Calgary, Alberta Real Estate Appreciates 18.62% in 2007!

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Real Estate Agent with Remax House of Real Estate

The stats are out ... and Single Family Homes in Calgary appreciated 16.62% in 2007. Condo's increased by 20.41% ... for combined appreciation of 18.62%!

 The year-to-date average price of a single family Calgary metro home in 2007 was $472,230, and the year to-date average price of a metro condominium was $316,370.

The year-to-date median price for a home was $421,000, an increase of 16.62 per cent from the 2006 year-to-date median price of $361,000. (Creb.com)

These are amazing stats.

March and April was a Sellers Market ... where multiple offers and high prices were the norm. May through July showed a balanced Market. Since August it has been a buyers market where there has been a huge inventory of homes ... and serious price reductions.

While we are still in a buyers market ... the stats show this is changing quickly. Since late November ... the inventory of homes has decreased and days on market have decreased. The graph is downwards ... indicating that we are getting closer again to a balanced market.

What a roller coaster.

I plan to live to be 116 years old.

When I'm 106 years old (in 2073) and looking back on my life ... I'm certain I'll look back at this time (2006-2012) as truly exceptional.

It's an incredible prosperous time for those folks who study the economic fundamentals (and take action) of what's driving the price increases we have seen Alberta.

In 2008, Don Cambell of www.albertarein.com is predicting 12.2% increase in Calgary prices. TD is predicting 10%. My Canadian Leaders at REMAX have produced a press release indicating that prices will be flat. (I think they are on crack cocaine.)

I'm predicting 13% appreciation in 2008.

Posted by

Bryon Howard

ReMax House of Real Estate

Calgary, AB

For a free maket evaluation visit http://www.homeinsight.com/Widget/default.asp?ACJ2B351Q3YN

 

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Rainmaker
424,566
Frances C. Rokicki
Fran Rokicki Realty, LLC - Bolton, CT
Broker-Mentor,CRS

Bryon,

Just remember to put one-third of your net into reserves.  My Coach, Brian Buffini, taught us to keep reserves in our business and home budget, and thank God he did.  When our market returned to its old self, that truly saved many of us.  Enjoy the ride!

It's a Good Life!

Fran (from Ct, USA)

Jan 05, 2008 08:24 AM #1
Ambassador
791,084
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros
It is good to see somebody some where is in a growing market
Jan 05, 2008 09:03 AM #2
Rainer
9,270
Hannah McIntyre
Canadiana Property - Ottawa, ON
CanadianaProperty.ca

Congratulations!

Having been raised in BC, I'm well aware of what a strong housing market is like. Vancouver is now the only major city with a higher home cost average than Calgary. It's definitely a great time for Realtors in your area, and I hope it continues into the future as well for you.

I do have one question though: with this increase in price, have you seen a greater increase in investors looking for a property, or simply families trying to buy a home. I would assume there would be more investors in the market, but a friend of mine from Calgary tells me there are more families buying and selling now. 

Jan 05, 2008 02:12 PM #3
Rainmaker
103,287
Paul Viau
High Shots Photography - Halifax, NS
High Shots Photography
That's good news for us in N.S. since it seems every second person you talk to out here is from Calgary. Quite a trend! I have people trying to sell south of Calgary and it seems  forever since they put there house on.
Jan 06, 2008 07:47 PM #4
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Rainer
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Bryon Howard

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