Calgary News Watch

For the last couple years the Calgary Real Estate market has been very hot, or maybe it’s better to say “on fire”. The people who invested in Calgary Real Estate two years ago and have now sold their property have made from about $100,000 to $200,000 or maybe even more. So… is the Calgary Real Estate market still hot? Is it still a good time to invest in Calgary Real Estate?

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Well, lets take a look at some statistics first. These numbers were taken from the Calgary Real Estate Board statistics report for May 2007 and for May 2006.

The average price for a Calgary single-family home in May 2007 was $487,523. It is $72 thousand more compared to average price of $415,815 in May 2006 and $210 thousand more compared to average price of $277,807 in May 2005.

The average price for a Calgary condominium in May 2007 was $332,237. It is $59 thousand more compared to average price of $273,407 in May 2006 and $151 thousand more compared to average price of $181,495 in May 2005.

In May 2005 there were total of 4,430 new MLS listings; in May 2006 - total of 4,413 listings; and in May 2007 - total of 6,351 new MLS listings. WOW, can you imagine that 6 thousand properties are listed in Calgary and the surrounding area?

So where are all these listings coming from? Lets think for a second. What is one of the best ways to invest in Real Estate…?

One of the best ways to invest in Real Estate is to build a new house. You only need to put 5% or 10% down (this is what it was in Calgary 2 years ago, now I believe it is a bit more). Then just sit and wait until the house is built. Usually it takes about 1 to 1.5 years to finish your house. Yes, during this time prices are usually increasing and by doing practically nothing you are making some money.

Obviously, right now Calgary must have a lot of properties for sale. Some of these properties are from investors (usually second hand new houses) and some are old properties from people who are moving to a new home.

Now coming back to our original question - Is it still a good time to invest in Calgary Real Estate? What do you think?

This entry was posted on Friday, June 29th, 2007 at 9:54 pm and is filed under Calgary Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or Search Engine Friendly trackback (rel='external') from your own site.