Market Report for 14 to 21 July

The Calgary real estate market is currently experiencing a shift towards a more balanced market, with inventory levels increasing and sales slowing down compared to previous years. While some property types are seeing price gains, others are experiencing declines. Overall, the market is influenced by factors like economic uncertainty, fluctuating interest rates, and increased inventory. 

Key Trends:

• Increased Inventory:

  Inventory levels are rising, particularly for row and apartment-style homes, returning to levels seen before the recent surge in population growth. 

• Sales Slowdown:

  Sales activity has decreased compared to previous years, with some property types experiencing significant year-over-year declines. 

• Price Fluctuations:

  While some property types, like semi-detached homes, are seeing price increases, others, like apartments and row homes, are experiencing price declines. 

• Shifting Market Dynamics:

  The increase in inventory and slower sales are creating a more balanced market, giving buyers more negotiating power. 

• Economic Uncertainty:

  Factors like global economic uncertainty, fluctuating interest rates, and changing immigration policies are impacting buyer confidence and market activity. 

Property Type Specifics:

• Detached Homes:

  Benchmark prices remain relatively stable, but sales activity varies by area, with some districts seeing gains. 

• Semi-Detached Homes:

  Prices are up, with some areas, like the City Centre, reaching record prices, but inventory is limited. 

• Townhouses and Apartments:

  These property types are seeing the biggest increases in inventory and are more susceptible to price declines due to increased supply. 

Tips for Buyers and Sellers:

• Buyers:

  Consider getting into the market sooner rather than later, as interest rates are expected to come down, potentially increasing competition. 

• Sellers:

  Be patient and realistic about pricing, as the market is shifting towards more balanced conditions. 

Give me a call and we can chat about how the real estate market is impacting your property and design a plan that works for you.  Gerard at 403-703-5548