October Real Estate Update 2021

The future of real estate in Calgary and in Alberta is bright because of that dark stuff we pull out of the ground.
Oil and real estate.
Here we go again. Or are we?

Remember 2005? We do at PLINTZ.
Remember peak oil? We do at PLINTZ.
Remember the peak real estate prices that followed? We do, and that’s where we may be headed.

Residential sales totalled 2,162 in September, nearing the record high for the month recorded in 2005.

Going back as far as 1999, it’s proven that real estate prices follow oil prices.

This isn’t opinion.
This is a fact.
So, as we continue to climb towards higher oil prices we expect local real estate prices to do the same.

Sellers this is a good thing.
Buyers get in and get in quickly.
Rates are on the move.
And for both sellers and buyers values are going up, say really smart inflation people anyway and we at Plintz Real Estate agree.

“While sales activity in the fall tends to be slower than in the spring months, the continued strong sales are likely being driven by consumers who were unable to transact earlier in the year when supply levels had not yet adjusted to demand,” said CREB® chief economist Ann-Marie Lurie. “The market continues to favour the seller, but conditions are not as tight as they were earlier this year.”

Whether you are a buyer, seller, investor or somebody on the fence we’ve got perspective, strategy, and solutions to apply to your situation.

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For the detailed market statistics from the Calgary Real Estate Board for September 2021 click HERE. Contact us directly for the stats on Airdrie, Cochrane, Rockyview, Bighorn, or other areas in the Calgary region.

 

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