Although it took a few extra weeks for the summer to get here, it was an exciting season in the Calgary real estate market. Year to date, sales were up 11% compared to 2013, and home values increased by nearly 7% across the board.
Many sellers were cautious about making a move earlier this year. There simply weren’t enough listings to choose from and as a result, they were hesitant to put their own home on the market. Inventory was low, competition was fierce, and many buyers were feeling discouraged that they may not find the right home in their price range. Fortunately, Calgary has now entered a much more balanced market. There are more active listings, and the ratio of buyers to sellers is at a comfortable level.
One segment of the market that is on the verge of some significant growth is the condo sector. As home prices continue to increase, first-time buyers and downsizers are looking for a more affordable alternative. There are dozens of new developments being planned around the city, many of which offer trendy downtown locations. The local condo market has captured the attention of investors and developers all across Canada who are scoping out available land for their next exciting project. If you have been considering purchasing an investment property, stay tuned for some fabulous new opportunities in Calgary.
Another by-product of a rapidly growing economy can be found in Calgary’s luxury home market. According to CREB, the number of sales that exceeded the $1 million price point has increased by 20% compared to last year, and there is a growing pool of buyers who are entering the luxury home market. Calgary continues to be one of the most affordable major cities in Canada, and consumers are recognizing the value of investing in a rapidly growing market.
If you are thinking of making a move this year, the timing couldn’t be better. Homes are selling faster than ever, and there are still plenty of great deals to be found around the city. Fall may be in the air, but there is still plenty of time to find your new home before the snow flies!
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/home that reflects where you are in life’s journey! I listen to your needs and have the knowledge and expertise to make this a smooth transition to the right place for you to call home in Calgary.
I have been a Realtor for over 12 years in the changing Calgary real estate market and have enjoyed helping my clients as they move through many of the same stages of life that I, too, have experienced. I am a mother of four (all out of the house and on their own now – Yay!), grandmother of 7 (Yay! again!) and I love to travel. I have my Seniors Real Estate Specialist designation as well as being a Certified Condominium Specialist, ensuring that I have the expertise and resources to help my clients with a smooth transition with the next step in life’s journey. The fact that the majority of my business comes from past clients and/or referrals from satisfied clients speaks volumes about the dedication to the high quality of service that I offer my clients in meeting their Calgary and surrounding area real estate needs.