high-end calgary real estate market

The High-End Buyer’s Market In Calgary

The best time to enter the market for a new home is during a buyer’s market. Those lovely times when prices start to fall and the buy get’s more wiggle room throughout the housing market. These lucky buyers are given more opportunity in both choice and price by simply choosing to enter the market at a certain time.

For buyer’s, it’s important to have the cards in your hand when you enter the market. If you walk in unprepared or jump at the wrong time, you could risk the market taking advantage of you, even if the market is supposed to favor you. So, when do you jump?

Well, if you are looking to move into the Calgary area, the upcoming months might be the right time for you to buy, especially if you are looking at the high-end market of $1 Million or above on the Calgary MLS.

high-end calgary real estate market

The High-End Market Tells A Lot

The high-end market generally includes those homes around $1 Million price range and above. Now, for many, this is totally out of the question, but for some, you should really look into what you can get for your money in the area. The number of sales for the high-end homes has been on the decline, and many are looking at the falling prices of the high-end housing market from a gloomy perspective. I look at it from the buyer’s perspective, especially those who can afford these high-end homes.

The real take away should be the amount of choice that buyers have on these high-end properties. The amount of choice on these homes tends to also show up as you move down the price range of the homes too. When this large abundance of selection starts to open up, the market tends to be more lenient, and pricing starts to wiggle more and more. That’s good for a buyer because they can put realistic bids on houses that wouldn’t be available to them in a seller’s market, and even get steals if they are patient enough.

Budgeting In a Buyer’s Market

Having a set budget in mind is key, and in a buyer’s market, it becomes even more important. This number might be $100k, $250k, or even over a million, but no matter what, your money is worth more in a buyer’s market.

When the prices start to fall on properties in the area, you can swoop them up before the next economic swing back in favor of the seller. So, if you are patient with your market movements, you can wait for that $250k house to fall closer to $225k before you place your budgeted bid of $200k. By being patient in the markets, you can really negotiate better deals for yourself.

Having the right realtor by your side makes it even easier. They know when the market is really starting to pinch, and have access to in-depth information for stack your cards for negotiations. It might sound crazy to get a $250k house for $200k, but you would be amazed what a bit of planning for the market can do. That wiggle room can expand even further as the asking price goes up.

high-end calgary real estate market

What The Calgary Real Estate Market Is Telling You

If you are looking for a time to hop into the Calgary real estate market, it’s about time to start looking around for your new home. We are leaning towards a major buyer’s market, and things are only really looking to favor your offers. It’s that time to take advantage of a buyer’s market.

If you are looking for an agent who is a firm negotiator on your behalf, look no further than the amazing staff at Hama Cazac Real Estate. With full access to the Calgary MLS, we’re your Calgary Realtors.