I don’t think it comes as a surprise to anyone that the showing activity continues to climb week over week as the markets continue to heat up.
The showings across Alberta are actually slower than we experienced in 2020, but they are catching up rapidly! What certainly is not down year over year is the number of transactions, which, as of the 24th of February were up 73% for the month across the Province compared to the same time period last year.
For CIR Realty’s listings, we saw an increase of 7% week over week for showings which is 33% higher than the same week in 2020.
It is very important to understand that even with the increased activity, and the busier markets, pricing is still critical as the average list to sales price ratio through February is at 97.5%! Yes, there are multiple offers causing over list prices sales, but the majority are still seeing price negotiations. Pricing a home properly will have an impact on the time that it takes to sell, even in these busy markets.
This will begin to adjust if we continue to move into sellers markets, so each sector, and each area is critical to examine what is happening in that market, and how to properly price it for the activity occurring.
-Steve Phillips, CIR Realty