Go Big! Home Owners Seek to Upgrade
The Trend for Tiny Homes is a Thing of the Past
The recent market trend for that tiny, more efficient home has ended. Covid-19 has changed the way people live and where they work. Goodbye commute, many Calgarians work from home. This is a movement that will stay for the 'for-seeable' future and may be a development that is here forever. People think about the square footage they now occupy day in and day out. They want to increase the space of their home and by a lot!
Single Family Home Sales are Up
The time when buying downtown meant a place to invest is no longer a sure bet, at least not for the time being. The real estate movement these days is buying into suburbs, up by 45%. The average price is in the $600,000 range. Consequently, apartment sales this past season have fallen by one per cent compared with the same time last year.
Main Floor Office Space a High Priority.
"Buyers during the COVID pandemic are favouring larger homes," says Barb Richardson, senior vice-president at Sotheby's International Realty of Canada. It reflects a growing preference among buyers for space. Having plenty of room especially for an office on the main floor is important. "Office space in homes is paramount," she says.
Big Backyards are in Demand
Most families dream of a back yard where the kids can play and be safe. Due to the Corona Virus pandemic, it is more important than ever. Recent numbers from the Calgary Real Estate Board show that there is an increase in buyers wanting a big yard, landscaping and even a vegetable garden.
Think of Selling to Upgrade - Don't Expect a Crowd at Open Houses
Calgary realtors say they are surprised by the level of activity in the city's housing market but open houses aren't what they used to be. The Calgary Real Estate Board (CREB) has reported that much has changed when it comes to open houses because of Covid-19.
New technology with 3-D scans of the homes, inside and out allows buyers and sellers to have open houses 24/7 online. Realtors have stated that website traffic has definitely spiked since the pandemic hit.