When the shuttered King Edward School was transformed into cSPACE King Edward, an incubator for artists, non-profits and entrepreneurs, it proved an ambitious example of the economic, environmental and social benefits of preserving, rather than demolishing, Calgary's historic buildings.

More than a year after it began, the COVID-19 pandemic continues to spark increased interest in Alberta's recreational property market, as homebuyers seek an escape from congested cities.

Long-term remote work, which has been a reality for many Albertans for the last 12-plus months, has also made people realize that if they can work from anywhere, why not work from a cottage, cabin or waterfront property?

Calgary is one of the most unique cities in Canada when it comes to weather. Throughout the year, we can see temperatures span from -40C to 40C in a matter of months, and chinooks can warm our frostbitten city into a springtime paradise in only a few short days.

Because of this, our homes have to be prepared to withstand the most extreme weather Alberta has to offer. While these temperature fluctuations can cause damage to your home's exterior, they can also affect your home's interior, as there is a direct correlation between the temperature outside and the indoor humidity. The damage your home sustains could lead to unforeseen issues and cost thousands of dollars to repair.

The initial impact of COVID-19 on the housing market began last March.

One year later, it is not a surprise that March sales in 2021 were higher than in 2020. However, at 2,903 sales, this was the highest March total since 2007.

For the third quarter in a row, sales reached new record highs. Most of the gains in the first quarter were driven by exceptionally strong detached home sales.

High River sales have been somewhat dampened by weak levels of new listings. Gains in new listings in the first quarter helped support stronger sales compared to last year.

Sales reached a record high by the end of the first quarter. While the typical detached home in Chestermere is priced higher than the typical home in Calgary, it is also generally larger and newer.

This product type remains far from record highs, but apartment condominium sales improved in the first quarter and are at the highest levels seen since 2014.

Prior to COVID-19, the economic challenges in our city created an environment of weak resale housing demand. When adjusting sales relative to the population from 2018-19, it was the slowest sales per capita on record. Over this same period, the housing market was struggling with excess supply and declining prices.