Things are looking promising when it comes to the home front in Calgary. Although residential real estate sales aren't as brisk at they used to be, business is picking up in Cow Town, and it is expected to do so in the rest of the province as well. Showing particular promise are homes with a value of $500,000 or less.
The chief economist with the Calgary Real Estate Board (CREB) says increased activity in Calgary is a sign that the market is starting to become more stable. Sales for homes with a value of $399,000 or less really started to take off, but pricier homes are still feeling the doldrums. There are fewer homes sitting on the market, and that adds to the positive news.
Sales are also increasing in Calgary when it comes to semi-detached and row homes. Sales for those increased by 3.8 and 8%, respectively, from this time last year. Realtors are welcoming the positive injection, and economists speculate that the good news will continue.
This is also good news for both buyers and sellers of real estate. Those who are considering a foray into the market may wish to consult with an experienced Alberta real estate lawyer who can shed light on what it will take to complete a solid transaction. A lawyer is good to have on one's side whether buying or selling real estate, since he or she can ensure that all transactions adhere to the letter of the law and that contracts are in the best interests of clients.