For the most part most Canadians understand and respect the importance of the energy sector to the overall GDP of Canada which also includes contributions to other provinces without energy resources. Alberta is the primary energy resource rich province in Canada.
Calgary is a metropolitan of some 1.3 million and in the past few years has seen an increase in interest in the housing market here. However, with recent political news and the re-election of PM Justin Trudeau, Albertans in general are concerned. Do they have reason to be? Let’s dig in and find out.
As of this day (Dec. 16, 2019) the housing market in Calgary is still, even if hard to believe, a buyers market. This according to this article on CBC (https://www.cbc.ca/news/canada/calgary/crea-housing-prices-homes-calgary-toronto-vancouver-1.5397882)
As the article outlines, although house prices have dipped 2%, the fact remains that the volume of total sales is up over the 2018 season. Instability is still a real concern while the next four years under Trudeau’s Liberals, could add further instability ahead given the wedge between the province and that party.
Politics aside however, by no means is Calgary dependent upon political agendas of the Federal government. The city has so much to offer new homeowners which is likely what drives the market here more than anything.
Here are a few of the benefits Calgary residents have available to them:
- close proximity to the Rocky Mountains (1.5 hr drive) and nature
- youthful population with average age being 36
- higher income – Calgary has more millionaires per capita than anywhere else in Canada
- highest homeownership numbers in Canada
- outdoor trails totaling 18kms throughout the downtown region
- Clean. Calgary ranked #1 on Mercer’s Top 10 Cleanest Cities in the World in 2013
- vibrant nightlife and shopping options
Of course there are many more however we’d be here all day listing them so let’s continue with talking about homes for sale in Calgary and why 2020 is shaping up to be a good year for real estate here.
What’s hot in and around Calgary?
The community Lake Bonavista is one of the most talked about areas around Calgary to live. Why? Well for one it surrounds a man made lake. In fact it’s the first lakeside community in Calgary. Residents here get a member access card to Fish Creek Provincial Park – an incredible park featuring many amenities to the outdoor enthusiast. Homes for sale in Lake Bonavista range in price between $750k and $775k on average. So yes it’s clearly an upper-end housing market here.
Another popular area around Calgary for those looking for the truly luxurious Alberta experience and everything Calgary has to offer is Britannia.
Britannia is one of the highest priced markets in Calgary and is renown for it incredible homes by some of the finest architects around. Calgary once declared the area of significance due to it being one of the oldest and most comprehensive neighborhoods in Calgary. Houses for sale in Britannia range in price starting from around a million and heading straight up to the record home sold in Calgary at $6 million.
That being said virtually anywhere in the greater Calgary area would be a fantastic place to live or raise a family and data is showing us that with lower home prices and higher demand, Calgary in 2020 should be looking forward to more positive news in real estate.