The Real Estate Market has continued to show signs of strength coming out of February and into Spring.  With sales across the Province increasing by over 11% compared to last February, that brings the year to date sales slightly above the past five years average activity. This still remains below the longer ten year averages but continues to show signs of stability in most of the markets. While the inventory levels climb coming into the busier Spring markets, the sales have been strong enough to offset it in most markets, allowing the months of inventory to drop which is ideal for price stability.

The hot spots in the Province were in the Lethbridge, Grand Prairie, and Calgary regions.  According to the Alberta Real Estate Association, the surge in sales year to date of over 21.6% year over year in Lethbridge has surpassed numbers as far back as 2008! The listing inventory has continued to climb in as well, but it has not kept up the pace to sales, so the months of inventory has been dropping. This is a great sign for the area as we have been concerned about the rising inventory levels in the Lethbridge region, but buyer confidence seems to be strong in the area. The Grand Prairie markets appear to have picked up steam due to the recent downward pressure in prices, whether that area has hit bottom remains to be seen as inventory levels remain quite high. And finally, Calgary where the sales have continued to outpace the new inventory coming onto the market which has led to the largest drop in months of inventory across the Province.

The challenged markets through the first couple of months are the Central Alberta and Medicine Hat areas.  The Red Deer area continues to be challenged with a rising unemployment levels. The Medicine Hat markets appear to be more of an over supply issue where the inventory is outpacing the sales activity. 

As for CIR, we are seeing the showing activity for CIR's listings significantly increased in February over January jumping to over 6,200 showings. The high sales activity that we saw in the $300,000 - $400,000 range in February correlates with the above average showings in that range in January. We anticipate the same to happen in the move up markets in the coming months as a result of the higher than average number of showings in that range.

February 2020 Listing Summary

As a company, we have also experienced a significant uptick in sales. While Alberta had an increase of 11% in sales in February, CIR Realty had an uptick of 39% in February. We have been very happy to see that trend continue with an increase of 40% in the first week of March compared to last years numbers. While the numbers in 2019 were less than ideal, the numbers in February and March are the third best in the past decade.

There is a large degree of uncertainty in the world today which could end up slowing things down, but if these trends continue we anticipate a very busy Spring market. The necessity to understand the markets with in the markets continues to be so important in today's Real Estate Markets. The "new norm" for markets requires an understanding of how to position a home into the marketplace based on the activity occurring in order to get it sold. Having a strategy, pricing the home properly with a compelling price, and keeping the home in ideal condition for the pricing strategy are all key components to a sale in todays markets.

Happy selling and keep up the great work Team Blue!

~ Steve Phillips

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CIR REALTY in SUNDRE is supper excited to congatulate DEBRA KING for acheiving TOP PRODUCER status in the CIR REALTY Northwest office for the year of 2019! DEBRA finished #4 for the year and #16 out of the entire company!

Congratulations Debra on a very successful year in REAL ESTATE!

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That's a wrap on 2019 and after an interesting year full of ups and downs, we went out with some great momentum. 

The sales in December were up across the Province by 7.56% compared to December 2018 which capped off the year with a -0.23% drop in sales for the year in Alberta.  The listing inventory also dropped across the Province by -4.30% which helped bring the inventory levels into balanced market territory of 4.08 months.  

Like much of 2019, we ended the year with the Good, the Bad and the Ugly.  The good news is that the markets in and around the Calgary Real Estate Board, the Edmonton board, and South Central Alberta all had an uptick in sales for the year. The Calgary Region saw an uptick of 1.97% year over year in sales, Edmonton had +0.21% and South Central enjoyed an uptick of 12.32% in sales. Each of these markets also saw a decrease in listings which continue to help balance those markets. Another shining point is that the Province has had an increased net migration through 2019 as Alberta has regained its appeal for Canadians to move here from other Provinces.

The bad, isn't actually bad...yet. While sales kept pace in Lethbridge and Medicine Hat Regions, their listing inventory continued to climb. If sales do not experience a fast uptick in 2020, these markets could have corrections in the near future. Keeping an eye on inventory levels, and pricing homes with an appealing price for buyers will be an important aspect over the next couple of months. In other not so bad news, we saw a significant drop in the showing activity for the month of December but still managed to have 3,299 showings requested through the Showing Time system. This drop in listing activity is very normal through the month of December and we expect the showing activity to pick up quickly in January.

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The REALTORS at CIR Realty in SUNDRE, and their families, wuld like to wish all their past, present and FUTURE REAL ESTATE clients a very MERRY CHRISTMAS!!!Cool

And...if we can help you in the New Year with ANY of your REAL ESTATE needs, The REALTORS at CIR REALTY in SUNDRE would be more than happy to be of assistance!

HAPPY NEW YEAR from all of us here at CIR REALTY! 

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While the showing activity has continued to decrease through November and December, approximately 50% of the showings continue to occur in the $300,000 - $500,000 price range.  In November we had over 4,800 showings which helps explain the uptick of 8.5% in sales that we experienced in the first week of December. Most interestingly is that the $700,000 + markets have had the least amount of fluctuations in showings, and actually saw a modest increase of showings the week of Dec 2 - 9 over the week prior.

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Well... December is on us again and visions of sugar plums are creeping in to my subconcious. The REAL ESTATE market in SUNDRE is a wee bit quiet. Christmas can do that! CIR REALTY in SUNDRE is having an open house from 3-? today(November 29). Stop in and have a glass of Christmas cheer with our REALTORS!
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It's been a while since our last post and much has happened. Debra King and Dan Webster were both top producers for CIR REALTY in September and working hard to get there in October as well!! Things have tapered off in the SUNDRE REAL ESTATE world but now that the election's over we're anticipating a renewal in REAL ESTATE interest in the SUNDRE and MOUNTAIN VIEW COUNTY markets. If we can be of assistance to you in your search for a new HOME or ACREAGE or if we can help you market your current property, give one of the REAL ESTATE AGENTS at CIR REALTY in SUNDRE a holler and we'll get 'er done for you!

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Congratulations Bev McCarthy for acheiving TOP PRODUCER status at the NW office for CIR REALTY!!

CIR REALTY is a large brokerage so this was no small faet. Way to go BEV!!

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