CONTACT
RSS

Royal Oak Real Estate Update - NOVEMBER 2020


November was another solid sales month in the community with 11 completed transactions which is just below the average monthly total over the past 6 months.  The biggest part of the story continues to be the level of inventory that keeps slipping and is currently sitting at 23 active listings across all categories and has pushed the community further into seller’s market territory with just under 1.8 months of available inventory.


A portion of this reduction is seasonal as traditionally many sellers take their properties off the market over the holidays and then re-list in January, however this year we have a higher number of withdrawals and terminations as well a number of potential sellers who have chosen not to enter the market at all given the pandemic and the current restrictions in place.  This has created some very tight conditions and represents a full 180-degree turnaround from what the market was doing during the first wave of COVID this past spring.


Looking a bit closer at the activity, the overall Days On Market (DOM) numbers took a drastic upswing from 35.2 days to 94.7 days largely due to the fact that we saw 2 long lingering listings that took 327 and 274 respectively, finally sell.  The DOM in the detached home category was 82.5 days, the lone row house took 94 days and the 2 apartment transactions sold in an average of 194 days and were on complete opposite ends of the spectrum with one sale taking 14 days and the other 274 days.


Switching to the overall Calgary market we saw stronger activity continue with 1,437 sales which was 25% higher year-over-year and again marked the highest level of November activity since the peak in 2014.  Many communities and categories are still experiencing inventory shortages and Royal Oak is no exception as mentioned above, these conditions have made this an excellent time to get your property and information organized for a post-holiday launch if you are looking to list and sell your home in early 2021.


We are still in the midst of the new COVID restrictions however showings are still taking place and instead of visiting with friends and family over the break, individuals looking for a new home appear to be spending far more time on their searches and viewing properties.


This entire year has been anything but normal and we are always here to provide you with the information you need, so please don’t hesitate to reach out to us with any real estate questions you may have.


We look forward to hearing from you.


www.myroyaloak.ca

Read
Categories:   #YYCRE | Acadia, Calgary Real Estate | Airdrie, Airdrie Real Estate | Altadore River Park | Altadore River Park, Calgary Real Estate | Apartment | Aspen Woods | Aspen Woods, Calgary Real Estate | Attached | Attractions | Banff Trail, Calgary Real Estate | Beddington, Calgary Real Estate | Best | Best of Calgary NW | Best of Calgary NW, Events | Best of NW Calgary, Events | Birchwood | Bowness, Calgary Real Estate | Bridgeland, Calgary Real Estate | Buyer | Buyers | Calgary | Calgary NW Events | Calgary Real Estate | Canyon Meadows, Calgary Real Estate | Christmas Craft Fair | CIR Realty | Citadel, Calgary Real Estate | Coach Hill, Calgary Real Estate | Cochrane, Cochrane Real Estate | Community Cleanup | Community Events | Community Information | Community Market Update | Community Update | Concert | Condominium | Contests & Promotions | Coronavirus | Country Hills Village, Calgary Real Estate | Country Hills, Calgary Real Estate | Coventry Hills Real Estate | Coventry Hills, Calgary Real Estate | COVID-19 | Cranston, Calgary Real Estate | Crescent Heights, Calgary Real Estate | Dalhousie | DCA | Deer Run, Calgary Real Estate | Detached | Detahced | Douglasglen, Calgary Real Estate | Dover, Calgary Real Estate | Duplex | Edgemont, Calgary Real Estate | Evanston, Calgary Real Estate | Event | Events | Family Events | Flapjacks | For Sale | Geoffrey Gordon | Gordon Group | Gordon Group Calgary | Great Big Sea | Greenview, Calgary Real Estate | Harvest Hills Real Estate | Harvest Hills, Calgary Real Estate | HD Cartwright | Hidden Valley, Calgary Real Estate | Home Marketing | Kincora, Calgary Real Estate | Lake Bonavista | Lakeview | Langdon, Langdon Real Estate | Lincoln Park, Calgary Real Estate | Makret Report | March | Market Report | Market Update | McKenzie Towne, Calgary Real Estate | Mission, Calgary Real Estate | Monterey Park, Calgary Real Estate | Monthly Report | Motoring Enthusiasts | My Dalhousie | My Lake Bonavista | My Lakeview | My Royal Oak | myDalhousie | myDalhousie Events | myLakeBonavista | New Brighton Real Estate | New Brighton, Calgary Real Estate | New Development | News | NW Calgary Christmas Craft Fair Guide - NOVEMBER 24 & 25 | Ogden Lynnwd Millcan, Calgary Real Estate | Okotoks Real Estate | Okotoks, Foothills Real Estate | Panorama Hills, Calgary Real Estate | Pickleball | Real Estate | Real Estate News & Information | Real Estate Update | Reunion Real Estate | Row Hopuse | Row House | Royal Oak | Royal Oak, Calgary Real Estate | Ryley Churchill | Saddleridge, Calgary Real Estate | Sale Statistics | Sales | Sales Statistics | Sara Waters | Seller | Seller's Market | Sellers | Semi-Detached | Shirine Gordon | Show & Shine | Single Family | Single-Family | Sold | Springbank Hill, Calgary Real Estate | Stampede Breakfast | Statistics | Strathcona Park, Calgary Real Estate | The Best of Calgary NW | Tim Hortons Camp Day | Transit Oriented | Trends | Trista Wemzel | Trista Wenzel | Tuscany, Calgary Real Estate | Update | Used Toy & Clothing Sale | Valley Ridge, Calgary Real Estate | Victoria Park, Calgary Real Estate | Villa | Volleyball | West Hillhurst, Calgary Real Estate | West Springs, Calgary Real Estate | YYC Real Esate | YYC Real Estate
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.