Happy, September 2020!
The market has been moving with many saying it’s hot! With record sales across Canada in July, and residential sales in August remaining relatively stable compared to last year, home prices are expected to remain steady throughout summer and into the fall! This is great news!!
What is causing this trend? From a recent article published by RE/MAX “Since June, first-time homebuyers in the region have been more active as there are no advantages in waiting for prices to fall. Higher end properties in Calgary are beginning to sell faster due to falling prices, and acreages in small towns are beginning to see more interest from local buyers. A 3% increase is expected in Calgary, Alberta for the remainder of the year.”
Further to this, Condominiums and two-story detached homes are the most popular properties in Calgary while Coventry Hills, Evergreen and Northeast Calgary are expected to be the hottest markets of next year because of their affordability. First-time and move-up buyers are expected to drive demand in 2020, with more first-timers entering into the market compared to past years, due to the city’s overall younger population compared to the rest of Canada.
Click on the buttons below to access the full CREB stats package for each area:
Please reach out with any questions you have, I’m here and happy to help however I can!
“Education is the most powerful weapon which you can use to change the world.” – Nelson Mandela
Cheers From your Real Estate Advisor and Friend,