How Calgary’s Unique Demographics Have Impacted the Housing Market

There are many things that make Calgary stand out. Its economy, rapid growth, and unique career opportunities have been making headlines across the country over the last decade. It is a city that is moving forward in leaps and bounds. For those who have been here all their lives, Calgary is noticeably different from the one they remember.

Calgary is home to more than 240 different ethnic cultures and ranks third in Canada for cultural diversity. The majority of Calgarians, nearly 50%, are between the ages of 25 and 54. As of last year, the median age is just 36 years old. Family sizes are about the same over the last few years, meaning the number of children entering the school system is fairly consistent year after year. According to the 2011 census, the population is nearly an even split between males and females.

Having the largest segment of the population in the workforce has no doubt provided a positive effect on Calgary’s economy. Wages are highly competitive and disposable income is among the highest in Canada. Over the last year, we have certainly seen the real estate market respond to these trends. Demand is high, and buyers are driving the market into an upward swing.

The condo market saw the most significant increase over the last year, and new developments are at an all-time high. Calgary’s young professionals want to find a modern and trendy place to call home, and they are willing to pay a premium to be in the heart of the action. Suburban living is also a popular choice for young families or couples looking to settle into a community-like environment at a more affordable price. Calgary has expanded with sustainability in mind. Many of Calgary’s communities have everything they need within a short distance to reduce the strain on the major roads and improve the quality and convenience of life for its residents on the outskirts of the city.

July 2013 Calgary Luxury home update

After reviewing all of the sales above $800,000 there has been a significant rise in Luxury Home sales in the Calgary area year over year 2012-2013. When looking at the history of Calgary these sale numbers rival and exceed 2006 and 2007 unit sales numbers. An interesting note is 4 properties over $4,000,000 sold last month. With a good supply of inventory above $800,000 this could be a great time to get into a Luxury home in Calgary.

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Rod Forsythe

Managing Partner // The Forsythe Group // Keller Williams // Calgary Ab Canada

403.777.1040 //  www.RodForsythe.com

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