Calgary Real Estate Prices & Market Update – August 2017 – David Jablonski – Jablonski Real Estate Group, http://www.jablonskirealestategroup.com. Hey everybody it is David Jablonski with the Jablonski Real Estate Group with ReMax First. It’s time for the Calgary Real Estate Market update for August 2017. So the trend that is happening right now that we have seen in the last few months is inventory levels are slowly creeping up. Now there is nothing to be really alarmed about with this trend other than we just need to monitor going forward. Now obviously if sales don’t keep up with those inventory gains we could see some prices stable or maybe see a little bit of pressure downwards as we go forward. Overall the single family detached, semi detached and row townhouse condos should see a stable market going forward. The condo apartment sector especially downtown is still going to see pressure on downward prices even though this past month sales were actually up a bit and inventory gains were down slightly. Again these are just one months numbers and its more over the long term trend that we need to look at. What we are also seeing is certain sectors and communities in the city is there is not much for sale in certain price points and their is a lot of buyers waiting. So you could have a house for example come up for sale in Woodbine that would come up at 0K to 0K and you could have 10 showings in the first couple of days and get multiple offers. That’s how many buyers are literally waiting to buy something in that price point. So it really comes down to the seller or the buyer really judging your local market to find out what you could do as far as pricing and how fast to act if you are a buyer. We need to watch something else as well too, which is the interest rates. So the federal level and lender level raised those interest rates by .25% not too long ago. There is talk of increases in October and potentially January as well. Let’s just wait and see what happens with that because that is based on if everything goes according to plan and don’t forget that the whole country of Canada has to be weighed in on to determine if that is good for all markets. Now we know that the markets in Vancouver and Toronto are much different than Calgary, Edmonton, Regina, so that really needs to be weighed at the federal level. I really don’t think that is going to happen that soon, a lot of lip service, but eventually interest rates will go up. Slow over time, but we are still in a low interest environment which is great for buyers. Economy seems to be getting better slowly, but all-in-all steady on the front and nothing drastically changing as we go through the summer. Hope you enjoyed this video and I look forward to hearing from you. Talk again soon.
Calgary Real Estate Prices & Market Update – August 2017