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

We had another strong month of sales in September considering the weather wasn’t all the ‘Fall-like’ with 11 completed transactions.  The mix of properties was again spread across several categories as we had 6 detached single-family home sales, 3 apartment sales (all in the Phoenician complex) and 2 rowhouse transactions.

The number of sales was lower than the 14 registered in September of 2018 but the big change comes in the inventory level as we have just 35 active listings compared to 47 last year, which marks a reduction of almost 26% year over year.  Based on the past 6 months of sales the current inventory level works out to 3.0 months of available listings which is bordering on a balanced market and something we haven’t seen for some time.  As alluded to last month however it is important to keep in mind that despite an anticipated strong October, the past 6-month period has represented what is generally the busiest time of the year.

The average Days on Market (DOM) numbers for the sold properties came in at 52.9 days which is a slight uptick from August and was pushed higher by 2 listings that spent more than 160 days on the MLS.  On the opposite end we also had 5 properties that sold in less than 17 days so there was activity at both ends of the spectrum.

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 Dalhousie please click on the link below.

www.mydalhousie.ca

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 Dalhousie sales numbers cooled off slightly from the heights of June and July but still posted a respectable 11 sales in August.  We generally do see things taper off as everybody gets into the back-to-school and back-to-work swing of things.

The mix of resale properties was quite different in August as there were no row house or duplex transactions as the with 5 single family home and 6 apartment condominium sales.

The number of active MLS listings remains almost unchanged at 41 compared to 40 last month so based on another solid month the running sales average from the past half year works out to another drop in the months of available inventory that now sits at 3.79.  One note to keep in mind however is that we have passed what are traditionally the busiest months of the year so with the exception of an anticipated solid September and October, the sales numbers will begin to fall when the white fluffy stuff arrives.

The average Days on Market (DOM) numbers for the sold properties decreased slightly as well at 48.09 days for all sales and there were only 2 properties that spent more than 100 days on the market.  Looking at each category the detached single-family home DOM was 52.6 days and apartment condominiums were a much improved 44.3 days.

The slow and steady mantra continues to hold true across the city with higher sales numbers and lower new listings, however there is a distinct market split as most of the improvement is for homes priced under the $500k mark.

There are a lot of moving pieces that make up the health of the real estate market and the economy in general and if we continue on the track we’re on the market should continue to move closer to balanced conditions.

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 Dalhousie please click on the link below.

www.mydalhousie.ca

We had yet another solid month in July and even pushed slightly ahead of the stellar June sales numbers with 17 completed transactions.  The row house condominium and semi-detached/duplex sales numbers were at almost the same levels as June while the detached single-family home and apartment condominium sales switched places with 6 SFH sales compared to 9 in June and 6 apartment sales up from just 3 the month before.

The number of active MLS listings also improved dropping to 40 from 49 which based on the running sales average from the past half year works out to a much improved 4.21 months of available inventory.

The average Days on Market (DOM) numbers for the sold properties decreased slightly which is nice to see coming in at 51.47 days for all sales although we still had a few sold properties spend over 100 days on the market.  Looking at each category the detached single-family home DOM was 43.83 days, semi-detached/duplex was 8 days based on just 1 sale, row house condominium was 49.50 days and apartment condominium was the highest at 67.67 days.

Overall in Calgary we are still seeing numbers trend in the right direction compared to the same time last year with total MLS sales up by 6.4% for the month and the active inventory down by a fairly large margin at 17.3%.  The oversupply has continued to slowly ease and is keeping a bit of a lid on price decreases however pricing levels are still just under 4% lower across all property categories compared to 2018.

I know we run the risk of sounding like a broken record (large round vinyl things with grooves that play music for anyone under 35) but despite some gradual improvement in the sales numbers year over year, sellers must continue to be extremely competitive and realistic with both list prices and expected final sale prices and on the buyer side, solid value opportunities are still plentiful.

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 Dalhousie please click on the link below.

www.dalhousie.ca

We finally had the first solid month of 2019 in June with the highest number of sales over the past 10 months, led largely by an increase in detached single-family home transactions which increased to 9 from just 2 in May.

The number of active listings edged slightly higher from 47 to 49 currently, however with the vastly improved June sales numbers the amount of available inventory fell to 6.39 months compared to a rather bloated 8.06 months in May, based on the running sales average from the past half year.

The average Days on Market (DOM) numbers for the sold properties were also lower in 3 of the 4 property categories and overall dropped from 94.89 days in May to 56.63 days in June; a positive sign for the community as we saw just 3 of the sales with DOM numbers over 100.

The slow and steady mantra continued in June across the City and even with a 6% decrease in the number of sales compared to last year we saw some positive larger picture numbers with a 19% reduction in the number of new listings and a 13% decrease in the amount of active inventory. The oversupply has continued to ease and is slowing the decline in prices, if this trend continues it will ultimately lead to a more balanced Calgary market.

As we have indicated for the past number of months sellers must continue to be extremely competitive and realistic with both list prices and expected final sale prices and on the buyer side, good value opportunities are still plentiful.

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 Dalhousie please click on the link below.

www.dalhousie.ca

April was almost a carbon copy of March as we had 6 completed sales in the community once again, the days on market numbers improved dramatically as 4 of the 6 sales finalized in 22 days or less with the longest days on market coming in at a respectable 52 days.  4 of the sales were detached single family homes once again to go along with 1 row house sale (5400 Dalhousie) and 1 apartment sale (Vista View); we had no semi-detached/duplex sales during the month.

The active inventory level also increased slightly from 42 to 51 properties as we continue to see the spring market build…hopefully to be accompanied by some healthier sales numbers in the months to come.  Based on the rolling average from the past 6 months, which now sees the high October sales numbers drop out of the range, there is currently 9.86 months of inventory on the market which is still very much slanted in the buyers’ favour.

When looking at Calgary as a whole we continue to see positive signs with higher year over year sales numbers accompanied by lower new listing numbers, a trend that we hope continues as we work towards more balanced market conditions.

While we are on the road to stabilization, sellers must continue to be extremely competitive and very realistic with both list prices and expected final sale prices and on the buyer side of the ledger excellent value opportunities still exist.

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 Dalhousie please click on the link below.

www.mydalhousie.ca

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

The slow start to the year here in Dalhousie continues as we had just 3 completed sales in the month of February…and the properties that did sell had been listed on the market for a very loooong time.

As a result the Days on Market (DOM) number is rather skewed this month, coming in at a bloated 360 days with the 3 sales having been listed for 293, 177 & 610 (yes, not a typo…610!) days respectively.

The good news is the overall inventory has remained steady with 31 active properties which is good news at this point. Depending on what date range you take into account, the months of available inventory number varies dramatically.  When you look at the past 6 months there was an average of 8.17 properties sold per month which would work out to 3.79 months of available inventory which isn’t to shabby but when you look at the slow sales over the past 3 chilly months there were just 4.67 sales per month which would then work out to 6.64 months of available inventory which would point to a firm buyer’s market.

We by no means have a crystal ball to rely on however our feeling is that there is likely a happy medium between the 2 and we should start to see some additional activity with the arrival of warmer weather (finally) and the emergence of previously hibernating buyers.

So what does these numbers all mean to you?  They mean that sellers in Dalhousie still need to be extremely competitive and starkly realistic with their list prices and expected final sale prices and on the other end of the spectrum options continue to abound for buyers looking to call our community home.

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 Dalhousie please click on the link below.

www.mydalhousie.ca