Real Estate is NOT Reasonable … or Predictable!
This Blog often follows my conversations…things I find I am talking about quite a bit day to day.
Last weekend I was at a listing appointment. One of the sellers mentioned – that historically there is a “good time” and a “bad time” to sell real estate in Calgary.
Well….pre Covid (before March 2020) I would have agreed. A definite pattern existed in Calgary for sure. SPRING was known to be the BEST. Most agents could take Stampede week and most of the summer OFF! Sellers could pull their listings from MLS mid December – and come back on the market after the holidays.
*There were ALWAYS exceptions to the rule – since I negotiated multiple offers on NEW YEARS EVE in 2018…truly one of my fave stories of all time!
But predictable patterns are NOT the case anymore! Houses sell every day of the month – every month of the year! I did a deal on Christmas Eve 2023 in my mother in law’s bedroom!!!! This summer has been hands down the busiest one of my entire career. Yes, did it slow down the beginning of July due to heat, Stampede and summer – yes. But it picked up swiftly!
Real estate is not reasonable.
This is one of my favorite phrases (and I have a few)! It is truly unpredictable – and will continue to keep us guessing in the future. Interest rate changes, government changes, weather changes, economy changes…these all “affect” real estate – but people move in and out of this great city ALL the time. They move up and then downsize. People get divorced, married, pass away and have families. They buy and sell investments. Jobs change. Incomes change. Hobbies, extra curricular activities and schools and DOGS make people move.
Real estate is mostly about inventory. I listed a detached home under $600,000 last week – and the initial email that went out to buyers with a search saved in the MLS system by a realtor – went out to over 3000 people! 3000 potential buyers are looking for a home in this city – or this quadrant – or this area under $600,000 with 3 bedrooms and a garage! Does not even account for the buyers that are NOT working with an agent now and just watch Realtor.ca EVERY DAY. That is a LOT of future buyers that we need to find homes for!
I am seeing frustration in the buying pool. I wish I could tell you that is going to change – but based on all my research and potentially more interest rate cuts – I feel the market will continue to move swiftly into 2025. Even in the higher price points I see tons of movement and traction. Alberta is attractive. Calgary real estate is still very affordable compared to other markets. We have soooo much to offer in this city.
So if you are HOLDING off buying or selling – because of OLD thinking about a predictable market or season….call me. Let’s chat!