The stronger than normal activity continued last month with 9 sales in the community, matching the total from October. Once again, the biggest part of the story is the level of inventory that continues to plummet and is currently sitting at 17 active listings across all categories which has pushed Dalhousie into full seller’s market conditions with just 1.8 months of available inventory.
A portion of this reduction is seasonal as traditionally a good number of sellers take their properties off the market over the holidays and then re-list in January, however this year we have a higher number of withdrawals and terminations as well as many sellers who have chosen not to enter the market at all given the pandemic and the current restrictions in place. This has created some very tight conditions and represents a full 180-degree turnaround from what the market was doing during the first wave of COVID this past spring.
Looking a bit closer at the numbers we saw the actual average Days On Market (DOM) increase to 61.1 due in large part to a couple of properties that took over 125 days to sell. The DOM for detached homes was 67.7 days, semi-detached duplexes were higher at 98.5 days, the lone row house sale took 96.0 days and the apartment category was the lowest of the group at just 18 days with 2 of the 3 sales selling in just 7 days.
Switching to the overall Calgary market we saw stronger activity continue with 1,437 completed transactions which was 25% higher year-over-year and again marked the highest November sales total since the peak in 2014. Many communities and categories are still experiencing inventory shortages and Dalhousie is no exception as mentioned above, these conditions have made this an excellent time to get your property and information organized for a post-holiday launch if you are looking to list and sell your home in early 2021.
We are still in the midst of the new COVID restrictions however showings are still taking place and instead of visiting with friends and family over the break, individuals looking for a new home appear to be spending far more time on their searches and viewing properties.
This entire year has been anything but normal and we are always here to provide you with the information you need, so please don’t hesitate to reach out to us with any real estate questions you may have.
We look forward to hearing from you.