Calgary has the Healthiest Real Estate Market in Canada

Calgary has the healthiest real estate market in Canada

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Although there are some Canadian cities that experienced a bigger increase in home sales during 2012, including Regina, Calgary has the healthiest real estate market in Canada.

There are several factors that cause Calgary to lead the pack in home sales, and the fact that it enjoyed the highest MLS® sales growth from December 2011 to December 2012 has gained the area a lot of positive attention.

According to Scott Bollinger, Broker at Commonsense Network brokerage, a proud part of the ComFree network, “When you combine the solid real estate market growth with other important factors, including the average salary, Calgary definitely stands out as the healthiest real estate market in Canada.”

Calgary’s real estate statistics

According to the Canadian Real Estate Association or CREA, Calgary bucked the national downward trend of MLS® sales from December 2011 to December 2012. In fact, when both months were compared across the nation, the MLS® sales dropped by a staggering 17.4%.

In Calgary, however, the sales actually increased by a robust 7.2%. The city also experienced an increase in home sales during 2012; that was 2% higher than the national average. Home sellers took advantage of the demand for quality real estate in the area, and Calgary’s overall home sales increased by 18.6%.

Will these real estate trends continue?

Alberta is one of Canada’s fasted growing provinces, and that will keep people heading to the Calgary area for the foreseeable future. As long as the Canadian dollar stays strong, there is no reason why Calgary’s real estate market should stop moving forward at a good rate.

Other perks of the Calgary area

Although a fast real estate appreciation rate is definitely an attractive quality, it is not the only thing that future homeowners need to consider. For example, if you buy a home that is expected to greatly increase its value within the next 10 years but you hate the neighborhood, you will definitely end up regretting the decision.

Fortunately, Calgary has a lot of perks that make it a great place to buy real estate. Residents are able to take advantage of living in Canada’s only province that does not collect sales tax, and they also enjoy the highest average salary in the country.

The cost of living in Calgary is higher than the national average, but it is still lower than Vancouver, Toronto, Ottawa and Montreal. When you combine the lack of sales tax with a higher salary and the fact that Calgary has one of the fastest growing job markets in Canada, it is easy to still become financially successful in Calgary, regardless of the city’s cost of living.

How livable is Calgary?

According to the Canadian Federation of Independent Business, Calgary is the fifth most livable city in the world. Calgary has also been ranked high for its overall quality of life, culture and level of activity.

In 2010, Forbes gave Calgary the number one spot in the world in the category of Quality of Living in an Eco-City. Therefore, if you would like to do your part to take care of the environment while also maintaining a high real estate valuation, Calgary is truly the best place in Canada to call home.

Is Calgary good for real estate investors?

As previously mentioned, some cities are currently experiencing a bigger real estate boom than Calgary. However, none of them have the same proven longevity, and they also do not feature the same quality of living standards.

Therefore, unless you are planning to purchase a home with the intention of flipping it in a few months, Calgary is probably your best bet for the long haul.

If you plan on buying or selling a home, visit today.



Author bio:

Cooper Frederickson is a freelance blogger and author who focuses primarily on home design (interior and exterior), home improvement, real estate, and home construction.

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