The official Calgary Real Estate board statistics were released for November 2015 with no surprises based on true day to day activity in the market. The Calgary real estate market is experiencing the consequences of the slow down in our economy and ongoing challenges in the oil markets.
Inventories are up and sales are coming down compared to the same period last year. The higher the price point, the more challenging it is for sellers to see interest in their properties. As we enter the quieter winter season of slower sales and some reductions in price, some investors begin to more carefully watch the market for opportunities in the new year.
The adjusted rates, benchmark rates, average rates and all the surrounding statistics you may read are great to determine the general sense of the market, but if you are selling you do need some detailed evaluation and advice. Now is not the time to over price a property to test the market if you truly wish to sell your home.
As a buyer, the coming months may be an opportunity to enter the market depending on the price point and type of property you are considering. As various market trends collide the pricing of some properties may align with your wish list.
Some articles on real estate purchases seem to treat homes like stocks. They are not. We all need a place to call home. Whether purchasing a home or renting, there are monthly costs and benefits to both depending on situations and goals. Should you be considering a move to a new property in the coming months do give me a call so we can discuss the strategies to assist you in finding the right house at the right price.
All the best this holiday season. Merry Christmas!!!! and all the best to you all in 2016.