This is a great time of year in Calgary. Kids are out of school. The weather is great. The Stampede and all the energy and economic boost it brings is just around the corner.
Now the good news is extending to the real estate market as media reports are catching up with what realtors on the front line have been seeing for weeks now – clear signs of recovery and new life in the market.
It’s still a great time for buyers with lots of good value options available, but things are heating up and particularly at key price points there should be an advantage to acting now rather than waiting further.
The news of positive signs for a recovering market are led by numbers showing that construction investment rose 8.5 percent from March to April – this despite what many have called a “cool spring” market of rising inventory. But looking deeper into the numbers, it was clear that a lot of the stagnant inventory was concentrated on the apartment and attached categories. Overall number in the mid 6,000’s of properties on the market is still relatively balanced and the single family home market has been remarkably resilient.
As I have noted previously in The Brief, in recent weeks it has not been uncommon to see multiple offers on desirable single family homes, particularly in the $500,000 to $700,00o range, and there has also been more noticeable movement in the luxury homes sector.
It’s shaping up to be a good summer for both buyers and sellers. Talk to me anytime for more insights on the market and how you can take advantage – call Sam at 403.830.0331.