Coinciding with a slow and steady improvement with the year over year sales numbers for Calgary as a whole, we have also seen some improvement in the Dalhousie numbers with 9 completed transactions compared to 6 sales in 3 of the last 4 months. Detached home sales slipped from 4 in April to just 2 in May however we saw improvement in all other property categories.
With much of the long standing inventory finally coming off the market and with the wide variance we can see with these smaller sample groups we have some inflated average Days on Market (DOM) numbers this month; 4 of the 9 sales spent over 130 days on the market with the longest listing hitting 228 days.
The inventory finally showed some improvement as well, there are currently 47 properties listed compared to 51 last month which works out to a 5.83 sales per month average over the past 6 months and puts the current active inventory level at 8.06 months based on this running sales average.
As mentioned, we saw an uptick for the second straight month in year over year transactions in Calgary with 1,937 this May compared to 1,733 in May of 2018. We have also seen the new listing numbers come down so hopefully the market stays on track and this marks the beginning of the long-awaited recovery.
We have a way to go to get back to balanced conditions so sellers must continue to be very realistic with pricing while excellent value is still out there for active buyers.
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.