Real Estate in Alberta, Canada is lucrative, ranked among the top provinces for selling and buying. South of the capital is Calgary, Alberta’s largest city and a major distribution and transportation hub. Tho houses around Alberta are priced higher compared to other areas in Canada, with Calgary coming in as the ninth most expensive real estate market, there is a logical reason for this. Calgary offers its citizens higher paying jobs, a multitude of career opportunities, excellent institutions for learning, and prime luxuries. In 2009 and 2010 Maclean’s ranked Calgary in the top five of Canada’s most cultured cities, and also in 2010 the Economist
ranked Calgary as fifth “most liveable” city in the world.
The Calgary Real Estate Board (CREB) stated sale figures are on the rise for Calgary’s luxury styled condominiums. From early January 2011 till August 2011, condominiums averaging $650,000 and up were being sold. Sales of homes also received a steady hike compared to the 2012 charts. The CREA predicts a higher resale activity in Alberta as sales grew 7.2% in 2011, with current forecasts this year to reach another 6.7%. Even with Canada facing a drop in mortgages, most see Alberta as the beacon for rapid growth and real estate stability coupled with luxury.
"We are seeing a lift in sales at both ends of the market." "Improving economic conditions coupled with affordability and price stability has given Calgary a boost in buyers for upper-end homes and entry level condos."
(Quoted by Sano Stante, previous president of the Calgary Real Estate Board)
The Calgary real estate market concerning condominiums is growing at phenomenal rates, with optimistic predictions of the local real estate market around Alberta, within five to ten years, these properties will most likely be worth a lot more. Investors should take advantage of the Calgary’s real estate, it is the perfect time to look into short term or long term property investments.
CALGARY HOUSING MARKET STATISTICS
WEEKLY CALGARY MARKET STATS UPDATE: August 1-22, 2012
(updated Friday August 24, 2012)
CALGARY METRO HOUSE STATSNew Listings: 1,308 (vs. 1,531 same period 2011)
Sales: 805 (4.3% more than same period 2011)
Sales to New Listing Ratio: 62% (vs. 50% same period 2011)
Sales to Active Listing Ratio: 21% (vs. 16% same period 2011)
Current Listing Inventory: 3,751 (21.9% fewer home listings than same period 2011)
August 2012 month-to-date Average Selling Price:$472,902 (up 4.0% from same period 2011)
2012 Year-to-date Average House Price: $479,395 (up 2.3% from same period 2011)
CALGARY METRO CONDO STATSNew Listings: 562 (vs. 564 same period 2011)
Sales: 368 (16.5% more than same period 2011)
Sales to New Listing Ratio: 57% (vs. 39% same period 2011)
Sales to Active Listing Ratio: 21% (vs. 15% same period 2011)
Current Listing Inventory: 1,748 (16.4% fewer condo listings than same period 2011)
August 2012 month-to date Avg Selling Price: $290,731 (up 2.8% from same period 2011)
2012 Year-to-date Average Condo Price: $294,783 (up 2.4% from same period 2011)