But…the uncertainty in the coming weeks and months may impact everything.
We are experiencing something new, something most of us have never had to deal with in our lives. I see many people trying to act like they know what the outcome of the current situation will be. Uneducated or unreasoned “guesses” are not helping.
The one thing we know is Real Estate. That is what we will focus on. People are still buying and selling homes. This has not changed.
The biggest observation so far, while showing activity is down, the people who are actively looking for a home are serious buyers!
Looking for detailed market insight for your community or on a community you are interested in – just let us know and we will prepare all the information you need to make the right real estate decisions! Click here now!
Absorption Rate: (0 to 2 months of supply is a seller’s market, 2 to 3.5 months of supply is balanced, and 4 or over becomes a buyer’s market)
- City of Calgary: 2020 – 4.6 versus 2019 – 6 months of supply
- Single Family Detached: 2020 – 3.9 versus 2019 – 5.1 months of supply
- Attached Homes: 2020 – 4.7 versus 2019 – 6.9 months of supply
- Apartment Condominiums: 2020 – 6.9 versus 2019 – 8.7 months of supply
Sales to New Listings: (Ratio of under 0.6 indicates more of a buyer’s market, 0.6 to 0.8 indicates a balanced market, and over 0.8 indicates movement towards a seller’s market)
- City of Calgary: 2020 – 0.48 versus 2019 – 0.44 sales for every new listing
- Single Family Detached: 2020 – 0.51 versus 2019 – 0.50 sales for every new listing
- Attached Homes: 2020 – 0.49 versus 2019 – 0.41 sales for every new listing
- Apartments: 2020 – 0.38 versus 2019 – 0.33 sales for every new listing
February Total Sales: Up 23% versus 2019
Year to Date Total Sales: Up 16% versus 2019
February New Listings: Up 14% versus 2019
February Total Inventory: Down 6.9%
February Benchmark Pricing: Down 0.8%
If you are considering a move, please let us know. We are happy to sit down and discuss your situation. What is your current situation/value of your home, what marketing program is needed to sell it for top dollar, and then what will the new purchase look like for you? What is your goal for buying, selling, or investing? We have the proven track record and experience to help guide you through the Real Estate process!
If you are thinking of buying, selling, or investing in Calgary and the Surrounding Area we are here to help YOU achieve YOUR real estate Goals! We have connections to the top professionals around the world if you are looking for Real Estate advice outside of the Calgary and Surrounding Area.