Blog by Ken Morris

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MAY MARKET THOUGHTS


 
The usual monthly numbers are out and the pontificating begins... I'm not sure you need to be a stats major to figure this one out.. Sales are down, Listings are up... I even have graphs to prove it!

May Market Thoughts Blog Transcription

Hey There! Rob Reynar here checking in just getting ready to do an evaluation tomorrow. Here's a Market Evaluation getting ready to present that to some folks tomorrow and in it I've got some market stats. I was just going over the latest market stats from the Calgary area. There is total MLS® for May 2010. What really is interesting to me is the shear number of listings on the market. We've got about 13,000 listings, about 2240 sales for the month of May. Sales are down, listings are way up, the average price, yeah I heard in the radio this morning their boasting about average price being up to four thirty-three but the median price is three seventy-five . That's the same as it was in March, so median price is essentially flat line. The average price is up because high end homes are selling right now, that's the same in Cochrane. We have a big supply of homes four to five hundred that aren't selling as quickly as some of the high end houses that's very interesting probably a totally different blog topic. I guess the thought here is when I look at these types of numbers and you see that the shear number of listings is going up and the number of sales is flat lining or dropping a little bit. It's time for sellers to take note, I said this last month it's happening. I'm gonna say it again, sellers take note, if your Realtor® is marketing the house and if it still not selling and you're getting showings, you gotta think about price. I'd love to hear your comments on this, Rob@MorrisReynar.com, R-E-Y-N-A-R, Rob@MorrisReynar.com talk to you soon, Buh Bye!

Transcription of the latest Video Blog from MorrisReynar.com. If for any reason there is a discrepancy between this text and the Video Blog, the Blog is deemed accurate.