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About Amar – Calgary Realtor

Fluent in: English, Tagalog, Punjabi, Hindi, Urdu

My commitment as your local REALTOR® is to provide you with the specialized real estate service you deserve. Whether buying or selling, I invite you to contact me with any questions that you may have. My promise to you is that your experience will be both stress-free and enjoyable.

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All Listings - Calgary Real Estate

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Courtesy Of
Dusko Sremac Of RE/MAX FIRST

$260,000 - 834 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4287927

Looking to live in one of Calgary's BEST neighbourhoods, steps away from the lake, amenities, public transit, South Health Campus, 52 Street and Stoney Trail? Look no further and welcome to your new Mahogany Home! Located on the 3rd level which allows views of Mahogany Lake from your unit! This 2 bedroom 2 Bathroom condo has been upgraded! With Brand…
Active

Courtesy Of
Marc Stokes Of CIR REALTY

$625,000 - 2503 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4287924

LOCATION and SIZE await you with this attractive and LARGE Jayman built home. Backing on to lake access, and a stones throw away from Lake Mahogany and Beach Club. You're sure to find tranquility with no rear neighbours and over 2500 sqft in this 3 bedroom home. As you enter you'll notice it's SPACE immediately and cozy, yet OPEN feel.…
Active

Courtesy Of
Kimberly Vink Of RE/MAX FIRST

$259,900 - 986 Sq.Ft

Beds
3
Baths
2.00

ACTIVE

Row House

MLS® #C4287923

This incredible gently lived in end unit is as good as new. This is not just buying a home, this is buying a lifestyle. As you enter the community you will notice the generous amount of green space including a community garden & gazebo. This home has a spacious attached single garage & parking on the driveway. When summer arrives…
Active

Courtesy Of
David D Fatemi Of URBAN-REALTY.ca

$599,900 - 2445 Sq.Ft

Beds
6
Baths
3.10

ACTIVE

Detached

MLS® #C4287932

Welcome to this well kept and beautifully designed 6 BED 3.5 BATH with over 3340 SF living space home located in desirable community of Redstone. You will find an amazing the roomy foyer of the home as you walk through Right in front is the DEN opposite the 2pc bath on this level. Just ahead you find the kitchen and…
Active

Courtesy Of
Cathie Queen Of CIR REALTY

$685,900 - 1248 Sq.Ft

Beds
2
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4287936

Gorgeous villa bungalow with NO CONDO FEES Wow!! It doesn't get much more upgraded than this! This bungalow has a gracious flowing open floor plan. Bright and spacious kitchen with restaurant quality appliances full size fridge and full size freezer, quality gas range, an abundance of cabinetry situated around the large island, top of the line quartz countertops. Spacious Lvg…
Active

Courtesy Of
Morris Tkachuk Of 2% REALTY

$299,900 - 1298 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4287934

Fantastic opportunity to get into the market with this Gorgeous 3 + 1 bedroom, 2.5 bath (+ 1 down) with over 1800 developed SF including the newly developed basement, & it's only attached at the 24x22 garage for peaceful enjoyment. This bright & open plan has just been freshly painted & is ready for a new family to enjoy. Main…
Active

Courtesy Of
Ravi Duhra Of MY MOVE REALTY

$382,500 - 1221 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Detached

MLS® #C4287933

For more info click Multimedia - Captivating Bi-Level Home with OUTDOOR OASIS! Relax & Enjoy 4 Bedrooms, 3 Baths, 1,221.3 sq.ft A.G. Living Space, Kitchen w/ Granite, Completed Lower Level w/ Family Room, 2 Gas Fireplaces, SUNROOM, Fully Fenced Landscaped Yard, Mature Trees, Pond, RV Parking, Heated Doubled Attached Garage & MORE! - For more info click Multimedia
Active

Courtesy Of
Amar Cudail Of RE/MAX REAL ESTATE (CENTRAL)

$269,900 - 1085 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4287942

TO Follow
Active

Courtesy Of
Duke Nguyen Of HOPE STREET REAL ESTATE CORP.

$599,000 - 2237 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4287939

Welcome Home!! SPECTACULAR VALLEY & GOLF COURSE VIEWS! EXECUTIVE WALKOUT HOME - CARDEL BUILT, south facing and backs onto side easement to GOLF COURSE! TOTALLY UPGRADED THROUGHOUT with attention to detail! Main floor features 9 ft ceilings, mud rm with bench seating, 1/2 bath, and a den. CHEFS KITCHEN open to spacious living room & dining area that will fit…
Active

Courtesy Of
Kaylie Cole Of PURPLEBRICKS

$480,000 - 1600 Sq.Ft

Beds
3
Baths
1.10

ACTIVE

Detached

MLS® #C4287937

Enjoy the serenity of the country just outside of Calgary. This 2 storey home is one of a kind! Situated on 4 acres of land with mountain views. Open concept living area includes a spacious living room, newer renovated kitchen and dining area with patio doors to the front deck. Also on the main floor find a down that would…
Active

Courtesy Of
Jacqueline Troughton Of RE/MAX REAL ESTATE (CENTRAL)

$364,900 - 1284 Sq.Ft

Beds
2
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4286236

VIEWS!!! of downtown Skyline and Rocky Mountains, This executive inner city home is sure to impress! Professionally upgraded custom kitchen has been designed with exquisite style and superior quality. The full-height cabinetry features soft close cabinets & granite counters are highlighted by under-counter lighting. Adjacent nook is perfect or casual dining, while the formal dining area boasts city views. Soaring…
Active

Courtesy Of
Lisa M Power Of PREMIERE REALTY DIRECT

$162,900 - 861 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4285250

Amazing price! Beautiful renovated unit in quiet residential area close to downtown. With brand new kitchen and bath installations, this beautiful 2BR gleams! All new appliances; LG dishwasher and convection oven, trendy euro Haier refrigerator. Quartz countertops. South exposure, lots of light, new honeycomb blinds (not shown in photos). Elegant soft gray decor. Incredible value. Tons of storage: insuite storage…
Active

Courtesy Of
Sunny Banipal Of RE/MAX REAL ESTATE (MOUNTAIN VIEW)

$1,045,000 - 1127 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Detached

MLS® #C4287945

Location! Location! Location! 20-acre parcel only 5km from Calgary city limits. Close to all city amenities and Stoney Trail 3km away. Offering a Bi-level with many upgrades over the years. Featuring over 2100 SQ. FT of living space, large country kitchen with oak cabinets and ceramic floors, formal dining room with garden doors to a large east facing deck and…
Active

Courtesy Of
Mike Star Of CIR REALTY

$679,900 - 1078 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Detached

MLS® #C4287949

WOW! Fully RENO'd with high-end finishing! Big bright windows with ample amounts of natural light, this fully finished gorgeously renovated home is situated on a 50x110 lot with a HUGE South Backing yard with an oversized double garage and room to park your RV! Ideally located across the field of the Ethel M. Johnson Elementary and a short walk to…
Active

Courtesy Of
Joshua C Thomas Of CIR REALTY

$69,900

Beds
0
Baths
0.00

ACTIVE

Not specified

MLS® #C4287947

WOW! RARE - Beautiful LOT in Irricana. Approximately 16.7-meter frontage, located on Madison Drive in the quiet town of Irricana. The driveway is blacktopped. All services at the front of the property. Seldom does a lot this size come up in Irricana. Great community located less than 20 minutes to Airdrie and 25 to the Airport. Easy commute. There is…


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Changes to the mortgage stress test

Changes to the mortgage stress test

Ottawa, ON, February 18, 2020 – Earlier today, Minister of Finance Bill Morneau announced changes to the mortgage stress test.

The new benchmark rate used to determine the minimum qualifying rate for insured mortgages, coming into effect on April 6, 2020, will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance applications, plus 2 per cent.

Recently, the gap between the Bank of Canada’s five-year benchmark rate and borrowers’ actual contract rates has been widening, suggesting the benchmark rate has become less responsive to changes in the market.

In October 2016, Finance Canada introduced a stress test for insured mortgages. In 2017, the Office of the Superintendent of Financial Institutions (OSFI) issued an update to Guideline B-20, requiring uninsured mortgages to be stress-tested as of January 2018. CREA data indicates that per capita sales activity for residential units in 2018 reached its lowest point since 2001, with 2019’s final sales total tied for second-worst.

“REALTORS® have advocated for changes to the stress test on behalf of potential homeowners who have been sidelined, borrowers who have moved away from the regulated market to less-regulated options, and real estate markets across the country in need of relief,” said Jason Stephen, President of The Canadian Real Estate Association. “We are pleased the government has taken steps to address some of these issues in Canadian housing markets.”

In response to the impacts of the stress test, CREA has recommended:

  • reviewing the mortgage stress test to ensure the realities of local real estate markets are taken into consideration; and
  • allowing existing mortgage holders to be exempted from the stress test at the time of renewal.

CREA welcomes today’s announcement and acknowledges government’s efforts to help Canadians achieve their housing needs through policy reflective of market conditions.

CREA CEO Michael Bourque said “Today’s announcement introduces a more dynamic measure to act as a minimum qualifying rate. The Bank of Canada’s weekly median 5-year fixed insured mortgage rate plus 200 basis points will be more responsive.”

CREA will be providing input as OSFI considers the same benchmark rate for uninsured mortgages and will continue advocating for policy solutions that make it easier for Canadians to find a home that is right for them.

For more information, please contact:
Pierre Leduc, 
Media Relations
pleduc@crea.ca
The Canadian Real Estate Association
200 Catherine Street, 6th Floor    Ottawa, ON K2P 2K9
Tel: +1 (613) 237-7111

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Canadian home sales down in January

Canadian home sales down in January

Ottawa, ON, February 14, 2020 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales declined between December 2019 and January 2020.

Highlights:

  • National home sales fell by 2.9% on a month-over-month (m-o-m) basis in January.
  • Actual (not seasonally adjusted) activity was up 11.5% year-over-year (y-o-y).
  • The number of newly listed properties was little changed (+0.2%) m-o-m.
  • The MLS® Home Price Index (HPI) advanced by 0.8% m-o-m and 4.7% y-o-y.
  • The actual (not seasonally adjusted) national average sale price climbed 11.2% y-o-y.

Home sales recorded over Canadian MLS® Systems declined by 2.9% in January 2020, although they remain among the stronger monthly readings of the last few years. (Chart A)

Transactions were down in a little over half of all local markets in January, with the national result most impacted by a slowdown of more than 18% in the Lower Mainland of British Columbia. While there were few notable gains in January, it should be noted that many of the weaker results have come alongside a shortage of new supply in markets where inventories are already very tight.

Actual (not seasonally adjusted) sales activity was still up 11.5% compared to January 2019, marking the best sales figures for the month in 12 years. Transactions surpassed year-ago levels in about two-thirds of all local markets, including most of the largest urban markets. As mentioned, some of the larger markets where sales were down, such as Ottawa and Windsor-Essex, are currently among some of the tightest supplied markets in Canada.

“Home price growth continues to pick up in housing markets where listings are in short supply, particularly in Southern, Central and Eastern Ontario,” said Jason Stephen, president of CREA. “Meanwhile, ample supply across the Prairies and in Newfoundland and Labrador is resulting in ongoing competition among sellers. All real estate is local, and nobody knows that better than a professional REALTOR®, your best source for information and guidance when negotiating the sale or purchase of a home,” said Stephen.

“Looking at local market trends across the country, one thing that stands out in markets with historically tight supply is a larger than normal drop in new listings at this time of the year,” said Shaun Cathcart, CREA’s Senior Economist. “The logic being that if you are a seller, you’re not just choosing when to list but effectively when to sell, so why not hold off until the spring when the weather is better, and more buyers are looking? Deferred listings mean deferred sales, which could explain some of January’s decline in activity. The question going forward is how many sellers are out there waiting to list their property, how much demand will respond, and how that will impact prices later this year.”

The number of newly listed homes was little changed in January, edging up a slight 0.2% on the heels of a series of declines which have left new listings at a near decade low. January’s small m-o-m change came as the result of declines in a number of larger markets, including Calgary, Edmonton and Montreal, which were offset by gains in the York and Durham Regions of the Greater Toronto Area (GTA) where new supply bounced back at the start of 2020 following a sharp slowdown towards the end of last year.

With sales down and new listings up slightly in January, the national sales-to-new listings ratio fell back to 65.1% compared to 67.2% posted in December 2019. Even so, the long-term average for this measure of housing market balance is 53.8%. It has been significantly above that long-term average for the last four months. Barring an unforeseen change in recent trends between the balance of supply and demand for homes, price gains appear poised to accelerate in 2020.

Considering the degree and duration to which market balance readings are above or below their long-term averages is the best way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, close to two-thirds of all local markets were in balanced market territory in January 2020. Apart from a few areas of Alberta and Saskatchewan, the remainder were all favouring sellers.

The number of months of inventory is another important measure of the balance between sales and the supply of listings. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

There were 4.2 months of inventory on a national basis at the end of January 2020 – the same as in November and December and the lowest level since the summer of 2007. This measure of market balance is now a full month below its long-term average of 5.2 months. While still just within balanced market territory, its current reading suggests that sales negotiations are becoming increasingly tilted in favour of sellers.

National measures of market balance continue to mask significant and increasing regional variations. The number of months of inventory has swollen far beyond long-term averages in the Prairie provinces

and Newfoundland & Labrador, giving homebuyers ample choice in these regions. By contrast, the measure is running well below long-term averages in Ontario, Quebec and the Maritime provinces, resulting in increased competition among buyers for listings and providing fertile ground for price gains. The measure is still in balanced market territory in British Columbia.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.8% in January 2020 compared to December, marking its eighth consecutive monthly gain. It is now up 5.5% from last year’s lowest point in May and has set new records in each of the past six months. (Chart B)

The MLS® HPI in January was up from the previous month in 14 of the 18 markets tracked by the index. (Table 1)

Home price trends have generally been stabilizing in most Prairie markets in recent months following lengthy declines. Meanwhile, prices are clearly on the rise again in British Columbia and in Ontario’s Greater Golden Horseshoe (GGH). Further east, price growth in Ottawa, Montreal and Moncton continues as it has for some time now, with Montreal and particularly Ottawa having strengthened noticeably in recent months.

Comparing home prices to year-ago levels yields considerable variations across the country, although for the most part trends are still regionally split along east/west lines, with rising gains from Ontario east, and a mixed bag of smaller gains and declines in B.C. and the Prairies.

The actual (not seasonally adjusted) Aggregate Composite MLS® (HPI) rose 4.7% y-o-y in January, the biggest year-over-year gain since February 2018.

Home prices in Greater Vancouver (-1.2%) remain slightly below year-ago levels, but declines are still shrinking. Meanwhile, January saw prices back in positive y-o-y territory in the Fraser Valley (+0.3%). Elsewhere in British Columbia, home prices logged y-o-y increases in the Okanagan Valley (+3.5%), Victoria (+3.4%) and elsewhere on Vancouver Island (+4%).

Calgary, Edmonton and Saskatoon continued to post small y-o-y price declines, while the y-o-y gap has now widened to -6.9% in Regina.

In Ontario, home price growth has re-accelerated across most of the GGH, with a number of markets getting close to double digits. Meanwhile, price gains in recent years have continued uninterrupted in Ottawa (+13.7%), Montreal (+9.8%) and Moncton (+6.4%).

All benchmark home categories tracked by the index accelerated further into positive territory on a y-o-y basis, with similar sized gains among the different property types.

Apartment unit prices posted the biggest y-o-y increase (+5%) followed closely by two-storey single family homes (+4.8%), one-storey single-family homes (+4.4%) and townhouse/row units (+4.2%).

The MLS® HPI provides the best way to gauge price trends, because averages are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in January 2020 was around $504,350, up 11.2% from the same month the previous year. This was the largest increase since mid-2016.

The national average price is heavily influenced by sales in the GVA and GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts close to $110,000 from the national average price, trimming it to around $395,000.

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry associations, representing more than 130,000 REALTORS® working through 90 real estate boards and associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca

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CREA’s Chief Economist, Gregory Klump, retires after 28 years

CREA’s Chief Economist, Gregory Klump, retires after 28 years

Ottawa, ON, February 11, 2020 –  Gregory Klump, CREA’s Chief Economist, has retired from The Canadian Real Estate Association after 28 years.

Greg Klump

Klump joined CREA in 1992, serving as staff economist for the Association. Promoted to Chief Economist in 2005, he grew CREA’s economic and data team into an authoritative source of Canadian real estate data and market analysis.

Klump was instrumental in the development of the MLS® Home Price Index (MLS HPI®). He was a member of CMHC’s National Housing Research Committee as well as a contributor to the Economic Research Committee of the Canadian Home Builders Association.

CREA wishes Gregory Klump all the best in his future endeavors.

– 30 –

About The Canadian Real Estate Association
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry associations. CREA works on behalf of more than 130,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca­

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