It's now the new year and yesterday morning I pulled off the stats for the month of December 2018 from the Calgary MLS® System.
While December is normally a slow month for sales and listings, it's VERY CLEAR — 2018 was an incredibly slow year for real estate sales and deals were available at every turn (if you knew where to find them). January is expected to slowly be populated with new listings. If you were waiting for the good selection of homes to choose from, don't wait any longer than the third week in January to start your hunt!
So, how is the market?
Here is the breakdown as of yesterday morning:
Total Calgary MLS® System within Calgary for residential properties for sale:
- 4,976 properties available in inventory
- 779 properties marked sold in the last 30 days
- That makes 6.39 MONTHS of inventory — a strong BUYERS' market
- 2,634 properties available in inventory
- 484 properties marked sold in the last 30 days
- That makes 5.44 MONTHS of inventory — a BUYERS' market
ATTACHED homes (townhouses and 1/2 duplexes):
- 1,315 properties available in inventory
- 191 properties marked sold in the last 30 days
- That makes 6.88 MONTHS of inventory — a strong BUYERS' market
- 1,027 properties available in inventory
- 104 properties marked sold in the last 30 days
- That makes 9.88 MONTHS of inventory — a strong BUYERS' market
So, there continue to be sales in all three sectors. And, there are still some really great buys in all three sectors!
Many buyers are still sitting on the sidelines waiting for "better prices." I don't see it happening — many sellers would rather rent out their home or stay in place instead of taking a loss on their sale. Others have an unrealistic price in their mind (even against the advice of their trusted real estate professional) and will wait until they get it.
The keys to getting your home sold are: a home in great condition, excellent online photos and virtual tours, and MOSTLY having the home priced well.
It remains a great time to buy!