June Real Estate Market Update 2023

Today, we want to address the elephant in the room—the unprecedented momentum and soaring prices in the real estate market. While it’s undoubtedly good news for homeowners and property values, we believe it’s essential to delve deeper and understand the implications of a housing shortage and the potential challenges and ethical challenges it brings.

Sales to new listings are currently sitting at an astounding 85%. This means that practically everything hitting the market is selling. It’s a clear indicator that prices are climbing, and at Plintz Real Estate, we firmly believe that this upward trend is far from over. Brace yourselves for a record-breaking year of price increases, potentially the biggest we’ve ever seen. We aren’t making this statement lightly; we have concrete data to back it up. We diligently track not only data but also sentiment, as it profoundly influences the market. And the sentiment in Alberta is overwhelmingly positive. (Oh and the election results are in).

May's Real Estate Stats presented by CREB.

However, as we celebrate this remarkable growth, it is crucial to remain mindful of the downside of this upswing. There is a lot of uncertainty and unregulated protocols around buyers, sellers, and how real estate transactions get handled.

There is a tremendous amount of uncertainty and unregulated protocols around buyers, sellers, and how real estate transactions get handled. There’s a whole lot of learning to be had about how to handle the momentum and the competition in this type of market. There are guidelines and recommendations but there aren’t enough firm rules to give certainty to everybody involved. This is where we must all work together and strive to be accurate, timely, and honest.

So we not only have that to work through we still have the problem of a whole lot of people with nowhere to live. We’ve got like 50+ people a day moving to the city. Economic growth, an already overwhelming homeless problem in the city, and all of the challenges that existed before this boom started.

Collaboration, my friends, is the flavor of the day.

Housing is a topic that affects each and every one of us, and it demands our attention. Let’s work collectively to ensure that everyone has access to fair and sustainable housing options.

At Plintz Real Estate, we understand the significance of these changes and their impact on our clients. That’s why we are here to offer our unwavering support and guidance. Whether you’re considering buying or selling a property, our dedicated team is ready to assist you every step of the way. With our vast knowledge and expertise in the market, we can help you navigate these exciting but challenging times with confidence.

So, if you find yourself needing assistance or simply want to discuss the housing market further, please don’t hesitate to reach out. We’re here for you, and we’re committed to providing the highest level of service and professionalism.

Together, let’s embrace this real estate boom while ensuring that integrity remains at the forefront of every decision we make.

Detailed market update statistics from the Calgary Real Estate Board for May 2023 are available HERE.

Contact us directly for the stats on Airdrie, Cochrane, Rockyview, Bighorn, or other areas in the Calgary region.