As we head into the winter months and are only 6 weeks away from Christmas, we can expect the typical slow down in real estate sales and properties being taken off the market until the spring. Inventory levels in the resale market are stabilizing. Brand new inventory continues to rise especially in the townhouse and apartment segment. Large inventories of rental accommodation have come on stream the past 6 months which has reduced the one off investor purchases ths resulting in lower overall sales volumes in the resale market. If you are looking to buy a new home or townhouse/apartment, make sure you do your research. Rural Property sales also typically slow down this time of year with not a lot of new inventory coming on until the early spring. Some good acreage buys can be had with what’s left for sale right now. The surrounding communities of Calgary are following Calgary’s market trends and usually lag behind by a few months. The price drops shown in my graphs are relative to the heady highs we had in the past couple years. Overall, market health is somewhat ok and we are not in a tailspin.
