Last year was an exciting time for the Calgary real estate market. Prices rose, demand was high and sellers enjoyed plenty of competition once their homes hit the market. Calgary's growth made headlines across the country and many outside investors staked their claim in our city's steady growth. Sales increased nearly 10% compared to 2013 and the average price rose by 5.8%.
Increasing values inspired those who were considering a move to start looking sooner than later. The same will hold true for 2015. Relative to the other large urban cities in Canada, Calgary's cost of living and real estate prices are still quite low. It's safe to say that values have a long way to go before they reach their plateau. Fortunately, available inventory is in a much healthier supply than it was this time last year. Buyers have a little more to choose from, and may be less likely to find themselves in competition over and over again.
Whether you are employed in Calgary's oil industry or not, the recent headlines of the decreasing price of fuel has captured everyone's attention. If prices continue to decline, economists are predicting a slowdown in the Calgary real estate market. What will this mean for consumers? It's too soon to tell at this point, but it's important to remember that Calgary's economy is leveraged in several other major industries which continue to demonstrate positive growth.
If you are thinking of making a move this year, you are in a great position to capitalize on what might be the last of the Bank of Canada's ultra low interest rates. The finance minister hasn't said anything yet, but analysts are predicting that 2015 will be the year that we see a slight uptick in mortgage lending rates. If you plan on buying a home, speak to a mortgage professional about getting a pre-approval in place. Your lender may be able to provide you with a rate hold for up to 120 days in case the rates go up before you buy.
Do you need to move to celebrate the changes that are happening in your life? Let me serve you in helping you make the move to the place or home that reflects where you are in life’s journey! I will listen to your needs and use my knowledge and expertise to make this a smooth transition to the right place for you to call home in Calgary. Contact me at 403-708-5873, firstname.lastname@example.org, or www.allisonjames.com and let’s get on with your journey!
About Allison James
Allison James has been a realtor® since 1999 with Century 21 Bamber Realty Ltd. in the changing Calgary real estate market. A Century 21 Centurion Award 2007 recipient and a member of CREA and AREA, she specializes in residential real estate and has her designations as a Seniors Real Estate Specialist and a Certified Condominium Specialist. These designations testify that she has the expertise and resources to help her clients make a smooth transition to the next step in their life journey. She enjoys helping her clients as they move through many of the same stages of life that she, too, has experienced. The fact that the majority of her business comes from past clients and/or referrals from satisfied clients speaks volumes about her dedication to the high quality of service that she offers her clients to meet their Calgary and surrounding area real estate needs. She is a mother of four who are all on their own now, and a grandmother of eight. Besides helping people buy or sell real estate, she loves spending time with her family, being active outdoors, traveling and meeting new people, photography, playing the drums, reading, scuba diving, listening to music, learning new things, and nurturing her spiritual growth.