We had another solid month in July with 8 completed transactions tying the March total for the second busiest calendar month this year as far the number of sales are concerned. The positive activity in the community followed in the footsteps of 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 9 sales, 6 were detached single family homes spanning a huge price range from $515K on the low end to $2.42M on the high end, while the remaining 2 transactions were row house condominiums in the Lakeview Green complexes. The overall actual Days On Market (DOM) numbers increased noticeably up to 99 days from just over 70 in June, this number was pushed higher by 4 sales that spent well over 100 days on the MLS before selling. The DOM for detached single family homes was 94.2 days while the DOM for the row house condominium category was much higher 113.5 days.
The current number of active listings remained virtually the same at 26 compared to 24 available properties at the same time last month. The months of available inventory followed suit and remained exactly the same as June at 4.1 months 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 marking 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.