The Gist:

• Sales

  • May 2020 brought only 50% of the demand of previous years.

  • In the past 5 years we’ve seen between 60-80 sales per day in June. 

  • We’re starting to spike over the averages of previous years throughout May and June, showing some promise for the suppressed market to come roaring back. 

  • We’re expecting to see some pretty big spikes in sales over the next couple weeks. 

• New Listings

  • May 2020 had about 70-80% of the supply of previous years coming to the market. We got a big bump in new listings at the end of the month. 

  • In the past 5 years we’ve seen 102-126 new listings per day come to the market. 

  • Throughout May we’ve seen big spikes and dips in new listings daily, but we haven’t been able to stay above the average daily rate of previous years throughout May.

  • Now that it’s June and we’re slowly returning back to normal activity after emergency shutdown,  we’re starting to see the amount new listings brought to the market daily stay above the averages of past years.

• ShowingTime

  • In 2019, the amount of showing requests gradually climbed throughout the Spring Market season.

  • In 2020, we saw a ginormous dip in showing requests during emergency shutdown, bottoming out at 65.4% LESS showings per day than there were right at the beginning of the year when everyone is still in holiday mode. 

  • Since Alberta has started with their reopening plan, we’ve seen requests climb back up to almost regular levels for this time of the year. 

• Our Suggestions:

  • Buyers

    • Price check everything! There are lots of properties that are currently overlisted because they haven’t lowered their prices during emergency shutdown. Apartment style condos, duplexes, and townhouses are ones to look out for. 

  • Sellers

    • Get to the market soon! Now is the time to go, so make sure your listing agent keeps you up to date with what’s going on in your area and advises you when it’s time to make a move. 

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.

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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 📉

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