Ponoka Market Update August 1, 2019

July was a good month for most central Alberta real estate markets with more sales activity and fewer active listings, bringing some markets closer to balance, defined as the place where neither buyer or seller have the advantage.  While year to date sales in every market we serve are down compared to last year, we did do some catching up in July which is normally a slower month due to summer holidays.

We aren’t sure what drove that more positive market last month, but there area a couple of possibilities.  First, interest rates have come down and the federal government lowered the qualifying rate for the mortgage stress test.  Lower interest rates always stimulate sales and a lower qualifying rate allows more buyers to enter the market.

Second, sellers are starting to adjust to the lower price environment.  It’s been almost 5 years since prices started to trend down and there is no sign they will be going up soon.  It appears that sellers are finally accepting the new reality and pricing their properties accordingly.  Lower prices also stimulate sales and allow more buyers access to the market.

Lacombe Market Update August 1, 2019

July was a good month for most central Alberta real estate markets with more sales activity and fewer active listings, bringing some markets closer to balance, defined as the place where neither buyer or seller have the advantage.  While year to date sales in every market we serve are down compared to last year, we did do some catching up in July which is normally a slower month due to summer holidays.

We aren’t sure what drove that more positive market last month, but there area a couple of possibilities.  First, interest rates have come down and the federal government lowered the qualifying rate for the mortgage stress test.  Lower interest rates always stimulate sales and a lower qualifying rate allows more buyers to enter the market.

Second, sellers are starting to adjust to the lower price environment.  It’s been almost 5 years since prices started to trend down and there is no sign they will be going up soon.  It appears that sellers are finally accepting the new reality and pricing their properties accordingly.  Lower prices also stimulate sales and allow more buyers access to the market.

Blackfalds Market Update August 1, 2019

July was a good month for most central Alberta real estate markets with more sales activity and fewer active listings, bringing some markets closer to balance, defined as the place where neither buyer or seller have the advantage.  While year to date sales in every market we serve are down compared to last year, we did do some catching up in July which is normally a slower month due to summer holidays.

We aren’t sure what drove that more positive market last month, but there area a couple of possibilities.  First, interest rates have come down and the federal government lowered the qualifying rate for the mortgage stress test.  Lower interest rates always stimulate sales and a lower qualifying rate allows more buyers to enter the market.

Second, sellers are starting to adjust to the lower price environment.  It’s been almost 5 years since prices started to trend down and there is no sign they will be going up soon.  It appears that sellers are finally accepting the new reality and pricing their properties accordingly.  Lower prices also stimulate sales and allow more buyers access to the market.