Overall, Calgary’s inner city market has improved from May to June, which is surprising since we usually see the real estate market relax in June in preparation for the summer months. Well, considering the late start in the year, it’s kinda not surprising.
For both condos and single family homes the inventory has gone down a bit and the median prices have gone up. Added to that, the days on market have decreased as well, by a few days. So this tells me that, for Calgary’s inner city we are experiencing a seller market bordering onto a balanced market. What this means to buyers? I wouldn’t sit too long in deciding to put an offer in, especially if the property is priced well. You’re bound to have competition if you think about it over night.
When looking at the 2 bedroom condos, there has been a bit of a drop in price, an increase in inventory and a decrease in sales. All this amounts to is a more relaxed market in June. I suspect that with half of July dedicated to Stampede festivities, we’ll be seeing an even more relaxed month.
Click on this link to get the Downtown CONDO REPORT June 2015