Along with mistletoe and gold chocolate coins December also brought with it a continuation of the slow resale market activity in the community. There were only 3 completed transactions over the Yuletide month, 2 detached single family home sales and 1 apartment condominium sale.
The overall Days On Market (DOM) number was significantly higher than last month but not alarming as the numbers in such small sales groups are easily influence by one lingering listing which exactly the case here as the lone apartment sale spent 119 days on the market before selling, without this comparable the average DOM is a more respectable 51 days.
There have been just 7 sales over the past 2 months which is certainly lower than the 10 we had in November-December of 2018 however the big difference is still the amount of active inventory. There are currently just 23 active listing in Dalhousie compared to 33 at the same time last year which represents a 30% decrease and is more indicative of the market direction than the number of recently completed sales.
Heading into 2020 most indicators point to a cautiously positive outlook that should lead to continued stabilization across many property categories and areas with some pundits even forecasting the possibility for slight growth…yes price growth in some sectors. This is welcome news for a market that has experienced steady downward pressure for the better part of the past 5 years.
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.