What’s Been Going on in the Calgary Market?

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Today we’ve got a market update for you, and all the latest stats for the Calgary market. It’s going to be a challenging market for sure, but we have some good news.

What we’re seeing lately is that our office has had the 2nd best February we’ve ever had, which is always great news. Another trend we are seeing is extremely low interest rates. People are getting used to the “new normal” of low oil prices, so now people are using that savings to buy homes while rates are low. People are also using these conditions to move up into nicer homes.

Let’s say you own a $400,000 3-bedroom home, but have 5 kids. You’re going to need a bigger house. One great thing about the current market is that there is a healthy demand for homes priced between $350,000 and $450,000. At the same time, homes priced between $500,000 and $700,000 have taken a hit in this market, and are being sold at a discount.

For move-up buyers, this means selling their home quickly for a little less than they would have gotten in the past couple of years. However, you can also then move-up and buy your new home for a lot less than you could have in the last few years.

We’re seeing a ton of activity at our open houses, and buyers and sellers are out there in the market ready to make moves. Things are really starting to stir, and we expect to have a really good 2016.

If you have any questions for us, don’t hesitate to give us a call or send us an email. We would love to hear from you!

Calgary Real Estate Market Update

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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!

The Market Climate Today in Calgary

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Selling a home? Click here for a FREE Home Price Evaluation 

Is it a buyer's or seller's market? It ultimately depends on who you ask. Right now, we are leaning towards a buyer's market. Still, it depends on what neighborhood and price range you're in.

Our current housing inventory is 21% to 25% higher than last year. Last year we had very low inventory, and it's common to see large gaps between 2014 and 2015's numbers.

Interest rates haven't changed since the last update. When the Fed increases their rates, Canada will most likely follow suit. Rising interest rates over the next six to twelve months will significantly affect the market. Once the rise is announced, people who have been sitting on the fence will jump into the market before rates go up again.

Remember, go to a real estate agent for information on the real estate market. Newspapers often present accurate information, but it's not always specific enough. A real estate agent can break down the market specifically and simplify it all for you.

If you have a question, give us a call or send us an email. We look forward to hearing from you!

Are Home Prices Rising in Calgary?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 

Today I want to update you on the real estate market here in Calgary. We're currently seeing a buyer's market in most price points. This is especially true for high-end homes.

Housing inventory is currently very high. The price drop in oil and gas has definitely played a role in our market, as we are an oil & gas city. This does affect the value of homes in the area, and condos have seen the biggest drop in prices. However, this doesn't mean that you can't sell your home. Prices have only dropped by a few points percentage-wise.

As far as interest rates go, they've never been this low. This gives you the opportunity to save thousands of dollars over the lifetime of your loan. If you haven't done so already, I urge you to get pre-approved so that you can take advantage of these rates. I don't think they could possibly get any lower.

Overall, if you're selling in Calgary you'll need to pay close attention to your list price and the overall condition of your home. If you're buying, you're going to have a lot to choose from and your experience will be a little more relaxed. You'll have time to wait when making an offer, so when you find a home you like don't be frightened to wait a day or two in order to make a decision.

If you have any questions about Calgary real estate, please don't hesitate to contact me. I would love to consult with you in order to plan a successful real estate transaction!