MORTGAGE Blog & ARTICLES
September – A Record-breaking Month for Calgary
According to the report conducted by the Calgary Real Estate Board, the resale housing market of Calgary is about to break the record for MLS sales in the month of September. Such peak has actually been noted in place since the year 2005. The Calgary Real Estate Board also revealed that there have been 1,500 sales within the city from September 1 to 21, which is more than 11.61% from the same period last year.
For the month of September 2005, the monthly record revealed that there was 2, 197 total transactions made. Last year, there were also 1,919 sales for the whole month of September, which was noted as the second best September record. Last month, there’s almost a new record for resale housing in Calgary that was set. September 2014 nearly matched the preceding record of sales that was actually set back in the year 2005.
There have been a lot of activities made in the resale housing market of Calgary and such activities were centered around the apartment and condominium townhouse sector. This is just an indication that a higher activity must be made in the homes and properties that are even more affordable for buyers. Since single-family homes are now becoming available at four-hundred thousand dollars or less, a lot of people are starting to look at condos and townhouses as an ideal option.
However, it is important to remember that the great demands for every type of housing remains. This is especially true as the levels of migration continue to rise. There is an extreme positive long-term outlook for the city and many people are not really afraid to buy real estate properties in Calgary. Many of them are even considering it as a great investment opportunity.
Moreover, new listings for the month of September this year went up to 3,260. By the end of the month, there will be expected 4,598 active listings that will be identified on the market. When it comes to the annual price increases, the month of September was actually the thirty-second month in a row to see significant prices to go up in Calgary while it’s also the eighteenth month in a row for a year-over-year increase for sales.
For the month of August 2014, sales in the category of condominium escalated by 33.33 percent on a year-over-year basis, while the sales for townhouses increased by 30.33 percent. Sales in the category of single-family category were also up to 3.48 percent when compared to the overall amount sold in September last year. Four-hundred condominiums were sold, 1,398 single-family houses and 318 townhouses were sold.
Real estate experts revealed that the dramatic growth in population in Calgary has great impacts in the sales market of real estate. Because of the low vacancy as well as the continued fluctuation of new residents in the city, the real estate market in Calgary has also improved. With the increasing number of property sales for the month, September 2014 is indeed a record-breaking month in the city real estate industry.
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