Calgary Real Estate Market Update

In a market that continues to show resilience, May saw a total of 3,092 resale home sales. While this figure is nearly one per cent below last year's record high, it is 34 per cent higher than long-term trends for the month. The pullback in sales was primarily driven by declines in lower-priced detached and semi-detached homes, where there was limited supply choice compared to last year.

"Although new listings have increased, much of this growth is in higher price ranges for each property type," said Ann-Marie Lurie, Chief Economist at CREB®. “Our strong economic situation has supported sales growth in these higher price ranges. However, this month's sales could not offset the declines in the lower price ranges due to a lack of supply choice."

New listings in May reached 4,333 units, almost 19 per cent higher than last year. This increase in new listings compared to sales caused the sales-to-new listings ratio to drop to 71 per cent, supporting a modest year-over-year inventory gain. Despite this, inventory levels remained nearly half what we typically see in May, with most gains driven by homes priced above $700,000.

While inventories did improve this month, conditions continue to favour sellers with one month of supply. Several districts continue to report less than one month of supply, while the City Centre reported the highest supply-to-sales ratio at one and a half months. Seller market conditions drove price growth across all districts in the city. The unadjusted total residential benchmark price in May reached $605,300, nearly one per cent higher than last month and 10 per cent higher than last May.

For more detailed reports regarding your specific neighbourhood or community in Calgary or surrounding areas, please contact me.

Upcoming Holidays

Upcoming Events in Calgary

• Wild After Hours - Zoo Brew: June 7

• Spruce Meadows “Continental”: June 6-9

• Calgary Stampeders Home Opener: June 7

• Inglewood Night Market: June 7

• World Energy Expo: June 11-13

• Spruce Meadows presents the National: June 12-16

• Neighbour Day Calgary - June 15

• 11th Annual Wings and Wheels: June 15-16

• The Sled Island Music & Art Festival: June 19-23

• Snoop Dogg at the Saddledome: June 21

• TD Jazz YYC Festival: June 25-30

• Sound Atlas Music Festival: June 27-30

• Calgary Night Market: June 28

Small Business Interviews

Take a look at my YouTube channel where I feature interviews with local businesses, share home maintenance advice, and explore various topics related to real estate.

Article of the Month

Preparing Your Home for a Successful Sale: Expert Tips

Selling your home is an exciting journey, but it requires careful preparation to ensure a smooth and successful sale. As your dedicated real estate agent, I'm here to guide you through every step of the process. Here are some key tips to help you get your home ready for the market:

1. Declutter: Clear out excess clutter to create a spacious and inviting atmosphere. Consider starting a Keep, Donate, Toss pile to streamline the process and make your home feel more open and welcoming.

2. Depersonalize: Remove personal items like family photos and memorabilia to allow potential buyers to envision themselves living in the space. Pack away any valuables you'd prefer not to have on display during showings or in listing photos.

3. Deep Clean: A thorough cleaning will make your home shine and convey a sense of pride in ownership. Consider hiring professional cleaners for tasks like carpet shampooing, window washing, and grout scrubbing to ensure every corner sparkles.

4. Make Repairs: Address any minor maintenance issues to present your home in the best possible light. Fix leaky faucets, repair cracked tiles, and touch up paint to enhance the overall appeal of your property.

5. Enhance Curb Appeal: Impress potential buyers from the moment they arrive by sprucing up your home's exterior. Trim the landscaping, mow the lawn, and add a fresh coat of paint to the front door for a welcoming entrance.

6. Stage Your Home: Consider staging to highlight your home's best features and create a welcoming ambiance. Rearrange furniture, add decorative accents, and create a cohesive color scheme to help buyers envision themselves living in the space.

7. Set the Right Price: Trust in my expertise as your real estate agent to determine the optimal listing price for your home. Pricing competitively from the start can attract more interest and lead to a quicker sale. I'll conduct a thorough market analysis to ensure your home is priced accurately.

By following these expert tips, you can maximize the appeal of your home and increase your chances of a successful sale in today's competitive market. Need assistance? Don't hesitate to reach out—I'll connect you with trusted partners to help make your home-selling journey a breeze. Let's get started!

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