The statistics indicate we’re absolutely running out of houses to sell.
We have inventory, just not standing inventory so we won’t run out but it does mean a lot of things to a lot of us.
– It most certainly means prices are going up (for a while).
– A lot of pressure on all involved (for sure).
– Some buyers are compromising (that’s ok a little).
– Most buyers need to plan to overpay by under shopping (that’s strategic).
– Some sellers are underselling (that’s ok).
– A lot of sellers need to overprice (a little).
– Housing issues are real and really important (that’s for sure).
At Plintz Real Estate, we believe experience, expertise, and perspective are more important than ever. We’ve got truckloads of insight, strategy, and experience to put to work for you. For a breakdown of what’s happening, watch our video, read below, or call us directly. We’ll be happy to help.
Above all else, we’ve got some of the most talented people in the business working collectively and collaboratively with the best in the city abroad, from inspectors to lenders. We will make it through this, and we will all make it through better if we work together.
At Plintz, we see both good news and concerning news, and that’s because it’s our job to look for both. Knowing what to look for, how to navigate, and most importantly, how to seek solutions to avoid future difficulties is crucial.
The current market has only one month of supply, which is the lowest in the country for a major city and way below what would be classified as a seller’s market. It’s the best market we’ve possibly ever seen if we’re looking at rising prices in Alberta, according to the statistics. There are lots of sold signs, competing offers are normal, and prices are going up. However, buyers beware, as sellers are taking advantage, not unfairly, but because there are two sides to every coin.
So what should you do about it?
Be intentional and strategic, and absolutely get good advice and support. Don’t be patient, be prepared, pay attention, and don’t compromise (too much). Sellers should overprice their properties a little, and buyers should overpay. Shop under your budget so you can overbid when required. Sellers and buyers should be flexible and really assess their needs now and long into the future. Ask important questions and seek support in finding solutions. Agents should be supportive and act professionally.
We are here to help!
Detailed market update statistics from the Calgary Real Estate Board for April 2023 are available HERE.
Contact us directly for the stats on Airdrie, Cochrane, Rockyview, Bighorn, or other areas in the Calgary region.