What we have seen so far this year

The real estate market in Vulcan and area has seen weak market so far this year. The number of sales has decrease, along with the number of properties on the market. The story is similar in much of southern Alberta. According to the Calgary Real Estate Board, the Vulcan region has seen a decrease of 53% in the number of sales, as well as in the number of listings so far in 2016. The average days on market for a property is 147. Currently, we have three houses for sale under the $100,000 mark. In the earlier part of the year, there were a few new build house sales, which we have not seen for quite a while. Lately, though, there has not been anything happening with that part of the market either. Buyers are being selective, because they can in this market, and they most are willing to wait until the right property comes along, or at least they find the right price. Several sellers have had to reduce their list price in order to get some action on their properties.