Calgary’s real estate market ends year on strong note
Posted Dec 30, 2009 8:31 am.
This article is more than 5 years old.
The local real estate market has enjoyed a big turnaround this year.
Sales and prices nose-dived at the start of 2009, as the impact of the recession was being felt around the world.
Fred Ketchen with Scotia Capital tells 660News when spring arrived, many people realized the economic downturn in Canada was not nearly as bad as the one south of the border.
Ketchen says people started to take advantage of both reduced house prices and low interest rates and returned to the market.
Re/Max estimates by the end of the year MLS sales will reach 26 thousand up 12 percent from 2008.
The Calgary Real Estate Board reports both the sale of single family homes and condo’s are up this year over last with prices still down about 5 percent over the same period.
In November the average price of a home in Calgary was pegged at $464 thousand dollars.
