Is the Market Turning Around?
I was looking at the Calgary’s real estate statistics for November, and it would seem we may be seeing some positive trends as far as how supply and pricing are moving. For over a year now, the city’s resale market has seen an abundance of listings as people look to downsize or simply move somewhere with better employment prospects, and that increased selection has put downward pressure on prices. Having tonnes of properties to compare is great for buyers, but can be frustrating and discouraging for those on the selling end. The last couple of months have marked a change in that trend, as the number of new listings went down 9 percent in November and a whopping 23 percent in December, while the number of active listings declined an average of 8 percent per month over the same period. At the same time, both median and average prices have continued to increase.
What this means for the average seller is it will be a little bit easier to stand out in the crowd, and the pressure to compromise on price has lessened. We’re still a far cry from the fast times of a few years ago, when many homes were selling for above-asking price before the For Sale sign could be pounded into the front yard, but it’s certainly positive news.
I expect this could be a sign of things to come, as our economy starts to scratch its way back toward growth, employment numbers improve, and our city gets back on its feet. The coming year could be the best year to sell your home that we’ve seen in awhile.
If you want to start hammering out a sales strategy for 2017, please contact me!
Also, the Calgary Renovation Show – a great place to get inspired – is less than a month away, and I’ve got a 2-for-1 ticket promo code for you! Simply visit this link and use the code 1MONTH to take advantage of the deal. Just make sure you do it before December 28, when the code expires.
Tags: calgary housing market, calgary real estate, calgary real estate statistics, calgary renovation show, calgary renovation show coupon
