Calgary Real Estate Market Update
This past summer has been a busy few months in the Calgary real estate market. As the weather warmed up, there was a flood of new inventory that came on the market. According to the Calgary Real Estate Board, new listings were up approximately 18% over the same time last year. Both buyers and sellers were particularly motivated this summer, and steadily increasing home values seemed to influence many people to decide that 2014 was the right year to make a move.
Unlike the first few months of the year that favoured sellers, inventory has increased, and there is a much more balanced market. If you are thinking of making a move in the next few months, you will have more to choose from than you would have at the beginning of the year.
The Calgary condo market is one segment to watch as we finalize 2014. Many new developments are being planned around the city, and buyers who are looking for a more affordable or low-maintenance housing option are strengthening the demand for condos. Many of Calgary's new condo developments are located in highly desirable downtown locations. Our local condo market has also captured the attention of investors all over Canada due to the increasing market rent and low vacancy rates.
Luxury home sales are also on the rise in Calgary. CREB is reporting that sales of homes priced in the $1 million+ range have increased nearly 20% compared to last year. In addition, the average price of a luxury home in Calgary is quickly approaching the $2 million price point. This is yet another positive indication of confident consumers and a large pool of buyers that want to invest their money in Calgary real estate.
As a result of a growing market that has seen several consistent years of positive growth, we are looking forward to the last few months of 2014. The numbers prove something that we have been saying all along - Calgary is an excellent city to live, work and invest.
Are you buying or selling a home in Calgary? Do you want an agent who has the enthusiasm and energy to get things done, with your best interests in mind at all times? Contact me at 403-617-8758, email@example.com or www.kellymacdonald.ca and let's make good things happen!
About Kelly Macdonald
Kelly Macdonald is a Realtor® with The Real Estate Company in Calgary, where she has been living (and loving it!) since she was 10. Kelly offers her clients a unique mix of youthful vigor, creativity and technical and design savvy on one hand, and professionalism and transactional expertise from her business degree and strong administrative background on the other. Kelly is also a devoted wife and mother of two, with whom she finds time from her busy schedule to play scrabble and walk by the beautiful lake of their home in Southeast Calgary.