What's happening withCalgary's Strathcona Park Real Estate Market.
I spent Saturday morning at 6am looking at the recent sales in Strathcona. What better time to do it? That's a debatable topic but I wanted to know the stats and I am booked from 8am-6pm with showings and meeting clients so I figured I should get it done now. Sales numbers for the last month are low but better then in 2015. There were 6 homes that sold ranging from $275,000 to $805,000. There were more homes that sold in Strathcona in 2016 than 2015 6 vs 4 but the difference in Days on Market (DOM) and asking price is reallying growing.
In 2015 the average home sale price was lower but in 2016 there were a couple homes above $750,000 that sold in Strathcona last month. Considering homes above $750,000 are getting hammered in the market right now; sitting waiting for a sale and with large price reductions I am surprised we are seeing more activity in that segment in Strathcona this year. Smart sellers pricing aggressively is my guess!
Taking a look at the 'real' sales numbers (what the initial asking price was, not the difference in price when it sold and the DOM from the initial time it was listed) from last month the homes that sold were on the market for an average of 115 days and sold within 88% of asking.
In Jan 2015 only 4 homes sold but the average days on market was 58.5 days and the average sale price was 96.3% of asking price.
Having looked at Cougar Ridge, Killarney and Calgary as a whole; these are definitely trends that I am seeing across the housing market in Calgary; sales numbers are similar to previous years but the amount of homes not being sold is up with the average days on market increasing substantially, along with a reduction in the sold vs asking pricing.
Where does that leave us? I think that if you are considering selling your home that now is the time to do it. I would list in March when there is historically an increase in buyers and price your home aggressively with the goal of being one of the homes that sold that month instead of one of the increasing number of home owners who have not sold.
If you have any questions about theCalgaryreal estate market do not hesitate to contact me.