Earlier this week, RE/MAX Canada released their Spring Market Trends Report, and Calgary is expected to remain a red-hot seller’s market. According to the report, in the first quarter of 2014, listings are down 30% from that of a balanced market, which is pushing up prices.
Despite an increase in inventory in the Calgary area, we are expected to remain in a seller-driven marketplace for the Spring season. In many cases, sellers are dealing with multiple offers right now in our city.
The average Calgary home price was $484,918 at the end of March, an increase of five per cent year-over-year. Upward price pressure continues to be driven by inventory, low interest rates and a robust job market. – RE/MAX Canada
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