It is hard to believe another summer has come and gone. With Labour Day behind us and kids headed back to school, it is time to take another look at the Calgary’s housing market. 2015, started with a steady drop in the price of oil and as we enter the fall, prices seem to have stabilized in the $40 - $50 range. This has obviously had an effect on the Calgary economy. It has also changed some of the dynamics of the housing industry.
Last year the market was definitely favoring the seller with limited supply and high consumer confidence finding the right home was an exercise in patience. Today the market has added more listings but sales have slowed allowing buyers to have more selection and the ability to find suitable homes.
The chart below show the inventory levels, sales and the Benchmark Price by month for the last year for the Calgary housing market.
Overall the housing market has held its own for the last year. According to CREB© as of the end of August we are have maintained our pricing through this challenging time. Interest rates have helped to keep new home buyers interested and home ownership has proven to be an excellent investment over the years.
If you would like to find out more about the current market conditions or are interested in making a move please feel free to contact our team. We are always willing to help.
Real Phaneuf, Realtor© Royal LePage Foothills