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The housing market is picking up in 2024 with mortgage rates going down. Buyers are coming back to the market, and bidding wars are reappearing.

Calgary offers attractive rental rates, potentially due to Alberta's lower tax structure.Bachelor apartments average $1,578 monthly.

The Calgary Real Estate Board reports a 9.9% increase in March home sales compared to last year due to interprovincial migration to Alberta. The benchmark price for all home types rose by 10.9% year-over-year. More affordable housing types saw significant price gains. Inventory levels decreased, with properties selling in an average of 20 days. Continue…

Calgary was ranked as the best place to live in Canada. The cost of living for 1 person in Calgary is ~$1,621.

Calgary's luxury Real Estate market is doing well, even better than bigger cities. The reason for this is Calgary's diversified economy, which has helped the city weather economic downturns.

Rent in Alberta is rising faster than anywhere else in Canada despite the national avg going down. Calgary rent was $1,707/mo in March for a 1-bedroom apartment, ↓ 0.3% MoM but ↑ 8.5% yearly.

Increase for high earners: After June 25, 2024, capital gains tax increases for profits exceeding $250,000.The $250,000 threshold applies to individuals, including gains through partnerships or trusts.

In Calgary, a solo buyer would need to save for 3.5-mo to afford the minimum down payment of $16,525. Condos are the most affordable property type, ideal for single-income buyers.

Downtown Calgary is rebounding according to CBRE Canada Market Outlook 2024. The downtown vacancy rate is projected to decrease to 27.9% in 2024, ↓ from a historic high of 32.4% in 2022.