09/02/2022
Greater Calgary Market Update:
These are a few things I’m expecting to see:
1. The Greater Calgary Market to continue its strength. We have a lot of economic positives going on and we have a supply/demand situation that continues to stoke the fire.
2. We will see slight month-over-month price declines from now through to spring. I believe that, as a whole, we could see another 2-5% price easing before we commence with the next spring market. Most, if not all, will likely be felt in the detached market. As affordability continues to be a driver, more people will look to more affordable options like semi-detached homes, row homes & apartments.
3. Semi & row home market is very tight right now. You won’t see much in the way of deals at all. So much so that the sales-to-new-listing ratio has actually increased this month. Which simply means that the amount of sales relative to new listings is increasing.
4. Seasonally right now we will see fewer and fewer new properties come to market in the back half of the year. But this is happening while our sales are still near record high numbers. These two things coupled together will keep condos, rows and semis all in a seller’s market.
5. The comeback of the condo remains in full swing. Year-over-year sales are up 58% and this trend will likely continue. Watch this market continue to tighten as we proceed to Christmas.
How will all of this affect you in your decision in what to do about the house? Send a message, let's start the conversation!
