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Residential real estate may heat up according to commercial sales

The positive way the commercial real estate sector has been performing in Cow Town may mean single family homes aren't far behind. Residential real estate sales in Alberta have been cool at best lately, but commercial sales in Calgary have been steadily on the rise, which make some analysts believe residential sales might start to do the same. These deals, analysts add, show faith in the economy, so it may be likely homeowners will take heart. 

In the last quarter of 2018, commercial sales in Calgary amounted to $1.4 billion showing an 8 per cent growth over the same time in 2017. Most of the $3.7 billion in commercial deals in Calgary in 2018 were inked in the last quarter. Developers and investors say they are cautiously optimistic. And when potential buyers and sellers of residential real estate see commercial investors heating up the market, it may give them some hope the residential sector will continue to improve.

Prices are expected to improve as the economy rallies and that is good news for homeowners thinking about selling and homebuyers alike. Lower prices in the residential sector may mean more action. Analysts say time will tell what the market has in store as 2019 moves forward.

An Alberta lawyer experienced in real estate law can assist clients who are sellers or purchasers. A lawyer can review title search reports and other pertinent documents relating to residential real estate transactions or other real estate dealings. A lawyer can also review any potential contracts to make sure they adhere to all real estate laws and take into consideration the best interests of his or her client.   

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