For Sue and Jason Bissonnette, East Village condo investment was too good to pass up

Forty-somethings Sue and Jason Bissonnette love to travel and experience new things. They own vacation properties around the world, including a three-season recreation trailer at B.C.'s Moyie Lake and two timeshare properties in the Caribbean. When they're not travelling, they spend most of their time hanging out in Airdrie, where they own a two-storey, 2,000-square-foot home that they share with their two kids – a 19-year-old daughter and a 22-year-old son. Always on the lookout for new investment opportunities, the couple couldn't resist exploring the options when they were introduced to Knightsbridge Homes' N3 condominium project. They were attracted to its East Village location – steps away from the downtown core and the LRT – and the car-free lifestyle. A Car2Go membership, furniture package from Ikea and a Biria urban bicycle sweetened the deal. In the end, the Bissonnettes purchased a 498-square-foot, two-bedroom, one-bathroom condo on the 14th floor.

Patricia and Michael Insole went from renters to buyers and never looked back

For Patricia and Michael Insole, timing was everything when it came to purchasing their penthouse condo in Calgary's inner-city Beltline neighbourhood.

They weren't really looking to buy a home, but when the building where they were renting became a condominium conversion, they jumped at the chance to purchase. They gathered a down payment, borrowing from family and friends, and purchased their 1,700-square-foot condo on the 15th floor.

Tracey Hodgson secured her ideal lock-and-leave lifestyle with a new Inglewood condo

At 55, Tracey Hodgson is on the cusp of retirement. She and her husband are winding down their business commitments (she owns a beauty supply company) and plan to cycle between periods of work and play. They recently purchased a strata-type lake property in Kelowna and a condo in Las Vegas, and have listed their home in Chestermere. Their vision is to float between the two homes. But with three grown children and a grandchild in Calgary, they wanted a touchstone in the city – a place where they could park themselves at the centre of the action while visiting family. They found what they were looking for in the heart of Inglewood at AVLI on Atlantic Avenue, a collection of 64 condominiums, garden terrace designs and live/work townhomes designed by Jeremy Sturgess of Sturgess Architecture.

Popularity of condo living among seniors is on the rise

When it comes to choosing a home later in life, age often brings thoughtful consideration of what really matters. More and more in Calgary, that wisdom is leading seniors to choose condominiums as the place to live out their golden years.

"Five years ago, when we tracked inner-city demographics, you saw maybe 1-2 per cent of seniors purchasing condos," said Oliver Trutina, vice-president of Calgary-based builder Truman.

"Today, that number is around 20 per cent. Since this is often their third or fourth home purchase, they know what they want and are asking for it."

After a tough year for the 'other half' of Calgary's real estate market, the city's apartment/attached segments are expected to see gradual turnaround in 2017

Lower prices and added choices created buyers' conditions in Calgary's attached and apartment sectors in 2016. But a slow recovery is expected in 2017, bringing both sectors into better balance, says CREB®'s 2017 Economic Outlook & Regional Housing Market Forecast.

The degree to which they'll the "other half" will get there will differ, however. While the attached sector is set to post positive overall numbers, apartment sales and prices will be moderated by persistently high inventory levels.

Detached prices dip below $500,000 for first time since 2014

Coming off a month of stronger sales activity, November's resale residential housing market returned to previous trends, according to CREB®.

In its November housing summary released Dec. 1, year-over-year monthly sales totaled 1,227 units, which is nearly three per cent lower than last year and 17 per cent below long-term averages.

"November was the first full month with CMHC's new lending rules in effect," said CREB® chief economist Ann-Marie Lurie. "As suspected, the gains in last month's sales were temporary. Stringent conditions for borrowers are converging with the current economic climate and weighing on demand."

University research looks at solar solutions to multi-storey challenges

New research at the University of Calgary could lead to condominium and apartment high-rises being retrofitted to become energy-efficient and green-energy-producing buildings.

Caroline Hachem-Vermette, an assistant professor of architecture in the Solar Energy and Community Design Lab at the University of Calgary's Faculty of Environmental Design, is looking at new ways to optimize solar capture on multi-storey buildings to help offset their energy use.

"Most of the buildings that exist now will be existing in 50 years, so we really need to move in this direction," said Hachem-Vermette, whose interest in the area came out of wider research she did on the design of mixed-use solar communities.

Housing market offers some surprises, different perceptions, say local experts

A quick look at today's real estate market might not exactly fill first-time homebuyers with optimistic anticipation. Yet dig deeper and there's plenty of reason to get excited, say housing experts.

Even though home sales are down by double-digit percentages in terms of units sold and money spent compared to a year ago, the average selling price is up slightly — about two per cent, to $474,605 in August, according to CREB®.

Condo developers respond to 'downsizing' needs

As the largest segment of the population in North America, baby boomers have shaped our world more than any other age group. And their impact on housing is profound.

Now, while this generation, born between 1946 and 1964, is becoming increasingly gray, the real estate industry is responding to their needs for housing.

Many developers in Alberta are turning their attention to high-density high-rises in centrally located neighbourhoods to reflect boomers' demand for stylish, worry-free living, said Parham Mahboubi, vice-president of planning and marketing at Qualex-Landmark — a Vancouver-based development firm which is the force behind Park Point in the Beltline along 12th Avenue S.W.

Over-supply, fewer newcomers behind increasing vacancy rates

Vacancy rates in Calgary have spiked so far this year and are expected to rise for the foreseeable future, say industry insiders.

And with few signs of significant changes in the economy on the horizon, renters will enjoy plenty of choice and price flexibility, while landlords will need to get aggressive.

"Vacancy started rising pretty rapidly after the spring of last year and it's still been rising," said Gerry Baxter, executive director of the Calgary Residential Rental Association, which has about 850 members, representing between 65,000 and 70,000 rental units. There are more than 700 landlords in the association.