The Calgary real estate market has been an interesting ride in 2017. The market and statistics in October 2017 have been similar to the news in September 2017.
Inventory levels continue to rise in Calgary across almost all sectors. The surplus of properties on the market is leading to downward pressure on prices. The Calgary buyers welcome this, but sellers are forced to take a hard look at their pricing and marketing strategy.
Weaker migration levels and adjustment to interest rates/lending rules are contributing to uncertainty in the market and as we like to say, "an uncertain/confused buyer, rarely buys."
On the other end of the scale, the Calgary real estate market has improved on a year to date basis, and the overall sentiments do seem to be recovering as a whole; a recovery takes time, and this one is no different.
Sellers: position your property to sell by staying ahead of the market. This can't be stressed enough. In a downward market, being reactive can dramatically impact your bottom line and the chances of a sale.
Buyers: understand the market conditions and stay current on the statistics in the areas you are targeting. Know that you have the upper hand as the buyer and negotiate accordingly.