Thinking of buying or selling a house? It’s important to know where you’ll get the most bang for your buck! Canadian real estate platform, Zoocasa, recently shared the most and least competitive housing markets around Calgary and here’s what you need to know.
According to their study, Calgary is currently facing the lowest number of new listings it’s seen in 30 years, affecting anyone in the area looking to make their next move.
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“With 2023 underway, we analyzed market competition across the Calgary region by comparing sales and new listing data for each region in January,” they wrote.
“This data was then used to determine the sales-to-new-listings ratio (SNLR) for the month, calculated by dividing the total sales by the number of new listings in each region. The SNLR is used to effectively show the level of demand and supply in each area, and help identify how much competition local buyers face with regard to supply.”
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SELLERS
Good news for those looking to relieve themselves from home ownership! Due to the sales pool being so shallow, the majority of markets are actually in your favour.
According to Zoocasa, Willow Creek, Mountain View, Airdrie and the city of Calgary have remained in the seller’s direction, not unlike the year 2022, when all 11 markets were well above 61% SNLR.
BUYERS
Buyers, on the other hand, should beware unless they’re in the Wheatland region. Here, the sales-to-new-listing ratio is only 35%, so start packing if you’re interested in moving east of Calgary!
If of course, you’re in the Kneehill region, Vulcan, the Foothills and Chestermere areas, Rocky View or Bighhorn regions, buyers and sellers will likely feel like equals.
So, there you have it! The most and least competitive housing markets in Calgary. Now, get out there and do what you need to do, but not without research! You can never be too knowledgeable.
