What is going on in the Calgary Real Estate Market??
As a real estate agent I am often said to have a conflicting view of our real estate market in comparison to that of the media. I’ve been in some heated arguments, once in particular because the news had just reported one hour prior that the market dropped by 10% over the past year and my math said 3%. Where was the 7% difference?? Or am I just really bad at math??
The truth is that the Calgary market cannot be defined in one blanket statement. Just like it can be snowing in one part of Calgary and sunny in the other, the market is different for almost every neighborhood, quadrant and style of home. Calgary’s market is made up of many small markets which must be analyzed on their own merit.
When the media talks about drops in prices they do not provide the criteria for what this information is based on. I can only assume they are talking about Calgary as a whole because their math doesn’t compute when looking at areas individually and that is what happened in my argument. We were both right just not using the same criteria. I was analyzing a specific product in a specific area and he was looking at a “Calgary overall” statement. The reality is that often that drop is in large part due to one or two sections of our market. For example, condos have taken a big hit over the past few years and this was largely in part because there are just so many of them on the market. At one point condos were accounting for almost 40% of Calgary’s inventory. This pressure causes prices to drop as sellers have to become more aggressive in pricing to stand out in a sea of options. At the very same time I was involved in competing offers within different Calgary markets where homes were being sold in less than 24 hours and causing prices to increase.
So what is going on in Calgary’s market…A lot!!
Whether it’s a good market or a bad market there is opportunity, you just need to know where to look and that’s where a real estate professional comes in. Calgary’s market is tricky to navigate, especially in uncertain times. That is why having a knowledgeable real estate professional guiding you is so important. We are at the forefront of the market every day, seeing where opportunity rises and where it falls. We look at your needs and weigh all the pros and cons vs. value. We provide you with all the information you need so you can make the most informed decision possible.
I understand, you don’t want to call a real estate agent, they are too pushy or “salesy”? You don’t want to be harassed and end up having to change your number? I assure you that is an old style and definitely not one I subscribe to. I believe that using my expertise to educate buyers and sellers is the best service I can provide. If my knowledge doesn’t impress you, then I don’t deserve the job.