Are Home Prices Rising in Calgary?

McInnis Realty Group Podcast

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation

Today I want to update you on the real estate market here in Calgary. We're currently seeing a buyer's market in most price points. This is especially true for high-end homes.

Housing inventory is currently very high. The price drop in oil and gas has definitely played a role in our market, as we are an oil & gas city. This does affect the value of homes in the area, and condos have seen the biggest drop in prices. However, this doesn't mean that you can't sell your home. Prices have only dropped by a few points percentage-wise.

As far as interest rates go, they've never been this low. This gives you the opportunity to save thousands of dollars over the lifetime of your loan. If you haven't done so already, I urge you to get pre-approved so that you can take advantage of these rates. I don't think they could possibly get any lower.

Overall, if you're selling in Calgary you'll need to pay close attention to your list price and the overall condition of your home. If you're buying, you're going to have a lot to choose from and your experience will be a little more relaxed. You'll have time to wait when making an offer, so when you find a home you like don't be frightened to wait a day or two in order to make a decision.

If you have any questions about Calgary real estate, please don't hesitate to contact me. I would love to consult with you in order to plan a successful real estate transaction!