We had yet another solid month in July and even pushed slightly ahead of the stellar June sales numbers with 17 completed transactions. The row house condominium and semi-detached/duplex sales numbers were at almost the same levels as June while the detached single-family home and apartment condominium sales switched places with 6 SFH sales compared to 9 in June and 6 apartment sales up from just 3 the month before.
The number of active MLS listings also improved dropping to 40 from 49 which based on the running sales average from the past half year works out to a much improved 4.21 months of available inventory.
The average Days on Market (DOM) numbers for the sold properties decreased slightly which is nice to see coming in at 51.47 days for all sales although we still had a few sold properties spend over 100 days on the market. Looking at each category the detached single-family home DOM was 43.83 days, semi-detached/duplex was 8 days based on just 1 sale, row house condominium was 49.50 days and apartment condominium was the highest at 67.67 days.
Overall in Calgary we are still seeing numbers trend in the right direction compared to the same time last year with total MLS sales up by 6.4% for the month and the active inventory down by a fairly large margin at 17.3%. The oversupply has continued to slowly ease and is keeping a bit of a lid on price decreases however pricing levels are still just under 4% lower across all property categories compared to 2018.
I know we run the risk of sounding like a broken record (large round vinyl things with grooves that play music for anyone under 35) but despite some gradual improvement in the sales numbers year over year, sellers must continue to be extremely competitive and realistic with both list prices and expected final sale prices and on the buyer side, solid value opportunities are still plentiful.
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.