Opportunities to “Move-Up” in this Market

According to the Calgary Real Estate Board, there were 511 luxury home sales in the city last year, down from a record 846 in 2014—the lowest level of sales for that price market since 2011. That being said, due to current market conditions prices have also declined, and are continuing to decline, making purchasing higher priced homes more affordable than in previous years. For buyers who are able to purchase and have mid to long range investment strategies in their home, this “move-up market” offers a very unique opportunity for people to get into homes that were previously anywhere from $50,000–$150,000 above their price range. Since real estate is cyclical, when the market returns and prices begin to climb, the value in such purchases will grow and may provide a lucrative return on investment. The current buyers market we are in is full of unique opportunities, and speaking to your REALTOR® and our financing experts on how you can make the most of those opportunities is always advised.