We had the busiest month in the last half year in the community with 12 completed sales, marking the first time we have registered double digits since last September. The strong seller’s market has continued with 3 of the March transactions selling well above list price and 7 of the 12 firming up in less than 2 weeks.
The Days On Market (DOM) numbers were improved overall from February and came in at 41.8 for the entire sales group, detached single family homes fared the best at 25.5 days followed by the rowhouse category at 49.7 days with apartments landing slightly higher at 66.3 days.
The inventory level remained virtually flat with 22 currently active listings which based on the rolling 6-month sales average translates into 3 Month Of Inventory (MOI) keeping the conditions in favour of sellers.
Looking at the overall Calgary market things are bustling to say the least with 2,903 completed sales marking the busiest March since 2007. Inventory levels pushed just above 5,400 total listings but the citywide MOI fell below 2 months marking the lowest months of supply since 2014 which has led to price gains in many categories.
As has been the case for the past few months, if you are currently searching for a home make sure you are working with a Realtor who can get your through properties as soon as they come on the market and prepare to encounter a competitive marketplace. If you are thinking of selling, this is an excellent time to list your home and take advantage of the lower inventory and continued strong demand.
Don’t hesitate to reach out to us for a free comprehensive market evaluation on your property or to set up a professional property search.
We look forward to hearing from you!