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 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

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

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

Welcome to my Lake Bonavista!

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

The answer is simple...because there wasn't one!  The goal of My Lake Bonavista 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 Lake Bonavista 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 myLakeBonavista Facebook Page...we'd love to hear from you!