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.

www.mydalhousie.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

The slow start to the year here in Dalhousie continues as we had just 3 completed sales in the month of February…and the properties that did sell had been listed on the market for a very loooong time.

As a result the Days on Market (DOM) number is rather skewed this month, coming in at a bloated 360 days with the 3 sales having been listed for 293, 177 & 610 (yes, not a typo…610!) days respectively.

The good news is the overall inventory has remained steady with 31 active properties which is good news at this point. Depending on what date range you take into account, the months of available inventory number varies dramatically.  When you look at the past 6 months there was an average of 8.17 properties sold per month which would work out to 3.79 months of available inventory which isn’t to shabby but when you look at the slow sales over the past 3 chilly months there were just 4.67 sales per month which would then work out to 6.64 months of available inventory which would point to a firm buyer’s market.

We by no means have a crystal ball to rely on however our feeling is that there is likely a happy medium between the 2 and we should start to see some additional activity with the arrival of warmer weather (finally) and the emergence of previously hibernating buyers.

So what does these numbers all mean to you?  They mean that sellers in Dalhousie still need to be extremely competitive and starkly realistic with their list prices and expected final sale prices and on the other end of the spectrum options continue to abound for buyers looking to call our community home.

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