2020 Looking to be Good for Real Estate in Canada

Throughout 2019 we witnessed some incredible real estate market trends across major metros throughout Canada. We saw Vancouver house median prices drop slightly while cities like Calgary have risen.

Housing bubbles have been the buzzword of the past 5 years in Canada, particularly in relation to metropolitan areas like Toronto and Vancouver. It is therefore important to clarify what an actual housing bubble is.

calgary
Graphic courtesy of Galvan – a Vacation Rentals in Playa Tortuga company

A housing bubble, also referred to as a housing PRICE bubble, takes place in two phases. Phase one is when the median home values rise drastically producing a moment of time where purchasing for first time homebuyers is increasingly more difficult. During the second phase, a housing bubble will sudden crash with home prices dropping at a surprising rate leaving homebuyers will mortgages valued more than the home itself.

Now that being said, many Canadians have seen certain housing bubbles like that in Toronto, Victoria and Vancouver, blow the roof off and as results of that, making first time homebuyers look elsewhere.

Cue Calgary.

With a population of over 1.3 million, Calgary offers up a platter full of fantastic amenities for families looking to buy their first home or those looking for more ‘bang for their buck’.

There are many great neighborhoods around Calgary and any one of them would be great to raise a family but according to Dusko Sremac of Real Estate Partners, these are the hotspots people are migrating to in droves.

calgaryAuburn Bay is a quaint lakeside community offering its residents a wealth of nearby amenities like schools, rinks for hockey etc, tennis courts, parks and an incredible beach. Auburn House is a large 7000sqft complex run by the Auburn Bay Residents Association that hosts events, classes and special functions for residents of this community. For information on homes for sale in Auburn Bay click the link.

Next we have the neighborhood of Cranston. Here to residents have Century Hall, a community centre for local events etc, many parks and some up and coming commercial plazas. Cranston is a master planned residential community. Cranston homes for sale average from around a cool million because…lets face it they are in demand.

Another popular area around Calgary is Bridlewood. Located southeast of Calgary, this quaint small town feel neighborhood appeases to many. Widely recognized as one of the best family-oriented neighborhoods, Bridlewood boasts over 12,500 citizens. Here it is easy to find homes for sale in Bridlewood for around $400k.

So as you can in general Calgary, and it’s various neighborhoods, has plenty to offer as prices continue to rise in other metro areas of Canada like Toronto, Vancouver and Victoria.

For more information on Calgary in general, visit https://www.visitcalgary.com/