CIR REALTY Real Estate Review

Dated: 03/07/2019

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March 2019.
The effects of Calgary's economic climate continue to create weak sales activity and elevated inventory in the city's housing market. While the market remains oversupplied, slower sales and price declines do appear to be influencing sellers. New listings this month have decreased by 8% compared to last year for a total of 2,211 units. However, the 976 sales this month were not enough to substantially impact inventory levels, which remain elevated at 5,885 units. 

There is some good news in the market as detached sales in areas like the North West remain stable. Some of the most affordable detached areas, including the North East and East districts, have seen inventories fall compared to last year. Citywide benchmark prices for apartments have eased, but some districts of the city have recorded modest gains. While, this is not enough to erase previous declines, it points toward price stability in parts of the market.

It remains imperative that sellers are educated on property values, and have realistic expectations of the markets. That said, the buyers also need to have realistic expectations with in the markets they are shopping. 
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John Kwong

As a veteran realtor with CIR Realty and member of Leading Real Estate Companies of the World™, my goal is to ensure that you have the best real estate experience possible. For those looking to sell....

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