PRICE DECREASES in the Calgary Real Estate Market | Signs of Slowdown?
ฝัง
- เผยแพร่เมื่อ 5 ต.ค. 2024
- 🗓 Schedule Zoom call with Adam → bit.ly/3u6Pm2j
🏠 INSTANT Home Evaluation → bit.ly/Instant...
🔎 Start your Home Search → bit.ly/3KZmBdw
📚 Benchmark Attributes → bit.ly/Benchma...
📝 Monthly PDF Reports → bit.ly/YYCpdf
─────────────────────
Calgary’s real estate market is seeing a shift as prices dipped compared to last month:
📉 Benchmark price: $596,900, down $4,900 from last month, but still 5% higher than last year
🏠 Detached homes: $757,100, a $5,500 decrease compared to last month
📊 Sales: 2,003 units in September, 17% below last year’s record high, but still 16% above typical levels for this time of year
🏡 New listings: 3,687 units, the highest for September since 2008
As Ann-Marie Lurie, Chief Economist at CREB®, notes, “We are seeing more new listings in higher price ranges, but the limited choice for lower-priced homes is still impacting overall sales.” With inventory levels reaching 5,064 units and months of supply up to 2.5 months, the market is shifting toward more balanced conditions, though it still slightly favors sellers.
This shift presents new opportunities for buyers as improved supply and lower lending rates continue to support demand. Watch the full report for all the details on how these changes could impact you!
─────────────────────
🎥📝 *Must Watch Playlists * 📝 🎥
Top 10 Things to Do Playlist → bit.ly/3kZ7l66
Monthly Real Estate Updates → bit.ly/3HhVuaQ
Calgary Professional Advice → bit.ly/3HO0G7P
TH-cam Shorts Playlist → bit.ly/3DwGhkW
Buying a House Playlist → bit.ly/3jg9kTj
Selling a House Playlist → bit.ly/3YcJQVE
Buying & Selling Advice → bit.ly/3DuSxCw
Home Tours in Calgary → bit.ly/3DwGhkW
The Truth About Calgary → bit.ly/3RqzH5f
Virtual Tours of Calgary → bit.ly/3RqtF4A
─────────────────────
🚶🏻♀️ Follow my Social Media Journey 🚶🏻♂️
Instagram → bit.ly/3mvYDuF
Facebook → bit.ly/3ny6g2O
TikTok → bit.ly/3Ii1Zv2
Linked-in → bit.ly/3pNEsKE
Google → bit.ly/3jOyLYZ
─────────────────────
Contact Adam Fyfe:
🏢 eXp Realty Canada
💻 Email: Realty@AdamFyfe.com
📱 Phone: 403-561-8747
─────────────────────
Normally I watch these videos pretty fast after you post. These comments are pretty negative but I am with you Adam I just don't see it happening. With the interest rates dropping and the new government mortgage rules Calgarians better get used to these new prices cuz you're all out of luck. Also what time is your Live on the 14th?
I think we had too many speculation buyers from ON and BC. As much as I want to be wrong I think Luke (Market Mania) is somewhat correct! This is starting to look like a worrying trend along with the jobless figure. I also dont think Calgary is creating jobs for new people arriving as so many people work remote for ON and BC companies. Thanks for the great video as always Adam, you are the best, peace out! 😊
Luke is right about many things...does he also not live in Calgary? have faith !! then create jobs
Luke has been saying the same things 5 years ago. Since The house prices have been up 200%, He could be right once. 😂😂😂
@@stephenfermoyle4578I know a guy who listened Luke and did not buy in 2018. Now he is still renting and I living in the basement.
I can see correction for sure, don’t get me wrong I just don’t see the MASSIVE correction people are hoping for.
I’m all for it; I wouldn’t be upset if we saw a massive dip. I would almost prefer it to be honest these prices are getting unrealistic. I just don’t see it happening in Calgary. Not this year coming at least
Luke's channel thrives off of negativity and spinning half truths to meet his doom and gloom bias. Could be wrong but I don't think I've ever seen a video of his that paints any other picture of Calgary or Canada, but drama sells I guess. Has he finally moved away or still just talking?....
Some sellers in Crowfoot area thought it was April. Forced to lower their prices 5-10% or more. I also see infills in places like Highwood that are going for 1.5 each. Crazy if you saw the quality of workmanship as it went up.
Same thing all over the 'inner' NW (Tuxedo, Highland Park, etc...). I really feel for the buyers and while I don't think they'll get asking, buyers will definitely have issues in 5 years.
This is a great topic idea for my live on the 14th!
Thanks for the comment 🤙🏼
@@blackbirdbeatle tuxedo and highland park are not innner city lol
Eventually oil will drop and Calgary prices will drop with them. Right now though, oil is on a tear with all the Middle East stuff. Nobody is buying because everyone knows interest rates will be 1.5% lower in a year, so just a holding phase, whether it booms or dips will all turn on that oil price six to twelve months out.
Didn't you say the unadjusted benchmark price wouldn't drop under 600K in your video last month? 🤔
Maybe I did. Maybe I didn’t 🤔
I’d have to rewatch it
Rental market is MASSIVE slowdown right now
I’ve been told, I need to do some research on that before my live on the 14th
Don’t know i bid on two inner city lots but they went fast in few days.
Lots are super hot right now because of that rezoning..
Pretty hard to win stuff like that on market. You should start an off market strategy with google maps and pulling titles
Honestly good to see investors offloading their stocks. Make Calgary great again
Agreed. We go from not having enough people looking to sell earlier in the year too to many people all at once. Gotta love the cycle
ohhhhhh no run for the hills !!! LOL have faith '' if you build it they will come''. what movie is that from?
Not sure, I can see inventory being an issue going into the winter like most years but not sure how much of an issue it will be going into summer 2025
I know a plenty of ON and BC people who moved in and they alrrady want to leave. Their housing market is crashing and there is more job opportunities on those markets. Calgary real state is about to have a huge correction
Great! It is too many people in Calgary now
I’d be pretty stoked too see it, I’d actually praise it if it happens. I want a correction, I dont want these prices.
I just don’t see it. Yet.
@@marcuslatansa4202 Toronto unemployment rate is like 6%. When the Calgary crash coming ?
I know many of ON/BC people have remote job. They are staying and working
I moved here from Vancouver. I don't wanna go back there but the appeal of Calgary has certainly worn off. I sold my home and am renting now to give me options to leave when I want
Calgary will never be toronto or vancouver,
True, because of the cyclical nature of the Alberta economy.
I sure hope not.. those prices are stupid and unrealistic
Let's hope not
@@Adamcfyfe
It will not be like Vancouver for sure. I live in Calgary for 40 years. Calgary housing market is like a roller coaster . When it used to up, it can be crazy , but when it is slow down , it can slow down for 5 to 8 years. I see this 4 times in Calgary already. I know some realtors told me ppl buy in Calgary from BC are planning to sell in Calgary and trigger gains that they expect it is the highest in Calgary, they use this gain and buy back in Vancouver before it is bounce back. Some big companies like Amazon in Vancouver requires staffs to back to office in 5 days, hard to work in Calgary and work from Vancouver. They own a place in Calgary, either rent it out or sell it. You will see more inventory in coming year. Plus, Calgary has higher unemployment rate , hard to find a job.
I know if ppl living in Calgary for long time, they will sell house in Calgary not buying . F you buy now, very likely under water .
I have a friend bought condo in Calgary 8 years ago which was very high prices, if he sells now, it usually still under water after paying realtor fees.
why tf you want to be GTA/GVA?
BS
Which part?