While week over week showings have dwindled these past few weeks, sales remain strong considering the time of year.
The first two weeks of December resulted in the third best start to the month for total transactions over the past decade during the same time period. The active listing inventory levels continue to drop, but remain higher than years prior to 2017. Looking back at the months of inventory over the past ten years in Alberta, the average was 7.6 months of inventory in December. We are currently sitting slightly higher than that which suggests that the market is slowing down.
With less showings occurring, we are seeing a higher percentage of showings result in a transaction which means serious buyers are still looking.
-Steven Phillips, CIR Realty