February 2, 2015
The Calgary Housing Market is slow to say the least with only 258 sold in the last 7 days.
The biggest thing I notice is not that there were 749 new listings but that 440 homes for sale have decreased their price.
Looks like we will be seeing the median sale price of homes lower a bit in the coming months.
On the bright side for the sellers, we are still receiving multiple offers on properties priced right which in turn is getting them more than their asking price.
Great news for the buyer as more and and housing come on the market there will be more options. Also, it's helps that the Bank of Canada dropped their prime rate to 2.85
Hopefully we have seen the bottom for oil prices and it continues to go up little by little. Right now as of 9:45am it's at $48.38
it would be nice to see the Canadian Dollar go up a little bit. Right now it's at 0.791
Drop me a line if you have any questions about buying or selling you home. No obligation, just conversation. You also won't have me emailing and calling you everyday. I believe in a no pressure marketing plan.
Have a great day and stay warm.
Sutton Group Canwest