What a Difference a Month Makes...

It’s hard to believe how much things have changed in just a month but the market and really the entire world has shifted dramatically since our last update with the emergence of the pandemic that is COVID-19.

First and foremost, we hope you are doing well and staying safe and healthy as we go through this extremely challenging time.

Switching over to the numbers from this past month, they are of course low with just 4 completed sales and taking into account the unprecedented times we’re in, it is a bit like comparing apples to oranges when we look at the numbers from the same time last year, even though there were only 9 sales last March.

Of the transactions completed, 3 were detached single family homes and 4 were apartment sales with 3 occurring in the Lake Bonavista Estates complex and 1 in the Gateway South Centre building.  The days on market numbers remained similar to what we saw last month and last year at this time coming in at 43.7 days.

Taking a step back and looking at the market as a whole, March actually started off rather well showing marked gains year over year however as the pandemic rose and social distancing measures took effect, activity dropped sharply across the board.  Sales fell by 11 percent compared to last year, which was also 37 per cent lower than long-term averages and pushed the totals for the month to the lowest recorded level since 1995.

The inventory level is also much lower across the City as many sellers have decided to terminate or temporarily withdraw their listings until things improve and we likely won’t see levels recover until things improve and social distancing measures are scaled back.

Given the progression of COVID-19 we expect the April numbers and activity to potentially be even slower as the March totals were buoyed by the first 2 positive weeks of the month.

We will continue to monitor the situation as it develops and keep you updated, there are parallels to other slowdowns and recessions in recent history but nothing close to the scale and effect that COVID-19 has had so we are taking things day-by-day.

We are always here for you and all our clients and contacts as we navigate through this pandemic together, whether it’s real estate related information or otherwise so please do not hesitate to reach out to us with any questions you may have.

Stay healthy, stay informed and stay grounded.

www.mylakebonavista.net

What a Difference a Month Makes...

It’s hard to believe how much things have changed in just a month but the market and really the entire world has shifted dramatically since our last update with the emergence of the pandemic that is COVID-19.

First and foremost, we hope you are doing well and staying safe and healthy as we go through this extremely challenging time.

Switching over to the numbers from this past month, they are of course very low with just 4 completed sales and taking into account the unprecedented times we’re in, it is a bit like comparing apples to oranges when we look at the numbers from the same time last year, even though there were just 6 sales last March.

Of the transactions completed, 1 was a duplex and 3 were apartment sales with 2 occurring in the Phoenician complex and 1 in the Fortress building.  The days on market numbers were again skewed as 2 of the 4 sales lingered on the market for 154 and 357 days respectively so they drastically inflated the monthly average.

Taking a step back and looking at the market as a whole, March actually started off rather well showing marked gains year over year however as the pandemic rose and social distancing measures took effect, activity dropped sharply across the board.  Sales fell by 11 percent compared to last year, which was also 37 per cent lower than long-term averages and pushed the totals for the month to the lowest recorded level since 1995.

The inventory level is also much lower across the City as many sellers have decided to terminate or temporarily withdraw their listings until things improve and we likely won’t see levels recover until things improve and social distancing measures are scaled back.

Given the progression of COVID-19 we expect the April numbers and activity to potentially be even slower as the March totals were buoyed by the first 2 positive weeks of the month.

We will continue to monitor the situation as it develops and keep you updated, there are parallels to other slowdowns and recessions in recent history but nothing close to the scale and effect that COVID-19 has had so we are taking things day-by-day.

We are always here for you and all our clients and contacts as we navigate through this pandemic together, whether it’s real estate related information or otherwise so please do not hesitate to reach out to us with any questions you may have.

Stay healthy, stay informed and stay grounded.

www.mydalhousie.ca

Welcome to My Royal Oak!

So why a community and real estate website?  Good question.

The answer is simple...because there wasn't one!  The goal of My Rpyal Oak is to be the primary source for all community and real estate news and information for the neighbourhood.

This online community hub is brought to you by the Gordon Group at CIR Realty, we feel the best way to serve our clients and prospective clients is to provide value and relevant content and resources so this is just another step in that direction.

if you have a community event to promote, a great neighbourhood photo to pass along or if you have any questions about the community real estate market, whether you are looking to buy or sell in the community just let us know!  We are easy to reach using the contact tab on the right of the page, the Message Us form at the bottom of the page or through our My Royal Oak Facebook Page...we'd love to hear from you!

The statistics for February have improved over last month as far as the number of sales are concerned however a higher level of active inventory came along with it compared to the same time last year.

There were 9 completed transactions in the leap month, 9 detached homes and 2 apartment condominiums which is slightly higher than the 9 total sales registered last February.  As mentioned, the level of unsold inventory is also up just under 20% to 57 active listings compared to 48 in 2019.

The average actual Days on Market (DOM) numbers for the community were down substantially from January’s total as only 2 of the sold listings spent more than 100 days on the market and 7 sales were completed in 14 days or less; further evidence that the properties that are in the best condition AND are the best-priced homes sell rather quickly.

Looking further into 2020 it is difficult to tell how the market will play out with positive factors like a drastic cut to interest rates and loosening of mortgage stress test rules battling against the negativity with the Coronavirus COVID-19 outbreak and the tanking of world oil prices as a result of the escalating price war between Russia and Saudi Arabia.

If you are thinking of making a move or if you would simply like a complimentary professional comparative market evaluation on your current property, please let us know.

For a closer look at all of the active listings in Lake Bonavista please click on the link below.

www.mylakebonavista.net

The final numbers are in for the month of February and they are eerily similar to what we saw last year over the same time period.

There were just 3 sales this past month and all 3 were detached singe family homes that were in largely original condition.  There are currently just 25 active listings across all property types in Dalhousie which is 13% lower than the 31 listings available last year, so overall it was a positive month despite the low number of completed transactions.

The overall Days On Market (DOM) number was lower than January coming in at 55.3 days but with such a small sample group it is not necessarily indicative of the current market conditions.

The most interesting factor still lies with the decreased number of listings as we have just 2.7 months of active inventory based on the 12-month rolling average in Dalhousie.  We do expect to see more properties hit the MLS as we get closer to the arrival of ‘real’ Spring but if lower inventory levels persist,  we could start to see a shift away from a buyer’s market.

The activity across the city has continued to build on the strong start to the year with a 23% increase in sales over last February, however to put the increase into perspective, last February marked one of the slowest sales activity months since the early 90’s so it would have been hard not to improve upon.

Looking further into 2020 it is difficult to tell how things will play out with positive factors like a drastic cut to interest rates and loosening of mortgage stress test rules battling against the negativity with the Coronavirus COVID-19 outbreak and the tanking of world oil prices as a result of the escalating price war between Russia and Saudi Arabia.

If you are thinking of making a move or if you would simply like a complimentary professional comparative market evaluation on your current property, please let us know.

For a closer look at all of the active listings in Dalhousie please click on the link below.

www.mydalhousie.ca

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

Along with mistletoe and gold chocolate coins December also brought with it a continuation of the slow resale market activity in the community.  There were only 3 completed transactions over the Yuletide month, 2 detached single family home sales and 1 apartment condominium sale.

The overall Days On Market (DOM) number was significantly higher than last month but not alarming as the numbers in such small sales groups are easily influence by one lingering listing which exactly the case here as the lone apartment sale spent 119 days on the market before selling, without this comparable the average DOM is a more respectable 51 days.

There have been just 7 sales over the past 2 months which is certainly lower than the 10 we had in November-December of 2018 however the big difference is still the amount of active inventory.  There are currently just 23 active listing in Dalhousie compared to 33 at the same time last year which represents a 30% decrease and is more indicative of the market direction than the number of recently completed sales.

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 Dalhousie please click on the link below.

www.mydalhousie.ca

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

November marked the beginning of the official ‘slow season’ for real estate activity in Dalhousie as we fell from an extremely busy 18 sales in October to just 4 last month.  This mimics the activity we saw in 2018 as well with sales falling from 16 to 5 over the same period (Oct-Nov), so it was to be expected.

The real change that we saw year over year however is the inventory level as we had 44 active properties in 2018 compared to just 26 this year which represents a 41% decrease and is an underlying number that better reflects the improvement we have seen in the market over the past 12 months.

The transactions covered 3 of the 4 categories and interestingly there was not a detached single-family home in the mix with 1 apartment, 1 semi-detached/duplex and 2 row house sales.

The overall Days on Market (DOM) number improved dropping from 50.4 to just 39.3 but with such a small sample group they are not necessarily as indicative of the current market conditions as the larger October sales group.

Heading into to the holiday season and the grip of winter we expect to see a continuation of lower sales numbers however combined with much lower inventory numbers the market appears to be set up 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 Dalhousie please click on the link below.

www.mydalhousie.ca

As anticipated October was indeed a strong month for real estate in the community, in fact it was the strongest sales month in the past year with 18 completed transactions.  The mix of properties was spread across all property categories for the first time since July with 11 detached single-family home sales, 1 semi-detached duplex sale, 1 row house transaction and 5 apartment sales.

The average days on market number for all listings fell slightly to 50.4 days from 52.9 days last month however looking at the longer-range stats we see a noticeable improvement from the 62.9 days in October of 2018.

The category that saw the biggest improvement was definitely detached single-family homes as the average days on market dropped rather drastically to just 30 days from 47 last month, additionally we saw 6 of the 11 transactions completed in under 18 days and had 4 sell at or over list price.

With another strong sales month in the books and just 29 active listings the months of available inventory has dropped to a rather low 2.1 months based on the 6-month rolling average. The current inventory once again shows a dramatic improvement longer term with a 24% decrease from the 44 active listings at the same time last year.

As mentioned before we are heading in to what is traditionally a slower period of sales activity so the months of available inventory will likely creep back up in the short term, however we have seen elevated levels of activity in many categories recently so hopefully the trend continues and translates into a solid 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 Dalhousie please click on the link below.

www.mydalhousie.ca

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

We had a stellar end to the ‘official’ summer market in August and had the highest number of completed transactions in the past year with 22, consisting of 18 single family home sales and 4 apartment condominium sales.

There were a number of properties that had lingered on the market for months and months that finally sold which increased the monthly Days On Market (DOM) numbers, these were largely in the higher price bracket while the majority of the more affordable homes under the $600K mark sold rather quickly

The large number of sales also took a good bite out of the active inventory which is sitting at 48 down from 60 last month which has also translated into a reduction in the months of available inventory number which is currently at just 2.91 months based on the running 6 month community sales average.  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 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 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 saw a slight step back in July compared to what was a stellar June but still positive numbers overall.  There were 17 completed transactions in the Stampede month with 11 detached home sales, which was down from 16 in June and 6 apartment condominium sales, up from just 3 the month before.

The number of active listings took a turn with 60 active properties on the MLS compared to 52 which based on the running sales average from the past half year works out to a slightly higher 4.19 months of available inventory.

The average Days on Market (DOM) numbers for the sold properties decreased which is nice to see coming in at 68.88 days for all sales although we still had a few sold properties spend over 100 days on the market, 1 detached home sale and 3 of the 6 apartment condominium sales.  Looking at each category the detached single-family home DOM was 56.91 days and apartment condominiums came in under 100 days for the first time since April at 90.83 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 Lake Bonavista please click on the link below.

www.mylakebonavista.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

We had another solid month in June with the highest number of sales in the past 10 months and we also saw a decent drop in active inventory to go along with it. There were 19 completed transactions in June, 16 detached home sales and 3 apartment condominium sales.

As mentioned, the number of listings fell compared to last month as there are currently 52 properties for sale in the community which based on the running sales average from the past half year works out to 3.85 months of available inventory…a number that is certainly trending in a healthier direction.

The average Days on Market (DOM) numbers for the sold properties hovered somewhat around the same levels as last month with the detached homes trending higher and the apartments heading slightly lower. The average DOM for the apartments is still high overall coming in at 128.67 days down from 139.67 in May while the DOM for the detached homes was 76.31 days up from 49.13 last month as it seemed the homes either sold in very short order or lingered for months.

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 Lake Bonavista please click on the link below.

www.mylakebonavista.ca