Hey Calgary. You Pay Top Dollar! Why?
Experts in
the booming Real Estate Market agree that future home buyers in the Calgary
market will be paying top dollar at least in the near future. Many homes and
properties are only on the market for a short time before they sell.
Many Homes Selling in a Matter of Hours
Homes are not
only selling quickly as in the past, when listed on the market for a few days,
but now selling within a few hours. I sold one such home on Windstone Rd. within
18 hours of it being on the market. It didn't even have a chance to hit the
public MLS.
Selling for More than the Asking Price
As the
housing market heats up, multiple offers are the norm. This pushes many
properties to sell for more than the asking price. About 30 per cent of sales seen
by real estate agents are at or above the listing price. I heard about a
townhouse in Rundle that sold recently for 38 per cent over the list
price.
Going Up Again
According to
numbers from the Calgary Real Estate Board (CREB) the trend is increasing. In
April of 2013, it was reported that out of 2,544 properties sold in Calgary,
265 went for more than their listed price. In April of 2014, the 2,377
properties that sold, 529 of them sold at more than list price.
Migration and
Employment Up
A new report by Canada Mortgage and Housing Corporation,
states that a record net migration and the gains in employment in recent years have
influenced the increase in sales and prices for Calgary. Rising incomes and
employment growth are the key contributors to the upwards tick in housing
demand.
More Homes on the Market This Summer
CREB
President Bill Kirk has stated that as more homes go on the market in the
summer, things will calm down. There has been a shortage in single family homes
for sale but the market as usual will self-correct.
Call Chris 403-680-4479
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NOW!
e-mail
Chris at: chris@yourhomeinalberta.com
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