Market Feels Cool Breeze

In the last couple of weeks, I've noticed a slight - if ever so slight - cooling in the market.  By that I mean that detached homes and townhomes are still selling for at least list price...but the number of competing offers has decreased.  For example, a single family home in Calgary's NW, Evanston, recently sold for $20,000 over list - but with only 2 offers.  Three months ago there would have been 5 or 7 offers.  What we are still seeing, however, is a SOLID MIGRATION to the Calgary area - with many from outside Calgary (rural Alberta) as well as B.C and Ontario buyers.  And not, not all of them are investors.   But today, for instance, 350 new homes came on the market with only 150 sold listings.  I haven't seen that kind of ratio in over a year.  This shows me a cooling is taking place.  Good news for buyers!