The Gist:

  • Sales

    • In previous years, there were about 60 sales per day in May. In 2020, demand for housing was cut by about 50% due to emergency shutdown.

    • June in the past years has brought between 60-80 sales per day.

    • Sales have had a steady heartbeat over the course of May 2020, sweeping past the average line a few times but staying under it more often. This is going to result in a lower daily average rate of sales being lower than in previous years. 

  • New Listings

    • In previous years, we’ve seen between 110-130 new listings every day in May. In 2020, we’ve seen the supply cut by about 30%. 

    • In the past 5 years, there have been between 100-126 new listings per day. 

    • Over the course of May 2020, we’ve seen the supply of new listings hit the average line but not sweep past it, which resulted in a lower average daily rate of listings. 

  • Showings

    • In previous years the amount of daily showings in Alberta has gradually climbed throughout the spring market. 

    • In 2020, we have seen a massive drop-off during our emergency shutdown, but we’re now coming close to meeting the same amount of showings per day as this time last year. 

  • Our Suggestions

    • Buyers

      • Price check everything! A lot of properties that were listed pre-shutdown have not had price changes since. 

    • Sellers

      • Get to the market ASAP! The market may have moved down as unemployment rises but our ability to measure it will take a few weeks so it could be that you have a better opportunity during uncertainty than you will once we know how prices have changed post-COVID-19 60 days from now.



Something to Keep in Mind: the data we receive is a reflection of what happened about 2 weeks in the past, meaning that people are putting offers on houses about 10-14 days before the MLS registers the property as sold, and new listings are initiated a week (or more) before they are actually listed on the MLS to have time for photos, videos, measurements, etc.


Want to Know What’s Happening in Your Neighbourhood? 🏘🏡


 
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⬇️ Daily Market Indicators ⬇️

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🎧 HACK&Co Playlist: Price Reduction Remix 🏷

Take a peek at properties that have lowered their prices since Emergency Shutdown 📉