The numbers are in for January and despite a stronger start to the year across the City as a whole we saw a decreased number of sales in Lake Bonavista compared to the same time last year.

There were 7 completed transactions in January, 6 detached homes and 1 apartment condominium which is down roughly 40% from the 12 sales in January of 2019, this is due largely to the fact that the majority of the sales activity in Calgary is occurring under the $500K mark.  This is further illustrated by the lowest sale this past month which was a detached home listed at $475K that sold well over list price.

The Days on Market (DOM) for the entire group are a bit all over the map once again as they are skewed upward by the two higher priced detached home sales that took 299 and 216 days respectively to sell.  With these comparables removed from the mix the DOM is a much lower 13.8 days which is on the other end of the spectrum and not necessarily market indicative with 46 properties currently active; 29 detached homes and 17 apartment condominiums.

Looking ahead we anticipate the sales numbers will increase as they generally do with the arrival of warmer weather…so anywhere between now and May!

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, 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.

www.mylakebonavista.net

We saw another marked decrease in activity over the past month which was entirely expected as this is usually the script over the Christmas season.  There were 6 total sales in the community in December, 5 detached home sales and 1 apartment condominium sale which is almost identical to what we saw in December 2018 with 7 total sales (5 detached homes and 2 apartments).

The Days on Market (DOM) for the entire group are a bit mis-leading once again as they are skewed higher by one detached property that took 277 days to sell and ended up reducing their list price by $100,000.  With this property removed from the statistical breakdown the DOM is a much healthier 30.2 days which is in our opinion far more indicative of the current market conditions within the neighbourhood.

heading into 2020 most indicators point to a cautiously positive outlook that should lead to continued stabilization across many property categories and areas with some pundits even forecasting the possibility for slight growth…yes price growth in some sectors.  This is welcome news for a market that has experienced steady downward pressure for the better part of the past 5 years.

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.

www.mylakebonavista.net

November marked the beginning of the official ‘slow season’ for real estate activity in Lake Bonavista as we saw the lowest sales number in the past 8 months with just 10 completed transactions.  This mimics the activity we saw a year ago as there were 11 total sales in November of 2018 and virtually the same property breakdown as well with 8 detached home and 2 apartment ends last month compared to 8 detached home and 3 apartment sales last year.

The Days on Market (DOM) for the entire group remained close to what we saw last month coming in at 76.8 days however it was also somewhat artificially inflated by a single property that spent 285 days on the market this year.  When this one lingering listing is removed from the statistical group the DOM drops to 54.7 days which is a number that is far more indicative of the current market conditions.

One interesting takeaway from the November numbers is the sale to list price ratio of the 5 detached homes between $495K and $830K as they fared rather well with 4 sales settling out between 0.8%-2.0% below list price and 1 property selling for 4% ($30,000) above list price.

Heading into to the holiday season and the grip of winter we expect to see a continuation of lower sales numbers however combined with lower inventory numbers the market appears to be set up nicely for a strong start to 2020.

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.

www.mylakebonavista.net

The brisk pace of sales activity in the community slowed slightly last month as we had 12 completed transaction as compared to 15 in September, while year over year the activity was up 34% from the 9 sales registered last October.

The overall Days on Market (DOM) for all listings jumped quite dramatically from the previous month going from 55.0 to 72.2, however this number was artificially inflated by 2 listings that spent 245 and 195 days respectively on the market.  When these anomalies are taken out of the equation the DOM actually drops to 42.6 days, which is more indicative of the current market conditions.

The inventory level continues to decline with 40 active properties compared to 44 in September and as we head into the winter months that number should continue to decline.  Based on the rolling 6-month community average there is currently 2.3 months of available inventory, interestingly the number of active listings was only slightly higher (41) at the same time last year but with a much lower sales rate it translated into 4.6 months of inventory.

Overall, we continue to see steady improvement and elevated levels of activity in many categories recently so hopefully the trend continues and translates into a healthy winter 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.

www.mylakebonavista.net

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.

www.mylakebonavista.net

The fairly strong start to the 2019 real estate market in Lake Bonavista continued in March with some fairly solid numbers once again…nothing off the charts but holding their own as we wade through this market.

The overall Days on Market (DOM) numbers were rather interesting once again as we saw 7 of the 9 completed sales come in under the 30 day mark with 3 actually selling in less than 14 days and on the other end of the spectrum we saw the DOM numbers skewed higher by the 2 remaining sales that took 120 and 174 days respectively.

The inventory in the community has increased since last month with 57 current listings, which is to be expected as we are now into the spring market and that generally marks the beginning of our highest inventory period of the calendar year.  Based on the rolling sales average there is currently 6 months of available inventory which is still high.

On a positive note, the market has shown some signs of stabilization across Calgary as the year over year new listing numbers have dropped across the board and over the past few weeks we have also seen stronger sales numbers in some categories as well, again hopefully a scenario that continues and puts things back on the road to a balanced market.

As was the case in our last update, Lake Bonavista sellers still need to be extremely competitive and bluntly realistic with both list prices and expected final sale prices and on the buyer side of the scale, opportunities continue to present themselves while we are at a low point in 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.

www.mylakebonavista.ca