The real estate market warmed up through the summer, and some experts say it's not cooling down yet.

Century 21 Foothills Real Estate Owner Blair Gordon says there's plenty of fire left in the Foothill's housing market.

"The market remains exceptionally active. Through October prices did trend down a little bit, but it's important to note that on a year-to-date basis, residential prices have improved by around 10-11%."

He says High River specifically is seeing low inventory, which is driving prices higher.

"There are only 15 single-family homes for sale right now in High River, and we seem to get one on the market and it sells so quick. We're still about 30 days on the market as an average right now, yearly we're on an average of 57 days on the market."

Because of the fast turn-around, Gordon says it's wise for sellers to have a backup.

"Make sure if you are selling, that you've got a place to go as there are very limited opportunities for rentals and limited opportunities to buy." He adds "People might be saying they don't want to buy because of the higher prices, but if you're buying and selling in the same market it probably doesn't matter. You still have to make sure there is something to buy if you are selling in case your home goes way quicker than expected."

The pace of housing demand continues to exceed expectations according to Gordon, and he says low-interest rates are making that much more appealing to buy now.

"I don't think they could get any lower, and banks continue to threaten to increase interest rates to battle inflation which I could see an increase towards the end of next year, but people are taking advantage of it now."

Not only are buyers taking advantage of low-interest rates, but they're also looking to win on prices, even if that means living outside the city.

"High River is kind of one of those best-kept secrets. We've got so much to offer here with the hospital, good schools, and slower lifestyles, and of course price. If you look at a price of a home between Calgary and Okotoks, Okotoks will be lower, then you compare Okotoks and High River, the prices get even lower, and even our offices in Claresholm and throughout the Foothills area they're all experiencing above-average sales activity and the further south you go, it seems to get even cheaper."

Gordon and his team are expecting to see an influx of buyers soon, going by what happened in 2013 in High River after the floods where many people sold and bought elsewhere.

With the costs sky high in BC, Gordon says he believes many of those who have been displaced may turn their eyes to Southern Alberta, and the Foothills Area. 

The reason for the real estate madness, says Gordon is the combination of low-interest rates, low supply of properties on offer, and high demand from a large number of people looking to buy. 

 

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