Is It a Good Time To Buy Right Now?

The Calgary Real Estate Board stats are out for the month of October, and it seems that there are still many questions to be answered when it comes to Real Estate in the Calgary market.

Although some homes are selling, the news isn’t all great for sellers. It strongly reinforces the fact that it remains a buyers market. Right now is a great time to buy a new home for these reasons:

  1. interest rates will be going up(it looks like they could go up again before the end of the year)
  2. the market is flooded with listings, and there are many great options for buyers
  3. there are alot of motivated sellers right now
  4. the market is slowing down as we head into the winter months

 

Here are some details from CREB’s October Report:

Detached Homes

  • 829 homes sold in October
  • 8.6% decline
  • Year-To-Date decline of 15%
  • It’s the slowest level of detached sales since the late ’90’s

Attached Homes

  • Year-To Date sales of 3098
  • 15% below last year
  • 14% below long-term averages
  • October inventories are the highest on record

Apartments

  • Year-To-Date apartment sales of 2316 units
  • Year-To-Date prices down by 2.8%
  • Nearly 7% below last year
  • 14% below the highs of 2014
  • New listings down by 6%
  • 7 months of supply on the market right now

If you would like more information about the report, or if you would like to buy or sell your home, please call me today!

Bruce Voigt –┬áREALTOR/ C.C.S.

MaxWell Canyon Creek Realty

403.620.2685

bruce.voigt@shaw.ca

http://www.myrealtoronline.ca

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