Having moved from the Great White North of Canada, specifically Calgary Alberta, to Santa Rosa, I still tend to keep one eye on what the state of real estate is from back home.
After a couple years of declining sales, largely credited to the fact that markets like Vancouver, Victoria and Toronto have growing housing bubbles, in the latter part of 2019 we saw things turnaround.
But before we get in to that lets talk a little about the lows from 2016 to 2018 and start of 2019.
In 2016 the Calgary real estate market was wallowing in a 20% decline in sales from the previous year and things were looking like the start of a housing sales slump. Despite this producing a favorable buyers market, sales still fell off a cliff.
And then things got worse…
In 2018 the numbers looked bleak and Calgary was 20% lower than the 10-year average.
Honestly I had incredible pleased buyers waiting with cash to buy cheap homes. Buyers with the fortitude to wait out the market to see through to a shift to sellers market.
The above quote comes from reputed Calgary’s best realtor Dusko Sremac of Real Estate Partners in downtown Calgary.
And then like clockwork and after an 8 year low run, Calgary’s real estate market saw its shift.
Albeit Calgary still couldn’t be considered a seller’s market per se, we are seeing trends showing they might be out of bottom.
If you’d like to research more on this trend, feel free to check out this incredibly informative piece referencing the RBC report here at Daily Hive.
So although it is true that I have really been enjoying my new life here in Santa Rosa, I do however still pay attention to Calgary given our various rental properties throughout Auburn Bay and Britannia, subburbs within the Calgary area. It is also worth noting that I still hold a Calgary realtor license.
What are your thoughts if you at all care about what’s happening to the north in our neighbor country? If you have any opinions please share them below and let me know. Until next time…”be cool be chill be you!”