The latest stats are in! You do not want to miss out on this opportunity to get the inside scoop on Calgary's real estate market.
Here are the recent highlights from the Calgary Real Estate Board that you need to know to be successful for the current real estate market:
- Citywide benchmark prices edged down over previous months by 0.8 per cent and are 2.4 per cent below last year’s levels.
- Citywide sales totaled 1,490 units this month, down nearly seven per cent from last year and 14 per cent below long-term trends.
- Sales and price declines were not consistent across all districts and product types. Prices have recently trended down across most areas based on year-to-date figures, but have remained comparable to last year’s levels in the City Centre and West districts of the city.
CREB® chief economist Ann-Marie Lurie reports, "Calgary’s employment market has persistently high unemployment rates at 7.9 per cent and recent job losses in full time positions. The struggles in the employment market are one of the factors weighing on our local housing market. A slow recovery in the energy sector combined with tighter lending conditions and competition from the new home sector are also contributing current housing market conditions.”
CREB® president Tom Westcott notes, "both buyers and sellers need to be realistic about their objectives. Buyers need to be aware that price changes differ depending on what and where you are buying. The decline in sales does not mean price declines across the board. Sellers need to be well informed to be competitive. They need a good understanding of what has been selling around them and how their property compares to homes that have successfully sold.”
We understand how overwhelming all this information can be, especially if you're new to the world of real estate. Making the choice to buy, sell or invest is a major decision and you want to ensure you make the most educated one possible. Let our experience be your advantage; we are here to answer all your questions or simply talk through your options.
Call Team Ken Richter today at 403.630.6363!
Your Real Estate Professional,