Your Calgary Real Estate Market Update
Although winter wore out its welcome in the Calgary area, the real estate market didn't waste any time heating up for the spring market. It has been a busy first quarter in 2014, and we are shaping up for another exciting year. According to the Calgary Real Estate Board, average home prices have experienced a steady increase by about 5.5% over last year.
The major difference between the current market compared to the 2013 spring real estate market is the number of listings. Although there are many people interested in buying their next home, the reduced inventory is creating a challenge. The number of single family homes on the market have decreased by about 20%.
So what does this mean as a buyer? The reduced inventory is causing single family homes to sell much quicker. If you find a home that you love, it's a good idea to have your financing in order so that you can act quickly. If you don't find a home right away, don't be discouraged. As the weather warms up, more listings will come on the market, and you should have no problem finding the right home for you. If you are in the market for a condo, there is actually an increase in available listings, thanks to new developments around the city.
If you are thinking of selling this year, this is a great time to take advantage of the reduced inventory and list your home as soon as possible. Listings are selling much quicker, and buyers recognize that they need to be competitive. A shorter sale period will alleviate the inconvenience of showing your home for an extended period of time.
With a healthy economic forecast, low mortgage rates, and steady employment data, Calgary continues to be one of the best cities in Canada to invest in real estate. There is a mix of older traditional homes, new developments and condominiums on the market. This summer could be the right time for you to find your next home.
Are you buying or selling a home in Calgary? Do you want an agent who has the enthusiasm and energy to get things done, with your best interests in mind at all times? Contact me at 403-617-8758, firstname.lastname@example.org or www.kellymacdonald.ca and let's make good things happen!
About Kelly Macdonald
Kelly Macdonald is a realtor with The Real Estate Company in Calgary, where she has been living (and loving it!) since she was 10. Kelly offers her clients a unique mix of youthful vigor, creativity and technical and design savvy on one hand, and professionalism and transactional expertise from her business degree and strong administrative background on the other. Kelly is also a devoted wife and mother of two, with whom she finds time from her busy schedule to play scrabble and walk by the beautiful lake of their home in Southeast Calgary.