Thursday, January 7, 2021 / by Chris Matlashewski
It Depends: New Year's Edition 2021
Calgary's Residential Real Estate Market performance in the second half: an increase in sales just about offset the initial impact to the start of the year. Interest rates are low, reductions in supply and home prices are still below the long term average, all leading to balanced market conditions and a seller's market in some areas. Detached sales were strong, with over 10,000 sales in Calgary. The semi-detached market has sales and lack of supply is starting to affect home prices. The biggest surprise was the apartment sector. The best month in sales since 2014, but still 10% off pace since the beginning of the year. Outside of Calgary, Airdrie, Chestermere, Cochrane and Okotoks all have very low inventory levels, and have seen an increase in home prices across the board. Thinking about making a move, be sure to call us for the inside track on the style of home and community activity to ensure you maximize your value.
