Calgary Expected to See Slow Steady Real Estate Price and Sales Growth

Posted by Alan Zunec on Wednesday, August 3rd, 2011 at 7:43am.

It doesn’t look like there is going to be a Calgary housing boom anytime soon. But perhaps that isn’t such a bad thing. Calgary, as well as Edmonton, will be two of the few metropolitan areas in the nation that will see higher sales and increases in the average home selling price, predicts TD Economics.

Across Canada, the resale real estate market is expected to see a decrease of in activity of 15.2 and a 10.2 percent drop in average per home price. Toronto and Vancouver are expected to be the hardest hit. Calgary will go against the national grain and post slight increases in both categories.

TD Economics is expecting some 21,400 sales this year, with an increase to 22.500 sales by the last month of 2013. As far as price, it will be a moderate gain, but still a gain. The prediction is for a year end average of $403,700 this year with an increase to $410,500 by the end of 2013.

Sano Stante, who is the Calgary Real Estate Board president, advises this is not a boom, but rather a nice gradual recovery. That recovery has been spurred by the recent employment and increased output in Alberta’s energy fields. Energy prices are expected to hold steady, which will also keep the real estate market nice and steady with a slow, perhaps, but steady growth.

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