Calgary News Watch

It was great to hear that Calgary is in the top three western cities to set record home sales that past month.

According the MLS data that was received from the Canadian Real Estate Association, new monthly price records were set in at least eight cities. The three cities to top this records were Edmonton, Saskatoon and Calgary.

Home owners such as myself will be glad to note that in March the average home resale price was $316,572. This increase is more than $5,000 since last month and represents a 9.5 percent increase over this time last year. This steady increase in home values is encouraging and seems to be ongoing. The Canadian Real Estate Association found that home sales during the first three months of 2007, when adjusted seasonally, were actually the highest ever recorded.

Grego Klump, a chief economist, said:

“Tight markets make for sizable price gains and nowhere is that more true than Calgary…CREA forecasts that price increases in 2007 and 2008 will be the biggest in the Prairie provinces and British Columbia.”

Although I am feeling good about increasing home values, what do you think? Is this increase going to be steady and is it for real?

This entry was posted on Tuesday, April 17th, 2007 at 6:37 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.