Calgary Real Estate Blog

While we’ve definitely transitioned to a balanced market, as lower oil prices have cooled Calgary’s economy somewhat, it remains a great time to sell your home, especially if it’s valued at less than $500,000. The luxury market is taking a hit right now – if you’re looking for something in the $1 million-plus range, I can get you a great deal – but low interest rates are driving strong demand for detached, single family residences priced between $400,000 and $500,000, with many selling within a couple of weeks of listing for very close to asking price. The number of properties on the market in May 2015 was down by more than a quarter from previous years, and that means the best priced properties available will be snapped up quickly – average resale prices are down only 1.5 percent year-over-year.

Things are certainly looking more positive than they were a couple of months ago, and make me rather optimistic for how things will play out in the next six months. Yet more proof that our properly managed real estate market, backed by a reliable banking system, has warded off any hint of a housing bubble; the growth we’ve seen, while impressive, is both reasonable and sustainable.

To talk about your options in listing your own property, please contact me today!

Here’s a record I didn’t expect to see made: a week ago this last Friday, twelve homes sold for more than a million dollars each, at the end of a month that saw 67 percent more luxury homes change hands than in any previous month, ever. Even in the standard market, some are reporting homes selling for $100,000 over list price. Yep, it’s a seller’s market alright.

If you’re considering getting in on the fun as a buyer, I can’t recommend strongly enough that you secure a pre-approved mortgage before going shopping. When competing offers are involved, potential buyers without pre-approval are at a serious disadvantage, so a trip to your lender is a half hour well spent.

Those of you looking to sell, work with your Realtor (I’m available) to come up with an appropriate price for your neighbourhood and you should have no problems getting your home sold.