Market Trends: What to Expect in the Calgary Real Estate Market in 2024

Jun 13

Hi there! Chris Artindale here, your go-to real estate expert in Calgary. As we move through 2024, you might be wondering what the Calgary real estate market has in store. Whether you’re considering buying, selling, or investing, staying informed about market trends can help you make smarter decisions. Let's dive into what you can expect this year.

Continued Growth in Property Values

Are you curious about how property values are trending? Well, 2024 is shaping up to be another year of growth for Calgary real estate. The city's strong economic fundamentals, including job growth and population increases, are driving demand for housing. If you’re a homeowner, this is great news. Your property value is likely to appreciate, which could mean a significant return on your investment when you decide to sell.

Shifts in Buyer Preferences

Have you noticed how home preferences are changing? More buyers are looking for homes that offer flexible living spaces and energy-efficient features. With remote work becoming more prevalent, home offices are in high demand. If you’re planning to sell, consider how your home meets these evolving needs. Highlighting features like a dedicated workspace or recent energy-efficient upgrades can make your property more attractive to potential buyers.

Interest Rates and Financing

Wondering how interest rates might affect your buying power? The good news is that interest rates are expected to remain relatively stable throughout 2024. This stability provides an excellent opportunity for both buyers and sellers. For buyers, lower rates mean more affordable monthly payments, making it easier to qualify for a mortgage. Sellers can benefit from a larger pool of qualified buyers, potentially leading to quicker sales and higher offers.

New Developments and Urbanization

Have you seen the new developments cropping up around Calgary? The city is continuing to evolve with several new residential and commercial projects. Areas like SE Calgary are seeing significant growth, with new amenities and improved infrastructure. This urbanization is attracting young professionals and families alike, boosting demand for homes in these neighborhoods. Keeping an eye on these developments can help you identify prime investment opportunities.

The Rental Market

Are you considering investing in rental properties? Calgary’s rental market remains robust, driven by a steady influx of new residents. With rental rates expected to rise, investing in rental properties could be a smart move. Whether you’re looking to buy a single-family home or a multi-unit building, the demand for rental housing is strong, promising good returns.

Final Thoughts

Staying on top of market trends is crucial in making informed real estate decisions. Whether you’re buying, selling, or investing, understanding the landscape can help you navigate the market with confidence.

If you have any questions or need personalized advice, I'm here to help. Let's connect and discuss how you can make the most of the opportunities in the Calgary real estate market in 2024. Feel free to reach out to me anytime. Together, we can set you up for success in your real estate journey!

Ready to take the next step in your real estate journey? Contact me today to schedule a consultation and learn how we can make your real estate goals a reality!