Market continues to favour the seller in October

 

City of Calgary, Nov. 1, 2021 - There were 2,186 sales in October, a record high for the month and over 35 per cent higher than longer-term averages. Year-to-date sales are on pace to hit new record highs and are currently 61 per cent higher than average activity recorded over the past five years and 42 per cent higher than 10-year averages.

“Moving into the fourth quarter, the pace of housing demand continues to exceed expectations in the city,” said CREB® Chief Economist Ann-Marie Lurie.

“Much of the persistent strength is likely related to improving confidence in future economic prospects, as well as a sense of urgency among consumers…

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Imagine a kid running a lemonade stand. He’s selling his product for 25 cents a cup. He’s doing okay. Sales are good. Then someone comes up to his stand and says, “I’ll give you 50 cents for a cup. But, I don’t have the money right now. Give me the lemonade and I’ll pay you later.”

Should he take the deal?

Chances are, you’d advise against it. After all, just because the price is high — in this case, double — doesn’t mean the offer is a good one. There’s a chance the customer won’t come back with the promised 50 cents!

That’s a simple example but applicable when considering multiple offers for your home. Yes, the offer with the highest price is often the one to accept, but there are situations when that’s not the case.

For example, you…

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JUST LISTED! OPEN HOUSE SUNDAY, OCT 24th, 2-4 PM 261213 Valley View Road, Rocky View County View the video here: https://www.youtube.com/watch?v=n333Lw216gw Visit here for full listing details: https://www.peshketeam.com/.../a1154177-261213-valley.../ $850,000 MLS A1154177 3 bedrooms 2 full, 1 half baths 2 car garage Call/text Yasin @ 403-681-0319 for more info or to book your showing 9.29 acres within just a few short mins to NW Calgary! This is the ideal location to enjoy all of Calgary's amenities while enjoying country living with stunning views overlooking Symons Valley Road! Fully finished 1288 sq ft walkout bungalow with another 1203 sq ft down plus a double 24x24 detached, heated garage and a…

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City of Calgary, Oct. 19, 2021 –

For the full report, please download CREB®'s Q3 2021 Calgary & Region Quarterly Update Report here.

The pace of growth and level of sales have eased from the record highs seen in the second quarter, but with 6,628 sales, this was the best third quarter since 2014.

Much of the strength in demand was likely driven by the low-lending-rate environment and increased savings among those whose incomes were not impacted by COVID-19 shutdowns.

"Sales have slowed from the record pace seen earlier this year, but some of this slowdown was likely related to limited improvements on the supply side of the market," said CREB® Chief Economist Ann-Marie Lurie.

"Supply-demand balances improved for buyers compared to what we…

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City of Calgary, Oct. 1, 2021 – Residential sales totalled 2,162 in September, nearing the record high for the month recorded in 2005. Further gains in new listings likely supported some of the sales growth that occurred this month.

“While sales activity in the fall tends to be slower than in the spring months, the continued strong sales are likely being driven by consumers who were unable to transact earlier in the year when supply levels had not yet adjusted to demand,” said CREB® chief economist Ann-Marie Lurie. “The market continues to favour the seller, but conditions are not as tight as they were earlier this year.”

Inventory levels in September eased to 5,607 units, keeping the months of supply below three…

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