A quick request to start this weeks showing report. I’d like to start including an entertaining story from the interesting things that we see while showing properties. This will be anonymous, so if you have a funny showing story you would like to share with me, please send it over and I will try and include it in future emails.
This week’s showing report is showing a decent drop off in activity across Alberta which is fascinating as we had another uptick on showings for CIR Realty’s showings. For CIR’s showing activity we saw a big jump in the $300,000 – $500,000 price ranges. In fact, we had over 1,000 showings in that price range in a single week!!
We have also been tracking the weekly sales activity to correlate it to the number of showings, and while it is early in the process to tell, it appears that there is a two week lag from heightened showings to the sales increasing. Based on that, we should see an increase in sales volume over the next couple of weeks as we have had increases in showings for two straight weeks so we will keep a close eye on that.
If these correlations are correct, then I am anticipating based on the showing activity in April, that there is an excess of buyers in the $500,000 – $600,000 and $700,000 – $800,000 range that are looking but have not bought yet. And based on this weeks and last activity we may see a jump in sales in the $400,000 – $500,000 range.
We will keep a close watch to see if these trends develop further.
-Steve Phillips, CIR Realty