Calgary‘s real estate market is certainly a reflection of the World economy and the price of oil. Unit sales in June 2010 were the lowest of any June this millennium and overall activity remains low. Inventory is creeping up and our local Real Estate Board feels this could take some time to get back to normal.

We are back into a buyers market. The forecast is slow or no growth for the rest of the year, there is enough inventory on the market to last 5 or 6 months without another property being listed for sale. The average price is expected to retreat a bit in the next few months.

The activity in the Luxury Home market is still above last years sales numbers. This shift in upper end sales is softening as well and continues to up the average price of a home in Calgary.

Properties positioned correctly are still selling in this market. The uncertainty and availability of the current inventory have put the buyers in control of the Calgary market. Only about 18% of current homes Listed sold in June.

The good news; 1. Interest rates are still at historic lows. 2. If you ever thought about moving up or down in the market place the selection is amazing. 3. No one ever got rich by doing what everyone else did; it may be time to add some real estate to your investment portfolio.

Locally Known & Globally Connected

Rod Forsythe/ June 2010

E-mail- rod@rodforsythe.com  tel. 403.777.1040

Keller Williams, Calgary, Alberta, Canada

Helping People buy and sell since 1986