We had another busy month in March registering 13 sales and the detached single-family category once again led the charge with 9 transactions, 4 of which sold above list price. This has been the busiest sales month over the past year and has pushed conditions even further into seller’s market territory.
The Days On Market (DOM) numbers were much lower this month with all but 3 sales firming up in under 21 days and 5 sales finalizing in less than 10 days. The DOM came in at just 16.2 for the entire sales group, which is extremely low, detached single family homes fared the best at only 9.4 days followed by the lone semi-detached sale that spent 7 days on the market and the rowhouse category trended higher at 39.3 days.
The inventory level actually decreased with just 18 currently active listings which based on the rolling 6-month sales average translates into just 2.0 Months Of Inventory (MOI), down notably from 2.8 months in February. As mentioned above, the community is 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!
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