For anyone concerned about the health of the real estate market in Calgary, the steady increase in sales of single family residences will be welcome news. While the numbers of Calgary home sales have not recovered to the 10 year average rates, experts are optimistic that the local market is continuing to strengthen.
The combination of well-priced homes hitting the market, along with a steady supply of interested buyers has increased home sales by 5% over last year. While the number of sales has been slowly but steadily increasing, home prices have remained fairly stable at reasonable levels that have encouraged potential home buyers to take the plunge.
For homeowners looking for something affordable, there are many Northwest Calgary homes for sale that are priced well below the $12 million French castle that has seen so much coverage lately. Single family homes in the city are priced at an average of about $500,000 and condos average at just over half of that amount.
Of course, with the recent debt downgrade south of the border, it is difficult to say how the markets in Canada will be affected in the next few months and beyond. Only time will tell how far the fallout from that situation will spread into aspect of the Canadian economy.