So what is going on here in
The biggest recommendation I can make to clients is to be
informed and have realistic expectations regarding time on market and
price. Long gone is the day where the
price was the starting price, and increases in value were measured as an hourly
rate. However, conditions are ripe for
buying and selling in
So far this month in
From August 1 – 27th, the date at which I am researching this data, in 2006 there were 145 reported sales, an average price of $250,490 and days on market of 23.
Don’t let the rumor mill sway you from buying today. In fact the time is fantastic for buyers. The interest rates are still low at 5.74% for 5 year rates with anticipated rate increases having been put on hold. The financial reports from the province state that we have a surplus. Not just a little one either, this despite large increases in spending by the province.
On a local level, Penhold is the little town that can. Penhold has been lagging behind in growth in
comparison to Blackfalds, and
The biggest benefit to buyers today from 2006 is selection. The market is definitely more competitive with more offerings for buyers in every price category. Buyers can breathe, and make a decision this year. A welcome change from last years bidding frenzy.
Those conditions were exciting for sellers no doubt, but this year it is equally as exciting. Today sellers have the luxury of trading up or downsizing without hesitation or fear of homelessness. Many residents in 2006 were skeptical of selling as it was indeed hard to find a home. In 2007 we are seeing more and more home owners moving up with confidence.
Other notable indicators of a healthy economy, as reported from the provinces economy update:
motor vehicle sales in
rose by 3.4% in June Alberta ’s shipments still rose by 3.8% in the first half of the year, mainly due to increases in petroleum and coal and chemical products. Alberta
- Nymex Natural Gas C$/MMBtu * September Contract August 17, 2007 $7.55, up from August 10, 2007 $7.09
It’s a great time to live in
Move with confidence call us at Century 21 Advantage today.
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