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With the oil and gas economies taking a hit lately, the real estate market in Calgary has done the same. Unfortunately, home prices may see a 5-10% decrease. This depends on what neighborhood you're in and what type of home you're trying to sell.
If you're thinking of selling your home, then here is what I suggest that you do:
- Get your house on the market as soon as possible to avoid the typical spring rush
- Sellers will come out in droves during the spring, so list your home now to avoid the rush of homes
If you're looking to buy a home, it would be a great time to do so. Prices are falling and interest rates are extremely low.
If you're going to sell and buy, don't worry about getting less for your home because you will also be paying less for a home when you turn around and buy one. That should lessen the sting of the market downturn.
So, get ready for the market in 2016. It could be a little rocky, so prepare to weather a little storm ahead.
If you have any questions or concerns, please don't hesitate to contact me!