The official word on the street is that the Calgary real estate market has moved toward balanced market conditions. What does that mean? Overall, the number of available listings and monthly sales are showing an overall balance between sellers and buyers. Well presented, well priced homes will sell for close to list price in a reasonable amount of time.
There is however a big difference based on location and price category. The upcoming inventory of new apartment construction seems to be a factor in that segment with a continued slowdown vs other property types. The luxury market also has a larger inventory base.
All that being said, it is really hard to find a good affordable home for folks. Things in the lower price point move fast.
The speculation about our market is rather insane. The thing that strikes me the most is that some folks seem to forget that residential real estate means homes. You can't just sell your house and wait out the market without somewhere else to be. Our rental market is very strong and rental rates are often higher than mortgage rates. Your choice is to buy, rent or couch surf.
If you are considering a move and need some real information regarding the value and market for your home just give me a call. I'm happy to help.