Updated: Wed Nov. 11 2009 17:26:07

ctvcalgary.ca

It could be another sign Calgary is on the road to recovery from the recession.

Realtors say buyers no longer hold all the cards which means the city's housing marked is more balanced than its been in previous months.

Jalene Grant's home in the neighbourhood of Coventry had multiple offers and sold within a week. The home also went for more than the asking price.

"I really didn't expect this at all. I really thought we were going to sit on it for up to six or seven months and then have to let it go for lower than we were asking for it," says Grant.

Realtors say, in the past month, Calgary has been experiencing more multiple offers on homes and the market is busier.

The real estate market rebound is being attributed to low interest rates and the drop in housing prices.

"I think mid-range and starter homes are seeing the most activity," says Roy Moore, a Calgary realtor.

Realtors say the housing market should continue to grow over the winter and be in a strong position by the spring.

Comments are now closed for this story

Pittsky
Believe it. I bought 4 months ago in Calgary. Today, houses very similar to mine in my area are going for $30,000 - $40,000 more.

James
I just bought a house and paid more then the asking price. There was one other offer above and one below the asking price. I'm glad I got in when I did.

El
I'm happy for the people who sold thier home and made a bit. Really though, Realtors = Speculators.

Okay
I don't believe it till i see it. Only 1 home can sell this fast and the media assuming every houses are selling fast.Oh please! what about 15 000 jobs lost last month? sometime media are full of it..... can't believe them anymore.

2 cents