Calgary's Resale Real Estate Market Shows Strength
Calgary's Real Estate Market has shown a marked improvement from total sales in Oct 2008. Lower inventory, lower interest rates and more realistic pricing are bringing about more multiple offers as well as quicker home sales. Continuing strong activity in the fall real estate market should boost winter sales and mean a busier spring for realtors as well as sellers and buyers.
Calgary homes selling faster - CFCN Plus
Publication: CFCN Plus
Date: Thursday November 12th, 2009
Audience: 3362
Source: http://calgary.ctv.ca/servlet/an/local/CTVNews/20091111/CGY_House_RealEstate_091111/20091111/?hub=CalgaryHome
Summary
It could be another sign Calgary is on the road to recovery from the recession. Realtors say buyers no longer hold
all the cards which means the city's housing marked is more balanced than its been in previous months. A home in the
neighbourhood of Coventry had multiple offers and sold within a week. The home also went for more than the asking price.
Realtors say, in the past month, Calgary has been experiencing more multiple offers on homes and the market is busier.
Notes
It could be another sign Calgary is on the road to recovery from the recession.
Realtors say buyers no longer hold all the cards which means the city's housing marked is more balanced than its been
in previous months.
Jalene Grant's home in the neighbourhood of Coventry had multiple offers and sold within a week. The home also went
for more than the asking price.
"I really didn't expect this at all. I really thought we were going to sit on it for up to six or seven months and then have
to let it go for lower than we were asking for it," says Grant.
Realtors say, in the past month, Calgary has been experiencing more multiple offers on homes and the market is busier.
The real estate market rebound is being attributed to low interest rates and the drop in housing prices.
"I think mid-range and starter homes are seeing the most activity," says Roy Moore, a Calgary realtor.
Realtors say the housing market should continue to grow over the winter and be in a strong position by the spring.