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.

Calgary Alberta Luxury Real Estate Update For June 2014

Luxury Property Sales of Single Family Homes in Calgary at the end of May going back until 2005

Year                                       # of Sales over $1,000,000

2005                                                    89

2006                                                   196

2007                                                   208   Thought to be the Top of the Market

2008                       `                          179

2009                                                     94   The bottom of the Market

2010                                                    149

2011                                                     195                                                                  

2012                                                    190

2013                                                    318

2014                                                    359

                                                                                                       

Interesting statistics for Calgary’s Luxury Market

These sales only account for sales through the Calgary Real Estate Board and do not include New Home builds, Condos or Country residential Properties.

In the darkest hour of the beginning of 2009 when everyone thought the sky was falling Calgary still outperformed 2005 Luxury Home Sale numbers.

The number of Luxury Homes sold in the beginning of 2007 was thought to be unduplicatable.  The Luxury home sales moving forward are about to be affected by the new CMHC Mortgage Rules. Canada Mortgage & Housing will cease to put mortgage insurance on $1,000,000 plus properties beginning soon.

If you are thinking to buy a Luxury Home with a large mortgage soon please get in touch with us right away. We can still get you into a Luxury home with a minimum down payment

Rod Forsythe

Rod Forsythe // Managing Partner // The Forsythe Group

Keller Williams Premiere Realty // Calgary Ab. Canada
403.777.1040 // Website www.RodForsythe.com

#1 Agent for Keller Williams in Alberta since 2010

Calgary Alberta Luxury Real Estate Update For June 2014

Luxury Property Sales of Single Family Homes in Calgary at the end of May going back until 2005

Year                                       # of Sales over $1,000,000

2005                                                     89

2006                                                     196

2007                                                     208   Thought to be the Top of the Market

2008                       `                             179

2009                                                     94   Thought to be the bottom of the Market

2010                                                     149

2011                                                     195                                                                  

2012                                                     190

2013                                                     318

2014                                                     359

                                                                                                       

Interesting statistics for Calgary’s Luxury Market

These sales only account for sales through the Calgary Real Estate Board and do not include New Home builds, Condos or Country residential Properties.

In the darkest hour of the beginning of 2009 when everyone thought the sky was falling Calgary still outperformed 2005 Luxury Home Sale numbers.

The number of Luxury Homes sold in the beginning of 2007 was thought to be unduplicatable.  The Luxury home sales moving forward are about to be affected by the new CMHC Mortgage Rules. Canada Mortgage & Housing will cease to put mortgage insurance on $1,000,000 plus properties beginning soon.

If you are thinking to buy a Luxury Home with a large mortgage soon please get in touch with us right away. We can still get you into a Luxury home with a minimum down payment

 Rod Forsythe

Rod Forsythe // Managing Partner // The Forsythe Group

Keller Williams Premiere Realty // Calgary Ab. Canada
403.777.1040 // Website www.RodForsythe.com

#1 Agent for Keller Williams in Alberta since 2010