Calgary 2010 Spring Update

Calgary’s residential real estate market is still getting back to normal and many people are lot more at ease today than this time last year.

The Calgary economy is stronger since 2009

World experts agree the Canadian economy has the best banking system on the planet

The future for Calgary Alberta is bright.

Calgary saw a 17.5% price decrease in average price from July of 2007 to April 2009 and remember the average price of Calgary’s real estate doubled from $251,500 in 2003 to $504,000 in 2007. In 2010 Calgary has seen a rebound in the total number of sales compared to 2009 and an increase in average price. The 2010 YTD, (year to date) sales numbers are still not back to normal and it will be of great interest to see what interest rate hikes do to our market. This market is probably going to be a slow and steady climb. Another important note is that 83% of all sales in 2010 so far are under $600,000.

One bright spot has been the increased activity in acreage properties outside the city limits this is encouraging to see the $1,000,000 and above price point gaining some momentum.

The current supply of inventory is average for the Calgary Market and there should be lots of new listings entering the market between now and July. With interest rates on the rise it is prudent to think prices should remain fairly constant.

If you are thinking of buying and or selling you have an increased likelihood of average market conditions, meaning that buyers again are going to determine fair market value and that pricing is critical for your success. Most industry experts cannot agree where this market is going and the projections range from 0% to 4% increase on average for the year 2010.

I have been helping people buy and sell Real Estate since 1986 and still believe in the Calgary and area Real Estate Market. This might be the next great time to be moving across this market or buying a little more Calgary Real Estate. My Team and I are “Locally Known and Globally Connected”. We have a terrific group of Real estate specialists, Lawyers to Home Inspection services, Home Stagers to Painters. Whatever you need we can help. My team and I continue to remain on the leading edge of service and technology to serve our clients best needs.

I look forward to helping in your Real estate pursuits,

Have a great Spring,

Phone # 403.777.1040
E-mail rod@rodforsythe.com

Thank you Rod Forsythe

Tags: Calgary Real Estate