I also wanted to say a heartfelt Thank You! Things were very different in the Real Estate market this year, but it was also a testament to how valuable my clients are. My business this year has been over 70% repeat and referral, and I just wanted you to know how grateful I am for that. Tough times always reveal who is most important to you, and this year has shown me that again, in spades!
Now, on to what's happening in the Calgary and area market:
For the sixth month in a row, sales in the Calgary market recorded a year-over-year gain.
Sales growth over the past several months has been the strongest seen in the past five years, but the activity has not been strong enough to offset the pullbacks from the spring. Year-to-date sales remain over three per cent lower than last year's levels.
New listings continue to slow, reducing inventory in the market. On a year-to-date basis, new listings have eased by nearly ten per cent and are at the lowest level recorded since 2001. This has reduced the oversupply that has been impacting the market for nearly five years.
"The gains in sales in the latter part of this year have been a bit surprising considering the job losses and unemployment rate in our city," said CREB® chief economist Ann-Marie Lurie.
"However, it is important to note that the shift to more balanced conditions has been mostly driven by the reduction of supply."
First time buyers are still a large part of the market, due to historic low interest rates. It seems like a good time for the younger group to enter the market. I have a very specific strategy for first time buyers to help insulate them from any market shocks, so if you would like info on that, just let me know.
This months CREB stats report can be accessed by clicking here:
Hope you are having an awesome day!!