As a Real Estate Advisor with Engel & Völkers, we specialize in Chestermere.  We study the supply and the demand to determine which price ranges are oversupplied, and which price ranges will sell more quickly.   Here is what has been happening in the Chestermere Market from September 1 to November 30, 2019.

Since March we have seen an improvement in the price range $550,000 to $600,000 .  In the 90 days ending March 2019 there were 30 unsold listings and only 2 sales.   In the same time period ending November 30, 2019, there were 26 unsold listings and 7 sales.  Bringing the months to absorb the unsold listings down to 11 months from 45.

Townhouses in the $300-$350k range are still oversupplied with 12 on the market and only 1 sold in the past 90 days.  This would leave us with 36 months supply.  In the same period ending March 2019 we only had an 8 month supply.  Prices may soften by about .50% per month. 

The good news is that the $350-$399 price range had 4 unsold listings, and 5 sales leaving us with 2 months supply.  These homes are typically semi-attached homes. 

Homes in the $400,000 to $999,999 are in the 6 to 9 month range, so prices should be stable in these price ranges. 

Homes over $1,000,000 are facing a challenge as the $1,000,000 – $1,199,999 have an 18 month supply with 6 unsold listings and 1 sale. 

Homes over $1,200,000 have a 45 months absorption rate.  There are currently 15 unsold listings and 1 sale in the past 90 days.