The Calgary real estate market is still active; Median Home Price Up to $ 457,900 – Calgary | The Canadian News

After a flurry of home sales over the summer, Calgary’s housing market was bracing for a slowdown in September.

But the latest figures from the Calgary Real Estate Board show that sales continue to grow year after year.

CREB reports that 2,162 residential homes were sold in September, a 26.7 percent increase over this time last year.

Inventory fell to 5,607 properties, a 10.3 percent drop, forcing prices to continue to rise.

The median home price in Calgary rose to $ 457,900, an 8.6 percent increase compared to September 2020. The median single-family home costs $ 537,500.

RE / MAX First’s Justin Havre said the figures show Calgary remains an active market for both buyers and sellers.

“The single-family detached housing segment is still relatively strong,” Havre said. “And there are so many opportunities in the apartment segment.”

Havre added that he is seeing growing interest from buyers outside the province, specifically from the Toronto and Vancouver markets.

“Something like a [detached home] it could cost double, if not triple, in other markets, ”Havre said. “So when there are people in Ontario looking at Calgary, we are on sale.”

Shopping from afar

Owner Agamemnon Spiridoulias and his wife have been looking at the Calgary market for a while.

The Burlington, Ontario couple decided they wanted to capitalize on the record housing market by selling their home and buying property in northwest Calgary.

“We were looking at the final result,” said Spiridoulias. “You really get more for your money here, and the housing market here for us, who come from Burlington, is super affordable.”

Buying a home across the country and wanting to avoid traveling during the pandemic, Spiridoulias chose to check out the options through video calls, photos, and virtual tours.

“The first night we went out here [was when we got] the keys and entered the place for the first time, ”said Spiridoulias.

He added that while professional photos tend to exaggerate room sizes, video tours appear to do the opposite, representing less of the square footage.

“We went up to our second level. We think this is much more than we would ever need, ”said Spiridoulias. “So it was a nice surprise.”

The new Calgarian said he would recommend a similar process for other buyers looking to move across the country, as long as you establish some ground rules with your real estate agent.

“Don’t fall in love with all the places you are looking at,” said Spiridoulias. “Make sure of that [the house] it really meets the requirements of the main things you are looking for. “