The cumulative statistics are coming in as the end of the year nears and the numbers don’t lie. Calgary Real Estate is booming. Of course, we are biased as Calgarians and professionals in the industry. So don’t just
take our word for it. Read on to hear what authority figures have to say.
Calgary is the top-rated market in Canada for overall real estate prospects, keeping the highest ratings for prospects in three categories – investment, development and home building, according to the Emerging Trends in Real Estate report by PwC and the Urban Land Institute.
The figures are the result of a survey of more than 1,000 professionals with expertise in the Real Estate industry including developers, lenders, investors, brokers, property companies, and consultants.
Year-to-date, as of November 1, 2013, the average residential home was on the market for 37 days before selling, according to the president of Calgary Real Estate Board (CREB) Becky Walters. CREB reports that there were more than 2,500 new listings in Calgary last month, which is 9% higher than last year.
“Price growth and tighter market conditions have encouraged some of the recent rise in new listings,” said Ann-Marie Lurie, chief economist. “This is a trend worth noting as the rise is easing some of the tightness in the market. Despite some movement, seller’s market conditions persist.”
As mentioned in our Calgary Real Estate Market Report last month, “If you are planning to list your property this month, be sure to review your competition. A lack of competition could translate into a higher list and sale price!”
Prices in Calgary, for homes tracked by the MLS Home Price Index, increased by 8.17% from last year, a significant surge compared to the national average increase of 3.52%, according to The Canadian Real Estate Association.
Coldwell Banker Complete Real Estate Team members are available to answer your questions about selling your home. Please feel free to contact us. We are a team of professionals with years of experience in the Calgary Real Estate Market and we welcome your inquiries.
