When will home prices finally DROP?!? - Calgary Real Estate Market Update - August 2023

Aren’t rising interest rates supposed to bring down the price of real estate? Where is all the money coming from?!
In our August Monthly Update, I breakdown what’s happening, why it’s happening, and where I believe the market is going, and the hidden market force driving prices.
Thinking of buying or selling? Give us a call for a zero pressure, informed experience. :)
Brad McCallum // REAL Broker // McCallum Group
587.441.4045 // office@mccallumgroup.ca
👉calendly.com/bradmccallum
🔥 AGENTS! 🔥 Interested in learning how to partner with me at REAL Broker? Schedule a call/zoom and let's discuss!
calendly.com/bradmccallum/45lmr
Follow us on Instagram!
the.real.brad.mccallum
or Facebook!
the.real.brad.mccallum
To search all available listings in Calgary click here! 👉
www.calgaryYYCrealestate.com
#lakeview #yycrealestate #calgaryrealtor

Пікірлер: 42

  • @stephenfermoyle4578
    @stephenfermoyle457810 ай бұрын

    Your videos are amazing ! every detail, love the cut away side shots and the information. BRAVO

  • @PalmBeachesPaul

    @PalmBeachesPaul

    10 ай бұрын

    I've known Brad for a long time and he is an amazing videographer and I was just thinking the same thing those cutaway side shots are brilliant.

  • @user-br4ug9xg9e
    @user-br4ug9xg9e10 ай бұрын

    Thank you for this video. Very informative.

  • @jerrymmoras
    @jerrymmoras10 ай бұрын

    Great presentation and this one is informative.

  • @IMCARS
    @IMCARS9 ай бұрын

    Great insight! You should do a property tour of my penthouse for sale currently! ;)

  • @BradMcCallum

    @BradMcCallum

    9 ай бұрын

    Well, if it doesn't sell, let us know, we'd love to feature and sell it!

  • @marshamccallum4448
    @marshamccallum444811 ай бұрын

    this is very interesting

  • @JustinOutdoors
    @JustinOutdoors10 ай бұрын

    It's crazy how much of a difference there can be niche to niche too. We're waiting for the right place to come on the market (4 bed/bath, 2 office spaces, with a nice south facing backyard) in Marda Loop and prices seem to be trending down slightly. Always enjoy your videos. Would love to hire your editor.

  • @BradMcCallum

    @BradMcCallum

    10 ай бұрын

    Thanks a lot Justin!

  • @codylittlefield7885

    @codylittlefield7885

    10 ай бұрын

    Hello competition! Haha I hope you can find what your looking for. This is pretty much exactly what we're looking for too.

  • @ImJidionDaddy
    @ImJidionDaddy10 ай бұрын

    Bossman Brad

  • @robthewaywardwoodworker9956
    @robthewaywardwoodworker995611 ай бұрын

    Good analysis. Maybe they meant Lethbridge! It's dead. The big cities seem mildly immune to the current fluctuations in sales. Come sell my house. LOL

  • @kevinler9999
    @kevinler999910 ай бұрын

    We love your channel! A question please, will foreignor buyers need to pay extra tax in Calgary?

  • @BradMcCallum

    @BradMcCallum

    10 ай бұрын

    Absolutely not! :) Let me know if we can help!

  • @sovereignty14

    @sovereignty14

    10 ай бұрын

    Foreign buyers should be _heavily_ taxed! Canada is a sovereign country!

  • @joshualamoureux2520
    @joshualamoureux252010 ай бұрын

    I noticed about 5-10% drop in land value properties - I think due to cost of hard money and infill builders struggling with liquidity

  • @BradMcCallum

    @BradMcCallum

    10 ай бұрын

    Yep, the cost of private lending is quite high - 14-16% for a lot of these infill projects - meaning that they could easily have some high borrowing costs if the properties linger. Plus its been tough to manage the budget when supply/demand on materials and labour is still pretty funky.

  • @jelopezta
    @jelopezta11 ай бұрын

    just change taking only days to sell to hours. Swear people were buying houses only looking at pictures and not even visiting the property to place an offer

  • @BradMcCallum

    @BradMcCallum

    11 ай бұрын

    Truth. A lot of people from out of province are buying virtually.

  • @stephenn88

    @stephenn88

    10 ай бұрын

    @@BradMcCallumBrad, who is buying up all condos right now at this high interest environment? 😢

  • @BradMcCallum

    @BradMcCallum

    10 ай бұрын

    @@stephenn88 Investors. Paying cash.

  • @stevegaspar
    @stevegaspar11 ай бұрын

    I guess it depends. In some of the newer communities (far far far SE or SW) I'm seeing well over 40 places for sales and many are being reduced at a weekly/monthly rate. But again new communities and little amenities

  • @BradMcCallum

    @BradMcCallum

    11 ай бұрын

    The homes that sit are the greedy sellers. BUT - the market's moving toward them, and many of the homes that were overpriced just a month or so ago are starting to look more and more reasonable.

  • @Bartno12001
    @Bartno1200110 ай бұрын

    So glad this is happening in calgary. Long overdue. Almost no house price appreciation from 2013-2020. Finally people are making some decent return. Hopefully price per sq ft go to $500 by 2030.

  • @sovereignty14

    @sovereignty14

    10 ай бұрын

    COVID-19 government-lockdown-mandate insanity made it happen; there are still many people in Ontario & BC who are fed up with their province. Now, all attention is on Calgary.

  • @merf64
    @merf6410 ай бұрын

    When will housing prices drop/stabilize? When we don't have 1.2 million people a year coming to Canada.

  • @BradMcCallum

    @BradMcCallum

    10 ай бұрын

    You could be on to something...

  • @sovereignty14

    @sovereignty14

    10 ай бұрын

    #1 problem, negatively affecting everything.

  • @LordBagdanoff
    @LordBagdanoff9 ай бұрын

    Prices increase but the demand is still there 😅

  • @SUPERFLUID88
    @SUPERFLUID888 ай бұрын

    Imagine purchasing a place for 3 million and losing half of the value just so someone else can afford a place hmmm

  • @Saturn7747
    @Saturn774710 ай бұрын

    Home price won't drop in Calgary for sure, and I do believe average price for detached homes in good communities (NW & part of SW) will even hit 1million in the near future.

  • @user-ft6bu8ih4e

    @user-ft6bu8ih4e

    9 ай бұрын

    famous last words...

  • @cbb9580
    @cbb958010 ай бұрын

    RAISE THE FN RATES WAY HIGHER PRICES WILL COME WAY DOWN FAST JUST DO IT 🐷

  • @BradMcCallum

    @BradMcCallum

    10 ай бұрын

    If they did this we’d have a lot of people going homeless. We have a severe housing shortage in this country for the population growth. If we raise the rates it wouldn’t solve the supply issue - in fact it might make it worse because no one will build

  • @abdulhai93

    @abdulhai93

    10 ай бұрын

    ​@@BradMcCallumthe BoC missed their inflation target, and the latest data shows inflation in fact increased. Does that mean the BoC will increase again? Lets see in september

  • @BradMcCallum

    @BradMcCallum

    10 ай бұрын

    @@abdulhai93 my guess is that they will

Келесі