- Joined
- Oct 24, 2007
- Messages
- 2,289
So February`s sales stats are in for Calgary. Sales are up by a wide margin from January but still low from a historical standpoint. Prices have also come up a small bit. Both are signs that we are at or near the bottom of the market in my opinion.
Calgary Real Estate Board President, Bonnie Wegerich: “Sales are making some modest gains this month, prices are stabilizing and
our inventory absorption rate is improving,”
and also "I am encouraged by the improved affordability for buyers and signs that we are slowly but surely returning to a more balanced market”
What am I seeing? Well vendors that have put themselves on the market in the last two months know that they were doing so in a bad market to sell. As a result, most are tuned into the market conditions and are happy to wait for an offer close to listing price to make a move. Six to eight weeks ago we were getting bigger reductions due to vendors pricing themselves for the "old economy" but not getting anywhere and hence taking a big reduction due to the prevailing sentiment that the market was crashing. Not as much anymore.
Buyers are shopping around and are going for the places that are the best value. Pride of ownership has been an interesting selling feature - buyers don`t want renos or "to do" lists... and good deals are being passed over as a result.
Anyways I could ramble on, but I`ll stop myself and keep this post to the numbers. Any questions about other local markets or property specific stuff feel free to PM me.
Northwest LRT
Ranchlands Single Family Home Feb 09
Ranchlands Condominium Feb 09
Silver Springs Single Family Home Feb 09
Silver Springs Condominium Feb 09
Dalhousie Single Family Home Feb 09
Dalhousie Condominium Feb 09
Brentwood Single Family Home Feb 09
Varsity Single Family Home Feb 09
Varsity Acres Condominium Feb 09
Varsity Village Condominium Feb 09
West LRT
Glendale Single Family Home Feb 09
Rosscarrock Single Family Home Feb 09
Shaganappi Single Family Home Feb 09
Westgate Single Family Home Feb 09
Spruce Cliff Single Family Home Feb 09
Spruce Cliff Condominium Feb 09
Overall Calgary Market
Citywide Sales Stats - last 24 months - Current to Feb 09
Calgary Real Estate Board President, Bonnie Wegerich: “Sales are making some modest gains this month, prices are stabilizing and
our inventory absorption rate is improving,”
and also "I am encouraged by the improved affordability for buyers and signs that we are slowly but surely returning to a more balanced market”
What am I seeing? Well vendors that have put themselves on the market in the last two months know that they were doing so in a bad market to sell. As a result, most are tuned into the market conditions and are happy to wait for an offer close to listing price to make a move. Six to eight weeks ago we were getting bigger reductions due to vendors pricing themselves for the "old economy" but not getting anywhere and hence taking a big reduction due to the prevailing sentiment that the market was crashing. Not as much anymore.
Buyers are shopping around and are going for the places that are the best value. Pride of ownership has been an interesting selling feature - buyers don`t want renos or "to do" lists... and good deals are being passed over as a result.
Anyways I could ramble on, but I`ll stop myself and keep this post to the numbers. Any questions about other local markets or property specific stuff feel free to PM me.
Northwest LRT
Ranchlands Single Family Home Feb 09
Ranchlands Condominium Feb 09
Silver Springs Single Family Home Feb 09
Silver Springs Condominium Feb 09
Dalhousie Single Family Home Feb 09
Dalhousie Condominium Feb 09
Brentwood Single Family Home Feb 09
Varsity Single Family Home Feb 09
Varsity Acres Condominium Feb 09
Varsity Village Condominium Feb 09
West LRT
Glendale Single Family Home Feb 09
Rosscarrock Single Family Home Feb 09
Shaganappi Single Family Home Feb 09
Westgate Single Family Home Feb 09
Spruce Cliff Single Family Home Feb 09
Spruce Cliff Condominium Feb 09
Overall Calgary Market
Citywide Sales Stats - last 24 months - Current to Feb 09