Calgary Real Estate Stats in Color for May 2013
Alright here we go again...some stats for you...if you read this blog regularly you'll know we do this in Colour!!
Real estate stats are always boring....Average Price, Average Days on Market, Number of Solds....yada, yada, yada
Just in case you are interested that hyperlink above is from one of my favorite Seinfeld episodes....make sure you watch and then come back!
Ok enough chit chat, let's get down to it.
The market in May saw some nice gains in terms of average sale price and some nice drops in terms of average days on market.
So in a nutshell you are selling for more in less time. The average days to sell (of course if you are priced correctly) across the city was 30 Days for single family homes and 33 days for Condos.
I am going to mention this again like I do all the time, we never look at the average price we always look to the median especially now with luxury sales in Calgary booming! By the way....if you have a luxury home to sell we should talk (shameless plug...seriously though... 403-827-7527).
What does all this Really Mean?
It means the market in Calgary right now for sellers is really good. It means that if you are priced correctly you will sell your home in a short amount of time and in some cases go to multiple offers.
For you buyers out there, it means that you have to be realistic with what you are willing to offer.
It means that if your Agent, who hopefully works full time and has a good grasp of the market, tells you 'This property won't last long' they are probably right.
What it doesn't mean is that you have to overpay for the property that you are interested in. Have your agent work for you in doing an in depth analysis of what the property is really worth and make your offer accordingly.
You should also determine if this is a long term purchase or if you will be there for 4-5 years. This will have a direct impact on your decision making process.