The Dalhousie sales numbers cooled off slightly from the heights of June and July but still posted a respectable 11 sales in August. We generally do see things taper off as everybody gets into the back-to-school and back-to-work swing of things.
The mix of resale properties was quite different in August as there were no row house or duplex transactions as the with 5 single family home and 6 apartment condominium sales.
The number of active MLS listings remains almost unchanged at 41 compared to 40 last month so based on another solid month the running sales average from the past half year works out to another drop in the months of available inventory that now sits at 3.79. One note to keep in mind however is that we have passed what are traditionally the busiest months of the year so with the exception of an anticipated solid September and October, the sales numbers will begin to fall when the white fluffy stuff arrives.
The average Days on Market (DOM) numbers for the sold properties decreased slightly as well at 48.09 days for all sales and there were only 2 properties that spent more than 100 days on the market. Looking at each category the detached single-family home DOM was 52.6 days and apartment condominiums were a much improved 44.3 days.
The slow and steady mantra continues to hold true across the city with higher sales numbers and lower new listings, however there is a distinct market split as most of the improvement is for homes priced under the $500k mark.
There are a lot of moving pieces that make up the health of the real estate market and the economy in general and if we continue on the track we’re on the market should continue to move closer to balanced conditions.
Let us know if you are thinking of making a move or if you would simply like to know the current market value of your home and we would be happy to complete a complimentary professional property evaluation.
For a closer look at all of the active inventory in Dalhousie please click on the link below.