Calgary Real Estate Blog

The Calgary Herald, whose paywall experiment seems to have gone away, reports today that there’re more houses being sold and bought than you can shake a stick at, despite July traditionally being a slower month, what with the Stampede taking everyone’s time (and speaking of Stampede: bacon-wrapped corn dog. That is all). The Herald uses the word ‘deluge’ to describe the rush of buyers looking to enter the market or move somewhere not described as a flood plain.

I’ve never been one to complain about having too much work, despite it elbowing its way into my personal life more and more (I continued negotiations on two offers during an intermission at Stage West not long ago) and leading to a highly irregular meal schedule, so this is great news for me. I’m still camping with the family (mobile Internet is a beautiful thing for telecommuting from the mountains), still enjoyed some Stampede shenanigans, and still managed to help some great families find great homes. This pace won’t continue forever, so right now I say, “bring it on!”.

There’s been some talk lately about why Calgary’s market isn’t booming like it did in 2006-07, when our employment and population growth is similarly exceptional now. While there may be some truth to self-proclaimed experts’ notions that homebuyers are a bit more cautious than they used to be, and that stricter mortgage rules are proving to be a greater barrier to entry in the market, the fact is that I have more listings right now than I have at any one time in my career, and things show no sign of easing up; I’d better go buy some more key boxes. House prices in Calgary are growing at three times the national average (and our commercial real estate market is performing better than anywhere else in the world). This is the best place to be selling a home in the country (and not only because my dad and I work here).

Of course, enthusiasm must be tempered, both to maintain a little perspective and to add a little variety to newspaper articles. But the fact is we are in a great, enviable position right now with a market that’s growing at a healthy and sustainable pace, and that looks to continue on the same path for the foreseeable future. The bidding wars we were seeing a few years ago aren’t nearly as common, yet houses aren’t sitting on the market for months at a time either; buyers are motivated but not bloodthirsty. This is a good thing. Give me a steady upward march over boom-and-bust craziness any day of the week.

This comes as no surprise for me!  The latest CTV news article, Decrease in listings increases demand for Calgary homes, outlines some of the reasons why this year is proving to be a hot one for real estate sales.  There are nearly 20 percent less home listed compared to the same time last year, which is driving prices upwards and days on market downwards.

As our city sprawls out there is also increasing demand for inner-city property.  The Calgary Herald recent posted an article stating that inner-city neighbourhoods saw an increase of 250-260% between 2000-2012.

If you want to take advantage of this market contact me today!

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