Douglasdale: What’s up for 2012!
In the communities of Douglasdale Estates, Douglas Ridge and Douglas Glen, there were 203 sales in 2011, compared to 163 sales in 2010. The number of sales increased in each community (2010 sales in parenthesis): Douglasdale Estates 108 (94), Douglas Ridge 38 (28) and Douglas Glen 57 (41). Overall, the sales price remained about the same, $436,569 compared to $438,191 in 2010. Average prices in 2011 were: Douglasdale Estates $488,567 ($474,367 in 2010), Douglas Ridge $385,305 ($379,017) and Douglas Glen $372,221 ($395,663).
There were 2 homes in Douglasdale Estates that sold for over $1 million in 2011. In the previous year, there were none.
The local economy is rebounding from the recession of 2008. Net migration is increasing. Sometimes new families coming to Calgary will choose to rent initially. With confidence in the economy, we will be seeing more of a transition from renting to purchasing a home.
Through this year, we will be moving from a “buyers’ market” toward a “balanced market”. We anticipate that home sales and home prices will be up 2-3% from last year. With mortgage rates around 3%, this is an ideal market. Sellers who prepare their home in the best possible light and who price their home appropriately for the market will sell their homes. Buyers have the time and opportunity to research the market and should be able to find a home that meets their needs.
For more information on the market, call Meredith @ 403-669-2820.