October was another relatively steady month in the community with 9 total sales, the interesting part of the equation was the property breakdown as we saw just 1 detached single-family home transaction, which is quite low. The lack of activity in the SFH category is due in large part to a notable lack of inventory as there are currently only 4 detached homes for sale in the entire community. The remainder of the October sales were comprised of 3 semi-detached duplex properties, 4 condominium apartments and condominium 1 row house.
The overall Days On Market (DOM) numbers dropped again falling from 58.5 days in September to 49.7 last month, the DOM for the lone detached sale was 22.0 days, the semi-detached duplex category was 54.0 days, rowhouses came in at 75.0 days and the apartment category was again the highest of the group at 62.7 days.
The current number of active listings remained relatively static increasing from 22 to 23 which is still quite low, this is in step with seasonal trends as we enter the colder months however it has been further dampened by the rise in COVID cases as some sellers are simply not comfortable having their homes on the market at this time. The Months Of Inventory (MOI) continued to fall further into seller’s market territory dropping from 2.8 months to 2.6 months currently based on the rolling sales average from the past half year.
Switching to the overall Calgary statistics we saw a continuation of the recent trend from the past few months with very healthy numbers as there were 1,764 sales which was 23% higher year-over-year and marked the strongest October total since the peak of the market back in 2014. Many communities in Calgary are experiencing inventory shortages in the detached category right now and Dalhousie is no exception with just 4 active listings as noted, there is still strong buyer demand out there so if you are looking to list your single family home now would be a good time to consider it.
The recent drastic rise in COVID cases in the city and the province has definitely affected the real estate market but not in the same way we saw things play out this spring when everything was shut down as we continue to see higher than normal showing activity and the increased sales numbers to go along with it.
As always, we’re here as a trusted professional resource and are more than happy to assist you with your real estate needs whether you are selling or buying and to answer any questions you may have, so please don’t hesitate to reach out to us.
We look forward to hearing from you soon.