When Real Estate Markets Hit the Road

And by hitting the road we mean traction. Tire screaming, smoke churning, traction. Hot housing markets are always on the radars of serial property investors and one such place is Calgary in Alberta, Canada.

But it wasn’t always the case and in fact just five years ago Calgary suffered a lull in home sales. However come 2018 the area began to see steep gains in sales numbers and subsequently home median values rose parallel to this.

Calgary would also benefit from a lot of positive press with regards to “lifestyle” offerings with living in the region which continues to this day. In fact this article on FreshDaily.ca shows of the Top 10 best cities for families, six of which are Canadian, Calgary sits at #8. Now that’s nothing to shake a stick at and should tell us a bit of why Calgary real estate is on the rise.

Image design by AG Legal

When you really begin to look at why Calgary is increasingly popping up on people’s radars, it doesn’t take long to understand why.

First off the location of Canada’s third largest metropolis is ideal in that it’s chalk full of amenities suited toward those who enjoy outdoor activities. A contributing factor to people living in Calgary to get out more is the fact it is the sunniest city in all of Canada. Even in the winter. Plus being a mere 1 hour to the Rockies and Banff National Park, helps strength the case for Calgary as a great place to live.

Property values throughout Calgary have risen substantially heading in to 2020-21 season. Currently the average home median value sits around $450,248 with average DOM (days on market) at 66 days.

In contrast to “the other” Alberta market of Edmonton, Calgary has various pockets (communities) where real estate values are rising faster than the city-wide range.

One such community is Tuscany. This community boasts some 20,000 residents of which some 20% are immigrants. Houses for sale in Tuscany average $420,000.

Image design by AG Legal

Little known fact is that the majority of immigrants migrating to Alberta end up settling in or around the Calgary region. One wacky fact about Calgary…the caesar drink was first created here.

Another community in the Calgary region with increased real estate activity and demand is Evanston. Situated smack dab in the center of downtown Calgary, this community literally owns the rights to location, location, location. Houses for sale in Evanston range in price between $629k and $764k.

The Calgary housing market overall is quite strong and the trends heading in to 2020 show no signs of slowing. Here are a few facts of the real estate market conditions 2019…

As is common throughout the winter in Canada, the housing market has seen a downtick but is expected to increase as we enter Spring and head to summer, the most active months for real estate. Houses for sale in Calgary range in prices depending on season and other variables including local job rates and economy.

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