Real estate is always such a popular topic. Doesn’t matter if the market is incredibly hot, or sadly slow. Everyone wants to talk about it, educate themselves on it or simply feel like they are in the know. Of course that makes perfect sense because for about 95 per cent of us, real estate is the No. 1 source of our current or future net worth.
Sometimes we talk about really low home prices in certain parts of the country while other areas are experiencing all-time highs. We talk (or reminisce) about crazy-busy markets and lament over the slower times.
What always remains most important when chatting about real estate is the facts about what is happening in our local market.
So far this year we have seen a decrease in the number of sales year to date. As of the end of July, we are down 12.7 per cent. However, it’s interesting that even though the number of actual sales is lower, prices haven’t dipped a lot in detached homes. Condos have taken a bit more of a hit which could be attributed to the amount of multi-family complexes being built. This could be a great opportunity for investors though.
The real estate market is always a topic of conversation and it’s always changing. It’s important to enjoy the broad picture sometimes but when it comes to decision making, focusing in on what’s happening in your city as a price point is what really matters.
With that you have to remember it’s still all relative when you are buying or selling in the same market. When your home is up in value but it’s time to find a different home here in Airdrie, that homeowner, too, will have enjoyed the successes of owning real estate.