For many residents of apartment-style condo buildings, a balcony offers a small, private slice of the outdoors – a place to kick back with a book, sip your morning coffee, catch a few rays, or enjoy an al fresco meal or cocktail.

In recent months, the widespread adoption of social distancing and self-isolation to combat COVID-19 has highlighted the importance of private outdoor spaces. For those who have them, balconies and backyards provide a crucial refuge – a safe space to get some fresh air while avoiding contact with other people.

In two short months, Sodo Residences has 31 per cent of its luxury rental apartments occupied and 40 per cent of the 305 units already leased.

By following three simple rules, you can keep your apartment plants happy and healthy

They say you should raise a plant before you raise a pet – it's a warm-up activity. At the very least, tropical plants are easier to take care of, and cheaper too.

Apartment-ready plants, typically in four inch (9 cm) pots, are available at most grocery stores. At that size they're not a big financial or emotional investment. Plus, tiny tropical varieties are just so cute. Before bringing home a baby houseplant, however, it's important to think of the light and space you have available in your apartment.

Excess supply keeps housing prices low in Calgary's apartment sector

It's a seasoned phrase that harkens back to childhood memories of excess, but it's hard to argue with the idea that too much of anything isn't good for us.

The sentiment certainly holds true when considering the buffet of housing options in Calgary's apartment sector. As most product types have started the slow churn toward more balanced conditions, apartment product is struggling to digest a smorgasbord of inventory.

"Overall conditions appear to be improving, but the market is still behaving a little differently on the apartment side," said CREB® chief economist Ann-Marie Lurie. "Inventories are still rising as the growth in sales is not enough to compensate for further gains in new listings."

Apartment sector prompts optimism for buyers

After living in southwest communities of Midnapore and Evergreen for 27 years, transitioning to an apartment in Mission was an easy decision for Michelle Norman.

"Condo living was a very easy adjustment," she said. "I like the idea of being surrounded by a good mix of young and older residents as well as not having to worry about such things as yard work and snow removal."

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®.

Provincial decline led the country

Spending on new residential construction in Alberta totalled $738.3 million in April, down from the $1.025 billion seen the previous April, according to the latest numbers from Statistics Canada.

The 28 per cent decline was the largest fall of any of the provinces, with decreased investment occurring in all dwelling types – although the decline was mainly due to lower spending on single-family dwellings.

In total, spending on new housing construction decreased in five provinces in April. Alberta was followed by Saskatchewan and Manitoba.

Aging demographic continues to shape Calgary's housing market

As the largest segment of the population in North America, baby boomers have undoubtedly 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 Calgary are turning their attention to high-density high-rises in the Beltline and other 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.

In the midst of a correction, experts identify silver-lining investment opportunity

Buy low. Sell high. It's the quintessential mantra of successful investors.

And for those who have long sought to execute this philosophy in Calgary's real estate market, a window of opportunity may be opening thanks to weak oil prices – particularly in the apartment-style condominium sector, which has seen inventory levels skyrocket in 2015.

According to CREB®'s recent monthly housing forecast, months of supply in the apartment sector increased to 6.9 per cent in November, causing benchmark prices to slide
0.5 per cent from October to $287,000. Meanwhile, year-over-year prices were off by 4.6 per cent.

By comparison, months of supply in the detached and attached sector sat at 3.4 and 4.8, respectively.

Investors see opportunities within local housing market

Within the next six months, 26-year-old Calgarian Chad Kanovsky intends to take the plunge and buy as many as four multi-family units as income-producing investment properties.

The commercial real estate associate already has a stock portfolio, and is looking to diversify by adding local real estate.

Yet Kanovsky, who started working in land development as a teenager for his father's company, is adamant he will not be jumping into any "get-rich-quick" investment.

"I'm not looking to make a million dollars in the next year and then go to Mexico," he said.