At the end of January 2017 we saw positive numbers across the board. Sales are up on average for the city of Calgary 24% and inventory is down -18%. This is comparing January 2016 vs 2017. It is clear that the tide has turned and the real estate market is stabilizing. This is represented in the graph above.
Here is how the individual sectors break down during the same timeframe and comparison.
Single Family Homes
Detached - Sales up 25% & Inventory down -27%
Semi-Detached - Sales up 17% & Inventory down -24%
Row/Townhouse - Sales up 30% & Inventory down -17%
Apartment - Sales up 17% & Inventory up 1%
As you can see three of the four sectors are trending in the right direction in both sales and inventory. Even the apartment condo sector has improved sales with inventory staying static.
With demand increasing and supply decreasing, we are seeing more buyers competing for homes and prices stabilizing. This is a great start to the 2017 Calgary real estate market and looks to be a solid foundation for the spring market only a few months away.
If you have been waiting for prices bottom out in the detached, semi-detached, and row/townhouse markets, it has happened. It is time to get out looking and be ready to buy.
If you are looking for an apartment style condo it is a still a sector to monitor, specifically the inner city market. If you do see a good deal, take it. We are close enough to the bottom for you to miss out on the right condo that fits your needs.
We specialize in helping people solve problems. We are not sales people, but instead trusted advisors.
Our goal is to help our clients make their dreams come true. We love what we do and have great energy that we pour into our business every single day. We bring a wealth of knowledge and experience to the table that our clients benefit from.
Contact us to see how we can help you!
David Jablonski - Team Lead - Jablonski Real Estate Group - Remax First
At the end of January 2017 we saw positive numbers across the board. S
"When it was time to sell my house I knew exactly who I was going to call - and Dave did not disappoint. From the second I texted him to signing the final paperwork, Dave advocated for me and getting what I wanted out of the sale of my home. He always made me feel like I was in the drivers seat but had a great co-pilot beside me to navigate and give suggestions on what direction to go! Dave was upfront and honest in all his dealings and made the process seamless and painless. I will definitely be using him to find my new house and would highly recommend him for the sale of your home!"