Calgary Real Estate Market Report - February 2024

As we wrap up 2024, here's a quick look at what happened in November. Inventory levels continued to rise, helping balance demand. However, we’re still seeing price decreases as some sellers adjust from the spring’s high prices. Pricing your home correctly remains crucial—it's the key to selling quickly and for the best value. Here’s an example: I recently listed a home in Acadia at a competitive price, and within days, it sold for $30,000 over asking with seven offers—three of them unconditional. This just goes to show the power of strategic pricing in today’s market. If you’re thinking about selling or want to know more about the market, let’s chat ! Wishing everyone a joyful holiday season, and I’ll see you in 2025. Cheers to a bright and successful new year!

Sorry for the late November newsletter—I thought I had already sent it! You’ll hear from me again soon with my December update, so stay tuned for that. November tends to slow down as we move closer to the holiday season. Inventory levels have continued to increase, and we are seeing more price reductions as sellers adjust from the high prices we saw during the spring’s strong seller’s market. The market is becoming more balanced, though it still leans slightly in favour of sellers. I have an exciting new listing coming up in Acadia this week— reach out if you’d like more details or if you want to chat about what’s happening in the market!

Happy October, everyone! The leaves are changing, and the weather is absolutely gorgeous—such a lovely time of year! Let’s soak it all in before the snow hits. Here’s a quick update on the September market. We’re seeing more listings, especially in the entry-level price range (up to $600,000). It’s a bit surprising to think of homes under $600,000 as “entry level,” but Calgary’s benchmark price has now topped $600,000! We’re not in a buyer’s market just yet, but it’s definitely leaning more towards balance, with sellers still holding an edge—but nowhere near the extreme seller’s market we had this spring. Interestingly, we’re also seeing some movement in the $700,000 to $1 million price range. Plus, with interest rates dropping and potentially another cut ahead, I’ll definitely be keeping an eye on how that affects things. All in all, things are moving along smoothly. If you're looking to buy or sell, I'd love to help! Just give me a call . And a quick reminder—October is Breast Cancer Awareness Month, so throw on your pink and support those who mean the most to you.

I hope everyone is enjoying this lovely weather! Recapping the Calgary real estate market for August. We have seen supply levels increasing with more properties hitting the market, in part due to new construction. We have moved away from the extreme seller's market we experienced in the spring. The Bank of Canada has just dropped the interest rate to 4.25% so that's great news for buyers! Have a great rest of September and I'll see you next month!

Welcome to August! I hope you're enjoying a wonderful summer and the cooler weather. We saw more listings hit the market in July which has increased both inventory and time on the market. While it's still very much a seller's market, buyers now have a few more options to explore. We're also anticipating another interest rate drop in September, so it will be interesting to see how that impacts the market as we head into the fall. Enjoy the rest of your summer, and I look forward to catching up in September!

Welcome to July! I hope you're enjoying the wonderful weather after a fairly rainy June. Here's a brief recap of June: We experienced a slight decline in sales due to low inventory. However, sales of higher-end properties (above $700k) saw a slight increase. The benchmark home price also rose by 8.5% year-over-year to $608,000. As we move into the second half of 2024, I remain optimistic about continued improvements. However, we should anticipate a slower pace through the summer as people are vacationing and enjoying the beautiful weather. Have a great rest of your July, and I will see you again in August.

I hope you're doing well! It's been a busy month , but as we move into July, I'm optimistic things will continue to stay steady. Generally, summer is a slower time of the year. We have seen a small slow down but with demand remaining high multiple offers are still common. The Bank of Canada drop the interest rate by 0.25% which is helpful for prospective homebuyers . As always, if you are buying or selling I am very happy to help you out ! 

Welcome to May. April has come and gone and along with it we have seen another month-over-month price increase. Low inventory continues in the lower price ranges which continues to add pressure to market and increase prices. However, we have seen an increase in inventory in the above $700,000 range. We are remaining optimistic about lower interest rates. If you need any help buying or selling please give me a call !

Spring is here, and with it we are hoping to see some new listings hitting the market.