It is not a secret to anyone that Calgary is one of the largest and most prosperous regions in Canada.
It can boast of its leadership in the oil and gas industry, which obviously impacts the prices of real estate in Calgary. Before making your decision, it is worth looking into the whole range of building blocks & tips that to one degree or another brings to the table, the trends of Calgary real estate prices.
- Not only is «black gold» the item to factor in when talking about the prices, but also the seasons. For example, in winter the prices of real estate in Calgary show a downfall.
- The upcoming spring with its warming sunlight is the busiest season of the year.
- As statistics show, summer prices are higher than winter ones.
- Autumn is the best buying season for real estate prices in Calgary. It is the time when summer vacations are over, and the majority of people get back to their work and studies.
The chart below shows all the data from a historical perspective. Let’s have a look at them in detail.
Calgary real estate prices chart from the historical perspective
People say history repeats itself, and the history of real estate prices is a vivid example. Together we will have a look at the chart that can predict the future of real estate prices in Calgary. We have already learned that the prices of real estate in Calgary largely depend on oil prices. Comparing the two charts, we can see that both oil and Calgary real estate history have seen rises and plunges. Let’s check out Calgary's real estate prices graph and crude oil prices:
Definitely, It shows us the contrastive analysis of oil and real estate prices in Calgary for a period of thirteen years, which has lots of valuable data and tips for us. The first thing we need to pinpoint is that both strings on the Calgary real estate prices graph are almost synchronous. It once again proves the connection between oil and real estate. We all remember the economic downturn in 2008. On the Calgary, real estate prices graph it’s one of the most eye-catching elements showing a nose-dive. Slowly but unwaveringly, it started to grow in early 2012. Since then, up till 2014, the prices went up by 26%. With all this in mind, we can be sure that a steep takeoff soon follows every decrease in Calgary real estate.
Trends in Calgary real estate prices
As with everything in the world, starting with the fashion industry, Calgary's real estate prices have their trends. It’s already clear they mostly depend on oil prices. In its turn, oil markets can show us their tendencies as well. They go in cycles, where each cycle is 7-8 years. So are the real estate prices in Calgary. Tips to cap it off, we will overview the key trends in Calgary real estate prices.
- Oil prices
- Cyclic nature of oil market growth
- Spring is the hottest season in Calgary real estate
- Summer increase of the Calgary real estate prices
- Prices of real estate in Calgary see their fall every autumn and winter
- City area – another decisive factor in Calgary real estate prices
All these facts will come in handy for those who will decide to buy real estate property in Calgary.
Oakridge – the most hard-and-fast real estate prices in Calgary
The area of the city is one more point for you to factor in. As real estate prices in Calgary vary depending on it. Years of my experience can tell you about the absolute fact that Oakridge prices are the most stable. Oakridge area is also the most favourable for property investment. I can recommend it to you because of the higher property prices, which are relatively stable regardless of economic recessions and crises. Oakridge housing prices are changing but are the least influenced by various outer factors. Those, who dream about living in Oakridge, can benefit greatly from:
- Fresh air
- Mountain view
- Wonderful passways for walking around
- Shopping malls nearby
- Amazing safe playgrounds for kids
- Full range of infrastructure.