We finally had the first solid month of 2019 in June with the highest number of sales over the past 10 months, led largely by an increase in detached single-family home transactions which increased to 9 from just 2 in May.
The number of active listings edged slightly higher from 47 to 49 currently, however with the vastly improved June sales numbers the amount of available inventory fell to 6.39 months compared to a rather bloated 8.06 months in May, based on the running sales average from the past half year.
The average Days on Market (DOM) numbers for the sold properties were also lower in 3 of the 4 property categories and overall dropped from 94.89 days in May to 56.63 days in June; a positive sign for the community as we saw just 3 of the sales with DOM numbers over 100.
The slow and steady mantra continued in June across the City and even with a 6% decrease in the number of sales compared to last year we saw some positive larger picture numbers with a 19% reduction in the number of new listings and a 13% decrease in the amount of active inventory. The oversupply has continued to ease and is slowing the decline in prices, if this trend continues it will ultimately lead to a more balanced Calgary market.
As we have indicated for the past number of months sellers must continue to be extremely competitive and realistic with both list prices and expected final sale prices and on the buyer side, good 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.