We had an absolutely crazy month in March registering a whopping 28 sales, 9 of which sold at or above list price!  This has been the busiest sales month in quite a long time in the community and has pushed things even further into seller’s market territory.

The Days On Market (DOM) numbers tracked slightly higher than February but this was influenced largely by a handful of listing that lingered on the market for extended ‘triple-digit’ periods of time.  The DOM came in at 41.5 for the entire sales group, detached single family homes fared the best at 27.5 days followed by the rowhouse category at 46.0 days with apartments landing much higher at 121.3 days.

The inventory level actually decreased with just 23 currently active listings which based on the rolling 6-month sales average translates into just 1.7 Months Of Inventory (MOI) which is down notably from 2.3 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!

www.myroyaloak.ca

We had the busiest month in the last half year in the community with 12 completed sales, marking the first time we have registered double digits since last September.  The strong seller’s market has continued with 3 of the March transactions selling well above list price and 7 of the 12 firming up in less than 2 weeks.

The Days On Market (DOM) numbers were improved overall from February and came in at 41.8 for the entire sales group, detached single family homes fared the best at 25.5 days followed by the rowhouse category at 49.7 days with apartments landing slightly higher at 66.3 days.

The inventory level remained virtually flat with 22 currently active listings which based on the rolling 6-month sales average translates into 3 Month Of Inventory (MOI) keeping the conditions in favour of sellers.

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!

www.mydalhousie.ca

We had an absolutely crazy month in March registering a whopping 23 sales, 10 of which sold at or above list price!  This has been the busiest sales month since last July and the second busiest month since the beginning of 2019.

The Days On Market (DOM) numbers tracked slightly higher than February but this was influenced largely by a couple of listings that took over 130 days to sell.  The DOM came in at 33.9 for the entire sales group up from an unsustainable 18.8 last month, detached single family homes fared the best at 29.7 and apartment condominiums came in higher at 62.3 days.

The inventory level stayed flat just 24 currently active listings which based on the rolling 6-month sales average translates into just 1.7 Months Of Inventory (MOI), the same number we saw in February. The demand continues to outweigh the supply in Lake Bonavista and the conditions remain 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!

www.mylakebonavista.net

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!

www.mylakeview.net

The strong seller’s market conditions continued last month and despite the fact we saw only 6 sales in February, 3 of them sold above list price!  3 sales were detached single family homes, 2 were apartment condominiums and there was 1 row house transaction.

The Days On Market (DOM) numbers were once again positive as just 1 sale spent more than 100 days on the market; the average actual DOM for the detached category was just 23.3 days, apartment condominiums were 99.0 days and the lone row house took 38 days to sell.

The inventory level remains low with 21 currently active listings which based on the rolling 6-month sales average translates into 2.9 Month Of Inventory (MOI) and that once again remains entrenched in seller’s market territory.

Looking at the overall Calgary numbers it was more of the same as 1,836 sales were registered which was up a staggering 54.3% year over year, inventory was down 20.4% at 4,518 and the MOI for all categories was down 48.4% to 2.4 months.

Once again, 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!

www.mydalhousie.ca

The strong seller’s market conditions continued as we had 12 sales in the community in February, 5 of which sold at or above full list price!  7 sales were detached single family homes, 3 were row house/semi-detached properties and 2 sales were apartment condominiums.

The Days On Market (DOM) numbers were once again very positive as 8 of the 12 listings took less than 14 days to sell; the average actual DOM for the detached category was an incredibly low 8.7 days, the row house/semi-detached was 86.3 days and apartment condominiums came in at just 10.0 days.

The inventory level remains low with 25 currently active listings which based on the rolling 6-month sales average translates into 2.3 Month Of Inventory (MOI) and that once again remains firmly entrenched in seller’s market territory.

Looking at the overall Calgary numbers it was more of the same as 1,836 sales were registered which was up a staggering 54.3% year over year, inventory was down 20.4% at 4,518 and the MOI for all categories was down 48.4% to 2.4 months.

Once again, 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!

www.myroyaloak.ca

The strong seller’s market conditions continued as we had 11 sales in the community in February, 4 of which sold over list price!  All of the sales were single family homes as the detached category continues to lead the charge in 2021.

The Days On Market (DOM) numbers were once again very positive as 6 of the 11 properties sold in less than 21 days, the average actual DOM for the detached category was 36.5 days.

The inventory level remains low with 23 currently active listings which based on the rolling 6-month sales average translates into 2.8 Month Of Inventory (MOI) and that once again remains entrenched in seller’s market territory.

Looking at the overall Calgary numbers it was more of the same as 1,836 sales were registered which was up a staggering 54.3% year over year, inventory was down 20.4% at 4,518 and the MOI for all categories was down 48.4% to 2.4 months.

Once again, 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!

www.mylakeview.net

The strong seller’s market conditions continued as we had 11 sales in the community in February, 7 of which sold over list price!  10 sales were detached single family homes and the remaining transaction was an apartment condominium in the Gateway South Centre complex.

The Days On Market (DOM) numbers were once again very positive as only 3 of the 11 sales spent more than 14 days on the market; the average actual DOM for the detached category was just 18.6 days and the lone condo sale firmed up in only 21 days.

The inventory level remains low with 23 currently active listings which based on the rolling 6-month sales average translates into 1.7 Month Of Inventory (MOI) and that once again remains firmly entrenched in seller’s market territory.

Looking at the overall Calgary numbers it was more of the same as 1,836 sales were registered which was up a staggering 54.3% year over year, inventory was down 20.4% at 4,518 and the MOI for all categories was down 48.4% to 2.4 months.

Once again, 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!

www.mylakebonavista.net

If you haven’t been paying close attention to real estate or watching the 6 o’clock news lately you may not have seen the latest headlines or know about all the activity and commotion that is currently taking place in the Calgary real estate market.

We have gone from the absolute doldrums of the initial lockdown a little less than a year ago to an incredibly hot seller’s market where multiple offers, sales over list price and line-ups to view properties have returned with a vengeance.

The numbers from last month are in and they reached some rather lofty heights with 1,841 total sales representing a dramatic 58% increase year over year and marking the busiest February since the peak of the market in 2014.

The initial sales momentum originated in the affordable detached single family home category and it is still the busiest segment of the market however the activity has started to spill over into other categories, except for apartment condominiums that are still dealing with inflated inventory and continued downward pressure on pricing.

The very valid question that begs to be answered now is “How is this happening?” We are in the midst of record-breaking levels of government debt, ultra-high rates of unemployment and an unprecedented number of business closures and bankruptcies…how are we setting real estate sales records at the same time!?

There is not a single smoking gun culprit that produced the conditions we are experiencing right now, rather, it is a combination of factors that have created a ‘perfect seller’s market storm’ of sorts. This is certainly not an exhaustive list given how many variables play into any given market, however it covers the primary drivers we have researched and experienced first-hand that have led us to where we are today.

Interest Rates

This is one of the more obvious sources of momentum behind the increase in sales activity and demand, banks and lenders are offering historically low mortgage interest rates which makes home ownership more attainable. Buyers who are taking advantage of sub 2% rates are able to obtain the homes they want at a far more affordable monthly rate.

Inventory

This is a simple case of supply and demand. Inventory levels are lower due to several factors including scaled down home starts and new build activity in 2020, buyers who do not want to have their homes listed during a pandemic and the traditional seasonal trend that generally sees lower inventory levels December through February before the flood of spring listings arrive.

Buyer Confidence

Although we are not out of the woods yet in regard to COVID, the light at the end of the tunnel is closer than ever with vaccines finally rolling out and the goal of some sort of normality presumably just around the corner. Additionally, as surmised by the most recent CREB market update “…some of the worst fears concerning the energy sector are easing with recent gains in energy prices.” 

Space at Home

This is a unique underlaying trend that has contributed to the scenario as many individuals, couples and families simply need more space! With a drastic increase in working and schooling at home it has become glaringly apparent that the dining room table alone is not big enough to accommodate numerous workspaces and simultaneous Zoom calls. In addition, previously designated recreation spaces have also been squeezed with more bodies at home for longer periods of time. 

COVID Cash

Finally, one of the most intriguing side effects of the pandemic lockdown has been the record level of household savings in 2020 as most stayed home and tightened the purse strings. Canadians are currently sitting on the largest cash hoard in recorded history, forecasted by BMO’s chief economist to be close to $200 billion when the final numbers are calculated for the fourth quarter. Statistics Canada indicates household savings rates peaked at almost 28% in the second quarter of last year up from just under 4% pre-pandemic. Simply put, a greater number of buyers were able to save enough for a down payment in 2020 and are now purchasing homes.

Now that you know why we are here…what is the best strategy moving forward? The answer to that question depends on whether you are looking to sell or buy.

If you are thinking of listing your home this year, getting it on the market in the short term is definitely something to consider to take advantage of the current market. The red-hot conditions were unexpected to say the least, there were signs that the market was gaining momentum heading into 2021 but you would be hard-pressed to find anyone in the industry who forecast the current level of activity. Predicting how long this scenario will last falls along the same lines, the expectation is that inventory will eventually catch up to the demand but it almost impossible to predict when that will occur.

On the buying side of the coin, be prepared to be very active and very competitive as you are look for a new home, when quality properties hit the MLS they sell extremely fast so you need to ensure you get in to see listings as quickly as possible. Although this can be stressful, actively searching is likely still in your best interest as we have seen notable price increases recently which means the homes you are browsing through today may very well be priced higher in the weeks and months to come.

As always, we are here to answer all your real estate questions so don’t hesitate to reach out to us with any queries you have.  Our goal is to ensure you have all the resources and advice you need to help you make your best and most informed real estate decisions in 2021.

- Geoffrey, Shirine, Trista, Ryley & Sara

The seller’s market conditions that have recently taken over the detached single-family category continued to gain momentum last month with 7 completed sales.

Detached homes accounted for the majority of the activity with 6 sales to go along with 1 row house condominium transaction, the exact same breakdown that we saw in December as well.  The ‘actual’ average Days On Market (DOM) numbers came in at 56.5 for SFH detached homes although this was skewed higher by one property that spent 182 days on the market, and the lone row house sale took 135 days to firm up.

There are currently only 22 active listings across all property groups in the community and the seller’s market conditions continue in Royal Oak with 2.6 months of available inventory.

Switching to the overall Calgary numbers, the story was much the same with 1,208 completed sales last month which once again marked an increase of just over 40% year over year.

If you are currently searching for a home make sure you are working with a Realtor who can get your through homes almost as soon as they come on the market and prepare to encounter a very competitive marketplace.  If you are thinking of selling in 2021 this is an excellent time to list your home and take advantage of the limited inventory and strong buyer 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!

www.myroyaloak.ca

The seller’s market conditions that have recently taken over the detached single-family category continued to gain momentum last month with 8 completed sales - almost double than what we saw at the same time last year!

Detached homes accounted for the majority of the sales with 7 to go along with 1 row house condominium transaction, the ‘actual’ average Days On Market (DOM) numbers came in at 52.3 for SFH detached homes although this was skewed higher by one property that spent 201 days on the market, and the lone row house sale took 28 days to firm up.

There are currently only 19 active listings across all property groups in the community and the seller’s market conditions continue in Lakeview with 2.6 months of available inventory.

Switching to the overall Calgary numbers, the story was much the same with 1,208 completed sales last month which once again marked an increase of just over 40% year over year.

If you are currently searching for a home make sure you are working with a Realtor who can get your through homes almost as soon as they come on the market and prepare to encounter a very competitive marketplace.  If you are thinking of selling in 2021 this is an excellent time to list your home and take advantage of the limited inventory and strong buyer 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!

www.mylakeview.net

The crazy seller’s market conditions that have recently taken over the detached single-family category continued to gain momentum across the city last month however the sales within the community remained very low and is due entirely to a lack of available inventory.

There were just 3 sales in Dalhousie last month, 1 detached home and 2 row house condominiums which was well below normal, there is still very strong buyer demand however the listings have just not materialized over the past few months.  The ‘actual’ average Days On Market (DOM) numbers came in at 67.0 for the lone detached sale and 22.5 for the 2 row houses transactions.

There are currently only 12 active listings across all property groups in the community which has pushed Dalhousie further into seller’s market conditions with just 1.5 months of available inventory.

Switching to the overall Calgary numbers, the story was much the same with 1,208 completed sales last month which once again marked an increase of just over 40% year over year.

If you are currently searching for a home make sure you are working with a Realtor who can get your through homes almost as soon as they come on the market and prepare to encounter a very competitive marketplace.  If you are thinking of selling in 2021 this is an excellent time to list your home and take advantage of the limited inventory and strong buyer 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!

www.mydalhousie.ca

The crazy seller’s market conditions that have recently taken over the detached single family category continued to gain momentum last month with 14 completed sales - double what we saw at the same time last year!

Detached homes accounted for the majority of the sales with 10 to go along with 4 apartment condominium transactions, the ‘actual’ average Days On Market (DOM) numbers came in at 65.2 for SFH detached homes and a much higher 108.5 for the apartment group.

There are currently only 20 active listings across all property groups in the community which has pushed Lake Bonavista further into seller’s market conditions with just 1.5 months of available inventory.

Switching to the overall Calgary numbers, the story was much the same with 1,208 completed sales last month which once again marked an increase of just over 40% year over year.

If you are currently searching for a home make sure you are working with a Realtor who can get your through homes almost as soon as they come on the market and prepare to encounter a very competitive marketplace.  If you are thinking of selling in 2021 this is an excellent time to list your home and take advantage of the limited inventory and strong buyer 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!

www.mylakebonavista.net

The sales numbers were down slightly from the flurry of activity we saw leading into the end of the year but this was due in large part to a relative lack of available inventory rather than a slowdown in the market or a decrease in buyer demand.  This shortage of properties remains at the forefront of the discussion as there are currently just 23 active listings across all categories which has pushed Lake Bonavista further into seller’s market conditions with only 1.5 months of available inventory.

The affordable single family home category has been the hardest hit as far as shortages are concerned and Lake Bonavista is no exception with just 6 detached homes under $600,000 currently on the market. This has created some very tight and competitive conditions in this range as buyer demand remains very strong due to a number of factors, most notably the historically low sub 2% interest rates being offered right now.

The luxury market in the community also mimics the conditions we see in many other areas as there is greater supply and overall a lower level of buyer demand compared to the more affordable range.

Looking a bit closer at the community numbers we saw the ‘actual’ average Days On Market (DOM) increase dramatically however this was due mostly to one luxury home that spent over 600 days on the market.  The overall DOM increased from just 13.8 days to 104.4 days in December; the detached home category came in at 134.8 days while apartment condominiums took an average of 58.7 days to sell.

Switching to the overall Calgary market, the story was much the same with 1,199 completed sales last month which is an incredible 40.1% higher year over year and marks the busiest December since 2007.

Given the state of the market at the moment this is an excellent time to list your home, if you are thinking of selling in 2021 don’t hesitate to reach out to us for a free comprehensive market evaluation on your property.

We look forward to hearing from you!

www.mylakebonavista.net

The sales numbers were down slightly from the flurry of activity we saw leading into the end of the year but this was primarily due to a distinct lack of available inventory rather than a slowdown in the market or a decrease in buyer demand.  This shortage of properties remains at the forefront of the discussion as there are currently just 14 active listings across all categories which has pushed Dalhousie even further into seller’s market conditions with just 1.7 months of available inventory.

The affordable single family home category has been the hardest hit as far as shortages are concerned and Dalhousie is no exception with just 2 detached homes under $550,000 currently on the market.  This has created some very tight and competitive conditions as buyer demand remains very strong due to a number of factors, most notably the historically low sub 2% interest rates being offered right now.

Looking a bit closer at the community numbers we saw the overall ‘actual’ average Days On Market (DOM) drop from 61 to 54 days, the DOM for detached homes was 64.3 days, the lone semi-detached duplex listing took 37 days to sell and the single apartment sale spent 40 days on the market.

Switching to the overall Calgary market the story was much the same with 1,199 completed sales last month which is an incredible 40.1% higher year over year and marks the busiest December since 2007.

Given the state of the market at the moment this is an excellent time to list your home, if you are thinking of selling in 2021 don’t hesitate to reach out to us for a free comprehensive market evaluation on your property.

We look forward to hearing from you!

www.mydalhousie.ca

The sales numbers were down from the flurry of activity we saw leading into the end of the year but this was due to a relative lack of affordable available inventory rather than a slowdown in the market or a decrease in buyer demand.  This shortage of properties remains at the forefront of the discussion as there are currently just 16 active listings across all categories which means Lakeview still falls into seller’s market conditions with 2.2 months of available inventory.

The affordable single family home category has been the hardest hit as far as shortages are concerned and Lakeview is no exception with just 2 detached homes under $650,000 currently on the market. This has created some very tight and competitive conditions in this range as buyer demand remains very strong due to a number of factors, most notably the historically low sub 2% interest rates being offered right now.

The luxury market in Lakeview also mimics the conditions we see in many other areas as there is greater supply and overall a lower level of buyer demand compared to the more affordable range.

Looking a bit closer at the community numbers we saw the overall ‘actual’ average Days On Market (DOM) drop from 45 to just over 32 days with the totals for the individual properties ranging from 12 days on the bottom end to 49 days on the high end of the spectrum.

Switching to the overall Calgary market the story was much the same with 1,199 completed sales last month which is an incredible 40.1% higher year over year and marks the busiest December since 2007.

Given the state of the market at the moment this is an excellent time to list your home, if you are thinking of selling in 2021 don’t hesitate to reach out to us for a free comprehensive market evaluation on your property.

We look forward to hearing from you!

www.mylakeview.net

The sales numbers were down slightly from the flurry of activity we saw leading into the end of the year but this was due in large part to a relative lack of affordable available inventory rather than a slowdown in the market or a decrease in buyer demand.  This shortage of properties remains at the forefront of the discussion as there are currently just 23 active listings across all categories which means Royal Oak is still in a seller’s market with only 1.7 months of available inventory.

The affordable single family home category has been the hardest hit as far as shortages are concerned and Royal Oak is no exception with just 3 detached homes under $550,000 currently on the market. This has created some very tight and competitive conditions in this range as buyer demand remains very strong due to a number of factors, most notably the historically low sub 2% interest rates being offered right now.

The luxury market in the community also mimics the conditions we see in many other areas as there is greater supply and overall a lower level of buyer demand compared to the more affordable range.

Looking a bit closer at the community numbers we saw the overall ‘actual’ average Days On Market (DOM) drop significantly with no apartment condominium sales during the month, falling from 94.7 days to 38.7 days.  The totals for the individual properties ranged quite drastically from just 5 days on the low end to 113 days on the high end for the lone luxury row house listing.

Switching to the overall Calgary market, the story was much the same with 1,199 completed sales last month which is an incredible 40.1% higher year over year and marks the busiest December since 2007.

Given the state of the market at the moment this is an excellent time to list your home, if you are thinking of selling in 2021 don’t hesitate to reach out to us for a free comprehensive market evaluation on your property.

We look forward to hearing from you!

www.myroyaloak.ca

November was another solid sales month in the community with 11 completed transactions which is just below the average monthly total over the past 6 months.  The biggest part of the story continues to be the level of inventory that keeps slipping and is currently sitting at 23 active listings across all categories and has pushed the community further into seller’s market territory with just under 1.8 months of available inventory.

A portion of this reduction is seasonal as traditionally many sellers take their properties off the market over the holidays and then re-list in January, however this year we have a higher number of withdrawals and terminations as well a number of potential sellers who have chosen not to enter the market at all given the pandemic and the current restrictions in place.  This has created some very tight conditions and represents a full 180-degree turnaround from what the market was doing during the first wave of COVID this past spring.

Looking a bit closer at the activity, the overall Days On Market (DOM) numbers took a drastic upswing from 35.2 days to 94.7 days largely due to the fact that we saw 2 long lingering listings that took 327 and 274 respectively, finally sell.  The DOM in the detached home category was 82.5 days, the lone row house took 94 days and the 2 apartment transactions sold in an average of 194 days and were on complete opposite ends of the spectrum with one sale taking 14 days and the other 274 days.

Switching to the overall Calgary market we saw stronger activity continue with 1,437 sales which was 25% higher year-over-year and again marked the highest level of November activity since the peak in 2014.  Many communities and categories are still experiencing inventory shortages and Royal Oak is no exception as mentioned above, these conditions have made this an excellent time to get your property and information organized for a post-holiday launch if you are looking to list and sell your home in early 2021.

We are still in the midst of the new COVID restrictions however showings are still taking place and instead of visiting with friends and family over the break, individuals looking for a new home appear to be spending far more time on their searches and viewing properties.

This entire year has been anything but normal and we are always here to provide you with the information you need, so please don’t hesitate to reach out to us with any real estate questions you may have.

We look forward to hearing from you.

www.myroyaloak.ca

We had another solid month of sales in the community with 9 completed transactions, which continues a rather consistent streak of activity and marks the 4^th time in the past 6 months that 9 sales have been registered.

The biggest difference this month is the level of inventory that continues to plummet and is currently sitting at 16 active listings across all categories which has pushed the community further into seller’s market territory with just under 2 months of available inventory.

A portion of this reduction is seasonal as traditionally many sellers take their properties off the market over the holidays and then re-list in January, however this year we have a higher number of withdrawals and terminations as well a number of potential sellers who have chosen not to enter the market at all given the pandemic and the current restrictions in place.  This has created some very tight conditions and represents a full 180-degree turnaround from what the market was doing during the first wave of COVID this past spring.

Looking closer at the activity, all of the sales were in the detached single family home category and we saw the actual average Days On Market (DOM) drop precipitously from 114.8 days to just 45.0 days due in large part to the fact that 5 of the 9 sales firmed up in 17 days or less.

Switching to the overall Calgary market we saw stronger activity continue with 1,437 sales which was 25% higher year-over-year and again marked the highest level of November activity since the peak in 2014.  Many communities and categories are still experiencing inventory shortages and Lakeview is no exception as mentioned above, these conditions have made this an excellent time to get your property and information organized for a post-holiday launch if you are looking to list and sell your home in early 2021.

We are still in the midst of the new COVID restrictions however showings are still taking place and instead of visiting with friends and family over the break, individuals looking for a new home appear to be spending far more time on their searches and viewing properties.

This entire year has been anything but normal and we are always here to provide you with the information you need, so please don’t hesitate to reach out to us with any real estate questions you may have.

We look forward to hearing from you.

www.mylakeview.net

We saw the sales activity drop dramatically in Lake Bonavista last month as there were just 5 completed transactions falling well short of the 6-month rolling average of 18.3 sales heading into the month.

Despite the limited activity, the level of inventory is still the biggest part of the story in the community with 31 properties currently listed across all categories, that works out to just 1.8 month of available inventory and marks the continuation of the seller’s market conditions that have been in play over the past few months.

A portion of this reduction is seasonal as traditionally a good number of sellers take their properties off the market over the holidays and then re-list in January, however this year we have a higher number of withdrawals and terminations as well as many sellers who have chosen not to enter the market at all given the pandemic and the current restrictions in place.  This has created some very tight conditions and represents a full 180-degree turnaround from what the market was doing during the first wave of COVID this past spring.

Looking a bit closer at the numbers we saw the actual average Days On Market (DOM) drop substantially from 31.7 days to 13.8 days however much of this can be attributed to the fluctuation we tend to see when dealing with such a small group of sales.  The DOM for detached homes was just 6 days as both homes sold immediately and the apartment category was higher but still very healthy coming in at 19 days.

Switching to the overall Calgary market we saw stronger activity continue with 1,437 completed transactions which was 25% higher year-over-year and again marked the highest November sales total since the peak in 2014.  Many communities and categories are still experiencing inventory shortages and Lake Bonavista is no exception as mentioned above, these conditions have made this an excellent time to get your property and information organized for a post-holiday launch if you are looking to list and sell your home in early 2021.

We are still in the midst of the new COVID restrictions however showings are still taking place and instead of visiting with friends and family over the break, individuals looking for a new home appear to be spending far more time on their searches and viewing properties.

This entire year has been anything but normal and we are always here to provide you with the information you need, so please don’t hesitate to reach out to us with any real estate questions you may have.

We look forward to hearing from you.

www.mylakebonavista.net