Well despite the little snowstorm we had a week ago, spring looks like it may finally be here and the inventory is coming in with the warm weather.
Provincial health restrictions had been lifted and society is starting to get back out there into malls, retail, restaurants, and rental properties have picked up like crazy.
Not only do we help people buy, sell, invest in real estate we also are heavily involved in Calgary/area real estate investments including rental properties.
I have not seen this kind of rental demand in many years since back before the last correction in 2014 where there we bidding wars for rentals in Calgary! Indicators show we might be back there again soon if the vacancy rates and in-migration to Alberta continues at the current pace.
Single family home are the hot commodity at the moment with The detached benchmark price rose to $628,900 in April, which is 19 per cent higher than last year. Causing strong market conditions in this asset class.
All markets have picked up with the rising interest rate cost causing SOME buyers to re-think the total amount of mortgage they want to take on and buying smaller and different properties such as townhouses and condos.
Investment in Calgary real estate is now the target for a lot of out of town buyers from Expensive trophy markets such as Vancouver and Toronto where they have seen huge equity gains and they are looking for better ROI and cash flow which can still be found easily in Calgary by comparison. Why even bother with a 2% cap rate in Vancouver/Toronto for a dog house built in 1939?!? Crazy that non-developers will do these kind of things.
If you need help or have questions about the market or anything else in real estate Contact us today we are here to help!
To your success,
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