'Downward pressure' bringing added choice, affordability to Calgary market 

Amid ongoing uncertainty in the province's energy sector, sales in Calgary's resale residential housing market declined by 27 per cent in August over the previous year to 1,643 units, according to CREB®'s monthly housing summary.

While the decline in sales was evident across all price ranges, homes $600,000 and up saw the most significant decline in absorption rates (sales versus new listings) compared to last year. Year-to-date new listings in this range were similar to levels recorded last year, yet sales activity represented only 18 per cent of all the sales last month, down from nearly 20 per cent last year.

During the first eight months of the year, sales in Calgary's $1-million-and-up category have declined by 35.64 per cent compared to last year, while sales of $3 million and up have dropped by 57.89 per cent.

Housing market offering opportunities for would-be buyers

For Donna Williams, finding the right home was a relatively straight-forward and stress-free endeavour.

She had been renting a turn-of-the-century two-storey refurbished home built in the inner-city neighbourhood of Sunalta. Recently divorced, she wanted a place to land where she would be surrounded by friends and community, and where her university aged children could park themselves when they came to visit on school holidays.

"I knew that financially it didn't make sense to be paying rent when interest rates were so low," said Williams, who recently returned to school to study English at the University of Calgary.

But she was comfortable in the home and didn't feel any huge sense of urgency to buy — until, that is, her landlords, personal friends, bequeathed the home to their adult child and her partner.

Smaller condos gaining popularity in Calgary

Don't call it a trend. Yet.

Whether you label them micro, shoebox or nano condos, housing units under 500 square feet in size have tested here and proven popular with younger, inner-city buyers — and with savvy investors renting to that same demographic.

But while other cities such as Toronto and Vancouver have already offered condos as compact as 200 square feet, Calgary's smaller living units tend to sit at more than twice that size – and they are included in developments with larger unit offerings.

August sales activity falls below long-term averages

Calgary's residential resale housing market recorded further easing in absorption rates in August due to weaker sales activity.

Sales in the city declined by 27 per cent to 1,643 units last month relative to the same time last year and 12 per cent below 10-year averages.

"Persistent weakness in the energy sector weighed on sales activity this month, which once again retracted to levels well below the norm for the city," said CREB® chief economist Ann-Marie Lurie.

Canadian Tire's decision to open a new location in the Beltline marks the latest in a series of announcements where major retailers are refocusing on the Calgary market. And while past once confined to the suburbs, this new round of retailer interest is bringing their offerings to new and once unconventional neighbourhoods.

CREB®Now takes a look at five of the latest announcements.

Canadian Tire:
Formerly accessible only to those willing to hop in the car, Canadian Tire will be bringing its wide range of automotive, sports and leisure and home products to the newly redeveloped 90,000-square-foot, three-storey Mount Royal Village building at 8th Street and 16th Avenue S.W. Scheduled to open in "about" two years, the Canadian Tire Express store will be similar to one in midtown Toronto, which offers about a quarter of the goods available in the retailer's largest stores.

Calgary homeowners capitalizing on market by going bigger

When Stephanie and Robert Morgan decided to make a step up from their Evanston home, their biggest concern was space for them and their growing family.

After looking at several "lateral" options that would have seen them gain little in the way of square footage, the Morgans decided to make the jump to something significantly bigger

"We really wanted a place that would feel like a home for each member of our family – somewhere where we could each have our own space but also enjoy the common areas without tripping over each other," said Elizabeth, who, along with husband Robert, shares the home with their four-year old daughter.

Americans and Albertans alike looking to the mountains for recreation homes

The old truism of "location, location, location" applies as equally to recreation property as it does to a good piece of primary real estate. And it may become even more important in a tight economy.

Alberta's recreational property market — much of it located in the mountain areas and lakes within an hour and a half of Calgary — continues, at least for now, to be fairly strong.

With the decreasing Canadian dollar, American buyers coming from a healthier economy are once again looking at Alberta property while local buyers may be seeking cottage life closer to home.

What do gardeners want? Houzz.com tells us in new survey 

Even if you are reading this column you don't actually want to garden. What you really, really want most in your garden is easy maintenance and outdoor living. I realized this after reading the new Houzz.com garden survey online (http://bit.ly/1NUnvls). Yes, it's true. Most gardeners' responding to the survey just wanted to sit in the garden and do as little as possible.

And if you bought a new home recently you are more likely than others to develop an outdoor sitting space immediately and get right to the business of lounging.

Houzz followers buying new homes plan to spend extra money buying outdoor furniture and developing colourful, low maintenance beds to surround their new sitting space. And after this space is designed and built, the top use for the renovated outdoor area is simply this: relaxing.

Cycling Calgary's surrounding communities

On the rim of on-street bike lane initiatives in Calgary, more cyclists are looking to transport safe pedal-power to smaller cities around southern Alberta.

Met with controversy by some motorists, Calgary has approved 260 kilometres of on-street, 3.1-metre wide bike lanes to go along with a 550-kilometre pathway system.

While bike lanes may be the trail to two-wheel success in Calgary, many smaller centres are relying on an array of paved and non-paved pathways to accommodate a growing number of free-wheeling travellers.

But while multi-use pathway systems may be an attractive option for recreational riders and casual commuters, hard-core on-street distance riders like Nick Lynem have experienced some road sharing concerns with automobiles.

Design updated following 2013 floods

The newest addition to Cochrane's parks and pathways system is set to open later this month.

Following a redesign after the 2013 floods, Riverfront Park will open on Aug. 29 with a ceremony featuring the Cochrane Pipe Band, a Native Elder blessing, First Nations dancers, and remarks from Wild Rose MP Blake Richards, Banff-Cochrane MLA Cam Westhead and Cochrane Mayor Ivan Brooker.

Riverfront Park is one of a new generation of urban parks that showcase natural areas within an urban environment. The park has been in planning since the Open Spaces Master Plan was approved by Council in 2012. Changes were made to the design after the 2013 floods, but senior manager of community services Suzanne Gaida thinks the final design is even better.