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Global News
25-07-2025
- Politics
- Global News
Calgary rezoning debate heats up as more neighbourhoods explore restrictive covenants
Residents in a northwest Calgary neighbourhood are exploring the use of restrictive covenants to pushback on citywide rezoning as the debate over the policy continues with a looming election. Several new and proposed developments under the zoning policy in Charleswood and Brentwood have a coalition of area residents frustrated. 'We do need some housing development,' said Valerie Laferriere, who chairs the Brentwood Charleswood RC Initiative. 'But this mid-block, high-density, 60-per cent lot coverage, 12-metres-high stuff I think everybody is done with.' The group is now exploring the use of restrictive covenants to 'take back their communities,' and 'control what kind of development they want to see now and in the future,' according to Laferriere. A restrictive covenant is a legally binding agreement on a property title that limits how a property is used or developed, even after it is sold to a new owner. Story continues below advertisement Brentwood and Charleswood would be joining residents in 11 other communities looking to use the legal tool, according to lawyers at Carbert Waite, including Varsity, Lakeview and Lake Bonavista. View image in full screen A map showing the communities exploring restrictive covenants in Calgary. Global News 'I do think restrictive covenants were here long before this council, they'll be here long after this council,' Laferriere said. 'I think it does give a tool back to property owners to exercise their property rights.' Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy She said the proposed developments in the area have raised concerns for residents over potential impacts to parking, privacy, and property values. The citywide rezoning policy took effect on Aug 6, 2024, after Calgary city council voted in favour of a bylaw to change the city's default residential zoning, to allow a variety of housing types including single-detached, semi-detached, duplexes and rowhouses on a single property. Story continues below advertisement It's expected to be a hot button issue ahead of the next municipal election in October, with three candidates running for mayor vowing to repeal it including Jeromy Farkas, Sonya Sharp and Jeff Davison. This week, the Calgary Real Estate Board (CREB) reaffirmed its opposition to the policy in its YYC Votes 2025 campaign, aimed at highlighting several housing related issues to voters and candidates. CREB, which represents nearly 8,800 realtors in Calgary, outlined its support for sustainable community growth and responsible municipal spending, while looking for an alternative to the citywide rezoning policy. 'In that opposition, we believe that grassroots, community-focused engagement is important for all these communities,' said Christian Twomey, chair of CREB's government relations standing committee. However, Ward 8 Coun. Courtney Walcott said he feels CREB's policy stance and the real estate board's own data is conflicting. 'They're trying to appease the reality that the only way to make sales in a housing crisis is for housing to be affordable, but then, on the other hand, the way to make the most money is to have exclusivity in the housing sales and you see this throughout their bullet points,' Walcott told Global News. Walcott pointed to Calgary's benchmark housing price of $586,200 in June, which is down nearly four per cent year-over-year. Story continues below advertisement CREB data shows inventory for rowhouses jumped 22 per cent since June of last year, with semi-detached inventory climbing just shy of 20 per cent. It also shows the benchmark price of a rowhouse in Calgary is $450,300, down 3.1 per cent. The real estate board's June update said while all property types reported gains in inventory, both row and apartment-style homes reported inventory levels 'over 30 per cent higher than long term trends.' Recent city data shows 271 applications were submitted for new homes in established communities in the first quarter of 2025, a 59-per cent increase over the same time period last year. Thirty-one per cent of those applications were rowhouses and townhomes, a 163-per cent increase from the same quarter in 2024, while citywide rezoning enabled nearly half or 45 per cent of all new low-density housing development permits in established neighbourhoods. 'If affordability is the goal, why stray off the path that's working?' Walcott added. CREB is defending its position, and said other factors are contributing to lower sales and home prices including no decline in lending rates, economic uncertainty and price concerns. 'To say that blanket rezoning is the cause of prices going down and the increase of supply is just patently false,' Twomey said. Story continues below advertisement Walcott, who is not running for re-election, also raised a concern with the growing trend of communities seeking restrictive covenants. 'While I respect everyone's right to do what they want with their own property, I do think it sets a negative precedent that people are using a 100 year old tool to stop their community from having more neighbours,' he said. The next municipal election is on Oct. 20, 2025.
CTV News
03-07-2025
- Business
- CTV News
Calgary condo market retreats as inventory grows
A for sale sign is seen in front of a condo building in Calgary. (CTV News) According to the Calgary Real Estate Board (CREB) condo sales continue to decline in June while inventory continues to grow. June saw a year-over-year increase of 73 per cent in inventory of 2,112 listings. Inventory is now at four months while the benchmark price dipped to $333,500, down three per cent year-over-year. 'The big change here has been the supply side,' said CREB's chief economist Ann-Marie Lurie. 'Listings have really been rising,' Lurie added. 'There is a lot more choice, not just the resale side, but on the new home side, both in terms of condos as well as there's more rental availability.' Slowing migration to the city is also a factor in the condo slump according to Lurie. Areas experiencing the largest year-over-year declines are the northeast, north and southeast districts. Realtor Tanya Eklund, who has sold properties in the inner city for 25 years, has noticed the trend. 'The apartment condo market in Calgary has really seen a huge shift in the last 30 to 45 days,' said Eklund. Eklund provided an example of a unit for sale in Edenwold Heights. 'This condo last year would have sold for $320,000 now,' said Eklund. 'We will be lucky to get $300,000 (in 2025). We are listed at $312,000 and there are six other units listed in the same building. 'Higher supply and clearly less demand based on the amount of showings I am getting,' she added. The Calgary Real Estate Board doesn't anticipate the trend slowing down anytime soon. 'There still is more supply coming. We have a lot of product that currently is under construction,' said Lurie. According to Lurie, there are over 14,000 units under construction in Calgary.
CTV News
03-07-2025
- Business
- CTV News
Calgary home sales drop again in June as inventory keeps piling up: board
The Calgary Real Estate Board says home sales in the city decreased 16.5 per cent in June. THE CANADIAN PRESS/Jeff McIntosh CALGARY — The Calgary Real Estate Board says home sales in the city decreased 16.5 per cent in June compared with last year as higher levels of new listings led to inventory gain. The board says 2,286 homes changed hands last month, with declines recorded across all property types year-over-year. CREB chief economist Ann-Marie Lurie says sales decreases come as supply has improved across rental, resale and new home markets, allowing for more choice as inventory returned to levels reported in 2021 before a population surge. There were 4,223 new listings on the market last month, up 11.2 per cent from a year earlier, as the city's inventory reached 6,941 homes for sale — an 83.2 per cent increase. Lurie says additional choice in the market — combined with stagnant lending rates, persistent uncertainty and concerns of price adjustments — is keeping many potential buyers on the sidelines, which 'is weighing on home prices, especially for apartment and row style homes.' The residential benchmark price was $586,200 last month, marking a 3.6 per cent decrease from June 2024 levels. This report by The Canadian Press was first published July 2, 2025.
CTV News
03-07-2025
- Business
- CTV News
Inside Calgary's 5 most expensive homes for sale right now (July 2025)
The Calgary Real Estate Board says home sales in the city decreased 16.5 per cent in June compared with last year as higher levels of new listings led to inventory gain. The board says 2,286 homes changed hands last month, with declines recorded across all property types year-over-year. CREB chief economist Ann-Marie Lurie says sales decreases come as supply has improved across rental, resale and new home markets, allowing for more choice as inventory returned to levels reported in 2021 before a population surge. There were 4,223 new listings on the market last month, up 11.2 per cent from a year earlier, as the city's inventory reached 6,941 homes for sale — an 83.2 per cent increase. Lurie says additional choice in the market — combined with stagnant lending rates, persistent uncertainty and concerns of price adjustments — is keeping many potential buyers on the sidelines, which 'is weighing on home prices, especially for apartment and row style homes.' The residential benchmark price was $586,200 last month, marking a 3.6 per cent decrease from June 2024 levels. Dreaming of owning a lavish new home? Here are the city's five most expensive already-constructed residential homes for sale as of July 2, 2025, according to $13.5M mansion on Crescent Road Calgary home - 732 Crescent Road N.W. Inside 732 Crescent Road N.W. (CIR Realty/Krista Legue) Calgary most expensive home for sale is a mansion sitting on a prestigious stretch of road in the city's northwest. The 8,700-square-foot home was built in 2022 by Maillot Homes and features six total bedrooms (four above grade and two below), 10 bathrooms and three half-baths. Calgary home - 732 Crescent Road N.W. - living room Inside 732 Crescent Road N.W. (CIR Realty/Krista Legue) The home is seated along Crescent Road N.W, in the community of Rosedale, and features an unobstructed view of the city's downtown skyline. The outside of the mansion is clad in white Turkish limestone, while the inside was decorated by Julie Lanctot at Paul Lavoie Interior Design, who took inspiration from Alice in Wonderland. Calgary home - 732 Crescent Road N.W. - library Inside 732 Crescent Road N.W. (CIR Realty/Krista Legue) The 2.5-storey home is located at 732 Crescent Road N.W. It has been listed on for 47 days. $7.25M Eagle Ridge bungalow 40 Eagle Ridge Place S.W. A look at 40 Eagle Ridge Place S.W. in Calgary, Alta. ( This gated home in Eagle Ridge sits on a sprawling double lot. Built in 1971, the home has four above-grade bedrooms and one below grade, plus seven bathrooms. 'Once you step inside past the hand-chiselled walnut doors, you are greeted by a grand foyer that sets the tone for the splendor that awaits,' states the listing. 40 Eagle Ridge Place A look at 40 Eagle Ridge Place S.W. in Calgary. ( 'The main rooms are nothing short of magnificent, boasting expansive dimensions and exquisite finishes.' The home may be of interest to culinary enthusiasts due to its walk-in cooler, gas cooktop, double ovens and commercial-grade appliances. 'Whether you're hosting a grand gala or preparing an intimate meal for loved ones, this culinary haven is sure to impress.' 40 Eagle Ridge Place S.W. A look at 40 Eagle Ridge Place S.W. in Calgary, Alta. ( The bungalow is located at 40 Eagle Ridge Pl. S.W. It has been listed on for 273 days. $6.9 M historical mansion in Upper Mount Royal 930 Prospect Avenue S.W. - 6 930 Prospect Avenue S.W. in Calgary. ( This historic mansion, known as the 'Burns Residence,' is in Upper Mount Royal. The 5,298-square-foot home was built in 1912 and originally owned by Alfred Price, a superintendent with the Canadian Pacific Railway. 930 Prospect Avenue S.W. - 2 930 Prospect Avenue S.W. in Calgary. ( Aside from serving as the home for several notable and influential Calgarians, the residence sits on a sprawling half-acre lot surrounded by mature trees and lush landscaping. The three-storey home has five bedrooms, six full bathrooms and three half-baths. 930 Prospect Avenue S.W. - 8 930 Prospect Avenue S.W. in Calgary. ( One of the mansion's biggest draws may be the pool; it's situated near a glass cabana that can serve as a bar area or greenhouse. The home is located at 930 Prospect Ave. S.W. It has been listed on for 22 days. $6.5M mansion in Upper Mount Royal 1118 Premier Way SW A look at 1118 Premier Way S.W. in Calgary, Alta. (Mary Lou McCormick homes) This mansion in Upper Mount Royal was built in 2014 and includes five total bedrooms (four above grade and one below grade) and eight total bathrooms (six full and two half-baths). The fully furnished home is 5,098 square feet and, according to the listing on offers 'the ultimate blend of family functionality and elevated entertaining.' 1118 Premier Way SW A look at 1118 Premier Way S.W. in Calgary, Alta. (Mary Lou McCormick homes) 'From the moment you step inside, you're greeted by a dramatic grand staircase set beneath an expansive skylight, flooding the entry with natural light and setting the stage for the architectural elegance found throughout,' states the listing. 'Every space is a masterclass in luxury, designed by renowned interior designer Paul Lavoie and awarded Western Living's Best Home of the Year in 2022.' 1118 Premier Way SW A look at 1118 Premier Way S.W. in Calgary, Alta. (Mary Lou McCormick homes) The two-storey home is located at 1118 Premier Way S.W. It has been listed on for 47 days. $6M Upper Mount Royal mansion 2906 Marquette Street S.W. A look at 2906 Marquette Street S.W. in Calgary, Alta. ( Built in 2009, this Upper Mount Royal mansion features a swim-in-place lap pool with an underwater treadmill, an elevator, a heated driveway and a theatre. The home, described by the listing as private and secure, overlooks Cartier Park. 'This exceptional residence seamlessly combines style and sophistication and luxurious amenities,' states the listing. 2906 Marquette Street S.W. - 3 A look at 2906 Marquette Street SW in Calgary, Alta. ( 'The welcoming front entrance leads to a dramatic free-standing staircase, ascending to the main floor's spacious living room, boasting sweeping views and a double-sided gas fireplace shared with a cozy family room.' The home is 5,289 square feet with four bedrooms and six bathrooms. The garage has room for five cars and includes a rotating platform and a Tesla electric charger. 2906 Marquette Street S.W. - 4 A look at 2906 Marquette Street SW in Calgary, Alta. ( Not only is the driveway heated, but so are the front stairs and the walkway. The three-storey home is located at 2906 Marquette Street S.W. It has been listed on for 23 days. - With files from The Canadian Press
Winnipeg Free Press
02-07-2025
- Business
- Winnipeg Free Press
Calgary home sales drop again in June as inventory keeps piling up: board
CALGARY – The Calgary Real Estate Board says home sales in the city decreased 16.5 per cent in June compared with last year as higher levels of new listings led to inventory gain. The board says 2,286 homes changed hands last month, with declines recorded across all property types year-over-year. CREB chief economist Ann-Marie Lurie says sales decreases come as supply has improved across rental, resale and new home markets, allowing for more choice as inventory returned to levels reported in 2021 before a population surge. There were 4,223 new listings on the market last month, up 11.2 per cent from a year earlier, as the city's inventory reached 6,941 homes for sale — an 83.2 per cent increase. Lurie says additional choice in the market — combined with stagnant lending rates, persistent uncertainty and concerns of price adjustments — is keeping many potential buyers on the sidelines, which 'is weighing on home prices, especially for apartment and row style homes.' Monday Mornings The latest local business news and a lookahead to the coming week. The residential benchmark price was $586,200 last month, marking a 3.6 per cent decrease from June 2024 levels. This report by The Canadian Press was first published July 2, 2025.
