At the start of each new month we summarize the key points from the Calgary Real Estate Board’s (CREB) report on what happened in Calgary real estate the previous month.
Many people do not like reading about statistics. The numbers seem confusing and convoluted, sometimes manipulated to produce a specific result. They leave many people feeling frustrated and even more uneducated than they were to begin with. However, when it comes to CREB’s report, we guarantee credible, clear, helpful information. CREB is a fantastic resource for buyers, sellers, investors, agents, etc.. If you are looking for information on the real estate market, they should be your #1 resource.
There is an important reason why we consistently relay the CREB report to you: education is your best friend, next to your Real Estate agent, when it comes to making wise decisions regarding your real estate endeavours. Knowing the market enables you to have peace of mind regarding your decisions within the market. Knowing trends within the market can help you make long-term plans that will be essential to your financial success. The only people who are successful in navigating the real estate world are those who are educated on what is going on.
We want to make real estate market education accessible to everyone. We do this by advising our clients and keeping people updated on what is happening in the market.
So, here’s the run down of what happened in the market in December 2016:
Sales are up and inventory is down compared to December 2015. This is a great indicator of the market’s recovering from the hit it took when the economy dropped.
Benchmark prices are at $435,400, which is slightly lower than last year. Again, this is okay given market conditions. Last year sellers stubbornly refused to lower prices as they waited for the market to instantly recover. It didn’t. Prices are finally reflecting the market conditions, sitting comfortably in a spot that benefits buyers and sellers.
In more good news, the average time for a home to be on the market is four months, which has dropped from approximately five months in 2015. This is great for buyers and sellers!
Have questions? Check our www.creb.com for more information or/and call us! We would love to partner with you as you begin your real estate journey.
Your Real Estate Professional,