We had an absolutely crazy month in March registering a whopping 23 sales, 10 of which sold at or above list price! This has been the busiest sales month since last July and the second busiest month since the beginning of 2019.
The Days On Market (DOM) numbers tracked slightly higher than February but this was influenced largely by a couple of listings that took over 130 days to sell. The DOM came in at 33.9 for the entire sales group up from an unsustainable 18.8 last month, detached single family homes fared the best at 29.7 and apartment condominiums came in higher at 62.3 days.
The inventory level stayed flat just 24 currently active listings which based on the rolling 6-month sales average translates into just 1.7 Months Of Inventory (MOI), the same number we saw in February. The demand continues to outweigh the supply in Lake Bonavista and the conditions remain firmly entrenched in a strong seller’s market.
Looking at the overall Calgary market things are bustling to say the least with 2,903 completed sales marking the busiest March since 2007. Inventory levels pushed just above 5,400 total listings but the citywide MOI fell below 2 months marking the lowest months of supply since 2014 which has led to 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!