Spring Outlook

Dated: 05/03/2019

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Spring is in the air....even though it's still snowing. The market activity in April has had a noticeable uptick as we are seeing more showing requests, multiple offers, back up offers, and multiple back up offers!

While the industry remains lagging nearly 6% behind 10 year averages for the number of sales, CIR Realty has greatly out- performed the industry averages in April. With an uptick in sales across the Calgary Real Estate Board of 2% over the sales in April of 2018, CIR's sales jumped 18.8% year over year for the same month. The showing requests have also seen an increase on CIR listings by ~6%, arranging to have 5,664 showings in the month of April. A few of the interesting points within these markets are:
  • Alberta's population continues to grow through both inter-provincial and international migration
  • The annual count of unoccupied dwellings continues to drop - this is likely due to a more competitive rental market which will push first time home buyers into the market
  • The lower to mid points of the market are out performing last year which should spark the move up markets as well
  • The new listings inventory has slowed allowing for a slight decrease in the absorption rate which will help stabilize pricing
With so many positive indicators happening in the market, we should start to see new trends emerging in the market place. With so many different factors affecting the micro markets within the macro markets, it continues to be incredibly important to evaluate each based on their own merits. As always, a CIR REALTOR® will remain the guide to help their clients make educated and informed decisions to best serve their needs with in the market place. 

Steve Philips
Manager
CIR Realty
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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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