The housing game in Wild Rose country's two largest cities paint a very different picture. It seems that real estate sales in Calgary are up, while they're down in Edmonton. Some other areas of Alberta saw year-over-year increases in sales according to a report from the Alberta Real Estate Association (AREA), but sales in the provincial capital eased slightly due to a decline in homes on the market.
Sales in Calgary this January, compared to Jan. 2019, were up by about 12%, but new listings fell by 8%, according to AREA. It's still a buyer's market in Calgary, which saw a decline in housing prices in Cow Town. But analysts are saying the market is beginning to adjust and home price declines are beginning to ease.
Meanwhile in Edmonton, there were less sales this January compared to Jan. 2019. But there is good news on the horizon since median prices rallied from last year and benchmark prices eased. Prices in both areas continue to remain lower than the highs seen in 2014.
A knowledgeable real estate lawyer is essential for both buyers and sellers of property in Alberta. A lawyer can prove invaluable in a real estate transactions and may be able to offer advice on a wide range of matters from drafting agreements to resolving complex disputes involving real estate. For many people buying and selling a home or other type of real estate will be one of the biggest transactions they will make and having the representation of a skilled lawyer may help those transactions to occur smoothly.