High River sees demand grow as buyers seek more space
High River has become a real-estate hot spot in recent weeks as buyers look for more space and bang for their buck during the pandemic.
Calgary Real Estate Board data from last month shows sales grew by 52 per cent compared to October last year. Among all outlying communities tracked by the realtor association, High River trails only Canmore for sales growth.
“COVID-19 has made people look at their lifestyle choices — their home needs and wants — and this is ultimately driving demand for homes in regions like High River,” says Tim Jones, owner/ broker of Re/max Prime.
He adds the sales growth is good news for the community of about 14,000 about 40 minutes' drive south of Calgary.
“The town is healing,” he says in reference to the devastating flood seven years ago. Investing in flood mitigation has brought confidence to investors seeking value in High River's lower prices for single-family homes and its close proximity to the city and the Rockies.
Besides its growing recognition as a vacation property community — though less of a factor in the pandemic — High River checks many other boxes for buyers, he says.
“The desire to have space” for a home office, home-schooling and for extended family are the key drivers of today, he adds.
Although raw sales numbers are modest compared with larger centres, demand is outpacing supply. Inventory, for example, fell by 33 per cent in October over last year. At the same time the town has seen only a negligible increase in the benchmark price, up 0.1 per cent to $323,500 — the lowest among bedroom communities.
Simply put, Jones adds: “High River real estate is a great investment opportunity.”