The Cost of a Home Is Relative

Posted by on March 4th, 2015

While some Calgarians shudder to think that the average price of a home has gone up to $534,000 in 2015, they should consider themselves lucky. The average home price for a detached house in Toronto reached the $1 million mark in February. In Toronto, there was a shortage of listings for single detached homes last month, down 8.7%, which led to the higher price gains. Bidding wars for detached housing in Toronto continues due to the housing shortage.

While the Toronto real estate market is seeing these high numbers, purchasing a home in that city isn't as bad as trying to buy one in Vancouver. According to the Demographia International Housing Affordability Survey, the affordability ranking for Vancouver this year is the worst ever in the 11 years…

609 Views, 0 Comments

Easing Demand for Housing Will Bring about Price Stability

Posted by on January 14th, 2015

It's predicted that housing sales in the Calgary area will be easing this year by 4% due to the economic changes and market uncertainty. The Calgary Real Estate Board issued its annual forecast today and it indicates that a 1.58% modest increase in home prices can be expected in 2015.

Price stability and a more balanced market should be seen within the next 12 months. The combination of an easing market and the tight market conditions that were seen in 2014 will lead to this balanced market. It's estimated that 24,503 homes in total will be sold across Calgary in 2015.

The ultimate figures, of course, may be impacted by an extended period of instability in the energy sector, which would affect net migration into the city along with employment…

641 Views, 0 Comments

December 2014 Calgary Real Estate Statistics

Posted by on January 2nd, 2015

December was an interesting month in terms of Calgary real estate sales. As the year came to an end, it was evident that condominiums and townhomes had become a driving force in home sales.

December was the first month in about 2 years where sales decreased on a year-over-year basis. At the same time, however, it was the 35th month in a row that sales price increases were recorded. House prices went up last month by 4.5% to an average of $475,036 while sales went down by 7.5% to 1,083.

Last year was a record-setting year for home prices with the median price reaching $427,000 and the benchmark price going up to $411,417. Last year was also the fourth highest in terms of single-family sales with 17,185 units sold. This was an increase of 5.5% over…

636 Views, 0 Comments

Alberta Sees More Interprovincial Migration than Any Other Canadian Province

Posted by on December 1st, 2014

More and more people are making their way to Alberta from other parts of the country, and many of these new migrants are young people. According to a new report issued by the Fraser Institute, approximately 60,855 young career-age adults moved into Alberta from other provinces from 2003 up to 2012.

The report shows that Alberta is at the top of the list for interprovincial migration followed by the provinces of Saskatchewan and British Columbia. In fact, Alberta, Saskatchewan and British Columbia are the only provinces that saw a gain in this young migration during these years. The other Canadian provinces showed a loss of young people.

Most of the young adults that are flooding into Calgary and Alberta have come for employment opportunities. The…

669 Views, 0 Comments