Weekly Market Minute

Tuesday, February 1, 2022

This week I had a few buyers tell me they felt the number of listings that have come on the market lately seems to have increased.

Do you feel the same way?

Or is that your reticular activator kicking in now that you are checking out my blog each week? 😊

Either way, you are right, the number of listings has seen a bit of a jump lately. But what hasn't increased is how long they are staying on the market.

Market Breakdown

This past week, compared to last week, we saw the following:

  • Sales increase 13%

  • New listings increase 16%

  • Active listings increase 0.42%

  • Median price declined by 0.74% to $470,000

  • The average price declined by 1.46% to $514,306

  • Average days on market decreased 4.9% to 39 days.

If we were to break down the above stats you will notice right off the bat, an increase of 16% of new listings, which is what you might be seeing in the market. However, this increase in new listings is completely negated by the number of sales, which are up 13% as well.

Further proof of this would be the number of active listings practically staying consistent with only a slight bump up of 0.42%.

More and more sellers are reacting to the calls of a shortage of listings and are making efforts now to sell their homes so that when the spring market comes, they can take advantage of the higher inventory to make a better selection of what they can buy next.

You have to remember, even though you sell your home now, the possession of that sale can take 30-90 days to occur after the sale. If you sell in the spring, you might be shopping for your next home in the summer, which is another seasonal time when inventory shrinks as people are enjoying the weather and traveling (hopefully).

Hope this breakdown helped you understand the market a bit better. Thanks for taking the time. If you'd like to chat about selling your home, send me an email at aly@calgaryareahomes.ca, give me a call at (403) 354-5664, or follow and send me a DM on Instagram @alyjanmohamed.

Take care, stay safe and I hope we can connect.


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