For Immediate Release
March 21, 2022
“Be Patient. Your Dream Home Could Still Come on the Market,” Real Estate Team Tells Calgary Buyers that May be Priced out of Single-Family Homes
Buyers who could afford the competitive marketplace have already purchased their homes to beat higher interest rates, giving patient house hunters a better crack at their dream properties
Calgary, AB – With more single-family homes expected to come onto the Calgary market this spring and summer, patient buyers who were priced out over the last several months could see their dream homes come into play, says Calgary real estate leader Justin Havre of Justin Havre & Associates, Canada’s #1 RE/MAX Large Team in Closed Transactions for four straight years.
“Buyers who could afford the competitive marketplace have already purchased their homes to beat higher interest rates, giving patient house hunters a better crack at their dream properties. This is especially true for first-time home buyers, who have been frustrated after being financially muscled out of the market.”
Buyer fatigue has already led to a rush on row-townhomes and condo-apartments in Alberta’s largest and hottest real estate market, signalling new trends that Mr. Havre says, “will positively impact both the ‘accidental landlord’ and the patient buyer.”
‘Accidental landlords’ are those who ended up with revenue properties they did not intend to keep or were unable to sell during the previous years of economic downturn when the market wasn’t very active. “If they still want to sell, now is the time to list it for an easier and smoother sales experience. But be sure to have a place to go to before selling.”
Row-townhouse 2022 vs. 2021 year-to-date sales have risen 101 percent with 1,161 new sales and 35 percent more new listings. 2022 vs. 2021 year-to-date sales in the Calgary apartment-condo segment grew by 112 percent to 1,283 units. “For buyers who may be priced out the current single-family home market, this new segment is still an affordable option. For those who want to wait for their dream home, have patience. For those who are considering selling their homes, list sooner than later.”
Although single family homes can still be had amid the competition of multiple offers, the market is showing itself not to be a sure thing. “Every day is a new day in real estate. Through their frustration, buyers are starting to decide what a home is worth, and competition will grow organically.”
Even if you can afford a home, you wouldn’t find many in Calgary. While 2022 year-to-date total home sales are up almost 70 percent from a year ago, the median price of a home rose by 14 percent to $500,000 from $440,000 during the same period a year ago. Active listings for single-family homes in Calgary are down 21 percent week-over-week in March.
“It’s a case of supply and demand. Active buyers in the market are obviously still much higher than the inventory available.”
About Justin Havre & Associates
Calgary-based Justin Havre & Associates of RE/MAX First is led by Team Leader Justin Havre, an award-winning real estate agent and community leader who has been in the business since 2005. His commitment to exceptional service and continuous growth has allowed Justin Havre & Associates to help thousands of clients achieve their real estate goals and positioned the agent team as Canada’s #1 RE/MAX Large Team in Closed Transactions for four straight years. Mr. Havre applies the latest technology to his work in real estate and passes that tech-savvy knowledge to the rest of the team. Technology allows Justin Havre & Associates to serve clients more effectively and gives a clear advantage when it comes to locating and marketing homes. Visit us on Facebook and Instagram.
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