Spring is in the air and although Calgary has still not recovered from the boom of 2014, we have leveled off and hopefully seen real estate prices bottom out.
The Benchmark price of a detached, single family home in Calgary in March 2019 was down 5% (from 2018) to $475,800. Similarly, apartment style condos were down 2% to $250,600. Attached homes' Benchmark price was also down 5% to $314,500.
While some of this news is still worrisome, with the election looming and the season changing, we are seeing more motivated buyers and sellers enter the market. There is renewed activity this time of year as we get set for the busiest time in our real estate calendar year.
If you are looking to move up to a larger home or you are looking to buy a home for the first time, the conditions favour you. There are lots of great homes coming on the market daily, so please give me a call or email me and I can have an automatic search set up with your criteria so you will be notified immediately when a new home comes on the market or sees a price reduction.
If downsizing is in your future, now is also a great time to get your house on the market for the springtime rush. Many buyers are rejuvenated this time of year and are looking to move before summer holidays arrive.
As always, please reach out to me to discuss your options for a no-obligation evaluation of your home. I am also happy to provide a much more in-depth Calgary Real Estate Board statistics if you would like to delve in deeper.
I look forward to hearing from you...