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January 2015

Found 2 blog entries for January 2015.

Calgary Market Falters as Oil Prices Fall

Oil Price Falls 60%

 In the past 7 months the price of WTI oil has plunged 58%, closing Friday at close to a five-year low of $45.29 US per barrel. The economic consequences of the collapse in oil prices can’t be understated and are bound to cause a shift in the Calgary real estate market, which has experienced a mini-boom for the past 43 months.

It will come as no surprise that Calgary real estate sales have plunged this month. January month-to-date property sales in Calgary are down 36% from the same period last year, while listing inventory in the city is 81% higher than a year ago *January 28th*.

What is a surprise to some is that the price of Calgary homes - to this point - has not plummeted. While the median sale price of

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Kevin O'Leary talks Calgary Real Estate

Kevin O'Leary Calgary Real Estate Forecast 2015 Kevin O'Leary, a Canadian entrepreneur perhaps most famous as a Shark on ABC's Shark Tank and CBC's Dragons' Den was in Calgary earlier this week for an appearance as the keynote speaker at the Calgary Real Estate Board's 2015 Forecast Breakfast.

Kevin took some time to speak with CREB's Kelsey Hipkin about the impact the volitility of oil prices is having on the real estate market in Calgary, and Kevin was remarkably candid.

His comments may even surprise some of you

 

Kevin O'Leary Interview: Calgary Prices

Kelsey Hipkin, CREB®: What are your thoughts on the oil price drop? [3:55 of video]

Kevin O'Leary: This is a very interesting time in Calgary, and in Alberta. For not only domestic buyers

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