Calgary Real Estate Market Update - July/August 2021
As we hit the midway point of this smokey summer here in Calgary, the market has needed some breathing space like many Calgarians. And breathing is exactly what it is doing.
There isn’t much drama here; it’s more like a pause. Some areas of the Calgary market have seen larger pauses, and others have seen no sign of a pause. Despite the feeling of a pause, July 2021 saw 2,319 more sales than any July prior, which also saw a near 10% increase over July 2020 benchmark prices.
The key to making a move in the next 60 days is to make sure you know the market you are in. Markets are not all equal right now in terms of months of inventory, listing-to-sale ratios, buyer profiles, etc.
When we move into the fall, the market could change again, and you’ll want to have a good pulse on it. Make sure that you partner with someone who knows how to read and react to the market.
There are still some amazing opportunities to be had, but there are also many multiple offers and homes that sell within days of going on the market. Therefore, you should know what kind of market you are purchasing in and be prepared. Prepare your documents and plan in advance since you never know when the perfect house might pop up.
Agents, vendors and clients in Calgary have had a tiring and full year in the last 12 months. We’ve been dealing with intense emotions, tight timelines and strained systems, so remember to act with kindness and patience if you’re moving forward in this market.
Posted by Jared Chamberlain on