Connect2Agent puts the spotlight on Calgary, Alberta

Calgary, Alberta is the place to be...fine living at a price that can't be beat. It's no Green Acres, but it is great living.

I spoke with Cindie Durnie, a Connect2Agent member in Calgary, Alberta, and asked her about her local real estate market. Here's the lowdown on Calgary, as seen through Durnie's lens.

How is the climate of your real estate market right now?

It is a good market right now--a buyer's market. There are currently 13,000 listings in Calgary and the surrounding area. Real estate buyers have a lot of inventory to choose from. The market started to change in October/November of 2007. 

In 2006, Calgary went through a boom phase. Prices of houses doubled overnight. This was unusual for Calgary--as its competitors, Vancouver and Toronto, were used to these price increases, Calgary was not. Now prices are stabilizing and real estate consumers buying a house in Calgary will find they can more easily afford that first house or move-up house.

Why would people want to move to Calgary, Alberta?

I have lived in Calgary all my life. The Rocky Mountains here are a huge source for tourism. Our economy is great due to our oil industry. Calgary is also a very diverse city. We have international relocations regularly.

What kind of advice can you give to a buyer or seller interested in the Calgary real estate market?

For a first-time home buyer, there are affordable options now that didn't exist in the Calgary real estate market in 2006 because the market is stabilizing so house prices are lower than they were. There are still no-money-down financing options for real estate buyers with good credit. There are also new home builders that have built developments geared toward first-time home buyers. The average 3-bedroom, 2-bath single-family house is selling in the mid-$350-400,000 range and the average condominium is selling in the $250-350,000 range.

The key for homeowners looking to sell their house is to get educated about the real estate market in Calgary. Real estate sellers need to make sure they are strategically priced, so their best bet is to consult with a real estate agent and get a CMA (Comparative Market Analysis) of their house. You should rely on a real estate agent to help educate you about the local Calgary real estate market, because the figures you find in the newspapers are usually a month behind what the actual market in Calgary is doing. 

How do you feel about selling real estate in Calgary, Alberta?

I really love it and can't complain. I have been selling real estate for about a year, and have done well. It is a tougher market than in 2006, but there are opportunities. I am potentially up for Rookie of the Year, as I closed on 14 sales within a 9-month period. 

If you are interested in buying or selling a house in Calgary, Alberta, contact Cindie Durnie or interview a local real estate agent in Calgary for up-to-date market information.

If you enjoyed this post, you may want to read:

• Does Washington DC finally have affordable housing? Real estate agent Natalie Dean breaks it down
• Connect2Agent puts the spotlight on Huntsville, Alabama
• Connect2Agent puts the spotlight on the Smyrna, Georgia, real estate market

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Posted by Rebecca D. Levinson