This is the first issue of 2018 so we have the opportunity to review what happened last year and share our thoughts on the year to come. Let’s start with a look back on 2017.
On second thought, as airdrielife is about “celebrating the good life” in Airdrie, let’s just skip to what’s coming up for 2018. Just kidding … kind of. The truth is 2017 was just meh. The year started off well but when spring hit, that confidence in the market turned into a large increase in inventory.
We were able to maintain a similar number of home sales in 2017; however, pricing did take a hit, with the average sale price going down $10,000. This was the first time since the start of the recession that we saw the average sale price decrease significantly.
Although things are getting better, we are still working on our recovery. The Calgary Real Estate Board recently put out their forecast for Calgary and area and said the number of sales should be about the same and pricing should stay pretty level. We are leading the country in GDP growth, but we are also coming back from a greater deficit.
Other pieces to the real estate pie for 2018 include the job market and mortgage rules. Both of these things have pros and cons that impact buyers and sellers. Despite the “meh”ness of the forecast, there are still positive takeaways and living in Airdrie is one of those!
Positive Takeaway No. 1: Buyers can be confident that buying today will be a good decision and they should not lose value in their homes. It is especially a great time for first-time buyers to jump into the market and start building equity in their home.
Positive Takeaway No. 2: Airdrie’s benchmark pricing (call us if you want an explanation) is approximately $127,000 cheaper than in Calgary for a detached home. So, if Calgarians want to stretch their dollar and buy their dream home or sell what was their dream home and put some equity in their pockets, Airdrie is a fantastic place to do just that.
Positive Takeaway No. 3: Airdrie is becoming more and more vibrant every day. With great restaurants, shopping, recreation and a wonderful community spirit, it is a great place to call home. Believe us. If you do … you won’t be disappointed.
Michelle and Matt Carre are real estate professionals with The Carre Group/Redline Real Estate Group