Shelley Soles ABR®, C.C.S - Certified Condominium Specialist, SRES - Senior Real Estate Specialist, REALTOR®

Agent

Phone: 403.253.1901   Mobile: 403.830.6646   Email

January 2025 marks my 19th year in the real estate industry, all of which have been with Royal LePage Benchmark. This is milestone I'm very proud of and grateful for. 

In my business, the people I ride alongside make all the difference - this includes colleagues, clients and business partners. I take these partnerships to heart. Thank you for sharing the ride with me and I look forward to helping more buyer, sellers and investors in the coming year.

Over 95% of my business comes from past clients and referrals. These satisfied clients have spread the word about the great service they’ve received from me and my brokerage, Royal LePage Benchmark. I work primarily in Calgary, Cochrane, Airdrie and Okotoks.

Every one of my clients is unique, and that is exactly how I treat them. I don’t measure my success by sales, but by the relationships I build along the way. My goal is to take the complex process of buying and selling real estate and make it a simple one.
 
So whether you are thinking about buying, selling or investing, give me a call - I would be happy to meet or talk with you to determine how I can help. Absolutely NO obligation!

I send out a newsletter at the beginning of every month - providing a summary of the previous month's activity in many segments of the market - along with some fun, interesting activities in Calgary and area that you and your family may enjoy!  If you'd like to receive a copy, please sign up using the link provided on this page.  

To find out more details on the current Calgary, Airdrie, Cochrane and Okotoks markets, please check out the CREB Monthly Stats tab as it is updated the beginning of every month. If you'd like a more detailed breakdown of any segment of the market, I can provide more data.  

Cheers!

---

Balanced conditions take pressure off prices

Calgary, Alberta, May 1, 2025 – A boost in new listings this month relative to sales caused April inventories to rise to 5,876 units. While this is more than double the levels reported last year, supply last year was exceptionally low and current levels are consistent with levels we traditionally see in April. Sales in April reached 2,236 units, 22% below last year’s levels but in line with long-term trends.

“Economic uncertainty has weighed on home sales in our market, but levels are still outpacing activity reported during the challenging economic climate experienced prior to the pandemic,” said Ann-Marie Lurie, Chief Economist at CREB®. “This, in part, is related to our market's situation before the recent shocks. Previous gains in migration, relatively stable employment levels, lower lending rates, and better supply choice compared to last year’s ultra-low levels have likely prevented a more significant pullback in sales and have kept home prices relatively stable.”

The rise in inventory levels helped the market shift to balanced conditions with nearly three months of supply. However, conditions vary depending on price range and property type. Lower-priced detached and semi-detached properties continue to struggle with insufficient supply, while row and apartment-style homes are seeing more broad-based shifts to balanced conditions.

The additional supply has helped relieve the pressure on home prices following the steep gains reported over the past several years. Benchmark prices for each property type have remained relatively stable compared to last month. 

However, compared to last year, detached and semi-detached prices are over 2% higher than last year's levels, while apartment and row-style home prices have remained relatively unchanged.

For more specific, detailed information on the different segments of the market (detached, semi-detached, row/townhouse, apartment condos) and updates on the Airdrie, Cochrane and Okotoks markets last month, jump over to my CREB MONTHLY STATS page.

Contact Me

---

CREB 2025 FORECAST SUMMARY

Calgary Alberta, January 2025

The 2025 FORECAST SUMMARY was released by CREB in mid-January. Housing demand is expected to remain above long-term trends, supported by past gins in population and employment, easing lending rates, and better supply options. However, factors such as slowing migration from record highs, increased competition from new home construction, and heightened economic uncertainty are likely to limit further growth in resale activity. Despite this, the forecasted sales of over 26,000 units reflect a strong housing market, with activity levels over 20% higher than long-term trends.
 
While overall sales levels are expected to remain stable, the distribution of sales may change.  Easing rental rates, driven by higher completions and slower international migration, are anticipated to impact the condominium market . Meanwhile, lower lending rates, improved supply, and continued, though slower, migration from other provinces are expected to support growth in detached home sales.

Record-high new construction levels are adding supply to the market, contributing to an increase in resale listings. As more new homes are completed in 2025, the overall supply is projected to grow. This shift should help the market move toward more balanced conditions, slowing price growth to an annual gain of 3%.

PRICE GROWTH VARIATIONS FOR 2025

 Citywide price growth in 2025 is expected to moderate compared to the 7% increase reported in 2024 . However, price changes will vary across market segments.
 
Increased competition from new, higher-priced units may lead to slower resale price growth in districts where more supply is being added. 
 
Driven by location, lower-priced resale homes are expected to see stronger price growth, supported by steady demand and limited supply options. Despite some adjustments within specific market segments, continued population growth should maintain strong absorption levels across Calgary. However, the market is likely to exhibit a more balanced state compared to the past three years.

To obtain a copy of the full report, please contact me at ssoles@royallepage.ca.

Here’s what you need to know about Canada’s First Home Savings Account (FHSA)

Saving for your first home? When it comes to putting money away to buy their first home, the federal government’s ‘tax-free in, tax-free out’ First Home Savings Account aims to give Canadians a helping hand.

Since April 1 2023, Canadians aged 18 or older who are purchasing their first home are eligible to enroll in a tax-free First Home Savings Account (FHSA). Introduced in the 2022 federal budget, the FHSA combines elements of a Tax-Free Savings Account (TFSA) and a Registered Retirement Savings Plan (RRSP), allowing users to make tax-deductible contributions and tax-free withdrawals from the account for the purposes of saving for a home. 

Am I eligible for the FHSA?
In order to open an FHSA, users must be at least 18 years old and a Canadian resident. Account holders must also be a first-time homebuyer — someone who has not owned a home and lived in it during the calendar year before the account is opened, or at any time during the prior four calendar years. 

An FHSA can be used for a maximum of 15 years, and stay open until December 31st in the year that the account holder turns 71 years old. Users cannot contribute to their spouse or common-law partner’s FHSA. 

How much can I contribute to my FHSA?
FHSA holders can contribute an annual maximum of $8,000 into their account, with a lifetime contribution limit of $40,000. Unused contribution room can be carried over to the next year up to a maximum of $8,000.

Carry-forward amounts start accumulating after the user opens the FHSA for the first time. Only the account holder can claim an income tax deduction for contributions made in a particular taxation year.

It is possible to have more than one FHSA open at a time, but the total amount that an individual can contribute to all of their FHSAs cannot exceed their annual and lifetime contribution limits. Similar to a TFSA, a 1% tax is applied on over-contributions to an FHSA for each month that the excess amount exists in the account. 

What are the benefits of the FHSA?
An FHSA marries together the concepts of a TFSA and an RRSP in one account. Contributions to an FHSA, like an RRSP, are tax-deductible.

Additionally, any withdrawals made for the sake of purchasing a home are non-taxable, similar to a TFSA, including any investment growth.

Users can take advantage of a series of qualified investments in their FHSA, including mutual funds and publicly-traded securities, plus government and corporate bonds. Users can also set up a self-directed FHSA to manage their own portfolio.

What happens when I want to take money out of my FHSA?
If a user wants to withdraw funds from their account, there are a few things to keep in mind. The account holder must be a first-time homebuyer at the time a withdrawal is made.

The qualifying home must be acquired (or construction must be completed) no more than 30 days prior to the withdrawal, and before October 1st of the following year, with the intention of occupying the property as their principal residence within one year after acquiring it. Be sure to read carefully the definitions of a first-time homebuyer and a qualifying home. 

If you wish to transfer money out of your FHSA to another account, you can do so to another FHSA, an RRSP or a Registered Retirement Income Fund (RRIF). Be sure to close your FHSA on or before December 31st of the year following your first qualifying withdrawal, when your participation period concludes.

To learn more about the First-Home Savings Account, visit Canada.ca.