Winter market expectations
Looking at the market up to the end of October we've seen sales up 5.29% from last year and new listings also up 5.29% year to-date. The average home price in Calgary is also up 2.06%. Here's the BUT. September sales were down 1.22% and October's by 10.93% while the number of listings in both months has risen by about 10%.
Expectations for the next 90 days are for home prices to remain steady in the single home market and to remain softer in the condo market. Sales are projected to remain similar to last years levels. Sellers will need to be more aware of market competition and price accordingly, as listing counts rise.
Over all the Calgary housing market is fairing well considering the impact our oil industry has had on the over all economy. Markets change, but if you are buying and selling in the same market the gap between is your biggest concern.
For specific information on your home, drop us a note and we would be happy to educate you to your market area.
Leave a Comment