The myth that Calgary real estate slows down during the Stampede was busted this past summer. When it comes to the winter holidays, however, there is definitely a marked drop off in activity.
Not only is December historically the slowest month of the year, but the majority of sales occur in the first two weeks of the month.
In the past decade, overall home sales between December 1-14 have been 16% higher than sales made from December 15-31 despite three fewer days in comparison.
Some sellers withdraw their home from the market around the holidays so as not to be disturbed. Home shopping takes a back seat for many buyers. The kids are on winter break. Many real estate, lawyer and mortgage offices are closed for a couple days at least.
That’s the great thing about seasonality – it’s for the most part, predictable. For example, there were 646 sales in the first two weeks of this month. Seasonality dictates that at the end of the month, sales will likely be under 1200 – and that’s not accounting for outside forces such as the negativity around oil prices.
I’ll check back and update this post on January 1st 🙂