Chestermere Real Estate Market Update [Q1 2022]
If you're considering buying or selling a home in Chestermere, staying current with the real estate market is the best way toward a successful home purchase or sale. Our Chestermere, Alberta, market update contains the most up-to-date information regarding real estate trends in the area. Read on to discover factors such as the total number of sales, new listings, and more in our Chestermere April 2022 market update report.
What Can Chestermere Buyers & Sellers Expect Going Into May 2022?
Chestermere had 70 sales in April 2022, down 7.9% from April 2021. While this significant decrease may be due to the overall lower inventory in the area, this number is up by 26.6% year-to-date, reflecting a strong interest in Chestermere real estate.
Like in April 2021, the most sold homes in April 2022 were detached homes, followed by row houses. However, in April 2022, there was a significant decrease in semi-detached sales and a considerable increase in apartment sales compared to the previous year. While this data may reflect the lower number of detached homes currently in inventory, overall interest in Chestermere real estate remains high.
According to CREB, the overall residential benchmark price in Chestermere is $624,300. The market is shifting toward more expensive homes year-over-year, as the sales price has increased by 17.9% since April 2021. For example, most homes in Chestermere sold between $700,000 and $999,999 in April 2022 compared to most homes sold this time last year between $500,000 and $599,999.
There were 113 new listings in Chestermere in April 2022, up 24.2% since April 2021 and 33.5% year-to-date. Despite this boost in new listings, the total inventory is still around 112, 2.6% lower than this time last year. However, as the number of new listings is higher than the number of sales, we're seeing the recent inventory decline start to stabilize, which could be good news for buyers in the upcoming months.
What's Next For the Chestermere Real Estate Market?
With an increase in sales and new listings in April 2022, we believe there continues to be strong interest in the Chestermere real estate market, which should continue here and in the surrounding areas. The increase in home prices will benefit sellers, especially those with in-demand properties like detached homes and row houses. However, sellers should keep in mind that inflation and appreciation may influence the best time to sell a home in Chestermere.
For buyers considering purchasing a home in Chestermere, keeping up with market trends and working with a knowledgeable real estate agent will be vital to snagging the right property at the right price. However, Chestermere buyers should prepare for steep competition. The best way to make an offer stand out is by working with an agent to present your strongest offer, backed by pre-approval or an all-cash deal.
If you're ready to buy or sell a home in Chestermere, learn about buyers' and sellers' representation with your local real estate agency. We're here to help you get started with either process, from finding buyers the right neighbourhood to live in to performing a comparable market analysis for sellers.
The Justin Havre real estate team with eXp Realty Will Keep You Up-to-Date on the Chestermere Real Estate Market
Chestermere, Alberta, is a great place to live for many reasons. This small city has a lot to offer its residents, including access to the Rocky Mountains, plenty of green space, and a variety of recreation and entertainment.
It's challenging to keep up with the newest trends in a constantly shifting market. Stay up-to-date with the latest Chestermere real estate information by checking back regularly or contacting the Justin Havre Real Estate Team with eXp Realty. Get in touch with us today to learn more about how we can help you achieve your real estate goals.