What to expect in Calgary's Summer Real Estate Market
Spring is traditionally a very busy time in Real Estate. As we leave spring behind and move into summer, what can we expect from Calgary’s market? In short: an increase in stability.
Listing numbers have been high and sales have slowed this year, but we are starting to see a bit of a rebound. Buyers are gaining confidence again. New residential listings have decreased 27% since May of last year (CREA). This means that the market is no longer glutted with listings and that, while still a buyer’s market, sellers are also in good shape with less competition on the market and steady average prices.
The current market puts both buyers and sellers in a strong position. We are starting to see some real stability to the Real Estate market in Calgary, and that stability should continue throughout the summer. Though not as busy as the spring market, the summer market attracts those who want to make use of the warm weather for an easier move, those who wish to be settled in their new communities before the new school year begins, and those who still feel like low interest rates make now a great time to buy.
Both builders and banks are offering unique incentives to buyers and this is a great time to take advantage of them. There is a solid selection of inventory to choose from and mortgage rates remain at historic lows. Seller’s looking to move-up will benefit on both sides—less competition to sell their current home and great interest rates and selection for their new home.
Homebuilders are seeing a wave of buyers in the form of first time homebuyers. First time buyers benefit greatly from the current mortgage rates and special offers. They also have a lot to choose from. NuVista Homes has a new Duplex showhome in The Willows in Cochrane. Our duplexes are perfect for young families looking for their first home—without having to worry about condo fees! Our Abode line in Airdrie is great for empty nesters looking to downsize. We also have exciting projects in the Inner City and Evanston. Call us today for more details—remember, at NuVista, it’s all about you!