Another Good Year Ahead!
Posted by Joe Samson & Associates on
Friday, January 18th, 2008 at 10:56am.
The Calgary Real Estate Board’s Annual Forecast Conference and Tradeshow was held on Wednesday, January 16, at the Round-Up Centre with an exceptional attendance of 1,700 people.Ed Jensen spoke to the crowd about the Value of a Calgary REALTOR® and ended with his forecast for 2008.
What should we expect in 2008? The following provides some highlights of the 2008 forecast:
Listings in towns surrounding Calgary are expected to drop by 5 per cent over 2007, with an extimated total of 8,600. Sales in the same category will be 5 per cent lower than 2007, with an estimated sales number of 5,000. The average price of homes in the bedroom communities is expected to rise by 5 per cent to approximately $396,000.
Calgary’s condo market will see a 5 percent drop in listings from 2007, with an expected total of 12,400. Condominium sales will also see a 5 per cent drop coming in at approximately 7,700.
Single family listings in Calgary will come down 5 per cent over 2007, at around the 30,100 mark and single family properties changing hands in 2008 will drop 5 per cent with an expcted total of 17,500.
The average price of a condo in the city of Calgary for 2008 should rise by 6 per cent to approximately $335,300 with single family climibing 5 per cent to approximatey $495,800.
“I expect to see the first part of 2008 continue to be a bit of a roller coaster ride, with listing levels going up and down, until we get through the last part of this inventory adjustment period,” Jensen explained in his speech.
“Seeing a solid Alberta economy, strong employment, predictions of movement to past levels of net migration, I see the Calgary market moving closer to normal market conditions; as normal as Calgary can be. I predict that we will have
(Source: CREB)
Joe Samson, a Calgary REALTOR ® who has been helping clients to achieve their goals in the Calgary real estate market for many years now. Please visit some of his other web pages such as Silverado real estate.
To Your Real Estate Success!
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Last updated on: 2012-05-17 00:22:34
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