September Sales About 20% Below Long-Term Averages….Is It Time to Buy?

In every market there are opportunities. We are seeing many buyers starting to take advantage of the tremendous buying opportunities in the market.  These buyers see that real estate is “on sale” in our area right now and want to buy before interest rates increase and the economy recovers.

Here are the key monthly numbers to consider:

 Absorption Rate: (0-2 months of supply is a seller’s market, 2-3.5 months of supply is balance, and 4 or over becomes a buyer’s market)

  • City of Calgary – There is 6.25 months of supply.
  • Single Family Detached – There is 5.5 months of supply
  • Attached Homes – There is 7.35 months of supply.
  • Apartment Condominiums – There is 7.7 months of supply.

 Sales to New Listings: (Ratio of under 0.6 indicates more of a buyer’s market, 0.6-0.8 indicates a balanced market, and over 0.8 indicates movement towards a seller’s market)

  • City of Calgary – There are 0.41 sales for every new listing
  • Single Family Detached – There are 0.44 sales for every new listing
  • Attached Homes – There are 0.36 sales for every new listing
  • Apartments – There are 0.38 sales for every new listing

 Year to Date Total Sales:   Down 14.2% versus a year ago

 New Listings:  Up 3.5%

 Year to Date Total Inventory:  Up 25%.

Understanding your goals when selling a property and implementing a custom pricing and marketing campaign to achieve those goals is our focus.  What is happening in your specific market.  Understanding the community dynamics and the nuances of your specific property type, are crucial to the successful sale of your property.  With over 21 years of experience in both up and down markets, our Team has the experience and resources to make your next move a successful one!

Making sure you BUY RIGHT, is our focus.  Understanding the market niche you are interested in makes all the difference between buying the property that achieves your goals versus one that doesn’t quite hit the mark.

Our Team has developed additional resources to make sure our clients understand the market, the local community, and the specific valuation for the property they are interested in.

Give us a call to put this new program to work for you!

Calgary Real Estate Stats September 2018