Calgary provides ideal real estate conditions and lifestyle options for those discerning buyers looking for an opportunity to buy affordable, but luxurious real estate. The city is home to about 1,240,000 people and is in the heart of Alberta. The Calgary International Airport makes it easily accessible for the rest of the world. The city, an important economic hub, has become a popular tourist destination for the Calgary Stampede, ample recreation, and close proximity to Banff, Canmore, and the Rocky Mountains.
Calgary was first incorporated into a town in 1884 and elected its first mayor later that year. 10 years later it officially became "The City of Calgary" in what was then the North-West Territories. Today, it is a modern, thriving city with numerous benefits to home buyers. A diversified economy and ample services, for those of all walks of life, has created an ideal place to call home and an ideal place to own real estate.
Real Estate Market in Calgary, AB
As diverse as the history and the economy is here, so is the real estate market. Buying in Calgary provides residents with incredible opportunities, potential views and access to several provincial parks.
When considering what to buy in Calgary, buyers have numerous options. Outside of the city limits, along the outskirts of town, are many acreage style properties with sprawling yards and large homes. Just inside the city limits is where many new developments are springing up. For more traditional housing, Calgary has plenty to offer in all quadrants of the city. Homes are smaller, but offer more traditional features. Calgary has enjoyed a long, steady growth over the last 50 years giving a wide variety of options and even tear-downs. As a result, modern, stylish homes are also available in various neighborhoods within the city.
Home values are growing year-after-year in Calgary but remain affordable. The average selling price for real estate in June of 2017 was $501,210, which is about a 3% increase from the previous year. In the same month, about 2,140 homes were sold, showing a nearly 5.5% increase from June 2016. This shows the demand for real estate in Calgary and the surrounding areas. From apartments to semi-detached to single-family homes with 2 and 3 bedrooms (some of the most popular), to large, luxurious estates on spacious parcels of land, numerous options exist in this area.