Life is returning to some semblance of normal in our everyday lives and things have also started to return to ‘normal’ in the real estate industry as the May community sales statistics are finally headed in the right direction, albeit very slowly.

We saw 4 completed transactions in Lakeview last month which is up just slightly from 3 in April but still well below the 10 sales registered in May of 2019.  The range of sales was certainly all over the map with 2 sales in the Lakeview Green I complex that were over $100K apart and 2 detached single family home sales, one in the high $400K’s and the other just over $2M.

The days on market numbers increased just slightly to 102.8 days overall but they were again skewed higher by the $2M Lakeview Village sale that not only took almost 300 days to sell this time but has been on and off the market for the past 3 years.

The current level of available inventory inched slightly lower with 23 currently active listings and the months of available inventory nudged just higher increasing from 4.4 in April to 4.6 months in May.

Looking at the market as a whole many buyers have come back to the table after the drastic slowdown triggered by the onset of COVID-19 as the showing activity numbers surpassed the 2019 levels last week for the first time since mid-March…this is most definitely welcome news.

Sales activity is however still well below normal levels and low oil prices and a slow economic recovery are lingering but there is hope that the pent up demand for those buyers and sellers who put the brakes on their plans during the height of the pandemic will continue to re-enter the fray and help bolster the market.

As always, we will continue to monitor the market and the phased re-opening of the Alberta economy and keep you updated going forward.

We are here for you and all our clients and contacts and are more than happy to answer all of your real estate questions and concerns so please do not hesitate to reach out to us with any questions you may have.

We look forward to hearing from you soon.

www.mylakeview.net

Life is returning to some semblance of normal in our everyday lives and things have also started to return to ‘normal’ in the real estate industry as the May community sales statistics are finally headed in the right direction.

We saw 7 completed transactions in Dalhousie last month which is up from just 3 in April but still below the 9 sales registered in May of 2019.  The majority of the sales were detached single family homes accounting for 5 transactions with one row house condominium sale in the Dalton Square complex and one apartment condominium sales in the Vista View building rounding out the group.

The average days on market numbers dropped to a respectable 51.9 days, falling dramatically from 143.7 the previous month, however as you recall the April numbers were skewed higher by a small sample group with one property that languished on the MLS for 300 days.

The current number of active listings saw the biggest jump increasing 42% to 37 properties while the months of available inventory came in at 7.9 based on the rolling sales average from the past half year.

Looking at the market as a whole many buyers have come back to the table after the drastic slowdown triggered by the onset of COVID-19 as the showing activity numbers surpassed the 2019 levels last week for the first time since mid-March…this is most definitely welcome news.

Sales activity is however still well below normal levels and low oil prices and a slow economic recovery are lingering but there is hope that the pent up demand for those buyers and sellers who put the brakes on their plans during the height of the pandemic will continue to re-enter the fray and help bolster the market.

As always, we will continue to monitor the market and the phased re-opening of the Alberta economy and keep you updated going forward.

We are here for you and all our clients and contacts and are more than happy to answer all of your real estate questions and concerns so please do not hesitate to reach out to us with any questions you may have.

We look forward to hearing from you soon.

www.mydalhousie.ca

As you can likely imagine, real estate continued to limp along last month mired in the economic slowdown and slump that is COVID-19. The sales numbers for April are in, which was the first ‘full month’ that physical distancing measures were in place, and across Calgary we saw a 63% drop from the same period last year with only 573 completed transactions.

Looking at Dalhousie specifically sales were down 50% compared to April of last year as there were 3 completed transactions, 2 detached single family homes and 1 apartment condominium in the Phoenician complex.  The actual days on market numbers were once again skewed by the small group and came in at a bloated 143.7 days as the properties spent 15, 116 and 300 days on the market respectively.

Despite all the low sales numbers and gloomy details there is one very important statistic that has shown substantial improvement recently and that is the number of showings being booked by prospective buyers.

Looking at the chart you can see that this weekend marked the first time since the beginning of the pandemic that the showing activity has risen past the benchmark ‘first week of the year’ activity level.  We feel this is a very important achievement that will hopefully mark the beginning of the real estate activity recovery and an upward trend that will continue moving into the phased re-opening of the Alberta economy, of course barring any major setback.

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 as they come.

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

As you can likely imagine, real estate continued to limp along last month mired in the economic slowdown and slump that is COVID-19. The sales numbers for April are in, which was the first ‘full month’ that physical distancing measures were in place, and across Calgary we saw a 63% drop from the same period last year with only 573 completed transactions.

Looking at Lakeview specifically sales took an even steeper hit with an 80% decrease from April of last year as there were just 3 completed transactions; 1 detached single-family home and 2 row house condominiums.  The actual days on market numbers were skewed by the small sample group and came in at a bloated 104 days as the properties spent 14, 60 and 238 days on the market respectively.

Despite all the low sales numbers and gloomy details there is one very important statistic that has shown substantial improvement recently and that is the number of showings being booked by prospective buyers.

Looking at the chart you can see that this weekend marked the first time since the beginning of the pandemic that the showing activity has risen past the benchmark ‘first week of the year’ activity level.  We feel this is a very important achievement that will hopefully mark the beginning of the real estate activity recovery and an upward trend that will continue moving into the phased re-opening of the Alberta economy, of course barring any major setback.

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 as they come.

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.mylakeview.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

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

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

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

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

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 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

Coinciding with a slow and steady improvement with the year over year sales numbers for Calgary as a whole, we have also seen some improvement in the Dalhousie numbers with 9 completed transactions compared to 6 sales in 3 of the last 4 months.  Detached home sales slipped from 4 in April to just 2 in May however we saw improvement in all other property categories.

With much of the long standing inventory finally coming off the market and with the wide variance we can see with these smaller sample groups we have some inflated average Days on Market (DOM) numbers this month; 4 of the 9 sales spent over 130 days on the market with the longest listing hitting 228 days.

The inventory finally showed some improvement as well, there are currently 47 properties listed compared to 51 last month which works out to a 5.83 sales per month average over the past 6 months and puts the current active inventory level at 8.06 months based on this running sales 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 Dalhousie please click on the link below.

www.mydalhousie.ca

April was almost a carbon copy of March as we had 6 completed sales in the community once again, the days on market numbers improved dramatically as 4 of the 6 sales finalized in 22 days or less with the longest days on market coming in at a respectable 52 days.  4 of the sales were detached single family homes once again to go along with 1 row house sale (5400 Dalhousie) and 1 apartment sale (Vista View); we had no semi-detached/duplex sales during the month.

The active inventory level also increased slightly from 42 to 51 properties as we continue to see the spring market build…hopefully to be accompanied by some healthier sales numbers in the months to come.  Based on the rolling average from the past 6 months, which now sees the high October sales numbers drop out of the range, there is currently 9.86 months of inventory on the market which is still very much slanted in the buyers’ favour.

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 Dalhousie please click on the link below.

www.mydalhousie.ca