It’s that time of year again when we normally start to see sales drop off as we head into the fall and winter months. The overall market has moved into a much more balanced state. The days of the crazy multiple offer are diminishing unless of course, it is a hot property and/or priced aggressively. Approximately 38% of all September sales in Calgary sold for list price or higher. 18% of the properties sold for over list price with the assumption being that there were multiple offers on the majority of those sales. It is a good reminder for sellers as our market shifts downward to price fair out of the gate. A few factors effecting sales and inventory over the next could months is the up coming election in the US, world wide events such as the escalation of war in the middle east, oil prices (Alberta) and interest rate drops expected in the near future.
First time buyers should start to see some relief. For everyone else, it is all relative if you buy and sell in the same market.
