Low mortgage rates, coupled with strong consumer's confidence in the local real estate market have fueled housing sales in Calgary in 2012, up 16% from last year with more expected to come in 2013.
The latest market report from CREB showed that this confidence has extended to the luxury market where sales surged last month to the highest level ever seen in November as 48 properties over $1million changed hands, exceeding the November 2009 previous record of 40 sales.
This year, another record was set for the month of October upper end home sales with 51 sold units priced over $1million, while the 80 luxury properties that were sold in May marked the "all-time record for luxury home sales" in 2012 according to CREB Now Article.
Between January and the end of November luxury home sales reached unprecedented level with 505 sold units, up 11% from the 2007 sales of 449, and 17% higher than last year's number of 430!
With the economy growth in Alberta leading the country, the expectations are even higher for Calgary's real estate market in the next year as the job creation and net migration, that reached levels close to the boom year of 2007, will push demand for housing further in the city!
When you're ready to buy or sell a home in Calgary, we are your real estate agents of choice. Be sure to use our quick and easy search feature. We're the experts, and we're here to help you! For more information on how we can help you achieve your real estate goals please contact Calgary Home Team via email or directly @ 403-519-9102.