Updated Calgary bungalow cuts asking price twice before sale

A recently renovated Calgary bungalow has drawn attention after undergoing two significant price reductions before it was sold. Originally listed at $869,900 in July 2024, the home experienced two successive cuts, dropping to $899,900 and later to $885,000. It ultimately sold in August for $845,000. This sale highlighted the challenges and strategies within Calgary's current real estate market.  

Located near Shaganappi Point Golf Course, the property featured extensive renovations, adding to its appeal. However, competitive market conditions made it necessary for the sellers to adjust their expectations. The successful offer not only included a $24,900 reduction but also required the buyers to first sell their own home, a common stipulation in today’s market.  

Calgary’s real estate market has recently seen fluctuating trends. While overall prices remain high, there has been an increase in listings requiring price adjustments to secure sales. The adjustments for this bungalow underscore the importance of strategic pricing in navigating a buyer-sensitive market.  

The home’s desirable location likely played a significant role in attracting buyers despite the challenges. Its proximity to a golf course and urban amenities offered a balance of convenience and leisure, which complemented its modernized interiors. This mix of features, coupled with competitive pricing, ultimately sealed the deal.  

Real estate agents have emphasized the need for sellers to remain adaptable in pricing, particularly as market dynamics shift. This is evident from the bungalow’s sale, where consistent price reductions and appealing property features aligned to meet buyer expectations.  

For Calgary homeowners looking to sell, this transaction serves as a reminder of the importance of patience and market awareness. Strategic pricing, understanding buyer behavior, and leveraging a property’s unique selling points are essential to navigating today’s real estate landscape.