I always loved that scene from Lonesome Dove and I think about it whenever my kids remind me that I'm not that young anymore!
This market is definitely making me feel older though. List a home, have 25 showings in the first 2 days, generate 3,4, 5 offers, sell above list, rinse and repeat! I don't know how long this is going to last, but things are still moving pretty quick.
It is interesting to note though, some homes sell like this, then others sit on the market for 30, 45, 60 days. There's certainly some things you have to do, even in a hot market.
The banking industry is talking about raising the stress test on mortgages from 4.79% to 5.25%. That represents about $20,000 less that people will qualify for. The hazards of hot markets...
To all the Mom's, hope you have a wonderful Mother's Day this weekend. One of the toughest jobs on the planet!
This months CREB stats report can be accessed by clicking here:
Calgary Market Report - May 2021
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