A spread of properties going up for grabs can convince house buyers to seek out a professional Calgary Realtor® to discuss their purchase options. Jeff Lewis of the Globe and Mail writes:
Calgary’s tight housing inventory is starting to ease as more properties hit the market. But realtors say high prices for single-family homes continue to push more buyers into condos.
“Listings are going up so the market should be moving into more balanced conditions, and in particular we’re seeing fairly strong activity in the condo sectors versus what we’re seeing in the single family,” said Ann-Marie Lurie, chief economist at the Calgary Real Estate Board (CREB).
A flood of migration and a tight rental market has stoked home prices in the southern Alberta city, prompting concerns over high levels of household debt as consumers borrow heavily to finance purchases.
Lewis cites CREB data for July 2014 stating that a single-family home’s median price rose 10.8% year-on-year to $511,600. An economist from a major finance company claims that higher construction expenses in Calgary were helping drive up the final cost of a property.
He further cited preliminary CREB year-on-year data for August 2014 as saying that new listings rose 14.7% to 2,666, and total sales going up 6.77% to 1,892. Lurie said the numbers hint of a “seasonal pullback” from stronger sales in July 2014.
The data above should be useful for those considering moving to Calgary in the near future. The city, after all, is already among the most prosperous places in Canada, with businesses from several industries having HQs in the area, and the people are powered by a strong community ethos, making it easier for new residents to feel at home. If you are settling deep into the inner city and want a place to start your new life, a property agent like Christine Ordze can aid you in the endeavour.
You will have to talk to your agent about any listings within your price range to firmly narrow down the pool of prospect places, then arrange for appropriate financing options. A chance to start over in a new city like Calgary shouldn’t have to be difficult, especially when you have eyes and ears on the ground to guide you in. It will be worth it in the long run.
(Source: Surge of new listings eases Calgary’s housing market, The Globe and Mail, 14 August 2014)