Interest Rate Hike & Calgary Market

Despite recent posts by the Calgary Real Estate Board stating that the market is "hot", those of us in the trenches are seeing a slight shift in the Calgary & Area real estate market.  Generally, we can say this:  The Bank of Canada interest rate hikes have affected the market in that the amount of buyers looking for homes has decreased slightly.  What does this mean overall?  It means that when we saw multiple offers on houses in February, we would have 4 - 8 offers per multiple offer situation.  That number has decreased to 2 - 5.  This is on houses in the price range of $300,000 to $500,000 and in higher demand areas.    The market is changing week by week and a good agent will know what's going on so you can carefully strategize the sale of your home.  Contact me at to be sure to get the most current market conditions and the most effective way to get top dollar.