We had another crazy-busy month registering an incredible 32 sales in April, 60% of which sold at or above list price! This has been the busiest sales month since we started keeping track of the numbers here at My Lake Bonavista in October of 2018.
The Days On Market (DOM) numbers tracked slightly higher than march but this was again influenced by 3 listings that lingered on the market for hundreds of days before selling, the adjusted DOM are much lower and more accurately reflect the current market conditions. The DOM came in at 46.4 for the entire sales group (adjusted was 18.5 days), detached single family homes fared the best at 34.2 (16.2 days adjusted) and apartment condominiums were higher at 99.5 days (29.6 days adjusted).
The inventory level remained relatively flat with 30 currently active listings which based on the rolling 6-month sales average translates into just 1.9 Months Of Inventory (MOI) keeping the conditions in favour of sellers.
Looking at the overall Calgary market things were busy across the board with an impressive 3,126 completed sales marking the busiest April on record! Inventory levels pushed just above 6,000 total listings but the citywide MOI remained below 2 months at 1.89 and has led to notable price gains in many categories.
As has been the case for the past few months, if you are currently searching for a home make sure you are working with a Realtor who can get your through properties as soon as they come on the market and prepare to encounter a competitive marketplace. If you are thinking of selling, this is an excellent time to list your home and take advantage of the lower inventory and continued strong demand.
Don’t hesitate to reach out to us for a free comprehensive market evaluation on your property or to set up a professional property search.
We look forward to hearing from you!