With the snow hitting the ground, it usually signals a slow down in Calgary's real estate sales. That is a little less evident this year it seems. The ongoing growth in the overall sales numbers and increases to pricing continue.
The overall numbers show a slight increase from September in terms of pricing across various types of property. The larger increases are in year to year comparisons. Sales are significantly higher with inventory significantly lower from October 2012. Total sales numbers increased beyond the 10 year average for the first time since 2007 are on par between those posted between 2004 and 2005.
Things are slowing down a bit due to the expected seasonal adjustments but just less so than in previous years. Inventory is dropping so buyers will see less and less choice as we approach the holidays.
The big picture for Calgary is positive and strong but not yet entering the frenzy zone. It has definitely made for interesting negotiations when buyers and sellers have different views of the crystal ball.
On a local level, the various developments and announcements from builders, developers and government are changing the landscape so adjustments to various communities may also start to shift outside of the larger picture.
The largest announcement being agreement for the SW ring road. The construction can have nothing less than a major effect on how folks get around Calgary and it will have consequences to the real estate market. View the design concepts for the length of Stoney Trail and the SW Ring Road.
Currie Barracks is in the news with plans for a town site concept in this large and unique urban community as well as applications related to the West Campus development by the University of Calgary. Various condo projects have been announced and some existing developments such as the River in Mission have adjusted design and construction plans due to the recent floods. Growth and more growth for our amazing city.
November 30 marks the deadline for home owners applying to the Disaster Recovery Program and much work remains in this area.
Hope you had a great Halloween. We'll soon be searching for our Christmas lights.