Over the last few weeks the Calgary real estate market has hit its usual summer lull. While folks head on holiday and out to enjoy everything that’s wonderful about an Alberta summer, the real estate market is continuing the seasonal trend in the background. While sales are down from last year so are new listings so that overall ratios remain balanced.
The amount of inventory available for buyers is very dependent on the area of the city and price point. I have ample options to show some buyers others are waiting on new listings as there is little out there that matches their needs. Active list pricing is absolutely no indication of the current sales price reality so please do not use active listings as an evaluative tool in reviewing your own property.
Economic indicators, oil prices and the global uncertainty continues to be at top of mind and folks are making careful decisions. Buyers are running numbers and some have chosen to buy below their thresholds or taken other conservative action.
What I find very surprising in this type of uncertain market, is the number of sellers that make no efforts to show their property. Be it either very restrictive showing times, very long response times for showing requests or just plain unkept properties. I’ve shown dozens of homes priced from the $200,000 to the $1,000,000 range in the last couple of months and was really surprised how many homes didn’t take care to address basic presentation issues:
1. Odours. It is hot. The odours from garbage, exercise gear and pets can get very strong. Do something about it.
2. Cleaning. This is showing 101. There’s nothing like dirty laundry strewn all over a master suite to turn off a buyer. Especially when viewing homes at $800,000 and up. Really?
3. Maintenance. If you present a home for sale that has obviously not been maintained then buyers will look at the other dozen options open to them or expect a discount. If it doesn’t come up at the offer it is sure to do so with inspection.
If you are in the market to sell your home then be prepared and work with a realtor that answers their phone. I’m not naming names, but one realtor took 3 days to answer our calls for information about a property. By the time they got back to us we had already moved forward on another home. We’re not on island time here 🙂
As always, if you have any questions about the market, your home or a unique situation that needs some guidance, please give me a call. I’m happy to help. You can reach me directly at 403 850 2446 or firstname.lastname@example.org.
Calgary Real Estate Market Updates - Receive monthly updates, develoment news and local real estate news in your inbox.