We’re almost mid-way through March!
It’s been an intense couple weeks for our city and all of Canada for that matter. The global price war around oil prices and the COVID-19 virus are causing a significant world wide impact.
Uneasy times for a lot of Calgarians on what this will mean in the short term but also long term in our city. It may be too early to tell what kind of market impact is in store, but with everything that happens there will be some challenging decisions along with arising opportunity. From the COVID-19 side, our leadership group at Charles Real Estate has communicated and planned ongoing precautions in order to keep our clients and our agents safe as we continue to provide a high level of marketing and service. And as always, we will keep our pulse on direction from our cities health board.
Real Estate activity has been increasing over the first few months of the year and we are planning on having an active spring.
If you’re planning on making a move in the coming months and want to chat about your plan or if you just want to stay informed on how the market is going week to week, please don’t hesitate to reach out. I’m always here to chat!
Happy (early) Spring, and we’ll see you in April!
Cheers,
City of Calgary, March 2, 2020 –
• F E B S T A T S •
Activity is rising and transactions have been increasing the first couple months of 2020. Lots of calls and texts discussing what the future might hold. Always here to chat! Want to know what this means for you?
February’s double digit sales gains caused a 23% increase over last year. Inventory levels continue to decrease which will assist in stabilizing prices.
Benchmark price in February was $416,900 which is nearly 1% below last year and nearly 11% below month highs recorded in 2014.
Detached // Sales improved by nearly 12%, yet eases in sales occurred in the City Centre, North East and North West districts. New listings declined this year by 1% and improving sales and inventory levels are lowering months of supply to just below 4 months. This is a significant improvement over the more than five months recorded last February.
Attached // After the first two months of the year, rising attached sales and easing new listings caused inventories to decline. February months of supply is now below five months, an improvement compared to the past two years.
Apartments // For the second month in a row, improving sales were met with gains in new listings. This is causing inventory gains. Sales levels were high enough to cause the months of supply to ease, but the persistent oversupply in the market continues to weigh on prices.For the full report, follow me on IG here. What does this mean for you as a future buyer or seller in Calgary? Drop me a line, I’d love to help.
*Stats obtained from CREB.com
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THE BK BRAND.
IT’S MORE THAN JUST REAL ESTATE.
Yes, Real Estate is the focus. What fuels and drives this brand is a much larger thirst for community, paired with a love of people and connection that is centric to the home.