The Calgary real estate market, including it's surrounding towns & cities - Okotoks, Airdrie, Cochrane - is holding strong and boasting record numbers coming off of 2012. The coming year is likely to bring nothing but bounty to our city and outlying areas with many economic factors showing positive and promising increases.
The Calgary Herald is reporting that many real estate companies like RE/MAX, Royal LePage and others are expecting Calgary house prices will increase 2.5% this year, which would mean an increased of $10,000 on a $400K home.
Todd Hirsch, senior economist with ATB Financial, said Calgary continues to buck the national downward trend in real estate. “Given the high level of incomes, the low borrowing costs, and strong in-migration, the market is likely to remain in balance in 2013,” he said. “There has been no evidence of price bubbles building - and with some moderation in Alberta’s economy in 2013, real estate prices should continue to make steady, healthy gains.”
Average Calgary house price of $428,655 in 2012 - a new record! Not only had there been more people buying homes coupled with the supply of homes coming down slightly there was also a record number of luxury / high priced homes purcahsed, which tows the average up!
What does this mean for the average home buyer? If you have been considering buying or making a move, now is the time to do so in the interest of saving what could be $10,000 if you wait another year!
There are so many factors that contribute to buying or selling real estate, including borrowing costs, lifestyle, your current employment situation and more - if all the dots connect - contact our RE/MAX real estate team for the BEST service!!! We specialize in Calgary & Okotoks real estate deasl!