Summer is Over = Back to Work

Jim McLeod August 19, 2014

We are headed into the last days of summer and like many people my vacation is over and back to school is on everyone’s mind along with getting our heads back into work. Our real estate market has continued marching on over the summer with still healthy increases over last year. The Central Alberta Realtors association reports that sales are up 13% year to date over last year and listings being up 5% over last year. The dollar value of homes sales was up 11% over last year so far. We also have 5.4 months of inventory as of the end of July compared to 6.3 months of inventory at this time last year. The interest rates are still at a low level and look like they will continue to stay at this level for some time. To me this means we are creating more jobs and good paying ones here in Alberta. As I look around our economy it is hard to see anything negative here in Alberta no matter what part of the economy you are involved with. We still have buyers coming in from all parts of the country to fill our jobs. What more could we ask for other than a little less winter. It is my opinion the above information indicates a continuing trend of upward pricing for the rest of the year. I have been speaking to some realtors in Arizona and because of the price increases there and the Canadian dollar’s value dropping they are seeing less Canadians buying. I believe that is why we are seeing price increases in places such as the Okanogan and Canmore. My guess is we will see that filter down to our resorts closer to home next year. Everyone I speak to have such a positive attitude about Alberta and our opportunities who would not be excited to be living here and doing business here. If you have any questions on real estate please let me know. It would be awesome to talk to you.

Join The Conversation

This site uses Akismet to reduce spam. Learn how your comment data is processed.