The Calgary Real Estate Board (CREB) said they believe a proposed citywide rezoning would make the city’s housing crisis worse, citing infrastructure strain, neighbourhood congestion and it not creating the type of housing that will ease the supply crunch.
In advance of an April 2024 public hearing on Calgary’s citywide rezoning, which was part of a comprehensive suite of tools the City believes will address local housing issues, CREB’s media release stated that a more nuanced approach is needed.
“Blanket rezoning is not the right solution to address Calgary’s housing challenges. It poses a significant risk to communities, driving up the level of congestion in neighbourhoods and putting added strain on infrastructure and service quality,” said Hong Wang, Chair of CREB’s Government Relations Standing Committee, in a prepared media statement.
“We oppose this approach and advocate for a more community-focused strategy to respond to Calgary’s housing shortage, shifting the focus
Condominiums are expected to see the largest price jump as more people get priced out of single-family detached housing, said a Calgary real estate agent
Housing prices in Calgary are projected to climb the fastest among all major Canadian cities in 2024, with a hotter market projected if interest rates drop by mid-year, a new report says.
Overall, the aggregate price of a home in Calgary is forecast to jump eight per cent year-over-year by the end of 2024, according to Royal LePage’s 2024 market report.
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The projections come as the latest Calgary Real Estate Board (CREB) data show the city’s benchmark price has risen
211 13 Ave. S.E., No. 1706, Calgary
Asking price: $425,000 (April, 2023)
Selling price: $416,000 (April, 2023)
Previous selling price: $343,000 (November, 2021)
Taxes: $2,448 (2022)
Days on the market: 17
Listing agent: Kamil Lalji, CIR Realty
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The 914-square-foot unit has six appliances, plenty of counter space and a wide balcony off the kitchen.Rimy Reehal/Handout
In a 13-year-old high-rise in Calgary’s downtown core, units sold in an average of 30 days this spring, yet this two-bedroom corner suite received an offer of $416,000 in about half that time.
“There were about three of them [listed] at the time: two were around $475,000 and one was $450,000,” said agent Kamil Lalji.
“This sold in about two weeks, but there are a lot of units in that building that never end up selling because they are overpriced, since sellers
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