- Joined
- Oct 24, 2007
- Messages
- 2,289
From CREB president Bonnie Wegerich
“The Calgary market is slowly shaking off its winter blues,” said Calgary Real Estate Board President, Bonnie Wegerich. “Spring has brought a nice uptick in sales this month and the supply of homes has been trending
lower. It is also the fi rst time that the year over-year decline in average price has started to decelerate—a sign that we are moving into a more balanced market.”
And also
“It is very encouraging to see the return of a more balanced market. Our inventory has come down dramatically— more than 20 per cent from the same time last year. If sales continue at current levels we are looking at about a four months supply of single family
homes currently on the re-sale market,” noted Wegerich."
My thoughts:
We are still seeing well priced homes selling quickly. Sellers are slower to come down in price and when they do it is for less $ than a couple of months ago. Most of the people `caught` by the quickly declining prices have been weeded out of the market and sellers now know what they are getting into when they put their property on the market. Buyers can`t expect to get everything in the deal anymore and will need to be a bit more fair.
That being said, there are lots of cash flowing properties on the market right now, and I don`t expect that to change for the next few months at least. If you have been waiting for the bottom of the market my personal thoughts are that it has arrived and will stay as is for the short term.
Northwest LRT
Ranchlands Single Family Home Mar 09
Ranchlands Condominium Mar 09
Silver Springs Single Family Home Mar 09
Silver Springs Condominium Mar 09
Dalhousie Single Family Home Mar 09
Dalhousie Condominium Mar 09
Brentwood Single Family Home Mar 09
Varsity Single Family Home Mar 09
Varsity Acres Condominium Mar 09
Varsity Village Condominium Feb 09
West LRT
Glendale Single Family Home Mar 09
Rosscarrock Single Family Home Mar 09
Shaganappi Single Family Home Mar 09
Westgate Single Family Home Mar 09
Spruce Cliff Single Family Home Mar 09
Spruce Cliff Condominium Mar 09
Overall Calgary Market
Citywide Sales Stats - last 24 months - Current to Mar 2009
“The Calgary market is slowly shaking off its winter blues,” said Calgary Real Estate Board President, Bonnie Wegerich. “Spring has brought a nice uptick in sales this month and the supply of homes has been trending
lower. It is also the fi rst time that the year over-year decline in average price has started to decelerate—a sign that we are moving into a more balanced market.”
And also
“It is very encouraging to see the return of a more balanced market. Our inventory has come down dramatically— more than 20 per cent from the same time last year. If sales continue at current levels we are looking at about a four months supply of single family
homes currently on the re-sale market,” noted Wegerich."
My thoughts:
We are still seeing well priced homes selling quickly. Sellers are slower to come down in price and when they do it is for less $ than a couple of months ago. Most of the people `caught` by the quickly declining prices have been weeded out of the market and sellers now know what they are getting into when they put their property on the market. Buyers can`t expect to get everything in the deal anymore and will need to be a bit more fair.
That being said, there are lots of cash flowing properties on the market right now, and I don`t expect that to change for the next few months at least. If you have been waiting for the bottom of the market my personal thoughts are that it has arrived and will stay as is for the short term.
Northwest LRT
Ranchlands Single Family Home Mar 09
Ranchlands Condominium Mar 09
Silver Springs Single Family Home Mar 09
Silver Springs Condominium Mar 09
Dalhousie Single Family Home Mar 09
Dalhousie Condominium Mar 09
Brentwood Single Family Home Mar 09
Varsity Single Family Home Mar 09
Varsity Acres Condominium Mar 09
Varsity Village Condominium Feb 09
West LRT
Glendale Single Family Home Mar 09
Rosscarrock Single Family Home Mar 09
Shaganappi Single Family Home Mar 09
Westgate Single Family Home Mar 09
Spruce Cliff Single Family Home Mar 09
Spruce Cliff Condominium Mar 09
Overall Calgary Market
Citywide Sales Stats - last 24 months - Current to Mar 2009