I would look at pace and supply together, because the best opportunity depends on the kind of home you want.
If you are about to start touring and you want to know where you may have more room to negotiate, look at supply by property type first. In Seton, AB last month, detached homes carried 2.33 months of supply, semi-detached homes sat at 1.80, row homes were at 2.67, and apartments were at 6.13, so the leverage was not the same across the board.
That difference matters immediately once you step into showings. Detached homes posted 6 sales from 7 new listings and had 14 available homes, while apartments posted 8 sales from 24 new listings and had 49 available homes. The touring strategy should change with the category, because the balance between choice and competition is clearly different in Seton, AB. I would be more decisive in the tighter segments and more selective where supply is deeper. Semi-detached homes had 5 sales, 6 new listings, and 9 available homes over the previous 30 days, which is a much different setup than the apartment segment. This is where buyers get into trouble when they use one blanket offer strategy for every showing. Sort your tour list by property type before you set your weekend schedule. Use days on market to separate fresh listings from homes that have been sitting longer. Decide your walk-away price before each showing, so the decision is based on value and not on momentum.
About Eric Dennis
Eric Dennis is a licensed Real Estate Professional affiliated with CIR REALTY, specializing in the Seton market. With a focus on strategic marketing and deep local knowledge, Eric Dennis provides clients with expert guidance in navigating complex real estate transactions. View full profile →
