We had a solid June as far as the number of sales are concerned with the month over month community activity mimicking the improvement in the overall Calgary market.

There were 9 completed sales last month, up from 7 in May but still well below the 16 registered in June of 2019.  7 of the transactions were detached single family homes, 1 was a row house condominium in the Dalton Square complex with 1 apartment condominium in the Vista View building rounding out the group.

The overall days on market numbers also improved quite dramatically falling to a healthy 33.1 days for the month led by the detached category that saw every completed sale aside from 1 firm up in under 30 days and 3 in less than 14 days.

The current number of active listings also increased to 43 while the months of available inventory dropped with the positive June results to 5.7 months based on the rolling sales average from the past half year.

Looking at the Calgary market as a whole we once again saw some very solid month over month improvement with 1,747 sales in June compared to just 1,080 in May.  This year’s June transaction total is just 1.58% below the total from June of 2019 which is very positive news.

We’ve seen the total number of showings wane slightly as we move into July which is not out of the ordinary for the summer months, so we will see if the June numbers are an anomaly caused by the pent up demand created as a result of COVID-19 restrictions or if we are in fact seeing some semblance of ‘normality’ returning to 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

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