To Sell or Not to Sell? How to Manage in the Current Calgary Marketplace

While you might have second thoughts about selling your home right now, the Mel Star Team is here to help you make sense of a fluctuating market. Below is a current market update for 2019, as well as advice on selling your home in the current marketplace.


 

Market Update

We started off the New Year in a tough position, where the vacancy rate was at an all-time high and sales were off 20% in December. While it may not look like a good way to start the year, there were still 800 sales made in December, which is positive news if you’re looking to sell.

In reality, the marketplace is still nowhere near where it should be, which is why paying attention to these changes in Calgary home sales will help you adapt in a way that is beneficial to both you and your real estate agent. The Mel Star Team has the tools to help you gain the right perspective when you want or need to sell your home, even when you are doubtful of the current economic climate.

There are some key points that aren’t being talked about:

Bank rates and lending options haven’t been this good in years, while the spread between mortgage payments and rental options means investors are doing quite well. Although February 2019 saw the slowest sales since 1996, that’s not necessarily a bad thing.

Selling Information

When listing your home with MLS Calgary, it is important that your property be ready for presentation. A first impression is the most important element impacting the outcome of a buy when trying to sell your home.

Current Calgary MLS stats indicate an average house price of $449,563, with 2,298 new listings in the last month. As of February, Calgary housing data shows median days on market for a home is 49 days.

If you feel like the market price for a home is not what you had hoped, here are two factors that typically change the average home price. The proportions of home types sold have changed, meaning the mix of homes sold has shifted from a majority of higher-priced homes to a majority of lower-priced homes or vice versa. Because of that, and assuming the mix of homes is stable, these homes are being sold for more or less than the last period, meaning if the average price of last year decreased, all homes sold this year were for less.

Preparing

There are many things to consider when preparing your home to be listed.

  • Exterior - It is very important that the exterior of the home is well-maintained with clean windows, a well-manicured lawn and landscaping. While this may seem minor, it is in fact very important for the exterior of your home to look sharp and ready for its close up.
  • Interior - The interior décor and presentation of your home are also important, and items such as working light bulbs and household cleanliness are factors that help your home present well. Many buyers can be turned off by these things not being taken care of and that can affect the final decision between two houses.

There are many positives in the current marketplace for you to sell your home with ease. 

Contact Us Today

The home buying and selling process can be a complex and frustrating experience, but our team of professional realtors are on hand to make the process as easy and simple as possible. To find out more about our services, contact us at (403) 284-6333, fill in our contact form or visit in person at 206-2411 4 St NW, Calgary, AB T2M 2Z8.

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