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When spring arrives in Alberta, so too do the for-sale signs on front lawns. That’s the Alberta real estate market for you. Despite the fact that as Canadians we should feel comfortable doing just about anything in the dead of winter, there’s something about home sales in the snow that seem to turn off buyers and sellers. However, you’re actually being a little short-sighted if you believe this.
Spring is great if you want to fight with more competition, but if you want to be a little more seller savvy, the winter is the time to hit those buyers when inventories are low. As a buyer, you’ll also face less competition and avoid those nasty, tiresome bidding wars that can interfere with getting your dream home.
Seller: We’re leading with this because the winter months will definitely see a reduction in the number of homes available for sale in Alberta. As a seller, this is awesome news because for the buyers out there suddenly even a ho-hum home starts to look pretty good. You’ll be less worried about presenting your home to keep up with the Jones down the street and reap the benefits of having the best house in the area. This could get you a better price thanks to the laws of supply and demand, but really only if you’re in a highly desirable area. Otherwise, you might get some lowball offers since there will be fewer buyers and those putting in an offer know it.
Buyer: Homebuyers will be faced with the very challenge we mention above. You will have fewer homes to choose from which means you might not find exactly what you want. However, it’s never a good time to ensure you will find the exact house you want. This tends to be a pretty tall order. As well, you might find some sellers are looking for more money if they’re not desperate to sell but instead are taking advantage of the inventory angle. Of course, you can also be in the driver’s seat if they aren’t getting as many offers as they hoped.
December Sales Statistics
Single Family Home Sales:
Average List Price: $304,900
Average Sale Price: $279,950
Days on Market: 129
Average List Price: $ 205,000
Average Sale Price: $ 181,250
Average Days on Market: 124