Spring Market Trends
Monday, May 9th, 2016
RE/MAX has released its annual Spring Market Trends report, which gives a good look at how Calgary’s market compares to the rest of the country, and predicts what the rest of 2016 will be like. It’s available here, and I suggest taking a look if you’re thinking about buying or selling this year.
Of particular note is the slowdown in residential construction across our city, which should help the resale market absorb its abundance of inventory. Further, we’re likely looking at a slight increase in average selling price by the time 2016 comes to a close. For April, we had an increase in both the median and the average selling price, with the total number of sales only dropping about 10 percent from last year, so don’t believe the pessimists who think our real estate market is in a serious decline; it remains, and will remain, strong.
The next couple of months are typically the busiest for buying and selling, so if you’re considering putting your property up for sale I’d suggest getting on it sooner rather than later. The unseasonably warm weather has prospective buyers out and about more than they might’ve been in a more typical spring, and that means your For Sale sign can have even more impact. Contact me today for an assessment of your property, and maybe some suggestions on enhancing your curb appeal for those evening strollers.
