Life is returning to some semblance of normal in our everyday lives and things have also started to return to ‘normal’ in the real estate industry as the May community sales statistics are finally headed in the right direction.
We saw 7 completed transactions in Dalhousie last month which is up from just 3 in April but still below the 9 sales registered in May of 2019. The majority of the sales were detached single family homes accounting for 5 transactions with one row house condominium sale in the Dalton Square complex and one apartment condominium sales in the Vista View building rounding out the group.
The average days on market numbers dropped to a respectable 51.9 days, falling dramatically from 143.7 the previous month, however as you recall the April numbers were skewed higher by a small sample group with one property that languished on the MLS for 300 days.
The current number of active listings saw the biggest jump increasing 42% to 37 properties while the months of available inventory came in at 7.9 based on the rolling sales average from the past half year.
Looking at the market as a whole many buyers have come back to the table after the drastic slowdown triggered by the onset of COVID-19 as the showing activity numbers surpassed the 2019 levels last week for the first time since mid-March…this is most definitely welcome news.
Sales activity is however still well below normal levels and low oil prices and a slow economic recovery are lingering but there is hope that the pent up demand for those buyers and sellers who put the brakes on their plans during the height of the pandemic will continue to re-enter the fray and help bolster the market.
As always, we will continue to monitor the market and the phased re-opening of the Alberta economy and keep you updated going forward.
We are 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.