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Market Update - March 2015
I just wanted to post a quick note with a few graphs that provide some fairly interesting statistics. Just something to look at to help tell the story of our current market. Sales have dramatically increased the last 3 weeks or so, including more sales in the mid, upper and full estate market. Good news for sure! In January, we sold 14 properties versus our average of around 25 transactions. Overall, in January, the market sales were around 150-170 transactions per week. We are now close to 400 sales per week! We usually consider a "good" sales market to be 500-600 weekly. As a team, in the last 2 and a half weeks we have sold 17 listings and have had 8 purchases. Not up to full speed yet but picking up. The other good news is that our team has already had many sales this year in the million dollar range and beyond.
We have had many deals fall apart during conditions as buyers tend to be less confident and a bit jittery. Values continue to be at about 5% below the peak from last summer. With the economic realities of $45-50 oil, no one anticipates a push up in real estate values in the near future. Even if there is a bump to $60-65 oil, the best case scenario is prices remain at this level.
My team and I continue to work hard despite many frustrations in this market and we continually see signs of improvement.
If you have any questions, please feel free to call me or any one on my 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!