In the world of real estate, timing is everything. And if you're looking for the next hot spot to invest in, Calgary is shining brighter than ever. Here's why:
Unprecedented Sales Record
September saw Calgary home sales touch the sky with 2,441 transactions. These numbers are not just digits; they tell a tale of a city where housing demand is thriving amidst global uncertainties.
The Inventory Crunch
A booming market usually leads to more listings. While Calgary did witness an uptick in new listings, the inventory remains tight, standing lower than last year by approximately 24%. This scarcity can drive up prices, making early investment potentially profitable.
Detached Homes: The Premium Choice
For those eyeing luxury, detached homes have witnessed significant demand. Notably, properties priced below $700,000 are scarce, indicating a shift towards premium housing.
Semi-Detached, Row Houses, & Condos: The Urban Dream
Semi-detached and row houses are the urbanite's dream. With a steady price increase of 11% and 17% from last year, respectively, they are a gold mine for potential investors. Furthermore, apartment condominiums are not lagging, showing a whopping 25% rise in year-to-date sales.
Why the Surge?
The Chief Economist at CREB®, Ann-Marie Lurie, points out the significant inter-provincial migration as a driving factor. As more people see the appeal of Calgary, the housing demand amplifies, despite challenges like higher lending rates.
Concluding Thoughts:
Calgary's vibrant housing market trends, combined with the allure of the city itself, make it a pivotal investment arena. The demand is strong, the numbers are promising, and the city's potential is unparalleled. Whether you're a seasoned investor or a first-timer, Calgary's booming real estate landscape beckons with opportunities galore. Don't miss out on this.
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