Seven Months and $18 Billion

Calgary's high end sales lead to a blockbuster year with the capital city selling 326 properties at a value of over $18Billion by July in 2007.

"Residential real estate sales in Alberta so far this year have ballooned to nearly $18 billion in total dollar volume, a jump of almost 36 per cent compared to a year ago, according to the latest data by the Canadian Real Estate Association"Read More

The Alberta market is incredibly active and constantly breaking records. The sale of high end properties of over $1 million reached 326 by the end of July. The prices of houses in the Calgary area rose from $398,870 in December 2006 to $505,920 buy July'07.

As it is often said Edmonton's market closely follows Calgary's and it isn't hard to believe that we will be seeing prices like this in Edmonton next year.