June 2020 - Market Update

Posted by Jared Chamberlain

june_2020_real_estate_marketDuring the month of May, the market in Calgary remained relatively slow, however it did exceed the lows from April's market in number of transactions. Despite the decline in number of homes sold by 44% compared to 2019 May numbers, we did see some homes go into multiple offers, in fact one last week had 5 offers on it.

Yes the market is slower, but here's the reality, people are still moving and working with an agent who is forward thinking and understands this market is key.

We've said it before, but it really makes a world of a difference now, you need to have a solid strategic plan. You are not able to just get by with winging in when buying or selling a home in this market.

We get asked, and even told, by clients that they know the market is going to drop 10% in the fall, so they are going to wait till then to buy. How are you so certain that this will happen? It could go down, it could stay the same too... could it go up? Probably not.

If you are looking for an investment property, where the feel, street location and neighbourhood aren't as important to you as if you were buying something for your family, yes, we agree. Wait it out and find a smoking deal. However, if you are planning the purchase to be for you and your family, you may want to make the move when the right home, on the right street in the neighbourhood you love is listed for sale.

But when you do make that move and write an offer, make sure you are getting it at a great price, knowing that it will be your family home for years to come. Take a look at the number in the images, but remember this; the market for your home and what it's worth is unique to your home.

If you are considering making a move up in this market, there are some amazing opportunities to do so, and make sure you check out our highlighted stories for the math breakdown and see how you can come ahead.



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