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Tuesday, August 6, 2013

Calgary, AB Summer 2013 Market Update


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Hi everyone! Welcome to my video blog!

What’s happening in our current real estate market compared to last year and how will the recent flood affect the market?

Lately, I’ve been asked a lot of questions about the market and how the flood affects it.  So, let’s talk about how the market was before the flood.

From the beginning of the year, we saw an increase of buyers looking for homes.  A lot of sellers wanted to wait for spring to list their home, which is normally the busiest time of year. What this did, though, was create a shortage in inventory.  I believe we are still having that issue now.

It is starting to shift to a seller’s market, but you need to keep in mind that there is still a need for competitive pricing and making sure the home is in good condition.

The second question I’ve heard a lot is ‘how is the market doing after the flood?’

It really depends on your situation. The flooding affected mostly the inner city market. My opinion is the flood will not affect the market too much because those that had homes damaged more than likely had all the equity in their home and it would be very hard to qualify and buy a second home.  I do think, though, the rental market will be a lot tighter.

Sales will still be consistent.  Since January we’ve seen homes selling quickly and at a good price.

Thank you for watching!

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