Because I have been selling country and city properties for over 21 years, and have been a Priddis area resident for just as long, I have observed many changes in country living. One recent trend I have watched and discussed with other country realtors is particularly noteworthy and it is the decreasing number of young families moving to the country. Here are my speculations on why this might be so.
- Acreage prices becoming so high that there are very few entry level offerings that younger families can afford.
- Young families being attracted to the rapidly expanding new communities in Calgary with their many amenities and programs for young families.
- Desire for very contemporary, modern designs for their homes which is often available in city communities by trendy builders with reachable prices for young family budgets.
- A growing desire among many younger people for quick access to work, entertainment options, restaurants and amenities in Calgary as well as school considerations
- Proliferation of media and mobile devices consuming more of people’s interest and time to the detriment of living around nature and not wanting to devote the time and energy needed to live an acreage lifestyle.
- The desire for high speed internet and ‘lightning’ download speeds for devices and TV etc. not available in some country areas.
- Desire to be in the downtown “happening” scene, bike to work or use public transit and not rely on cars. (This is true of many now, regardless of age.)
- A large proportion of acreage inventory being older homes offered by baby boomers moving off their acreages which are not as appealing to younger people.
It would seem there is just a general shift away from the country scene right now although there are still those who desire the quiet, privacy and beauty that country living affords. Perhaps this is just a cycle we are experiencing and as our city grows more congested there will be a swing back to the life we current acreage owners cherish.
On the positive side, there is has been a trend upwards in total acreage sales each year since 2009, many involving the middle age population. In fact according to CREB’s latest statistics, total Year to Date Sales for all MD jurisdictions covered by their analysis (with majority in Rockyview & Foothills) the number of sales are up from 748 in 20I3 to 862 this year. 28% of these sales have been over the $1M mark; 20% between $800K to $1M and 13% between $700K to $800K. I feel this can be partly attributed to new builds as there have been a growing number of beautiful houses being built in various parts of Foothills and Springbank areas including many ‘high end’ luxury homes. 70 sales so far this year have been over $1.5M with more of these being in the Springbank area versus Foothills.
Another trend that is interesting is that it seems the W5 area of the Foothills is still slower in sales than the W4 area and certainly much slower than many city areas. The Deerfoot Extension, East leg of the Ring Road and the South Hospital and southeast developments have fuelled a higher concentration of sales in that area. The eventual Ring Road extension West will I suspect balance the scale somewhat.
One last trend I would mention is the number of very large high-end luxury homes being built in estate style developments. The challenge for these owners will be when it comes time to sell if the buyer pool does not keep pace with new property construction. This does not seem to be a problem in many areas of the city itself but it is showing concerning signs in certain areas of the country.
How do These Trends Affect You an Acreage owner?
Well first and foremost enjoy each day on your acreage but always try think and plan for the day you will sell. Maintain and look after you property on an ongoing basis and do something each year to maintain, upgrade or update without going overboard. I will cover this topic and others in a future issues.
I welcome your comments and please feel free to call our team for an evaluation or advice on your property.
© 2017 by Wayne Chaulk, BComm., Realtor