Buyers? Sellers? Who will have the leg up in 2024?

Alberta has experienced significant growth in the past few years fueled by high numbers of overall immigration but also due to the fact, that Alberta has a high number of positive interprovincial net migration with all other provinces. This additional growth in population combined with a tight housing supply market has made gains in double digit territory a possibility when looking at year over year pricing. 

Due to the lack of inventory and the building sector not being able to keep up with the high numbers of new residents, this reality was somewhat nerve wracking for many trying to get in. However, this picture will somewhat subside in 2024. Despite the continued demand, it is expected, that demand will slow down and more moderate real estate price gains will become the norm again in Calgary and surrounding areas.

We will most likely see a slightly higher number of listings as well, since some investors may want to realize some of the gains and sell their investments, opening the door for more buyers to get a decent home at a fair price if inventory numbers continue to improve. What does all of this mean for you? Well, lets summarize:

Sellers will continue to be in the driver's seat for 2024 when selling real estate in the Greater Calgary areas including Airdrie, Cochrane, Strathmore, Chestermere, Okotoks, High River and within the City of Calgary of course. BUT, the gains will be lower than in previous years and with more residential properties being bulit, there is light at the end of the tunnel for buyers in our beautiful market place so close to the majestic Rocky Mountains.