The Calgary Real estate market is quite the mixture of micromarkets currently. Generally speaking the numbers are in territory to the benefit of the seller, but at the same time I've been seeing some very great properties sit on market and selling for less than expected. Are folks listing too high thinking too far ahead? Is this price specific? Area specific? It takes details to review.
On the big picture, the current inventory is low and some buyers are finding little choice.
Properties are also selling on average closer to the selling price.
From Oct 1-2 (the last two days), 168 properties sold in the city of Calgary. 33 of those sold at or above list price.
That's hard news for folks shopping for a great deal as you just can't expect to pay 95% of list price for a home in this market especially at lower price points if it has been on market for 6 days. Setting the right expectations and looking at the right properties is part of the puzzle right now.
Of homes sold since Sept 15 the average days on market was 35 days. The median was only 22. When you consider that sale date is after conditions are removed, those are short windows.
Ok, at the end what do you get? Well, it was fun to play with numbers, but if you are in the market and you don't know some of this you may not be successful in being the winning offer on your ideal property. Selling is about more than running some numbers on a computer and picking a price.
It's time to get into details to ensure your plan is successful.