For Immediate Release
September 7, 2022
I'm a Calgary real estate advisor: Here are the 5 things I'm telling home sellers right now.
Calgary, AB -- Alberta is a pretty great place to live right now. And a great place to be a home seller. High employment growth, lower taxes, a strong energy sector, back-in-the-market buyers inside and out-of-province, affordable housing and housing starts are some of the reasons why the Alberta government’s #albertaiscalling campaign is wooing skilled workers from Toronto and Vancouver.
The national real estate headlines don’t tell the whole story. Calgary is stable and undramatic.
I’m often asked if we’re just catching up to other major Canadian cities in slow motion, or if Calgary real estate really is in a class of its own. It’s the latter. While the pace of early 2022 has slowed from total chaos, Calgary has seen the least dramatic turn. Starting the fall season off right, YTD total home sales as of the first three days of September are up 17.98% over the same time period in 2021, and average home prices YTD have moved the needle forward by 5.04% from $496,852 to $521,910.
The skyward move of YTD row and townhome sales is up 47.51% from 2,787 to 4,111, demonstrating they are an attractive option after a year-over-year ebb in detached home sales. YTD new listings in the row and townhome sector have also grown by 19.01% from 4,262 to 5,072. Already, from August 28-September 3, total new row and townhome sales are up 8.54% (Source: CREB)
Calgary home prices should remain steady.
According to a Desjardins Economics study, Canadian average home prices will likely drop by 25% by the end of 2023. Even if average Canadian home prices did drop (from the highs in February of this year), I don’t foresee that kind of plummet in Calgary. In fact, I would expect average home prices to remain pretty steady. Calgary home prices were truly suppressed from economic pressures due to the energy collapse in 2014. The downward housing prices from 2015 to 2020 means that Calgary was already becoming even more affordable. When we did see the uptake from the market, it wasn’t the huge price gain experienced in Toronto and Vancouver. Ours was modest.
More buyers are returning to the market to find their dream home.
Calgary sellers are well positioned and aggressively marketed homes are still achieving very favorable selling prices. We are still seeing strong demand across all sectors. There are even some buyers who are choosing to re-enter the market after taking a break from the crazy market conditions earlier this year. They are feeling optimistic they now have the chance to find their first or next home without the crowded competition. We are also still seeing a number of buyers coming in from Ontario and B.C.
Alberta’s economy is good for real estate.
Oil and gas – and Alberta real estate -- have something in common. There are positive economic conditions in Alberta, from high energy prices, to a 4.8% unemployment rate and new housing starts. Historical cycles in the Calgary real estate market show that we typically do well when energy prices are high. These are the supportive economic indicators and engines.
Choose a real estate advisor that has the online marketing technology to bring you easily to the finish line.
Selling a home is hard work. You want to have the marketing clout behind you to move forward with confidence. Calgary.com is a great example of a leading-edge real estate marketing destination that gives you everything you need to sell with confidence – and the little extras that make moving in and moving out so much more manageable. Things like financing and mortgage broker connections, and moving concierges. You can also see what homes have sold for in the last two years, and even research your own community or the one you’re moving to. Go ahead and be a snoop.
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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