Monthly Archives: June 2012

June 1 – 10 market update

Some first-hand evidence of the hot Calgary market. My clients purchased a home on the weekend after looking at six inner-city properties. There were three other new listings on the agenda which we wanted to view, but the homes were sold before we had an opportunity to see them.

Over the weekend, 19% of the sales were for list price or higher.

Bidding wars update

June hasn’t shown any changes in the bidding wars happening in Calgary’s real estate market. So far this month, 13% of all single family homes have sold for list price or higher.

How much did someone pay for 6400 sq ft of dirt? A tear-down in St Andrew’s Heights recently sold for $651,000 after being listed for $645,000. It had an accepted offer after one day on the market.

A brand new 3713 sq ft home in St Andrew’s Heights recently sold for list price at $2.3 million.

The solution to high prices

The expected slowdown in Vancouver real estate is now occurring. An authority on the market comments…

“Somerville said he can’t pinpoint a specific reason for the sales slowdown, but  that factors could include a lack of faith in the economy, a slowdown in  offshore investment or buyers refusing to pay high prices.”
Talk about stating the obvious. Read more: Vancouver Sun real estate numbers signal slowdown