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Calgary's red-hot real estate market has clipped a record height of luxury house sale in August. If we consider the broader picture, every type of Calgary houses for sale is shooting up in price as well as demand, though not at a consistent pace, rather a see-saw kind of trend can be observed from the graphical representation.
Heavy flood in June has stepped up demand for houses in Calgary and overall Alberta region. Booming economy has always been an inviting factor for professionals to buy residential property in Calgary. Economic growth has fomented rise of educational institutes including facilities for higher studies, nursing homes, parks, restaurants, theater halls and every imaginable kind of entertainment arrangement. The ambience is very peaceful, which is another reason why Calgary residents feel like living in heaven.
We will now present some statistical records that suggest Calgary Alberta real estate has set records at a torrid peak in last August. Trend has been continuing and is believed to register an upward rise (not as a linear curve though) in years to come. According to the reports by Calgary Real Estate Board, total MLS sales in August went up by 27.53 percent as compared to the same period in last year.
Demand foments price level and that is clear from the fact that average price was up by 8.80 per cent to $453,752 whereas median price too rose by 6.40 per cent to $399,000. According to CREB, the benchmark price showed an upward movement to $417,300, 7.63 per cent rise from last year. At the end of August, 524 luxury houses were sold out in Calgary as compared with 370 for the same period in the previous year. The annual record of houses for sale in Calgary Alberta was pegged at 544 transactions.
According to the agents as well as real estate analysts, the Calgary market is going through a strong selling phase. Craze is such that if you put up a house on sale, it won't take much of time to attract admiring glances even the price tag is clipped at a very high level. Fact is that those who are after luxury home purchase don't mind splashing out money to live in where all kinds of amenities are. The agents claim that the homes for sale calgary which are in mint condition (in case of reselling) or the newly built structures are selling quickly if they are listed at current market price.
The growth in real estate market worldwide was punctured by economic slump a few years ago. However, as the world economy is on way to recovery, the real estate brokers, promoters and the prospective home sellers have every reason to hang up a lingering smile, as all of them can mint money from property sale.
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