Total sales, home, acreage and condos.
Calgary’s real estate market is stalled. Maybe now we are beginning to feel the slowdown. Remember Calgary’s stalled market would be a boom market in the USA. May, June and July 2010 are the lowest combined period for sales going back to the early eighties. Inventory is creeping up and our local Real Estate Board President Elect feels this could take some time to get back to normal.

We are in 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 6 to 8 months without another property being listed for sale. The average price for a single family home in July 2010 based on about 920 sales is $464.655 and the median price based the same square footage says $433,260 sq ft. Condos Average price is based on 396 sales is $291,157 and the median price is $275,080.

The activity in the Luxury Home & Acreage market is still above last years sales numbers. This shift in upper end sales is a welcome relief in 2010.

Today when only 10% to 12% of properties listed are selling well priced homes are taking advantage of this cycle. Moving up in a down market creates great opportunities for families in the future. The uncertainty and availability of the current inventory have put the buyers in control. The market has no magic pill to turn around anytime soon, we have lots of inventory without another listing coming into the market.

Price, position and reality are required to sell your home in this market.

If I can be of assistance then please give me a call,
Rod Forsythe/ July 2010
E-mail- rod@rodforsythe.com tel. 403.777.1040

Keller Williams, Calgary, Alberta, Canada

Helping People buy and sell since 1986/ Locally Known & Globally Connected

Tags: Calgaru real estate