My Marketing Director asked me the theme of this months’ update, and I told him this…
“There is no end in sight!”
This month can be summarized into a pretty short & sweet, yet powerful, message for all Greater Calgarians…
Last month was the absolute best December on record!
The previous high-water mark was way back in 2006, but there’s been no December in the last 14 years that has come remotely close to the sales we experienced this past month.
We finished 2021 with one of the lowest-ever Active Inventory levels
to close out a calendar year.
And we just hit the highest Benchmark Sales Price of the year
in the depths of a bitter cold Christmas season!
And, as a result of all this, we are seeing one of the strongest real estate markets we’ve ever seen to start a new year.
As you know, Calgary’s history is full of boom & bust cycles and, after a long slide and then a massive resurgence in our market last year, we have set the stage for what will be a wild 2022.
A couple things of note:
Each property type is acting differently. But, as you’ll see on the following graph, the detached market is our strongest. My latest calculations have the Months of Supply in this category to be about 0.8 months. That means that if we didn’t list any new homes, it would take about 3 weeks to sell through everything on the market. That’s fast!
The only property type not in a sellers’ market is the apartment market. It went from a buyers’ market in 2021 and now is in balance (which is still a good thing).
Positive signs are being seen across all price ranges.
There isn’t a price band that isn’t experiencing this positive sellers’ market.
Also, a great thing.
And it’s happening everywhere – across Calgary’s 8 districts and our rural satellite regions.
There’s positivity everywhere and, when looking closely, some of those satellite communities are experiencing stronger market conditions than Calgary is, so you’ll need somebody that knows their local stuff to give you the best advice in 2022!
So, in Summary, here’s is my take on things:
There is absolutely no doubt about it, Buyers will need to be sharp!
Every single reasonably-priced home will see a great deal of interest upon launch. So, have your pre-approval locked & loaded (and not some online-only thing with a bank – get with a broker who can act quickly for you.)
If you’ve had any thoughts of selling, this is your year!
Maybe you’ve been wanting to finally get some money out of that investment property, or you’ve been wanting to maximize the price on your renovation. This is your year! There is absolutely no telling what will happen in the years to come, but the perfect storm exists right now to do very, very well on your sale price. Not inflated, mind you, but really, really good!
In 2022 you’ll need the help of somebody who really knows what they are doing!
This year will be a “tale of two realtors” – agents who know what they are doing and can properly support their clients to maximize this market, and agents who simply don’t understand this exceptional and fast-changing market and let their clients down. So, pick wisely in order to win in 2022.
If you want to have a consult with one of our experts at Redline | Real Broker, please reach out and we will connect you with a specialist.
We’ve just come off our best year ever and our agents are selling at top-of-the-industry rates!