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Calgary Real Estate Update - October 2012

Posted by John Mayberry on Sunday, October 14th, 2012 at 1:11pm.

October Sales Much Better than Last Year

Sales up, new listings down. So far in October, sales have increased by 20% over sales in the same period during October 2011. New listings in contrast have dropped slightly. The average sold price during the first part of October rose 5% over that same time period in October 2011. That’s a rise of $20,000.  However, total sales for October will likely be down from last month.

Sales of single detached homes were up more 14% from the same period during October 2011, and the average price rose by 5%.

Sales of condos so far in October similarly are up by 14% from the same period in October of 2011. New listings appear to be down from last month. 

With fewer detached homes and condos on the market, and with demand staying strong, it’s a great time to list your home. There are still plenty of buyers on the market. Give me a call to discuss what’s available on the market and ask me your questions about how plan for selling your home and move up to a better home.

The Calgary Real Estate Board has painted a promising picture of the Calgary market. The key economic fundamentals look very good and if you’re still renting or looking to find your dream home, this is a good time to get started. Calgary’s unemployment rate is falling, wages are increasing, and full time job growth is excellent.

Prices are trending higher and 2013 is expected to be a strong year. Getting a jump start before the market takes off is just wise if you’re looking for a few extra thousand dollars. There are many reasons why fall and even winter are the best time to buy property.  And if you intend to sell, you’ll want my help in getting your home exposed to more buyers.

Luxury Homes

There are more than 600 million dollar properties for sale in the Calgary region and 390+ within the city of Calgary. 20 years ago, there were only a few sales of 1 million dollar+ homes and 2011, there were 448 million dollar luxury homes sold. The city has grown to more than 1.1 million people and it's growth continues. No one expects a correction or housing bubble to burst at present. The Calgary market has astonishing potential. Even during the downturn, the luxury market still did well. There is an excellent selection, and all you need is an experienced, professional agent to help you find the best available properties and perhaps act as your buyer's agent.

Contact me about available Calgary luxury homes in Pump Hill, Mount Royal, Windsor Park, Wildwood, The Hamptons, Hillhurst, Mount Pleasant, St Andrews Heights, Cougar Ridge, Valley Ridge, or Rocky Ridge. Calgary’s luxury homes represent the best opportunity for real estate investors. Search for MLS listed million dollar+ properties now. The potential appreciation on luxury homes in an oil rich city is immense. Contact me about what you’d like to achieve and which properties to watch for you.

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