Wednesday, March 15, 2006

Calgary Housing Market Getting Hotter

Taken from the CTV News site

"It's almost hard to believe, but Calgary's housing market is now even hotter. It's great if you already own a home, because prices are still going up. The average sale price of a single family home in Calgary hit $342,000 last month, up 29 per cent over last year. The price of condos is also way up. In February, the average price was $217,000, up 22 per cent from the same time last year. The skyrocketing prices are making it hard for first time buyers to afford a place. Ironically, the hot market is also making it tough for realtors. There are approximately 5,000 agents in the city, clamoring for between 1,500 and 2,000 listings."

All I can say is . . . wow and darn. I'm moving into the highest real estate market in all of Canada (Greater Vancouver Area), click here for their real estate market stats. I also found a great blog - the Vancouver Housing Blog - that offers good, thorough market insight into the Vancouver real estate bubble.

A side note on this real estate boom - healthy province (thank you Uncle Ralph), healthy city (thank you 25,000 people moving into Cow-town a year), healthy economy (naturally a money maker . . . I also know that gas and oil won't last forever). Calgary has all the right ingredients for a healthy real estate market at this time - it makes good sense for it to boom. But what's up with Vancouver? Is it truly a developer's paradise? What gives in Van-city?

No comments: