Altadore real estate market prospects up
image resource: motorcyclees.com
A lot of people are surely wondering what’s the prospect for Altadore real estate after the biggest-ever Calgary flood last month. My simple and direct answer to that is Altadore is in a good place, literally and figuratively. Literally, because it’s high (its name means “hill of gold”) and thus, it got away scot-free from the flood. And figuratively, because Calgarians in lower-lying areas whose houses were devastated by the flood are either looking for houses to rent or are all together looking to move to higher ground [Calgary Sun headline on June 28: Calgary flood damage will force as many as 10,000 people from their homes for a long time (http://www.calgarysun.com/2013/06/28/calgary-flood-damage-will-force-as-many-as-10000-people-from-their-homes-for-a-long-time)]. And according to Timothy Haney, assistant sociology professor at Mount Royal University here in Calgary, a lot of the affluent areas were hit the hardest, so people in those areas will have the resources to rent or move (http://www.calgary-realestate.com/blog/calgary-flooding-hit-some-of-the-citys-wealthiest-neighborhoods.html).
But I’m getting ahead of myself here. First, let’s look at the Altadore real estate market before the flood. Most of the homes that were sold in June were new single-family houses (built after 2000), followed by condos, and an equal number of infills (single-family houses rebuilt on 1940-1970 fifty-square-meter lots) and townhouses. Here are the benchmark prices per type of housing in June:
Infill: $776,500
New single-family house: $871,914
Townhouse: $321,250
Condo: $334,380
The average prices of infills and condos rose from June last year, and those of new single-family houses and townhouses dropped.
I’m not even going to start telling you what were the average days on the market of these properties, as everyone expects all these figures to be wiped out now after the flood.
Altadore’s real estate market will have to get ready to offer homes quick not only to people hit by the flood, but even to migrants helping with the short-term relief and restoration work, all the way to those expected to flock to the city with all the long-term rebuilding that’s sure to happen. It’s going to be a seller’s market here for a long time. So my best advice to people looking to sell their home in Altadore: now is the best time; and to those who aren’t selling, you may want to consider renting out your house to the droves of people who’ll need a roof over their heads in the next few months. But if you need to do repairs first, do them quick! Hope you’ll stay tuned in to my update on the Altadore real estate market in September.
Know someone who is looking to make a decision in real estate? If you know any friends, family or co-workers who are looking to buy, sell or invest in real estate within the next six months, would you forward this email to them or reply with their contact information? I’ll send them important information about the Calgary, AB surrounding area real estate market and politely ask for their business. I greatly appreciate your valued referrals; it’s the only way I build my business.
About Bryon
Bryon Howard is a top-producing real estate agent with Re-Max House of Real Estate in Calgary, Alberta. He is in love with his high school sweetheart, an enthusiastic Dad and crazy about endurance sports. To learn more about Bryon and his real estate tips, head on over to his website.
Tags: Altadore homes for sale, Altadore houses for sale, Altadore Real Estate
