October Real Estate Market Update 2022

 

The good news is always good. 

Please don’t misunderstand the reality of Calgary and Alberta. There is so much good happening and we deserve it. It was tough in Alberta these past 10 years and we handled it. 

Things have gotten better so let’s make the best of it. 

There is a lot of news about Canada’s real estate market cooling off.  Some Canadian real estate markets are experiencing sales volumes and prices are coming down as much as 20 percent. That means a lot of people, clients, and friends, are looking out East or out West and licking their chops as prices decline.

That is what happens. And at Plintz Real Estate we are tracking the data for the arbitrage opportunity that is surfacing between our market and most other markets in Canada.

And as prices and sale decline across Canada, it’s very important to know this is not necessarily the case for Calgary and Alberta.

There are a few key indicators that Plintz is watching very closely, migration, employment rates, and vacancy rates.

  • Many Canadians are migrating from other provinces to Alberta for work and for affordable housing. And immigration levels are at some of the highest levels we’ve seen.
  • Unemployment levels are low with over 100,000 jobs being added in 2022.
  • Rental vacancy rates are a very important factor to monitor. 

And in Calgary, real estate prices are still increasing in some segments and others are holding steady.

October 2022 Calgary Real Estate Market Stats

The reality is that building is more expensive and more challenging than ever so the resale market is remaining strong.

So what does this mean?

It means there is opportunity.

New listings coming to market have slowed in September and that has balanced the slowdown in sales. 

All in all, this is excellent news and most importantly, we want you to know that we are here to assist you with your real estate buying, selling, investing, or anything else we can.

Detailed market statistics from the Calgary Real Estate Board for September 2022 are available HERE.

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

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