Calgary Real Estate Market Trends
Calgary has continually topped the list among best places to invest in Canada, a trend analysts expect to continue for many years. Since the late 1990s Calgary real estate has led all other property markets in investment return, garnering about 20 per cent annually. In 2006, investment return here hit 38.2 per cent. Whether you're looking for a first home that will appreciate considerably as you pay down your mortgage, or a short-term investment property, Calgary real estate is not to be missed.
Alberta Economy
It's not just Calgary home for sale listings that are performing well, either. Alberta's surging economy has attracted workers from all over the country in the oil and high tech sectors, pushing up demand for all types of property. Calgary is now second in the nation to Toronto for its concentration of corporate head offices, with investment return for downtown property commonly topping 50 per cent. Calgary is also the nation leader for industrial real estate return.
Property Market Trend
Property here is in such high demand, a typical Calgary real estate listing only lasts a few weeks. Many of the hottest properties never even make it to the MLS® before they are sold, as buyers seek to close the deal with as little competition as possible. If you're in the market for a Calgary home for sale, and want a leg up on other buyers, consider working with a qualified Calgary real estate agent - it's a decision that could make you 25-30 per cent more wealthy in a year's time.
Summary of Calgary Housing Statistics for July 2010
- Average Selling Price (SF Home): $464,655 (down 3.6% from last month; up 6.4% from July 2010)
- Average Selling Price (Condo): $291,168 (down 0.4% from last month; up 2.2% from July 2010)
- Average Days on Market (DOM): SF Homes - 45 days, Condos - 51 days (see Calgary Market Stats for details by city quadrant)
- Total combined Calgary Metro sales (houses + condos): 1,311 (down 12.9% from last month; down 43% from July 2009)
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