Mid-Month Market Update November 15, 2020

There are two very important things to note when it comes to the current state of the real estate market in central Alberta.  First, the number of active listings continues to shrink, down almost 25% compared to Nov. 15, 2019.  Second, month to date sales this November are up 56% compared to the same time last year.

So what does that all mean to the average homeowner?  The relationship between supply and demand determines price.  While CMHC predicted that prices in Alberta could come down as much as 18%, the reality is that prices could be poised for an increase if the current trend continues.  The current numbers don’t put our market in balance yet, but we are much closer than we were a year ago and a balanced market creates price stability, if not increases.

While the media is focused on the negative – Covid, job losses, etc., we believe Albertans are more than ever focused on the positives – Alberta’s population increased by 60,182 between July 2019 and July 2020, $2.3 billion natural gas pipeline expansion announced in October, no matter the result of the US election, Alberta is likely to benefit by increased energy exports, and ATB Economics is predicting Alberta’s economy will grow by 3.3% in 2021.

Mid-Month Market Update November 15, 2020

There are two very important things to note when it comes to the current state of the real estate market in central Alberta.  First, the number of active listings continues to shrink, down almost 25% compared to Nov. 15, 2019.  Second, month to date sales this November are up 56% compared to the same time last year.

So what does that all mean to the average homeowner?  The relationship between supply and demand determines price.  While CMHC predicted that prices in Alberta could come down as much as 18%, the reality is that prices could be poised for an increase if the current trend continues.  The current numbers don’t put our market in balance yet, but we are much closer than we were a year ago and a balanced market creates price stability, if not increases.

While the media is focused on the negative – Covid, job losses, etc., we believe Albertans are more than ever focused on the positives – Alberta’s population increased by 60,182 between July 2019 and July 2020, $2.3 billion natural gas pipeline expansion announced in October, no matter the result of the US election, Alberta is likely to benefit by increased energy exports, and ATB Economics is predicting Alberta’s economy will grow by 3.3% in 2021.

Mid-Month Market Update November 15, 2020

There are two very important things to note when it comes to the current state of the real estate market in central Alberta.  First, the number of active listings continues to shrink, down almost 25% compared to Nov. 15, 2019.  Second, month to date sales this November are up 56% compared to the same time last year.

So what does that all mean to the average homeowner?  The relationship between supply and demand determines price.  While CMHC predicted that prices in Alberta could come down as much as 18%, the reality is that prices could be poised for an increase if the current trend continues.  The current numbers don’t put our market in balance yet, but we are much closer than we were a year ago and a balanced market creates price stability, if not increases.

While the media is focused on the negative – Covid, job losses, etc., we believe Albertans are more than ever focused on the positives – Alberta’s population increased by 60,182 between July 2019 and July 2020, $2.3 billion natural gas pipeline expansion announced in October, no matter the result of the US election, Alberta is likely to benefit by increased energy exports, and ATB Economics is predicting Alberta’s economy will grow by 3.3% in 2021.

Mid-Month Market Update November 15, 2020

There are two very important things to note when it comes to the current state of the real estate market in central Alberta.  First, the number of active listings continues to shrink, down almost 25% compared to Nov. 15, 2019.  Second, month to date sales this November are up 56% compared to the same time last year.

So what does that all mean to the average homeowner?  The relationship between supply and demand determines price.  While CMHC predicted that prices in Alberta could come down as much as 18%, the reality is that prices could be poised for an increase if the current trend continues.  The current numbers don’t put our market in balance yet, but we are much closer than we were a year ago and a balanced market creates price stability, if not increases.

While the media is focused on the negative – Covid, job losses, etc., we believe Albertans are more than ever focused on the positives – Alberta’s population increased by 60,182 between July 2019 and July 2020, $2.3 billion natural gas pipeline expansion announced in October, no matter the result of the US election, Alberta is likely to benefit by increased energy exports, and ATB Economics is predicting Alberta’s economy will grow by 3.3% in 2021.

Mid-Month Market Update November 15, 2020

There are two very important things to note when it comes to the current state of the real estate market in central Alberta.  First, the number of active listings continues to shrink, down almost 25% compared to Nov. 15, 2019.  Second, month to date sales this November are up 56% compared to the same time last year.

So what does that all mean to the average homeowner?  The relationship between supply and demand determines price.  While CMHC predicted that prices in Alberta could come down as much as 18%, the reality is that prices could be poised for an increase if the current trend continues.  The current numbers don’t put our market in balance yet, but we are much closer than we were a year ago and a balanced market creates price stability, if not increases. While the media is focused on the negative – Covid, job losses, etc., we believe Albertans are more than ever focused on the positives – Alberta’s population increased by 60,182 between July 2019 and July 2020, $2.3 billion natural gas pipeline expansion announced in October, no matter the result of the US election, Alberta is likely to benefit by increased energy exports, and ATB Economics is predicting Alberta’s economy will grow by 3.3% in 2021.