If you were to choose a theme for real estate in the Calgary area in 2012, perhaps it would be the "year of the pleasant surprise".

Heading into 2012, CREB® predicted an 11 per cent increase in sales, citing the persistent record low interest rates that have greeted Canada homebuyers since 2009 as a key contributor to the increase. Instead, the Calgary area experienced a 23 per cent increase in year-over-year sales in October and is headed for equally positive numbers by the end of the year.

Buoyed by net migration, job prosperity and low mortgage rates, MLS® sales in Calgary this year are expected to reach their highest level since 2007, before increasing even further in 2013.

As outlined in the Canada Mortgage and Housing Corporation's (CMHC) annual Calgary Housing Outlook Conference, which took place Nov. 20 at the BMO Centre, Richard Cho, CMHC's senior market analyst for Calgary, said sales in Calgary should increase by almost 16 per cent in 2012 to 26,000 units, rising by another 500 units in 2013 to 26,500.

There's another new bridge coming to town with a $25 million price tag and a fall 2013 completion date.

Much like the highly publicized Peace Bridge to the west, this new bridge is also set to span the banks of the Bow River, this time connecting Calgary's East Village to St. Patrick's Island and then onto the community of Bridgeland.

Already the focus of plenty of attention, Calgary's thriving real estate market will once again find itself under the spotlight at the 14th annual Calgary Real Estate Forum.

Taking place Oct. 14 at the TELUS Convention Centre, the forum provides insights into one of the hottest markets in Canada.