September brought with it some rather horrendous weather with another ‘Snowtember’ event, but it also brought another solid sales month in the community with 15 completed transactions. This continues a strong run of resale activity over the past 6 months and marks a 67% increase over the 9 sales registered last September.
The overall Days on Market number for all listings was a respectable 55 days which is lower than recent months as there were only 2 properties that spent more than 100 days on the market. The detached sales came in lower at 47 days while the condominium apartment sales trended higher at 77 days.
The inventory also slipped slightly to 44 active properties down from 48 last month which works out to 2.51 months of supply based on the running 6-month community average. As mentioned last month we are however heading into the colder season which generally sees a slow down in resale activity.
Despite the positive numbers in the community, the market as a whole is still feeling the effects of the lingering economic downturn so impactful events like the upcoming federal election and the beginning (or further delay) of the Trans-Mountain pipeline construction will go a long way to determining the mood of the market.
Let us know if you are thinking of making a move or if you would simply like to know the current market value of your home and we would be happy to complete a complimentary professional property evaluation.
For a closer look at all of the active inventory in Lake Bonavista please click on the link below.