This year, the Canadian real estate market continued along the road to recovery from its latest economic recession. Similar to the rest of the Calgary regional area, the Strathmore real estate market persevered in its recovery for 2018. The latest Calgary Regional Report for December 2018 published by CREB® reveals that sales were lower than usual by year end in 2018, and the average home prices dropped by the second half of the year.
In Strathmore specifically, prices remained fairly stable compared to 2017 but sales took a slight loss. Let’s take a more in depth look at how the Strathmore real estate market held up in 2018 and what this means for Strathmore homeowners.
Strathmore Real Estate 2018: How Did We Do?
To no surprise, the value of homes has been increasing over the past four years in the quickly growing, vibrant community of Strathmore. Since 2017, prices have seemed to level off according to the CREB® Calgary Regional Report as shown below. If this trend continues, we predict that 2019 will be a great year to purchase a home in Strathmore. Homeowners will be happy to see the value of homes in our bustling community continue to rise, and in recent years, leveling off every two years as demonstrated below.
Sales in Strathmore evidently were lower than average this year, however staying on trend with the majority of homes selling between $400,000 to $500,000. Statistics posted by RE/MAXReal Estate show the average home in Strathmore selling for $357,051, and compared to the rest of Alberta, those numbers look pretty great!
Overall, the town of Strathmore has proven to have a strong real estate market in the face of financial difficulty. Without any significant drops in price or sales, those looking to purchase a home in Strathmore and happy homeowners can be put at ease with stable market conditions. It has been a rocky couple of years, but the Strathmore real estate market has proven to be adaptable and resilient. Throughout any market changes, Strathmore will always remain a lively community and a great place to live.
Loreck Homes In Strathmore
After building in this community for many years, we have watched the Strathmore market in good times and bad. One quality of this town that never wavers is its friendly-nature, which is one of the reasons why Strathmore is one of our favourite communities! We think it will be yours too. We have several homes for sale in Strathmore that are looking for its new owners. We invite you to take a look at our homes for sale and explore the community of Strathmore!
Strathmore’s stable real estate market makes it a great alternative to living closer to the city of Calgary or further in the Wheatland region. Its wide open spaces and community enhancement plans for the future are going to steadily increase the value of this community. Get in on this hidden gem while it’s still affordable!
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