Re/Max put out their Housing Market Outlook 2012 report this past Tuesday, citing that Calgary is looking for at a higher demand for residential real estate in the coming year. In fact, the firm noted that Calgary will be the leader in the Canadian real estate market as far as MLS sales are concerned.
By the end of 2011, some 22,500 homes are expected to be sold, which is an eight percent increase over the sales for 2010, which came in at 20,801. The increase in price between 2010 and 2011 is considered modest, going from an average of $401,186 to a projected $405,000 by this year’s end. In 2012, that price average is expected to grow by at least three percent to about $417,000. At the same time sales are expected to see a five percent increase, with 23,600 units changing hands.
Lowell Martens, who is a Re/Max agent in the Mountain View section of Calgary, notes that sales this year may have been influenced by the European Union’s economic troubles. But, he notes, if you look at the amount of real estate construction going on in the city, it paints a much rosier picture. The city’s economy is bustling at the moment, spurred by the success of the energy industry within the province.
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