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.