March 2021 Market Update
What does the Calgary real estate market look like at the end of February 2021? Jeff Neustaedter discusses the state of the market, and the trends homebuyers and sellers should know.
TRANSCRIPT:
Jeff: Good afternoon, hope you’re doing well!
I want to apologize for sending out all the videos, but we’re in such a dynamic market right now — I think a lot of people are hearing different things, so now you can get exactly what's going on straight from the horse's mouth.
It’s busy! There were over 800 sales in Calgary last week, which I think is the highest I remember in the 20 years I've been selling real estate. So that’s very awesome. Starting in October 2014, prices slipped for about 5.5 years, we had a little bottoming out, and now in the last two months, we’ve gained back almost all of that drop in value. Not in condos, but in the single-family market, and not in every segment, but in the broad market, that’s what’s happening. So that’s positive!
This is not a case where prices are going to continue to escalate, but prices have come back up to a new base point. My anticipation is that this is going to continue on as we go forward. Because there is lots of land around, I don’t feel this is going to be a prolonged push upward where it goes up and up. It’s not going to happen that way. I feel very confident in this. We were predicting some price push-up, I didn’t think it would be quite as much as what this was but it’s still awesome. Now, for everyone that owns a house, this is where the situation is at.
Zoe: There’s a lot of buyers out there! We’ve all been working with a lot of buyers, and we’ve been in competing offers on multiple properties which shows me that there's plenty of buyers looking for the exact same product. People aren’t necessarily willing to go over and above the listing price or to list in some competing situations, depending on the property and depending on what it’s priced at. But there are still a lot of buyers out there because of the low-interest rates — they're trying to lock in and get something within the next three months, so that's been great. If you are thinking of maybe putting your house on the market and you’re not sure, we'd love to discuss with you the specifics of your property because it could be different depending on where it is, what the house is, etc.
As far as what we're doing online, we seriously amped up on our online presence since everything with COVID. We had no other choice. Print media is not dying, but it's certainly not some not needed in the same way that it used to be. So we pivoted and we're really investing in our Instagram and our Facebook. If you don't follow us already, it’s @neustaedterteam on Instagram, and on Facebook it’s The Neustaedter Team, and you can just like us to follow along!
We’ve also paired up with an agency that’s helping us because they’re experts in Instagram and we’re not, and we've been seeing a lot of success in getting our properties in front of even more people than we were able to before, so that's really exciting.
Jeff: And we’ve got the big billboard by the Casino coming back from Canmore and that looks good, so stop and give it a wave as you drive by!
If you have any questions please call us at 403-208-0555, same number as it's been for 20 years. We’re grateful for the business, grateful for loyal friends and clients who have really helped our business, we’re grateful for the business that we do, and we’re really grateful for the service that our team can provide.
Thank you and again, call us if you have any questions, we’d love to talk to you!
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DISCLAIMER: The suggestions, advice, and/or opinions expressed in this video are simply perspectives based upon experience, and are not guarantees of set outcomes. Always consult with licensed professionals directly when doing a real estate investment transaction.