Is it still a buyer’s market today in Calgary?
As experts in the Calgary real estate market, we get asked this question a lot.
The answer isn’t as simple as yes or no.
First off, it really depends on the property type and location.
Single-family homes in great locations that are priced will still sell quickly. There’s still a lot of demand in the market for certain areas, while others can seem like ghost towns.
Buyers are often looking for the same thing – good neighborhoods, access to transportation, shopping, good schools, close to work, etc. Properties that deliver all these are definitely a hot commodity. Sellers with a highly desirable property are in control of the market.
But for condos and townhouses – especially those a little off the beaten path, or with some funky features – it can be quite a different story. Prices were down in certain areas of Calgary.
Investment properties are in demand. Savvy investors have impacted the Edmonton market in unique ways.
Overall, those people in a position to pay cash for properties have been picking up the good deals in the marketplace.
Lots of sellers are trying out speculative prices just to see if anyone bites, but most investors are walking away from deals that don’t pencil out.
Financing is still a major obstacle for buyers. Banks are being incredibly strict, requiring more money down and changing their lending criteria.
Sound confusing? It is. But We Can Help.
There’s a lot of shakeup in the Alberta economy still taking place, and the markets are moving slowly, but still moving.
We’re investing in Calgary because we believe in the community and the people here.
If you need to sell a property near Calgary, we can help you.
We buy properties like yours from people who need to sell fast.