Big shift in the real estate market. That said, it doesn't mean things are in the crapper, just that it's gone from "absolutely nuts" to just "strong".
Back then, single-family homes were selling after an average of 14 days on the market while condominiums were being scooped up on average 12 days. With increasing inventories in both sectors in May this year, the average days on the market have risen dramatically to 25 days for single-family homes and 24 days for condos.
And today, with an 82 per cent increase in the number of homes on the market over last year, potential homebuyers have more selection in the market as listings have soared compared to a year ago.
"With the increase of listings this month, we are seeing a shift in the market giving it more balance," said Ron Stanners, president of the Calgary Real Estate Board. "With this shift, it is more important than ever to price your home competitively, if you want it to sell quickly.
http://www.canada.com/calgaryherald/...873cab&k=90650