Balanced Market Achieved in Calgary

I am happy to report that we have now officially moved into a balanced market. That means that there is a sale occurring for every 2.5 to 4 listings on the market in a given month. This is good news for us but not a reason to become complacent about our price. There are still many new homes on the market which are attractive to buyers and well below our asking price and they are competing with us along with all the other actives.

Listings have come off substantially from last month during the first 2 days of the month as is usual. They are still hovering around 8000 combined Calgary Residential listings which has been fairly consistent since January and we may soon see this number dropping off as sellers take a breather going into the fall.

Sales shot up in May making it the best month of the year. Will it continue?

The median list price is up by $5,000 since May 19th, while the price has dropped for sales during the same period, by almost $20,000 to $361,950. The average days on market for sold properties has nudged up to 60.5 from 52.25.