May brought with it some improvements for Calgary. “While sales activity remains low based on historical activity for May, the easing prices have brought some people back to market, while also preventing some others from listing their homes,” said CREB® chief economist Ann-Marie Lurie. “This has started to push the market towards more balanced conditions. If this trend continues, it could limit some of the downward pressure on prices.”
This is certainly great to see but overall recovery is still projected to be quite slow. In fact, sales activity still remains lower than at this same time last year and in particular, May was the lowest for sales in Crossfield year-to-date. Days on market has inched upwards to 136 days! Sellers need to be serious about selling and ensure they have their properties in excellent showing condition and priced right. This certainly isn't a time to be testing the market. So if you are serious about listing your property get in touch. There are still some in demand price points doing a bit better than some others. Happy to meet with you to discuss the market further.
Diandra Johnson | 403.660.8608 | firstname.lastname@example.org