We saw a decent amount of activity in the community last month with 5 completed transactions although lower than the few months and also slightly below the same period last year.

Of the 5 sales, 4 were detached single family homes once again spanning a large price range from $535K on the low end to $3.05M on the high end and the remaining sale was a residential semi-detached/duplex home that sold for $351K.  The overall actual Days On Market (DOM) numbers dropped noticeably to 70.6 days from 99 in July, this number has fluctuated a fair bit over the past few months which is prone to happen with smaller sales groups.  The DOM for detached single family homes was 82.3 days while the DOM for the single duplex sale was just 24 days.

The current number of active listings remained identical to last month at 26 and the months of available inventory followed suit nudging up ever so slightly to 4.2 months based on the rolling sales average from the past half year.

Switching to the overall Calgary market we continued to see post-COVID lockdown resiliency with 1,573 total sales down just 7 transactions from August 2019 which is quite positive considering the challenges 2020 has presented.

Looking forward, it will be very interesting to see what the Fall and Winter markets look like after the remainder of the pent up COVID-shutdown demand subsides and the longer-term effects and trends begin to emerge.  Speaking to this, the Financial Post published an article recently regarding mortgage payment deferrals indicating banks believe there is not be a looming ‘Deferral Cliff’, contrary to what other media reports have suggested.

“We’re not looking at seeing a big spike in foreclosures,” Bolger (RBC CFO Ryan Bolger) said at the Barclays conference. “We expect that these mortgages, as they come off the deferral programs, to remain the homes of our clients.”

This echoes sentiments we have had about the deferral period with Canadians’ historically steadfast commitment to hold on to their homes at all costs.  Hopefully, this is the case as a large spike in defaults and foreclosures is never a good thing, for the real estate market, the overall economy or the individual homeowners themselves.

We are always here for all our clients and contacts and are more than happy to answer any real estate questions so please do not hesitate to reach out to us with any questions you may have.

We look forward to hearing from you soon.

www.mylakeview.net

We finally saw the levee break as far as sales activity is concerned with 12 completed transactions in August making it the busiest month to date in 2020 and the highest total since last October’s 18 sales.  It has been a bit of a rough ride this year in Dalhousie with no other month posting double digit sales and year-to-date just 52 total transactions compared to 74 through the first 8 months of 2019.

Of the 12 sales, 8 were detached single family homes ranging from $380K on the low end to $670K on the upper end, 1 was a residential semi-detached/duplex sale at $356K and the remaining 3 were condominium apartments in the Phoenician and Fortress complexes ranging from $148K-$316K.  

The overall actual Days On Market (DOM) numbers dropped slightly from 94.5 days last month to 89.2 this month, the DOM for detached single family homes was 90.9, the lone duplex spent 102 days on the market and the apartment condominium category came in lower at 80.3 days.  The current number of active listings also fell noticeably from 40 to 29 while the months of available inventory also slipped from a rather high 7.5 months to a much more respectable 4.3 months based on the rolling sales average from the past half year.

Switching to the overall Calgary market we continued to see post-COVID lockdown resiliency with 1,573 total sales down just 7 transactions from August 2019 which is quite positive considering the challenges 2020 has presented.

Looking forward, it will be very interesting to see what the Fall and Winter markets look like after the remainder of the pent up COVID-shutdown demand subsides and the longer-term effects and trends begin to emerge.  Speaking to this, the Financial Post published an article recently regarding mortgage payment deferrals indicating banks believe there is not be a looming ‘Deferral Cliff’, contrary to what other media reports have suggested.

“We’re not looking at seeing a big spike in foreclosures,” Bolger (RBC CFO Ryan Bolger) said at the Barclays conference. “We expect that these mortgages, as they come off the deferral programs, to remain the homes of our clients.”

This echoes sentiments we have had about the deferral period with Canadians’ historically steadfast commitment to hold on to their homes at all costs.  Hopefully, this is the case as a large spike in defaults and foreclosures is never a good thing, for the real estate market, the overall economy or the individual homeowners themselves.

We are always here for all our clients and contacts and are more than happy to answer any real estate questions so please do not hesitate to reach out to us with any questions you may have.

We look forward to hearing from you soon.

www.mydalhousie.ca

We had another solid month in July with 8 completed transactions tying the March total for the second busiest calendar month this year as far the number of sales are concerned.  The positive activity in the community followed in the footsteps of the Canada-wide numbers that saw the highest number of monthly sales completed since record keeping first began over 40 years ago!

That is definitely some pent-up demand.

Of the 9 sales, 6 were detached single family homes spanning a huge price range from $515K on the low end to $2.42M on the high end, while the remaining 2 transactions were row house condominiums in the Lakeview Green complexes.  The overall actual Days On Market (DOM) numbers increased noticeably up to 99 days from just over 70 in June, this number was pushed higher by 4 sales that spent well over 100 days on the MLS before selling.  The DOM for detached single family homes was 94.2 days while the DOM for the row house condominium category was much higher 113.5 days.

The current number of active listings remained virtually the same at 26 compared to 24 available properties at the same time last month.  The months of available inventory followed suit and remained exactly the same as June at 4.1 months based on the rolling sales average from the past half year.

Switching to the overall Calgary market we also continued to see improvement as the total number of sales jumped to 1,828 up from 1,747 in June marking the third month of solid gains.

Looking forward, it will be very interesting to see what the post-CERB/mortgage deferral market brings and whether the demand starts to wane or if the stronger numbers continue.  As always, we will continue to monitor the market and keep you updated.

We are always here for you and all our clients and contacts and are more than happy to answer all of your real estate questions and concerns so please do not hesitate to reach out to us with any questions you may have.

We look forward to hearing from you soon.

www.mylakeview.net

We saw the community sales activity take a bit of a step back in July which was divergent from a rather busy overall Calgary market and was in stark contrast to the Canada-wide numbers that saw the highest number of monthly sales completed since record keeping first began over 40 years ago!

There were only 6 completed sales last month, down from 9 in June and has been the case for the majority of the year still well below 2019 levels as we had 11 completed transactions last July.  3 sales were detached single family homes, 1 was a row house condominium in the Dalton Square complex and the final 2 were apartment condominiums in The Fortress.   

The overall actual Days On Market (DOM) numbers increased noticeably up to 94.5 days from just over 33 in June, this number was pushed higher by 2 sales that spent 119 and 230 days respectively on the MLS before selling.  The DOM for detached single family homes was 41, the lone row house condominium sale took 119 days as mentioned and the apartment condominium category was much higher 162.5 days.

The current number of active listings remained virtually the same at 40 compared to 43 available properties at the same time last month while the months of available inventory number actually just inverted, increasing to 7.5 months from 5.7 months based on the rolling sales average from the past half year.

Switching to the overall Calgary market we also continued to see improvement as the total number of sales jumped to 1,828 up from 1,747 in June marking the third month of solid gains.

Looking forward, it will be very interesting to see what the post-CERB/mortgage deferral market brings and whether the demand starts to wane or if the stronger numbers continue.  As always, we will continue to monitor the market and keep you updated.

We are always here for you and all our clients and contacts and are more than happy to answer all of your real estate questions and concerns so please do not hesitate to reach out to us with any questions you may have.

We look forward to hearing from you soon.

www.mydalhousie.ca

We had a solid June as far as the total number of sales are concerned with the month over month activity in Lakeview mimicking the positive results we experienced in the overall Calgary market.

There were 9 completed sales last month, up from just 4 in May and just below the 10 registered in June of 2019, 7 of the transactions were detached single family homes and the other 2 were row house condominiums

The overall Days On Market (DOM) numbers also improved quite dramatically but the monthly average was skewed by one listing that lingered on the MLS for 326 days.  The average actual DOM for the detached single family homes was 66.7 days with the 300+ day listing included and an impressive 23.5 without it.  The average actual DOM for the row house category was 84.5 days with the 2 sales falling on opposite ends of the spectrum taking 11 and 158 days to sell respectively.

The current number of active listings remained almost static at 24 while the months of available inventory dropped with the positive June results to 4.1 months of supply based on the rolling sales average from the past half year.

Looking at the Calgary market as a whole we once again saw some very solid month over month improvement with 1,747 sales in June compared to just 1,080 in May.  This year’s June transaction total was just 1.58% below the total from June of 2019 which is very positive news.

We’ve seen the total number of showings wane slightly as we’ve moved into July which is not out of the ordinary for the summer months, so we will see if the June numbers are an anomaly caused by the pent up demand created as a result of COVID-19 restrictions or if we are in fact seeing some semblance of ‘normality’ returning to the market.

As always, we will continue to monitor the market and the phased re-opening of the Alberta economy and keep you updated going forward.

We are here for you and all our clients and contacts and are more than happy to answer all of your real estate questions and concerns so please do not hesitate to reach out to us with any questions you may have.

We look forward to hearing from you soon.

www.mylakeview.net

We had a solid June as far as the number of sales are concerned with the month over month community activity mimicking the improvement in the overall Calgary market.

There were 9 completed sales last month, up from 7 in May but still well below the 16 registered in June of 2019.  7 of the transactions were detached single family homes, 1 was a row house condominium in the Dalton Square complex with 1 apartment condominium in the Vista View building rounding out the group.

The overall days on market numbers also improved quite dramatically falling to a healthy 33.1 days for the month led by the detached category that saw every completed sale aside from 1 firm up in under 30 days and 3 in less than 14 days.

The current number of active listings also increased to 43 while the months of available inventory dropped with the positive June results to 5.7 months based on the rolling sales average from the past half year.

Looking at the Calgary market as a whole we once again saw some very solid month over month improvement with 1,747 sales in June compared to just 1,080 in May.  This year’s June transaction total is just 1.58% below the total from June of 2019 which is very positive news.

We’ve seen the total number of showings wane slightly as we move into July which is not out of the ordinary for the summer months, so we will see if the June numbers are an anomaly caused by the pent up demand created as a result of COVID-19 restrictions or if we are in fact seeing some semblance of ‘normality’ returning to the market.

As always, we will continue to monitor the market and the phased re-opening of the Alberta economy and keep you updated going forward.

We are here for you and all our clients and contacts and are more than happy to answer all of your real estate questions and concerns so please do not hesitate to reach out to us with any questions you may have.

We look forward to hearing from you soon.

www.mydalhousie.ca

Life is returning to some semblance of normal in our everyday lives and things have also started to return to ‘normal’ in the real estate industry as the May community sales statistics are finally headed in the right direction, albeit very slowly.

We saw 4 completed transactions in Lakeview last month which is up just slightly from 3 in April but still well below the 10 sales registered in May of 2019.  The range of sales was certainly all over the map with 2 sales in the Lakeview Green I complex that were over $100K apart and 2 detached single family home sales, one in the high $400K’s and the other just over $2M.

The days on market numbers increased just slightly to 102.8 days overall but they were again skewed higher by the $2M Lakeview Village sale that not only took almost 300 days to sell this time but has been on and off the market for the past 3 years.

The current level of available inventory inched slightly lower with 23 currently active listings and the months of available inventory nudged just higher increasing from 4.4 in April to 4.6 months in May.

Looking at the market as a whole many buyers have come back to the table after the drastic slowdown triggered by the onset of COVID-19 as the showing activity numbers surpassed the 2019 levels last week for the first time since mid-March…this is most definitely welcome news.

Sales activity is however still well below normal levels and low oil prices and a slow economic recovery are lingering but there is hope that the pent up demand for those buyers and sellers who put the brakes on their plans during the height of the pandemic will continue to re-enter the fray and help bolster the market.

As always, we will continue to monitor the market and the phased re-opening of the Alberta economy and keep you updated going forward.

We are here for you and all our clients and contacts and are more than happy to answer all of your real estate questions and concerns so please do not hesitate to reach out to us with any questions you may have.

We look forward to hearing from you soon.

www.mylakeview.net

Life is returning to some semblance of normal in our everyday lives and things have also started to return to ‘normal’ in the real estate industry as the May community sales statistics are finally headed in the right direction.

We saw 7 completed transactions in Dalhousie last month which is up from just 3 in April but still below the 9 sales registered in May of 2019.  The majority of the sales were detached single family homes accounting for 5 transactions with one row house condominium sale in the Dalton Square complex and one apartment condominium sales in the Vista View building rounding out the group.

The average days on market numbers dropped to a respectable 51.9 days, falling dramatically from 143.7 the previous month, however as you recall the April numbers were skewed higher by a small sample group with one property that languished on the MLS for 300 days.

The current number of active listings saw the biggest jump increasing 42% to 37 properties while the months of available inventory came in at 7.9 based on the rolling sales average from the past half year.

Looking at the market as a whole many buyers have come back to the table after the drastic slowdown triggered by the onset of COVID-19 as the showing activity numbers surpassed the 2019 levels last week for the first time since mid-March…this is most definitely welcome news.

Sales activity is however still well below normal levels and low oil prices and a slow economic recovery are lingering but there is hope that the pent up demand for those buyers and sellers who put the brakes on their plans during the height of the pandemic will continue to re-enter the fray and help bolster the market.

As always, we will continue to monitor the market and the phased re-opening of the Alberta economy and keep you updated going forward.

We are here for you and all our clients and contacts and are more than happy to answer all of your real estate questions and concerns so please do not hesitate to reach out to us with any questions you may have.

We look forward to hearing from you soon.

www.mydalhousie.ca

As you can likely imagine, real estate continued to limp along last month mired in the economic slowdown and slump that is COVID-19. The sales numbers for April are in, which was the first ‘full month’ that physical distancing measures were in place, and across Calgary we saw a 63% drop from the same period last year with only 573 completed transactions.

Looking at Dalhousie specifically sales were down 50% compared to April of last year as there were 3 completed transactions, 2 detached single family homes and 1 apartment condominium in the Phoenician complex.  The actual days on market numbers were once again skewed by the small group and came in at a bloated 143.7 days as the properties spent 15, 116 and 300 days on the market respectively.

Despite all the low sales numbers and gloomy details there is one very important statistic that has shown substantial improvement recently and that is the number of showings being booked by prospective buyers.

Looking at the chart you can see that this weekend marked the first time since the beginning of the pandemic that the showing activity has risen past the benchmark ‘first week of the year’ activity level.  We feel this is a very important achievement that will hopefully mark the beginning of the real estate activity recovery and an upward trend that will continue moving into the phased re-opening of the Alberta economy, of course barring any major setback.

We will continue to monitor the situation as it develops and keep you updated, there are parallels to other slowdowns and recessions in recent history but nothing close to the scale and effect that COVID-19 has had so we are taking things as they come.

We are always here for you and all our clients and contacts as we navigate through this pandemic together, whether it’s real estate related information or otherwise so please do not hesitate to reach out to us with any questions you may have.

Stay healthy, stay informed and stay grounded.

www.mydalhousie.ca

As you can likely imagine, real estate continued to limp along last month mired in the economic slowdown and slump that is COVID-19. The sales numbers for April are in, which was the first ‘full month’ that physical distancing measures were in place, and across Calgary we saw a 63% drop from the same period last year with only 573 completed transactions.

Looking at Lakeview specifically sales took an even steeper hit with an 80% decrease from April of last year as there were just 3 completed transactions; 1 detached single-family home and 2 row house condominiums.  The actual days on market numbers were skewed by the small sample group and came in at a bloated 104 days as the properties spent 14, 60 and 238 days on the market respectively.

Despite all the low sales numbers and gloomy details there is one very important statistic that has shown substantial improvement recently and that is the number of showings being booked by prospective buyers.

Looking at the chart you can see that this weekend marked the first time since the beginning of the pandemic that the showing activity has risen past the benchmark ‘first week of the year’ activity level.  We feel this is a very important achievement that will hopefully mark the beginning of the real estate activity recovery and an upward trend that will continue moving into the phased re-opening of the Alberta economy, of course barring any major setback.

We will continue to monitor the situation as it develops and keep you updated, there are parallels to other slowdowns and recessions in recent history but nothing close to the scale and effect that COVID-19 has had so we are taking things as they come.

We are always here for you and all our clients and contacts as we navigate through this pandemic together, whether it’s real estate related information or otherwise so please do not hesitate to reach out to us with any questions you may have.

Stay healthy, stay informed and stay grounded.

www.mylakeview.net

What a Difference a Month Makes...

It’s hard to believe how much things have changed in just a month but the market and really the entire world has shifted dramatically since our last update with the emergence of the pandemic that is COVID-19.

First and foremost, we hope you are doing well and staying safe and healthy as we go through this extremely challenging time.

Switching over to the numbers from this past month, they are of course very low with just 4 completed sales and taking into account the unprecedented times we’re in, it is a bit like comparing apples to oranges when we look at the numbers from the same time last year, even though there were just 6 sales last March.

Of the transactions completed, 1 was a duplex and 3 were apartment sales with 2 occurring in the Phoenician complex and 1 in the Fortress building.  The days on market numbers were again skewed as 2 of the 4 sales lingered on the market for 154 and 357 days respectively so they drastically inflated the monthly average.

Taking a step back and looking at the market as a whole, March actually started off rather well showing marked gains year over year however as the pandemic rose and social distancing measures took effect, activity dropped sharply across the board.  Sales fell by 11 percent compared to last year, which was also 37 per cent lower than long-term averages and pushed the totals for the month to the lowest recorded level since 1995.

The inventory level is also much lower across the City as many sellers have decided to terminate or temporarily withdraw their listings until things improve and we likely won’t see levels recover until things improve and social distancing measures are scaled back.

Given the progression of COVID-19 we expect the April numbers and activity to potentially be even slower as the March totals were buoyed by the first 2 positive weeks of the month.

We will continue to monitor the situation as it develops and keep you updated, there are parallels to other slowdowns and recessions in recent history but nothing close to the scale and effect that COVID-19 has had so we are taking things day-by-day.

We are always here for you and all our clients and contacts as we navigate through this pandemic together, whether it’s real estate related information or otherwise so please do not hesitate to reach out to us with any questions you may have.

Stay healthy, stay informed and stay grounded.

www.mydalhousie.ca

The final numbers are in for the month of February and they are eerily similar to what we saw last year over the same time period.

There were just 3 sales this past month and all 3 were detached singe family homes that were in largely original condition.  There are currently just 25 active listings across all property types in Dalhousie which is 13% lower than the 31 listings available last year, so overall it was a positive month despite the low number of completed transactions.

The overall Days On Market (DOM) number was lower than January coming in at 55.3 days but with such a small sample group it is not necessarily indicative of the current market conditions.

The most interesting factor still lies with the decreased number of listings as we have just 2.7 months of active inventory based on the 12-month rolling average in Dalhousie.  We do expect to see more properties hit the MLS as we get closer to the arrival of ‘real’ Spring but if lower inventory levels persist,  we could start to see a shift away from a buyer’s market.

The activity across the city has continued to build on the strong start to the year with a 23% increase in sales over last February, however to put the increase into perspective, last February marked one of the slowest sales activity months since the early 90’s so it would have been hard not to improve upon.

Looking further into 2020 it is difficult to tell how things will play out with positive factors like a drastic cut to interest rates and loosening of mortgage stress test rules battling against the negativity with the Coronavirus COVID-19 outbreak and the tanking of world oil prices as a result of the escalating price war between Russia and Saudi Arabia.

If you are thinking of making a move or if you would simply like a complimentary professional comparative market evaluation on your current property, please let us know.

For a closer look at all of the active listings in Dalhousie please click on the link below.

www.mydalhousie.ca