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Hot Housing in 2021: The First Quarterly Report Shows Record Sales in Calgary & Surrounding Areas
Dated: April 23 2021
Can you believe we're already almost four months into 2021? It marks a strange milestone of an unprecedented year, where homes have played bigger parts in the minds and hearts of their occupants than perhaps ever before. What was once a place for the in between social and work engagements became the central space for people all over the world. This new reality combined with record low mortgage rates, pent up supply from earlier months in the pandemic, and other factors have all combined to make 2021 an already record-breaking year for house sales in Calgary & surrounding areas.
The Calgary Real Estate Board recently released their latest quarterly report breaking down the numbers showing sales have almost doubled compared to last year's first quarter. In fact, numbers are the best they've been since 2007. Detached homes have unsurprisingly taken the lead with these sales, as most people have moved to upgrade, often to suburban area single-family homes with more room, and less need for commuting convenience.
In the surrounding areas, trends were similar with sales volumes increasing exponentially. Cochrane in particular took the lead with a 128% increase in sales year over year. Chestermere saw the highest increase in benchmark price with the average selling point raising 6.99% year over year.
Moving into the late spring and summer is often a busier time for Calgary real estate as is, and activity is expected to remain high, but perhaps balance out a bit. We've sure been busy in our office, and we're excited to see what the summer brings.
Check out the full report here and if you're curious to get involved with selling your home or buying a new home, feel free to reach out to Team Stevenson! We're happy to help break down this report, perform a free evaluation for your home, or answer any questions you may have.
Kerry has been an award-winning top agent with Royal LePage since 1980. He uses his creative, innovative, and technical skills to lead the curve when helping others buy and sell homes. His years of ex....