The August Calgary real estate numbers are out and reflect the current economic climate. Signs are up longer than earlier this year with fewer reported sales than this time last year. The turnover, however, really all depends on price point and location. If you are looking for that great detached home under $500,000 it isn’t a buyer’s market.
As of right now there are 930 active detached homes in the city under $500,000. However 587 such homes have also sold in the last 30 days. That is seller territory. Now break it down by area and the numbers shift.
The apartment segment is seeing the largest number of available options. With both resale and new construction options out there it is a great time for a buyer to review their rent vs buy numbers. Just remember not all builders are created equal so get the right guidance before jumping forth and maybe have your lawyer read the paperwork.
With the election on the horizon and so much rhetoric out there that is more political than reality let us all pull out the crystal ball to predict where things will settle in the coming months. This is Calgary after all.
If you need detailed information to make an informed decision regarding your real estate needs just give me a call directly at 403 850 2446. I am happy to help.
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