Did you know that the Alberta property market finally experienced an improvement last January?

February 2, 2020

 

According to the monthly report of the Alberta real estate association (AREA), last January 2020 the market for buying and selling properties finally experienced an increase, estimated at five percent.


Although the above-mentioned increase can be classified as modest, it should be understood that after the adjustment of the energy sector the demand levels have been reduced, and by default the inventories of available properties have also been minimized.


The report shows that most regions experienced an improvement in property sales, even raising average transaction prices.


It should be noted that the large markets of "Calgary and Edmonton" were the exception, registering a decrease in reference prices.


In the city of Calgary, although conditions are improving, the housing market continues to favor the buyer.


The conditions of the Calgarian real estate market, follow similar trends to those of last year.


January sales activity improved by almost 12 percent, while new listings fell by almost eight percent.

 

 


In the case of the city of Edmonton, although the market continues to have an excess supply, the average price improved during the previous year, while the reference price decreased.


The improvements in average and medium prices were probably driven by a change in distribution, since in this city there was an increase in the number of higher-priced home sales.


Finally, it can be said that January sales decreased slightly compared to last year's levels.


After the aforementioned, it can be said that the report confirms that we are still in a beneficial market for: “buyers and not for sellers”, so, if you are planning to acquire a home, keep in mind that you are in the presence of the ideal market to be able to accomplish  that project.
 

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