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Good News For The Spring Calgary Real Estate Market

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By : Crystal Tost    99 or more times read
Conflicting opinions are at the forefront currently for the Calgary real estate market. Experts seem to be in contradiction of each other and leaning in all directions. Some economists recently predicted yet another 20% decline in the Canadian real estate market, but just how does this all affect the western prairie cow town oil booming city of Calgary? While it is true that we can expect Alberta and specifically Calgary to fair much better than the rest of Canada with its strong job growth, in-migrations due to the energy sector and the increase of demand for food, fuel, fertilizer and forestry. While some parts of Canada will no doubt continue to see an uncertain real estate future, Calgary is well positioned for a recovery.

Some experts (Don Campbell - president of the Real Estate Investment Network or also known as REIN) believe that Calgary will see modest growth over the next two years of 5% to 7% each year over the next two years and a possibility to be back in a sellers market within the next two to three years.

According to the Calgary Real Estate Board (CREB)In the first quarter of 2011 we have seen an increase of real estate sales in single- family homes up almost 4% to 3,309 units sold. The average price was also up by almost 1% in the same time period to $460,315.

The Calgary condo market sales in the first quart actually dropped about 11% and the average sale price was down by almost 1% compared to the same period in 2010.

The decrease in single-family home sales could be a result from single-family homes being a bit more affordable since the past decline in the prices which has occurred during the market correction in the past 2 to 3 years. Would be condo buyers now have a choice to get into a single family home rather than a condo. Home ownership is more affordable than in the recent past and once again is attracting prospective buyers into home ownership.

It would appear that first time home buyers are currently driving the Calgary market with a majority of sales being under $400,000 in the single family home sector.

The Calgary real estate market is seeing a balanced and more stabilized market.
With low interest rates, decently balanced low real estate prices, a decent selection of property for buyers, and a recovering economy the time might be upon you to get into home ownership.
Calgary Realtor® Crystal Tost specializes in residential real estate. If you are interested in further Calgary Real Estate Market or Market Information then visit our website for all your Calgary Real Estate requirements.

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