Calgary Home Prices Firm Despite Weak Energy Prices

Diversifying Economy Is Helping In Keeping the Home Prices Steady According to a Report

October 21, Calgary: The effect of drop in oil prices on the real estate sector of Calgary is not as bleak as it seems. According to a report by Royal LePage survey, the diversifying economy of this city has helped in maintaining an assuring stability in the market. Thanks to this effect, the aggregate house prices have actually increased by 0.8 per cent from last year to $465,374.

Looking into the breakdown for median prices based on house types in Calgary, the price of single-family 2-storey homes increased by 1% on a year-over-year basis to $522,052 and condominiums saw a rise of 3% to $310,665. The report is part of a newly introduced Royal LePage National House Price Composite that considers house values in 53 of Canada's biggest real estate markets.

The drop in oil prices has entered its 15th month. But according to Phil Soper, chief executive officer of Royal LePage, this economic slowdown has been "offset by both renewed industrial activity in other parts of the country and the Bank of Canada's recent interest rate cuts.?

High rental rates in many communities of Calgary also compel people to consider buying their own home. Jesse Davies, a realtor who specializes in condo buying and selling across the city has helped quite a few clients in closing their transactions in the last quarter.

In words of Phil Jobs, a recent buyer, ?I am heading towards my retired life and always planned to live in an area with my friends close by. Having worked in Calgary in the early stages of my career, I decided to move back here for a peaceful living. Jesse helped me buy a beautiful condominium in my favourite neighbourhood and within my budget. I look forward to spending Christmas holidays in this new abode.?

About SW Homes for Sale

SWhomesforsale.ca is a real estate web portal owned by Jesse Davies who is a certified Condo Specialist in Calgary. Jesse is a born and raised Calgarian and this gives him up-to-date and in-depth knowledge of the city. He holds a Bachelor of Commerce degree and his wide range of skills including marketing, advertising, promotions, personal communications, and business negotiations make him an all around great Realtor?.

Jesse is also an associate broker at FirstService Residential Alberta Ltd located in Calgary. He is working towards his Accredited Appraisers Designation (AACI) in the Calgary area strengthening an on-going and persistent goal to continually keep his skills and education up to date for his clients? real estate needs.

Company :-Jesse Davies

User :- SW Homes

Email :-Jesse.Davies@fsresidential.com

Phone :-403-969-2363

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