It finally feels like spring is here! Well...maybe...it is Calgary after all.
As we head into April and look forward to Easter, we've had a really interesting first part of the year in real estate. Our team has had it's best start since 2014. The market seems to have turned a bit of a corner in single family homes. Prices are flat, and inventory is not growing, which is a really good thing. Our Street View this month saw buyers come out of the woodwork once oil was over $50 a barrel. The supply is short in single family homes, so there was an urgent feeling to buy. We have noticed however, that since oil dropped below $50, our showings have slowed on our listings.
This business is such a psychological game...good or bad news stories can really affect the buying population on a week to week basis.
Condos are a different story. We're still watching the prices slide, and the inventory grow. It's a tough sell right now for apartment style homes, and sellers need to be very realistic about what is happening in their building. Overpricing a condo right now is a bad idea. It's just going to sit there and not sell. Condos are very much a "price per square foot" product, and you need to be really in line with what similar units have sold for, and apply that to your list price.
The full stats report is here if you are into numbers. Take a look.
We've got several events coming up in the next few months. We'll be holding a kick off to summer in May, and in June, we'll be doing our annual block party for YYC days. We hope to see you out!