Calgary Real Estate Blog

So our economy is turning around as expected in 2017, with the Conference Board of Canada forecasting Alberta to lead the country in economic growth for the year. Oil prices have stabilized, and flowing infrastructure money is helping to create jobs, as is a lowered small business tax rate. All of that adds up to a little more consumer confidence, a little less financial nervousness, and maybe fewer homes on the market.

While Calgary’s real estate landscape never really became over saturated, we did see a large uptick in the numbers as financial realities led owners to downsize. That impetus is waning. Still, it will likely take a couple of years before higher end properties become as sought after as they were a few years ago; the sweet spot is really right around the $430,000-$500,000 mark for quick sales at or near asking price. According to the Calgary Real Estate Board, the communities that had the most sales last year were Tuscany, Evanston, New Brighton, Copperfield, Coventry Hills, Cranston, Auburn Bay, and Evergreen: all of which have plenty of inventory in that mid-range pricing category for detached single family homes.

So, If you’re looking at making an upwards move, now’s a good time to start strategizing. Pricing is stable overall, but if there’s any softness it’s going to be in the higher priced homes. Put a little work into staging your average sized property and making it present at its best, and while we’re not in bidding war territory yet, you’re likely to get a very respectable return. Spring is right around the corner, and is the time of year many people start thinking about making a move, so now’s the time to start preparing if you’re considering a jump into the sales market. I am well experienced in making this kind of upward move, and would be happy to help you formulate a plan – contact me today to get started!

I’m often writing/bragging about how well the real estate market is doing locally, and with good reason: it’s on fire like we haven’t seen in eight years. But it’s encouraging to hear some good news coming in from around the country, especially major markets like Vancouver and Toronto.

The Conference Board of Canada predicted today that the condo market is unlikely to plummet, even in Toronto where there has recently been concern about an abundance of new multi-family dwellings being built. While things may cool a bit, especially if interest rates rise, the Conference Board concluded that banks were doing a good job of keeping construction from getting out of control by virtue of construction loans being contingent on pre-sale thresholds, and growing populations in metropolitan areas will continue to be on the lookout for condos.

And the Canadian Real Estate Association is talking about Vancouver’s market growing nearly ten percent year-over-year for July, while Toronto’s up almost thirteen percent.

So, while we’re leading the charge thanks to generous incomes and a growing population, ours isn’t the only city with busy Realtors. I love good news.