Should you Sell Now: Calgary Sees Low Inventory Levels Under $700,000

by Ed Black

If your home is valued under $700,000, now may be a prime time to sell. Inventory in this price range is low, while buyer demand remains strong. This tight market could result in quicker sales and potentially higher offers for sellers.

High Demand in the Sub-$700K Market

Calgary's sub-$700K housing market is seeing strong demand due to affordability pressures. With fewer listings available in this range, buyers are facing stiff competition, driving prices up and creating a seller's market. Properties are selling quickly, often with multiple offers, giving sellers a unique advantage.

Before jumping into the market, consider the following:

Current Market Conditions: Prices in this segment are rising, and homes are selling faster. If you’re aiming for a quick and lucrative sale, now might be an opportune moment.
Your Next Move: If you sell, where will you go next? While selling under $700,000 can be profitable, finding your next home might be more challenging due to limited inventory and rising prices in the same price range.
Costs and Timing: If your home needs repairs or upgrades to maximize its value, factor in the time and costs associated with preparing it for sale. With demand high, even minor improvements can significantly boost your selling price.
Demand in the Fall is Generally Lower: Something to consider is that people tend to settle in for the winter with the start of school and poorer weather. This may negate some of the attention your home might otherwise receive if it was listed in the spring.

Selling in a low-inventory, high-demand market offers excellent opportunities, but make sure your next move aligns with your financial and housing goals. Consulting with a real estate professional can help you navigate the market and decide whether right now is the ideal time to put your home on the market.

For more information, consider reading this article on CREB on this topic:
https://www.creb.com/News/CREBNow/2024/October/New_listing_growth_driven_by_higher-priced_homes/

For questions about buying or selling real estate, contact Ed Black today at (403) 830-8510.

Ed Black
REALTOR®