Road to Recovery

Calgary has seen a drastic change in consumer confidence both on the buying side and the selling side. Once again we saw a real estate market that continued to rebound in the month of October. Sales were up more than 50% from October 2008. We’re seeing increases in single family homes and in condominiums; a difference from last month where I noted that the condo market still wasn’t on the same pace as single family homes. However, I have also noticed a low inventory of homes for sale on the market. An increase of potential buyers with few houses to buy has created competitive offers/multiple offers for select properties that become new listings on the market. There is a huge demand out there for houses of a certain criteria, if you price it right you will sell it.

Goodbye Summer, Welcome Falll

The Calgary real estate market continues to be optimistic with consumer confidence improving and demand starting to once grow again. Not only have we seen an increase in average price of homes we have seen a drop in inventory as well. We are seeing about a 35% decrease in listings this time of year compared to last year. Not only are we seeing this consumer confidence in Calgary, we are noticing it across the nation. At this point prices are stable and it is no longer a buyer OR seller’s market. Million dollar homes continue to sell at a steady rate and the condo market seems to be improving in some areas. Hopefully, the fall weather stays mild and this trend continues into late October/beginning of November.