Sotheby’s International Realty Canada expands to Calgary

Sotheby’s International Realty Canada Enters Calgary Market

Alberta is expected to be one of the best economic performers in the world this year, with the Royal Bank of Canada pegging GDP growth at 4.3% and the Conference Board of Canada predicting that the province will lead Canada in growth for 2011. With Albertan homebuyers driving demand in key Western Canadian real estate markets and with investment opportunities abounding in the province itself, Sotheby’s International Realty Canada has expanded into Calgary.

The new Calgary office has launched at a time when improvements in the energy sector are anticipated to promote stronger job growth in the second half of the year, providing the foundation for continued strengthening in the real estate market.

According to figures released in March 2011 by the Calgary Real Estate Board, Calgary single family home sales in the first quarter of 2011 were 3,309, a 4% increase over the first quarter of 2010. The combination of stable home prices, low interest rates and year-over-year improvements in employment are the primary factors fueling the growth.

“Calgary is a strategically important real estate market, and our presence represents a key step forward in our growth across Canada,” said Ross McCredie, President & Chief Executive Officer of Sotheby’s International Realty Canada. “We’re looking forward to offering our clients in Calgary the highest caliber of real estate service, as well as local and international marketing solutions that are unrivaled in their ability to market Canadian homes to the world.”

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