Coinciding with a slow and steady improvement with the year over year sales numbers for Calgary as a whole, we have also seen continued improvement in the Lake Bonavista numbers with 18 completed transactions compared to 14 in April.  Detached home sales increased from 10 to 15 while apartment sales dropped just slightly from 4 last month to 3 in May.

The overall monthly Days on Market (DOM) number was higher this month which was once again strongly influenced by the high apartment DOM numbers…however the more important stat was the inventory level which inched lower and the current active inventory that dropped sharply from 6.29 months of supply to 5.39 based on the running 6 month average.

As mentioned, we saw an uptick for the second straight month in year over year transactions in Calgary with 1,937 this May compared to 1,733 in May of 2018.  We have also seen the new listing numbers come down so hopefully the market stays on track and this marks the beginning of the long-awaited recovery.

We have a way to go to get back to balanced conditions so sellers must continue to be very realistic with pricing while excellent value is still out there for active buyers.

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

We had another strong month for sales in the community with 14 completed transactions which is also the most sales in a calendar month in the past half year…promising news overall.  The inventory continues to creep up but only slightly with 65 current listings compared to 59 last month which works out to 6.29 months of available inventory, a number that still leaves us in buyer’s market territory despite the increase in sales.

We made one deletion when calculating the Days on Market (DOM) numbers for the sold properties by removing one apartment sale that spent a whopping 417 days on the MLS as it drastically skewed the apartment DOM from the 50.33 posted to 142 days, which is not indicative of the current market conditions.  The overall DOM numbers dropped slightly with the high listing removed coming in at 38.46 days compared to 45.89 in March.

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 Lake Bonavista please click on the link below.

www.mylakebonavista.ca