Well, it's official! The Calgary Real Estate Board has announced that May was a smashing real estate month, setting new records across many categories. Some of May 2013's accolades include:
- Highest Average & Median Sales Price Of Single-Family Homes
- Highest Average & Median Sales Price Of Residential Properties
- Highest # Of Luxury Homes (Over $1 Million) Sold
That basically means Calgary's real estate market is thriving, making it a great time to sell. Better still, it's also a great time to buy. Calgary's market is fairly balanced at the moment, which essentially means there's an equal interest for buyers and sellers, creating hot turnover rates and ample opportunity.
Breaking the average sales record for month of May also indicates that Calgary homes are continuing their increase in value and price. The previous record was set just in March! If you're thinking about buying a new Calgary home, whether it's your first home or an upgrade, you should do so now. Waiting could minimize the profits you make in the future and could mean that your dream house rises beyond your budget.
On a larger scale, this also means it's a good time to live in Calgary. A strong real estate market is an indicator of a strong economy, as it's success in the latter that causes home prices to rise. Calgary continues to attract talent from around the world, further strengthening the community, economy and real estate market.
All in all, record-breaking real estate months are a great thing for our community. It means our families will continue to grow alongside a thriving city, while our opportunities for wealth and fortune increase as well.
If you're interested in talking about how to take advantage of May's record setting real estate month, call us today at 403-253-7774!
Krista Kehoe, Calgary real estate agent & REALTOR®