The positive momentum we saw in June continued in July as we had 25 completed sales marking the busiest sales month in Lake Bonavista over the past 2 years. The heightened activity in the community fell in line with the Canada-wide numbers that saw the highest number of monthly sales completed since record keeping first began over 40 years ago!
That is definitely some pent-up demand.
Of the 25 sales, 20 were detached single family homes ranging from $458K to $1.138M and the remaining 5 transactions were apartment condominiums in the Bonavista Estates I & II buildings, spanning from $237K on the low end of the spectrum to $332K on the high end. The overall actual Days On Market (DOM) numbers were almost identical to last month dropping just a fraction to 70.8 days from 70.9 in June. The DOM for detached single family homes was 59.7 days while the DOM for the condominium apartment category was a much higher 115.2 days.
The current number of active listings also took a slight dip falling to 48 which is the exact same number as the same time last year. The months of available inventory saw the biggest drop coming in at 3.5 months, down almost 30% from 4.9 last month based on the rolling sales average from the past half year.
Switching to the overall Calgary market we also continued to see improvement as the total number of sales jumped to 1,828 up from 1,747 in June for the third month of solid gains.
Looking forward, it will be very interesting to see what the post-CERB/mortgage deferral market brings and whether the demand starts to wane or if the stronger numbers continue. As always, we will continue to monitor the market and keep you updated.
We are always 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.