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Market Update - June 2015
I wanted to send a quick update as we head into summer. There were 601 sales last week, the highest we have seen in a year. To put this into perspective, the highest weekly sales number I can recall was between 700-750. In January, in the heart of the "bad news," we were around 160 sales per week. So 600 is a very good number! Sales numbers for Calgary are down 18% from last year in June but my team's sales have not dropped to that degree. Our market share of listings has grown significantly....another good sign for our marketing effort and customer confidence in our team.
A common statistic that is published is "average" sale price. Media can skew this to make it look like prices are down dramatically. But a lower "average" doesn't mean prices are down to that degree just that fewer higher end homes above the average are selling due to a weaker economy and fewer people moving into more expensive homes.
Prices of most homes stabilized in mid March. Inventory of single family homes is very much in check. Sales activity is quite high. I am relatively confident this will continue into the summer. Overall, the market is very balanced and appears quite solid. I will keep you posted if I see things changing. There are still buying opportunities in certain market segments for sure.
The quality and strength of my team has never been better. It has been a very challenging eight month period for us. Uncertainty is an extremely difficult environment to function in for both buyers and sellers.
I hope it is a wonderful summer and please feel free to call me if I can help you in any way.
Jeff and the Team
Working with Canada`s largest Real Estate franchise RE/MAX, our unique & dynamic team has the knowledge and experience to get you the results you need. Whether you are buying or selling, our team knows Calgary, Bearspaw and the surrounding area.
The volume of sales we do vastly surpasses any Real Estate agent or team in Calgary.
That is the Power of Teamwork and our Untouchable Advantage!