It's like chasing a bus that just left the bus stop.....A street view of Calgary Real Estate

It's like chasing a bus that just left the bus stop.....A street view of Calgary Real Estate


Here we are...the start of Stampede already. Halfway through 2018...yikes!

It's been a bumpy ride in real estate this year to say the least. Rising interest rates, mortgage rule changes, blah blah blah..it's been the same story since January. Buyers are leaving our market in droves, and listings are ballooning. Honestly, selling a home right now is like chasing down a bus that just left the bus stop. You've got to run fast, flail your arms around, and hope you get noticed. 

Here are the Coles notes on the stats for the month of June. Sales are down another 11% and inventory has ballooned to almost 5 months. What's interesting is that the prices on average have not dropped drastically for what is selling...yet. I believe we are on the edge of the cliff. If the inventory stays at current levels, and sales stay low, there will be a movement of people that just want to get out, and the dominoes will start to fall.

 
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If you are a seller in this market, you need to be ready to take what you can get and move on. The longer you sit, the less you are worth. Be ready to be aggressive on your price, and basically purchase the next buyer. Purchasers are a precious commodity. You don't want your neighbour to beat you to the next one.

Buyers...there is no need to rush. Take your time until you find something you really like. Once you do, go get it!

On the plus side, it's Stampede!!! I hope you have a fantastic 10 days, and that you enjoy the greatest outdoor show on earth. The weather looks amazing! 

You can read the detailed stats report in the link at the bottom of the page...we'll talk to you next month!


 
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Profile Image Ken Rigel
Team Lead
Ken Rigel Group
Work: (403) 835-6338
ken@krgroup.ca
www.krgroup.ca
Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
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