We have seen some improvement in the Dalhousie real estate market compared to February with 6 completed sales this past month, the uptick was expected and with the arrival of warm weather we expect to see the trend continue.
The days on market numbers are again quite interesting as we had 3 very quick sales that were completed in less than 21 days while the other 3 sales averaged 164 days on the market so both ends of the spectrum were represented in March. 4 of the sales were detached single family homes and the other 2 were duplex properties; we had no row house or apartment sales during the month.
The inventory also rose and is currently sitting at 42 properties right now…again this is to be expected as the spring market officially begins which generally marks the beginning of our highest inventory period of the calendar year. Based on the rolling sales average from the past 6 months this works out to 6.15 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, Dalhousie 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 Dalhousie please click on the link below.