Let’s dive into what’s happening in the Calgary and surrounding area real estate market this September. Things have been quite interesting, with a mix of ups and downs that both buyers and sellers should keep an eye on.

What’s New?

• Home Sales: Sales have slowed down a bit, with a 20% drop compared to August last year. It seems like the market is taking a little breather after a pretty busy period.
• Inventory Levels: There are more homes on the market this year. Inventory has shot up by 37.3% from this time last year, though it’s still not quite at the levels we usually see. We’ve got about 4,487 units hanging out on the market right now.
• Prices: The overall price for homes is holding steady. The benchmark price is sitting at $601,800, which is up by 6.3% from last August. Prices took a tiny step back from last month, but nothing too dramatic.

Tips for Navigating the Market:

For Buyers:

1. More Choices: With more homes available, especially in the pricier segments, you’ve got some room to explore and maybe even snag a deal. Don’t rush—take your time to find a spot that really suits you.
2. Stay Ready: Keep that mortgage pre-approval handy! Markets can shift quickly, and you’ll want to be ready to jump on the right home when you find it.
3. Check Out All Your Options: With the market being a bit varied, some areas and home types might offer better deals than others. Keep an open mind and look around—you might be surprised at what you find.

For Sellers:

1. Price Smart: With the market cooling slightly, setting the right price is crucial. You don’t want to scare off potential buyers by aiming too high right out of the gate.
2. Market Well: Good photos and a solid online presence can really make your listing stand out. In a market with lots of options, you’ll want your home to shine brighter than the rest.
3. Negotiate Wisely: Be ready to talk turkey. Buyers might try to negotiate more aggressively with more options available, so prepare for some back-and-forth to get to a deal that works for everyone.

Looking Ahead: The market seems to be moving towards a more balanced spot. There’s enough activity to keep things interesting, but we’re also seeing signs that things are stabilizing. Whether you’re buying or selling, staying informed and flexible will help you make the most of the current conditions.