Current Real Estate Trends In Calgary Alberta
Calgary has been one of the best places to live in Canada for years, even decades. For this reason, it can prove to be highly valuable to study Calgary real estate trends. In fact, if you are planning to move to this extraordinary Canadian city in the near future, you will definitely want to study up on some of the current trends in Calgary real estate.
When it comes to buying a home in a general sense, it’s important to remember that knowledge is power. The more you know about real estate trends in Calgary real estate, the easier it’s going to be to find an amazing place to live in your price range.
New Calgary, Alberta Real Estate Trends
Home to just a little over one-million people, Calgary AB has benefited from a usaully strong economy that has focused keenly on oil and gas. The city also enjoys a particularly robust tourist trade. Furthermore, the Calgary real estate market has proven itself to be one of the most durable real estate markets in North American. Even when the housing crisis hit a few years ago, Calgary real estate trends largely focused on endurance, strength, and even growth. As the economy has taken a turn for the worse in recent years, the real estate market in Calgary is still pretty good. There is really no better time than the present to take advantage of Calgary real estate.
There are several trends in real estate for Calgary that are worth noting:
- Median detached home sale prices are hovering at around 467, 500, which is down 0.5%.
- Average detached house sale prices are up about 2.5%, holding at 539, 733.
- Apartment sale prices are currently somewhere in the neighborhood of 268, 000.
- Average apartment sale prices are a little over three hundred thousand dollars.
- Someone who is planning to sell their home in Calgary can expect a pretty fast turnaround. One of the most important elements to Calgary real estate trends that you are going to want to keep in mind is the DOM rate. In Calgary, a homeowner can expect to make a sale in approximately thirty-eight days or less.
- The absorption rate for detached Calgary houses is around twenty-three percent. This figure is actually down from last year.
While the Calgary real estate market is certainly prone to sluggishness from time to time, you can very likely count on the market being a strong one, regardless of when you explore the possibility of buying or selling.
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