November marked the beginning of the official ‘slow season’ for real estate activity in Dalhousie as we fell from an extremely busy 18 sales in October to just 4 last month. This mimics the activity we saw in 2018 as well with sales falling from 16 to 5 over the same period (Oct-Nov), so it was to be expected.
The real change that we saw year over year however is the inventory level as we had 44 active properties in 2018 compared to just 26 this year which represents a 41% decrease and is an underlying number that better reflects the improvement we have seen in the market over the past 12 months.
The transactions covered 3 of the 4 categories and interestingly there was not a detached single-family home in the mix with 1 apartment, 1 semi-detached/duplex and 2 row house sales.
The overall Days on Market (DOM) number improved dropping from 50.4 to just 39.3 but with such a small sample group they are not necessarily as indicative of the current market conditions as the larger October sales group.
Heading into to the holiday season and the grip of winter we expect to see a continuation of lower sales numbers however combined with much lower inventory numbers the market appears to be set up for a strong start to 2020.
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.