In six weeks Calgary may run out of Homes to Sell

newplanThe Calgary Real Estate Board reports statistics that indicate we currently have six weeks of available single family inventory (Feb 13/19). The last time I recall our inventory of homes this low was in 2007 and everyone was discussing the critical state of the market. Of course this is a snapshot in time and we will not run out of homes to sell (while we had 447 sales, there were also 612 new listings that week), but it is an indicator of the status of our market, the relative level of inventory and an indication of a buyer or sellers market. In fact, one could assume that the actual level of inventory is even lower due to a CREB rule which does not enforce true reporting of status on their mls system (we don’t know how many homes are actually sold, as clients may instruct to retain an active status while under contract). So without over-analyzing this data, the bottom line is this: The market clearly favors sellers and if you were thinking of selling your real estate in the next while,  there may be no better time than now. We are negotiating record prices for most inner city real estate and even some suburban and acreage properties are selling that have been sitting on the shelf for many months. Where to start? Contact us to get a current state of the market assessment of the value of your home with no obligation and you will be armed with all the facts you need to make an informed decision. Who knows, you may look back in a year or so and marvel at your genius.

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