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Calgary Real Estate Market Massive Growth due to Professional influx & low inventory – Study

Posted by on Jan 9, 2014 in News, Real Estate, Uncategorized | 0 comments

Calgary real estate market is booming because of lack of properties and population growth as discovered by a new study carried out by Royal LePage House Price survey. The survey revealed astonishing results for quarter three – the average bungalow prices in Calgary for the third quarter are up 7.2% year-over-year to $465,411 , Two storey house prices are up 3.4% year-over-year to $446,411. Standard condominium prices are increasing 5.6% year-over-year to $263,087. “A continous period of low housing inventory coupled with a strong economy and an influx of corporate sector workers is pushing prices up regularly” said Ted Zaharko, broker/owner, Royal LePage. “For some time now too many buyers have been chasing too few properties.” He further said that the inventory is low in all housing categories, specially in detached bungalows which are much rarer in Calgary compared to...

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