Calgary residential sales continue to improve in all housing categories in June with a total of 2,317 sold units, representing a 6% increase over June 2012 figures.
Sellers are still benefiting from a tight market conditions, characterised by higher demand coupled with a decline in listings. The tight market conditions are expected to continue in the next few months as owners of flooded properties "who were planning on selling their homes, will have some big decisions to make," said Becky Walters, CREB® President, "will they take a discounted price? Or will they stay and fully remediate the property?"
Generally speaking, msot gains were in the condominium market that outpaced the sales in the single family sector still suffering from shortage in listings, especially in the price category under $500,000. And while we still have to wait until next month to start seeing the impact of flood on real estate market in Calgary, it is good to know that all economic indicators are supporting the growing demand in the city, that in turn favour long term economic conditions.
If you enjoyed this blog post - please share
Are you ready to buy or sell a home in Calgary? We are your real estate agents of choice. Be sure to use our quick and easy search feature. We're the experts, and we're here to help you! For more information on how we can help you achieve your real estate goals please contact Calgary Home Team via email or directly @ 403-519-9102.