If you have been paying attention to local real estate trends, you are probably well aware that this year has been considered a strong seller’s market. So what exactly does this mean? Low inventory has reduced the amount of properties available for purchase. This is causing buyers to become more competitive. If houses are well priced, they are selling very quickly- usually with multiple offers. As we head into the summer, we are expecting the number of listings to increase which will gradually shift us back to a balanced market.
If you are thinking of selling this year, you may have an advantage if you list sooner than later. Listing at fair market value while the market is hot will almost guarantee you a quick and profitable sale. Some sellers are taking the approach of listing slightly higher than current market value. If the demand in the area is high enough and the property shows well, they are walking away with top dollar for their homes. In a city with such a rapidly growing population, real estate is a hot commodity and buyers recognize the value in owning their own home.
The challenge may arise when you start looking for your next property. Buyers are having a tough time finding the right home with fewer properties to choose from. Some are getting discouraged after losing a few bidding wars and have decided to shelf their property search until the market balances out. As we head into the summer, it’s safe to say that listing inventory will increase.
As always, it’s important to educate yourself throughout the process. Ask plenty of questions, and align yourself with knowledgeable professionals who will represent your best interest along the way. If it’s time for your next home, do your research and have a good idea of what you are looking for so when the right property comes up, you are ready to buy.
Are you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.
About Bryon Howard
Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.