What a year it’s been already for Calgary real estate. To sum it up in two words, I’d say “heated and swift”. My last few nights with buyers have been spent viewing a house, making an offer and then hoping for a situation that’s free of aggressive competition. The latter part of this statement has been fizzling, with multiple offers turning into a normal occurrence these days.
As of January 2021, if you see a decently priced property in a good location it’s likely gone within 24 hours. To further exemplify the “heated” nature of the market I want to share with you what happened with a listing I made today compared to last year. Keep in mind that this is the same house listed in the same month but one year apart:
House for Sale Today (2021)
Desirable location within the community of Scenic Acres (NW Calgary)
Within 12 hours of the listing going live:
- 9 showings booked first day on the market (4-7pm)
- 8 showings booked for the following day
- SOLD within 24 hours for 98.3% of listed price
vs. Same House for Sale in 2020
Desirable location within the community of Scenic Acres (NW Calgary)
On the market for 6 months (180 days):
- 50 viewings total
- No offers
It’s definitely a different market.
This makes for a stressful environment which is why I’m writing this — to make clients aware and help ease any stress. Know that right now most offers are coming in higher or close to the asking price for real estate with limited to no conditions. Additionally this is often happening on the same day a property is listed, hence the “swiftness” of the market.
If there is ever a time to seek the help of an experienced agent, this is it. My job is to reduce the stress brought on by a heated market. A realtor’s extensive knowledge of real estate (homeownership and legalities) and our negotiation skills can get both buyers and sellers an end result that they desire.
My business partner, Brett Sutherland, and I are here for you 24/7 to help show and find a home for you during this bullish housing market. Please don’t hesitate to contact us (chris@chrisrichter.ca). You can reach out at any time and ask for a complementary market analysis to know what your home is worth.