CREB officially released the January numbers today: Residential real estate sales in the city of Calgary started the year on a positive note, increasing by 15 per cent over the same month in 2012. Pricing has moved up. Pace has increased a bit.
The vibe is that there just aren’t that many listings out there and they are lower than we are generally used to. Don’t get me wrong. There are listings, but buyers have been used to selection and get a little anxious when they go to look and there are few properties that match their search criteria. It is to be expected this time of year after a couple months of holiday/winter inventory levels.
I have noticed some quicker movement in the sale of some properties, especially those appropriately priced and prepared for sale. The lower price points see this more as the lack of rental inventory is causing more people to look at home ownership. This is less true in the middle zone. Luxury and estate homes sales records continue to peak as we are in Calgary after all.
That being said, I just sent a number of new listings today to one buyer, all of which were posted this morning and early afternoon. If inventory stays low, we’ll see some buyers making quicker decisions. If inventory starts to climb a bit, things should remain rather balanced. As always, real estate sees an ebb and flow and timing can be everything.
Last year, a bit of the same trend happened early in the year and then things balanced out. Hopefully there are no more changes to lending policies this year and we can see a more consistent pattern in trends. It seems though that we are looking forward to growth in the Calgary market in terms of price and activity.
We live in a great city. If you need some help finding a place to call home, then give me a call. I’m happy to help.