Real Estate prices continues to climb in all sectors of the Foothills Region of Alberta. Inventory shortages, lower new building permits being issued, big net migration of people to our region has created the perfect storm for our current real estate market. High interest rates have changed what people buy, however, relative to many other parts of Canada, real estate is still cheap here which is what is pushing up prices. From 2019-2022 our region did not see the price gains that the rest of Canada saw so it many ways, we are just catching up. There is one bright spot for buyers however. If you have over $1.5 million to spend, there are some deals to be had. In the Foothills County, there are 64 acreage homes for sale over $1,500,000 with only 4 sales in June. The city of Calgary has 210 homes for sale over $1.5mil with 52 sales in June. To find out more market specifics as it pertains to you, contact Tim Jones as he would be happy to explain things further.
