There are opportunities to take advantage of the Calgary market this year. I’ve reviewed some numbers I’d like to share with you today.
The benchmark housing price has remained flat. Despite the low oil price economy, massive job layoffs, negative news, and political instability, this holds true. Last year was our best year ever, and today, we are at the same pace. We’ve been incredibly busy.
Today, we experience the best fixed rate and variable rate mortgage. It’s the most attractive these rates have been in over a decade! Take advantage of these and refinance. Consider trading up your home for a larger property.
The total sales volume is down. It’s down by 20% on average across the city and local region.
Current inventory is approximately a three-month plus. This time last year, it was at about 1.7 months. Although it doesn’t seem like a difference, it’s an 80% increase in the amount of time to list and sell properties in the market. This is an absorption rate, which means sellers need to be patient and price appropriately.
The luxury real estate market has collapsed. This time last year, we had nearly 750 homes sell over a million dollars. Now, we sell more homes with the $425,000 to $450,000 price range. That’s a 50% drop off in the luxury market.
If you’d like to add more or ask a question, please reach out! I can’t wait to chat soon.
Today we are going to be talking about why the holiday season might be the best time of year for you to sell your home in Calgary. We’ve got 5 reasons we are going to share with you today and as you’ll see, there are some unique benefits to listing your home during this time of year. Here they are:
Accelerated timeline. Deals get done quicker in the winter months. People who are out there looking to buy are serious about getting a deal done, and want to get one done so they can get their families moved in before Christmas.
Less competition. Every year, many home sellers remove their homes from the market when the fall hits for a variety of reasons. Without a huge amount of homes on the market, your home stands out more to buyers. Less competition equals quicker sales, better terms, and a better price.
Homes show better. Typically, homes that are decorated for the holidays show better during the holiday season because they are decorated to invoke feelings of coziness and family in a buyer.
More time. Buyers generally have more time to view homes during the holiday season because their kids have a reduced schedule and they have vacation time off of work as well.
New jobs and relocation. January is typically the month where employee transfers happen. Those people relocating here are looking heavily right now, and want to get a deal done before the end of the year and they start their new job.
These are just a few of the many reasons why selling during the holiday season is a good idea. If you have any questions, or are thinking about selling your home this winter, don’t hesitate to give us a call or send us an email. We would be happy to help out however we can!
