Calgary Homes Are Selling Faster and For More
Homes in Calgary are continuing to sell at a pace we haven’t experienced in some time.
We are continuing to see the days a Calgary home is on market go down. Simultaneously, the supply of Calgary homes is continuing to decrease. For those who have some knowledge about economics, this is the classic supply and demand principal being put in to action. As the supply of Calgary homes for sale continues to decrease it is going to put upwards pressure on Calgary home prices and reduce the number of day a Calgary home is on market. Prices are nearing record levels and homes are selling quicker than many of us have seen in years.
Here are a few statistics for the Calgary Real Estate Market up to this point in 2013
- Total home sales have increased 3.89% from 2012
- New listings have decreased 1.78%
- Active listings are down 19.30%
- Average sales price of homes is up 6.60% to $454, 116
- Days on market have decreased 18.18% to 36 days
What does this mean for the prospective Calgary home buyer or seller?
If these trends continue to follow this pattern, which all signs point towards, then it is a great time to think about selling your home if you want to try to maximize the value. On the other hand, this shouldn’t scare away buyers. Calgary still ranks as one of the top residential housing markets in Canada in terms of housing affordability. There’s no reason to think that prices will stop growing so there is no better time than the present to buy the Calgary home of your dreams before prices continue to rapidly rise.
If you are interested in looking for a Calgary property to buy, or looking to sell your Calgary home, please Contact Us. We would love to answer any questions you might have regarding the Calgary real estate market, the value of your home, what kind of Calgary property you are looking for…Anything we can help you with!