The Calgary Real Estate Market has seen quite a drop in inventory so far this year. In January, new listings fell to the lowest levels seen since the late 90s. While new listings went down in nearly every price range, the pace of decline was higher for lower-priced properties. This is likely because higher lending rates are causing many buyers to seek out lower-priced products in our market. Higher rates are likely also preventing some move-up activity in the market impacting supply growth for lower priced homes. This is causing differing conditions in the housing market based on price range. It is definitely an interesting market right now, with good opportunities for buyers and sellers who have some flexibility on timelines, location, and housing types.
In this issue, I am showcasing a new listing in Cornerstone, a beautiful new community in Calgary. I also share the benefits of buying a resale property in new communities, things to do on March Break and more!
Looking to buy or sell in 2023? Give me a call to discuss your options!
~Richard
