (35%) and walkability (34%). According to survey results, the lowest neighbourhood priorities for a home purchase are cycling friendliness, cited by 8% as a key factor, and living near nightlife such as clubs and bars, reported by 5%. Survey findings also reveal an almost even distribution between urban Generation Z adults who plan to purchase their first home in a major city, reported by 40%, and those who plan to buy in a suburb outside a major city reported 42%.  Approximately one in 10 expect to buy their first home in a small town (7%) or rural area (3%). 8% remain undecided as to the community type of their first home. Furthermore, survey results reveal a preference for urban Generation Z first-time buyers to remain in or close to their current cities of residence. 41% plan to purchase their first home in their current city of residence while 32% plan to buy within a one-hour drive of their current city. A further 11% plan to buy further afield but within Canada; this includes 6% who plan to buy their home more than a one-hour drive from where they currently reside and 5% who expect to purchase in a different Canadian province. A nominal 1% plan to buy outside of Canada, while 13% are still unsure where they will buy their first home. “Location, Location, Location: Generation Z Trends Report” is the third report in a multi-part series based on Canada’s first in-depth study of the housing intentions, aspirations and preferences of Generation Z. The report is based on a survey of 1,502  Generation Z Canadians who are over the age of majority and between the ages of 18 and 28 in the Vancouver, Calgary, Toronto and Montreal Census Metropolitan Areas, and focuses on this cohort’s priorities and criteria for the neighbourhood and location of a first home. Previously released research by Mustel Group/Sotheby’s International Realty Canada reported that 75% of urban Canadian Generation Z adults say that they are likely to buy and own a primary residence in their lifetime. Approximately half of urban Generation Z adults are most likely to purchase a higher-density housing type as their first home, with 25% reporting that their first home purchase will likely be a condominium, 18% saying that their first home will be an attached home/townhouse and 7% stating that their first home purchase will be a duplex/triplex. 39% reported that they are most likely to buy a single-family home as their first residence. According to earlier reports, 37% of urban Generation Z adults in Canada expect to purchase their first home in less than five years, while 43% anticipate buying between five and ten years from now. 30% expect the purchase price of their first home to be $350,000–$499,999, while 26% expect to pay $500,000–$749,999. “Previously released results from Mustel Group and Sotheby’s International Realty Canada survey of urban Generation Z  adults have already revealed that young Canadians have a high level of confidence in real estate and intend on purchasing a home,” says Josh O’Neill, General Manager of Mustel Group. “This new report uncovers insights into where they plan to buy their first home, and the factors that are driving this important life decision.” According to Sotheby’s International Realty Canada experts, surprising divergences have emerged in the neighbourhood and location preferences of different generations of home buyers as pandemic restrictions ease, and as engagement in social and community activity renews across the country.  Evolving workplace and work from home preferences are driving new and evolving trends not only in the workplace, but in housing demand, particularly amongst Canada’s youngest generation of first-time home buyers. “During the pandemic, the desire, need and ability to work remotely influenced and enabled some Canadians to relocate to outlying suburban or recreational regions to achieve more space and a more desirable lifestyle. This helped drive record real estate sales activity across the country. While the question of work-from-home flexibility remains a defining workplace issue for the foreseeable future, attitudes about remote work amongst employees and employers are shifting as pandemic restrictions relax, and there are differences in perspectives between generations that will affect housing demand,” says Don Kottick, President and CEO of Sotheby’s International Realty Canada. “Younger Canadians are more likely to prefer a hybrid of working in the office and working from home, compared to older Canadians who are more likely to prefer remote work. Our research signals that for Generation Z, buying their first home in a neighbourhood close to their workplace will remain a top priority, regardless of whether they plan on purchasing in a major city or suburb.  This has significant implications for how cities and suburbs should approach planning in order to enhance the quality of life and housing for future generations.”  Kottick cites research from the Angus Reid Institute that reveals generational differences in Canadians’ workplace preferences, with three-in-ten (29%) of 18 to 34-year-old adults reporting a preference to work from home entirely, compared to two in five (42%) of those over age 54 saying the same. Statistics Canada also reports that as of April 2022, 19% of Canadian workers usually worked exclusively from home, down from 24% in January 2022; however, the share of employees working at home whether exclusively or through a hybrid arrangement varies significantly across Canada’s metropolitan areas. “As the cost of housing and the cost of living becomes increasingly challenging for young people in major cities, government, the real estate industry and the private sector will be challenged to consider Generation Z’s demands for real estate close to their workplaces, and in communities, they can afford,” says Kottick.  “This may require planning for a future where jobs and office spaces are distributed  beyond downtown cores and hyper-concentrated business centres in central municipalities, with smaller peripheral municipalities and suburban areas playing a more significant role in hosting both commercial and residential real estate opportunities.”   Market Highlights Vancouver In a metropolitan area that saw its employment rate climb to 64.4% in April 2022 as its unemployment rate held steady at 5.4%,  newly released Mustel Group/Sotheby’s International Realty Canada survey results reveal that a significant percentage of Vancouver’s Generation Z adults are integrating plans for working outside of their homes into considerations for their first home purchase. As in the case of other metropolitan areas, Vancouver’s Generation Z adults rank buying a home “close to work” as being a top priority for the location of their first home purchase, with 43% citing this as a major neighbourhood consideration, however, only 11% indicated buying in or close to the downtown core as being a priority.    Neighbourhood safety is the only location characteristic to surpass proximity to work as a priority neighbourhood consideration and was reported by 54% of Vancouver survey respondents as such. Other leading location priorities include proximity to family (40%), transit-friendliness (39%), proximity to a grocery store (38%) and walkability (31%). The lowest neighbourhood priorities for a home purchase are cycling friendliness, reported by 7% as a key location consideration, and proximity to nightlife such as clubs and bars,  reported by 6%. While 36% of Generation Z adults in the Vancouver metropolitan area plan to buy their first home in a major city, 44% say that they will do so in a suburb outside of a major city. 9% plan to buy their first home in a small town, while 4% plan to purchase in a rural area. 6% are still undecided on the community type of their first home. Survey findings also show that a significant proportion of Vancouver’s Generation Z first-time home buyers plan to remain in or close to their current city of residence: 45% plan to purchase their property in their current city of residence while 28% plan to buy within a one-hour drive. 10% will buy their first home more than a one-hour drive from where they currently reside, while 3% plan to buy in another Canadian province. 0% plan to buy outside of Canada, however, 13% are still unsure of where they will buy their first home. Calgary Bolstered by the revitalization of the local economy which has propelled the employment rate to 66.7% as of April 2022 even as the unemployment rate declined to 7.2%, Generation Z adults in Calgary are amongst the most optimistic of Canada’s major metropolitan markets about their prospects for primary homeownership. Encouraged by housing prices and costs of living that remain affordable relative to other major Canadian cities,  78% report that they are likely to own a home during their lifetime, with 53% indicating that they are “very likely” to do so, according to previously released Mustel Group/Sotheby’s International Realty Canada reports.   According to newly released survey results, Calgary’s Generation Z adults rank buying a home “close to work” as being a leading priority for the location of their first home purchase, signalling their expectation of working outside of the home in some capacity.  47% report proximity to work as a major neighbourhood consideration, however, just 16% indicate that buying in or close to the downtown core is a priority. Other leading priorities for a home location include neighbourhood safety (62%), proximity to a grocery store (49%), as well as walkability (34%) and proximity to parks and nature (34%). The lowest neighbourhood priorities for this generation in Calgary when buying a first home are proximity to schools, reported by 8% as being a key factor, cycling friendliness (9%) and proximity to nightlife such as clubs and bars (9%). Calgary’s Generation Z adults are more likely than those in Toronto and Vancouver to buy their first home in a major city at a rate of 48%, compared to 37% of their counterparts in Toronto and 36% of those in Vancouver who plan to do so. 38% of those in Calgary say that their first home will be purchased in a suburb outside of a major city, 4% plan to buy their first home in a small town and 5% plan to buy their home in a rural area. 4% remain undecided.    Mustel Group/Sotheby’s International Realty Canada survey findings reveal that a significant percentage of Calgary’s Generation Z home buyers plan to do so in their current city of residence, at a rate of 48%, while   25% plan to buy within a one-hour drive. 4% plan to buy their first home more than a one-hour drive from where they currently reside, while an additional 6% specifically plan on doing so in another Canadian province. 1% plan to buy outside of Canada, while  12% are still unsure of where they will purchase their first home. Toronto According to newly released survey findings from Mustel Group/Sotheby’s International Realty Canada, Toronto’s Generation Z adults are not only primed for homeownership, the majority are also ensuring that their first home purchase integrates plans for a return to the workplace or office. While the employment rate of the nation’s largest metropolitan area economy rose to 63.5% in April 2022 and the unemployment rate fell to 6.3%,  newly released survey results reveal that Toronto’s Generation Z adults rank proximity to work as a top priority for the location of their first home purchase, indicating clear anticipation of their return to the workplace or office in some capacity.  46% report that buying a home close to work is a key consideration for the purchase of their first home, however, only  16% report that buying in or close to the downtown core is a key location priority.  As in the case of Vancouver and Montreal, neighbourhood safety is the only location characteristic to outstrip proximity to the workplace as priority consideration for the location of a first home purchase, reported by 56% as such. Other top priorities include proximity to a grocery store (39%), transit friendliness (35%) and walkability (35%).  For Toronto’s Generation Z, the lowest neighbourhood priorities for a home purchase are cycling friendliness (9%) and proximity to nightlife such as clubs and bars (3%). 37% of Toronto’s Generation Z adults plan to buy their first home in a major city compared to 42% who say that they will do so in a suburb outside of a major city.  8% plan to buy their first home in a small town, while 3% plan to purchase in a rural area. 10% remain undecided on the community type of their first home. Findings from the Mustel Group/Sotheby’s International Realty Canada survey reveal that a significant percentage of Generation Z home buyers in Toronto plan to do so in their current city of residence, at a rate of 40%, while 36% plan to buy within a one-hour drive. 7% plan to buy their first home more than a one-hour drive from where they currently reside, while an additional 3% specifically plan on doing so in another Canadian province. 1% plan to buy outside of Canada, while  13% are still unsure of where they will purchase their first home. Montreal In Montreal, 79% of Generation Z adults say they are confident that they will buy a primary residence in their lifetime with 37% expecting to buy their first home within five years and 46% expecting to do so in five to ten years, according to a previously released Mustel Group/Sotheby’s International Realty Canada report. Newly released survey results now indicate that they are poised to do so with a return to the workplace and office in mind. The results are released at a time when the employment rate in Montreal rose to 63.3% in April 2022, while the metropolitan area’s unemployment rate fell to 4.8%. Generation Z adults in Montreal report that proximity to work is a leading priority for the location of their first home purchase, signalling that working outside of the home in some capacity is anticipated by this cohort.  While 50% report that proximity to work is a major location factor in their home purchase, just 17% say that buying in or close to the downtown core is a priority. Other top location priorities for a home include a neighbourhood’s safety (57%), proximity to a grocery store (38%), being close to family (36%) and transit friendliness (35%). For this generation of home buyers, buying in a  cycling-friendly neighbourhood or one that is close to nightlife such as clubs and bars, ranks as the lowest location priority, with 8% and 6% indicating that these are priorities respectively. 43% of Montreal’s Generation Z adults report that they plan to buy their first home in a major city, while 41% say that their first home purchase will be in a suburb outside of a major city. 7% plan to buy their first home in a small town, while 2%  plan to buy their home in a rural area. 8% remain undecided on the community type for their first home purchase. According to Mustel Group and Sotheby’s International Realty Canada, 38% of Montreal’s Generation Z home buyers plan to do so in their current city of residence while 32% plan to buy within a one-hour drive. 5% plan to buy their first home more than a one-hour drive from where they currently reside with an additional 8% specifically planning to buy their first home in another Canadian province. 3% plan to buy outside of Canada, while 14% are still unsure of where they will purchase their first home. The report is based on findings from a survey employing an online methodology using a robust panel of 1,502 Generation Z adults between the ages of 18 and 28. in the Vancouver, Calgary, Toronto and Montreal Census Metropolitan Areas (CMAs).  The panel is maintained to be representative of the Canadian population and provide high-quality data. Panellists are recruited by a double opt-in method from large databases of reputable channels using industry standards of panel quality assurance, validation, verification and best practices for panel management.  The sample was weighted to match Statistics Canada census data based on age, household income and homeownership within each CMA and to bring the total sample into proper proportion based on relative populations. While margins of error only apply to random probability samples, the margin of error on a random probability sample of 1,502 respondents is ±2.5 percentage points, 19 times out of 20, and ranges from ± 4.5 to 5.4 points for 325 – 476 respondents). Data for this report series was gathered from October 25 to November 10, 2021. Please note that percentages cited may not add to 100% due to rounding.

CREB®'s Q2 2022 Housing Market Report City of Calgary, August 16, 2022 – Within the city of Calgary, housing sales totalled 18,694 units in the first half of 2022, with sales in the second quarter nearly matching the record high pace set in the first quarter of the year.“This doesn’t come as a surprise as consumers were eager to get into the market ahead of rate gains while they still had low pre-approval rates,” said CREB® Chief Economist Ann-Marie Lurie.At the same time, new listings struggled to keep pace leaving inventories relatively low and the months of supply relatively tight. This resulted in prices trending up in the second quarter relative to both the previous quarter and year.Since April, the Bank of Canada has taken an aggressive stance against inflation with their most significant move in July, which saw a one per cent increase. After four consecutive rate increases, the overnight lending rate has jumped to 2.5 per cent and pushed mortgage rates up to their highest levels in over a decade.The lending rate increases have started to impact home sales and are expected to weigh on sales over the second half of the year, offsetting some of the strong gains reported over the first half of the year.Supply adjustments in the market have been slow, especially for lower priced products. However, the pullback in demand is expected to help support more balanced conditions.“With market conditions easing and a higher cost of borrowing, prices are expected to trend down in the second half of the year, offsetting some of the stronger than expected gains in the first half of the year,” said Lurie. “Despite the pullbacks, we anticipate that the annual benchmark price will remain higher than levels reported last year.”For the full report, please download CREB®'s Q2 2022 Calgary & Region Quarterly Update Report here.