“If you listen to your local experts on how to price, present and sell your home, you’ll do just that”
Hold onto your hats Airdrie; we’re not out of this funk just yet! The current real estate market is still trying to find its stability and recent statistics indicate we’re not going to see a significant change in the short term.
When I am asked by clients (almost daily) how the market is and what to expect this year, I simply try to stay positive and reassure them that real estate is still a safe and reliable investment. I don’t suspect 2019 will be any different of a market than 2018 was. If you listen to your local experts on how to price, present and sell your home, you’ll do just that.
We as Realtors rely on “stats” to educate our clients as to how they fit in the current market. Every client has a different opinion of statistics. These help set expectations with respect to validation of worth using recent market activity. The concept of statistics is to look back in time; they are sales that have happened in the past and are used for the present pricing or as a guideline to forecast the future market.
I say let’s try something different in 2019 and start thinking more positively about the largest investments most of us make in our lifetime. Let’s strive to bring back some higher numbers to our city, set some new standards and engage in ensuring a better, brighter future for Airdrie’s real estate.
As I’ve said multiple times before, real estate is similar to a roller coaster; there are ups and downs! We experienced a slower end to 2018 than all of us in the real estate industry would have liked. Airdrie saw only 45 total sales and 68 new listings in December of last year.
Recently I’ve noticed that single-family homes priced in the lower ranges ($285,000 to $325,000) seem to be flying off the shelves if presented, priced and marketed correctly. If you’re a seller in the higher price ranges stay patient and make sure each and every private showing you have counts. Go the extra mile when it comes to showcasing your property as I’m sure you’re all aware that the buyers in our market have lots to look at.
Historically it is very typical for inventory levels to climb in the spring market and I suspect this year will be no different. The average days on market for all sectors have increased. Expect it to take some time to sell your home and let your real estate professional market it to the best of their abilities.
Interest rates for prospective buyers are still very attractive. At press time, a five-year fixed best rate is 3.49 per cent, and a variable is 2.91 per cent, which is still quite appealing for the Airdrie homebuyer or investor!
Any sign of continued recovery in the energy sector could result in a faster rebound in housing demand, as homebuyers may start to realize what great deals are on the current market.
My advice is simple. If you’re a seller, be patient for the right buyer to come along. All good things come in due time. If you’re a buyer, take advantage of these low rates and ample inventory levels to obtain an optimal real estate investment!