Thoughts on a buyers market
The buyer’s market in Calgary refers to the point in the market where sales have been low inventory is still fairly low, but maybe sales by the end of summer will be on the way back up. You need to consider moving forward to purchase whilst sellers are still more realistic with their list price.
As a seller, you do not need to be unhappy that it is a buyer’s market. A buyer’s market does not mean that your home won’t sell. It just means that a) your home may not sell for what you are expecting for it.b) Be on the market for longer whilst buyers are on the sidelines. Therefore, if you are planning on selling your home in a buyer’s market, abandon all sentiments and set realistic expectations by looking at recent sales of comparable properties, and their days on the Calgary market
If you are not happy with the statistics regarding recent sales of comparable properties, you might want to wait until the market turns in your favour. As a seller in a buyer’s market, you need to be very motivated from the beginning, otherwise your property may end up going stale on the market. Only put your home up for sale in a buyer’s market if you are a very serious seller.
As a buyer, you will get to pick from many options in a buyer’s market. However, this does not mean you should skip your research. Evaluate all your options – in fact, during a buyer’s market, prized locations which were earlier not available within your budget may open up. You could choose to seize the opportunity and enter the best areas while you have the chance.
Our advice is that you should move forward in a buyer’s market only after having a team talk with us, we can provide real time data that will help you find the best deals in today’s market, days on market, previous sold price, area average days on market, previous list periads, comparable solds only.
Food for thought
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