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Is the Calgary Real Estate Market Set for a Slowdown? Maxwell Realtors, Calgary Answer
Is the Calgary Real Estate Market Set for a Slowdown? Maxwell Realtors, Calgary Answer
Purchase of residential land has slowed down tremendously claim leading newspapers. Is the Calgary realty market set to decelerate, or are they simply scaremongering? Calgary’s leading real estate company, Maxwell Capital Realty answers.
Calgary,
Alberta,
Canada
(sardnews.org)
11/11/2014
A report in a leading newspaper indicated that sale of residential land was down by 52% in the first half of 2013. This trend is believed to continue in 2014 as well thanks to the high property rates. In fact, Calgary is reported to have become one of the most expensive places to buy a house.
"It is true that the average house price in Calgary is slowly inching towards half a million. But the market keeps on changing constantly, sometimes even on a weekly basis. There's a strong rumour of this being a seller's market. But to be honest, not all homes can be placed in the same category and not all homes are flying 'off the shelf'," says a spokesperson for the realty company. The market in Calgary is area specific; thus some places are stronger that the other.
Indeed, 2014 is not likely to be as hot as the last year, but we have to remember that the 2013 sales was due to several factors including the floods (this saw many people looking for property in higher areas), influx of new comers, the rental market, etc. Such factors cannot be pre-decided. But higher GDP (the growth rate is predicted at 3.4% for 2014), better employment opportunities, migration (the salaries are much higher here than other parts of Canada), and other factors point towards a favorable real estate growth this year.
"Even if the average home price increases to about half a million, they would still remain affordable compared to the income levels. Thus, the growth would not be crazy, but constant and sustainable," adds the spokesperson.
About Maxwell Capital Realty:
Maxwell Capital Realty is a leading real estate company in Alberta, Canada. They offer a huge inventory of MLS listings in Calgary including townhouses, condominiums, rural houses, etc.
To know more, visit, http://www.maxwellcapitalrealty.ca
Contact :
http://www.maxwellcapitalrealty.ca/
Maxwell Capital Realty
suite 114, 3604-52nd Avenue North West
Calgary
Alberta
Canada
T2L 1V9
Phone number : 403-282-7770
E mail : bill.macdougall@shaw.ca
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About Maxwell Capital Realty
Maxwell Capital Realty is a leading real estate company in Alberta, Canada. They offer a huge inventory of MLS listings in Calgary including townhouses, condominiums, rural houses, etc.
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