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Calgary real estate market remains hot; average price of home up to $457,900 – Calgary


After a flurry of house gross sales over the summer time, Calgary’s actual property market was readying itself for a September slowdown.

However the newest numbers from the Calgary Actual Property Board present that gross sales are persevering with to develop yr over yr.

CREB reviews 2,162 residential properties had been offered in September, a rise of 26.7 per cent from this time final yr.

Learn extra:
Calgary’s housing market stages remarkable rebound: ‘It’s like a scene out of Mad Max’

Stock slipped to five,607 properties, a drop of 10.3 per cent, forcing costs to proceed to climb.

The common house worth in Calgary rose to $457,900, which is an 8.6 per cent enhance in comparison with September 2020. The common indifferent house goes for $537,500.

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Justin Havre from RE/MAX First mentioned the numbers present that Calgary stays an lively marketplace for each patrons and sellers.

“The only-family indifferent section continues to stay comparatively sturdy,” mentioned Havre. “And there may be tons and plenty of alternatives within the condo section.”

Learn extra:
Canadian real estate highly vulnerable thanks to price hikes, overvaluations: CMHC

Havre added that he’s seeing a rising curiosity from patrons outdoors of the province, particularly from the Toronto and Vancouver markets.

“One thing like a [detached home] may price twice if not thrice extra in different markets,” mentioned Havre. “So when you have got individuals in Ontario taking a look at Calgary, we’re on sale.”

Shopping for from afar

House owner Agamemnon Spiridoulias and his spouse have been eyeing the Calgary marketplace for some time.

The couple from Burlington, Ont., determined they wished to money in on the record-breaking housing market by promoting their house and shopping for a property in northwest Calgary.

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“We had been wanting on the backside line,” mentioned Spiridoulias. “You actually do get extra bang to your buck right here, and the housing market right here for us positively coming from Burlington is tremendous inexpensive.”

Learn extra:
Calgary housing market takes experts by surprise

Shopping for a home from throughout the nation and desirous to keep away from travelling through the pandemic, Spiridoulias opted to take a look at choices by means of video calls, pictures and digital excursions.

“The primary night time that we acquired out right here [was when we got] the keys and stepped into the place for the very first time,” mentioned Spiridoulias.

Learn extra:
Calgary Real Estate Board predicts COVID-19, decreased demand for oil to hamper housing market

He added that whereas skilled pictures are inclined to exaggerate the scale of rooms, video excursions appear to do the other, under-representing the sq. footage.

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“We went upstairs to our second stage. We had been like that is far more than we’d ever even want,” mentioned Spiridoulias. “In order that was a nice shock.”

The brand new Calgarian mentioned he would advocate the same course of for different patrons taking a look at transferring throughout the nation, so long as you set some floor guidelines together with your realtor.

“Don’t fall in love with each place that you simply’re taking a look at,” mentioned Spiridoulias. “Be sure that [the house] actually ticks the packing containers of the principle issues that you simply’re searching for.”




© 2021 International Information, a division of Corus Leisure Inc.





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