https://shenoudarealty.com/blog.html Shenouda Team : Blog : Latest Blog Posts Copyright (C): Shenouda Team, https://shenoudarealty.com Mon, 25 Nov 2024 20:04:30 GMT Shenouda Team 2024-11-25T20:04:30Z Copyright (C): Shenouda Team, https://shenoudarealty.com https://shenoudarealty.com/blog.html/november-2024-calgary-real-estate-market-trends-8346572 <p class="block-p">As November unfolds, Calgary's real estate market reflects seasonal adjustments alongside broader economic influences. Here are the key trends for buyers and sellers in Calgary and surrounding areas:</p><hr data-margin-top="0" class="margin-top-0 margin-bottom-0" style="--margin-top: 0; --margin-bottom: 0;" data-margin-bottom="0"><h4><strong>Current Market Overview</strong></h4><ol><li><p class="block-p"><strong>Sales Trends</strong>: Sales volumes in October remained steady compared to last year, supported by strong activity in higher-priced homes. This segment benefits from increased inventory, creating more balanced conditions. Lower-priced homes, however, still face inventory challenges, keeping that segment a seller’s market.</p></li><li><p class="block-p"><strong>Inventory Levels</strong>: Inventory has significantly improved from last year, with 4,966 active listings as of October. However, nearly half are priced above $600,000, impacting first-time buyers' affordability and availability.</p></li><li><p class="block-p"><strong>Price Movement</strong>: Benchmark prices for detached homes, row homes, and condos continue to rise annually. Detached homes saw an 8% year-over-year increase, reaching $753,900, while row homes and condos recorded gains of 8% and 11%, respectively.​</p></li></ol><h4><strong>Opportunities for Sellers</strong></h4><ul><li><p class="block-p"><strong>Strong Demand in Mid-Range Properties</strong>: Homes priced below $700,000 continue to sell quickly, offering sellers excellent opportunities to capitalize on the low inventory in this range.</p></li><li><p class="block-p"><strong>Seasonal Positioning</strong>: The holiday season often brings serious buyers to the market. For sellers, this means the potential to attract motivated buyers even as activity slows​.</p></li></ul><h4><strong>Opportunities for Buyers</strong></h4><ul><li><p class="block-p"><strong>Negotiation Potential in Luxury Market</strong>: With increased inventory, the upper-end market offers buyers more options and room for negotiation.</p></li><li><p class="block-p"><strong>Condos as an Entry Point</strong>: Condos remain a solid option for affordability. Rising inventory in the $300,000–$500,000 range has slightly eased price pressures.</p></li></ul><p class="block-p"><strong>Rental and Investment Potential</strong></p><p class="block-p">For investors, Calgary's rental market continues to be robust, supported by population growth and strong demand. Holding properties in high-demand neighbourhoods is a strategy for long-term capital gains as the city’s economic expansion continues.</p><p class="block-p">Whether you're planning to buy, sell, or invest, Calgary’s dynamic real estate market offers opportunities tailored to a range of needs. </p><p class="block-p">You can explore market updates at trusted local sources like the Calgary Real Estate Board (https://www.creb.com/Housing_Statistics/ ) for further insights. </p><p class="block-p"></p><p class="block-p"></p><p class="block-p"></p><p class="block-p"></p><p class="block-p"></p> Thu, 21 Nov 2024 18:37:59 GMT https://shenoudarealty.com/blog.html/november-2024-calgary-real-estate-market-trends-8346572 2024-11-21T18:37:59Z