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Calgary Real Estate Market Update June 2017

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Published on Jun 1, 2017

Calgary, Alberta Real Estate Market update & prices for June 2017 - David Jablonski - Jablonski Real Estate Group, http://www.jablonskirealestategroup.com
Hi everybody, it's David Jablonski with Jablonski Real Estate Group and RE/MAX First. It's time for the market update for June 2017. May was the month where we really started to see the inventory gains in the market start to happen. So we started to see a lot of new listings come on the market which balanced out some of the inventory levels and in other areas like the downtown condo market it really increased those markets to points where we are now going to see downward pressure on prices. If you have a downtown condo, that market is still in decline. The single family detached home market specifically is doing well although inventory gains have slowed the increase in price or the potential for that now. So what is going to happen now is that you have to look at each individual specific community to determine how to price your home for selling or if you are buying what the true value is going to be and if you are going to have to pay more than you want to or if you can really negotiate. Certain communities don't have a lot for sale, so the sellers have the edge where the other communities have a significant edge for the buyers and they are going to take advantage of that. Be very specific in checking your market where you are looking at before determining the value of a property, it's really important in this market. Also keep an eye on what is going to happen over the summer as well; is it going to be a small increase in inventory that we seen in this past month? Is it a trend we are going to see continue? Will this now start to outpace the sales which are up right now? It is going to be hard to tell, but I do think we are going to see sales above the new inventory coming on which is going to happen with the single family detached market. I really do think that the condo market, specifically downtown still has room to decrease and that market is in a little bit of trouble. If you have any questions or need anything just let me know and I'd be happy to help. Cheers!

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