Originally Posted by
Manhattan
Crazy market for entry level homes blah blah blah. I'm more interested in what's driving the demand AND supply. Who are the people throwing caution to the wind and getting into bidding wars over outdated cooking cutter entry level homes? Is it purely interest rates driving their buying decisions? With the increase sales activity where are the sellers going? Are they downsizing/upgrading, selling income properties, moving out of town, or just trying to time a hot market? More questions than answers.
We are/were looking for a new property to build on when we return to YYC after almost 5 years abroad. Almost all the properties we were given a heads up on, 95% were off market, and rentals. Seemed like sellers are just hopping on the bandwagon to try to 'cash in'. 1 place was listed at $800K, while we were reviewing the details and what kind of new build we'd put on it, they raised the price to $840K within a week. Not sure if it sold, it was never listed, the owners were just going out to builders.
Hanging out in H-Town.
Miss the Autobahn