We had an absolutely crazy month in March registering a whopping 28 sales, 9 of which sold at or above list price!  This has been the busiest sales month in quite a long time in the community and has pushed things even further into seller’s market territory.

The Days On Market (DOM) numbers tracked slightly higher than February but this was influenced largely by a handful of listing that lingered on the market for extended ‘triple-digit’ periods of time.  The DOM came in at 41.5 for the entire sales group, detached single family homes fared the best at 27.5 days followed by the rowhouse category at 46.0 days with apartments landing much higher at 121.3 days.

The inventory level actually decreased with just 23 currently active listings which based on the rolling 6-month sales average translates into just 1.7 Months Of Inventory (MOI) which is down notably from 2.3 months in February.  As mentioned above, the community is firmly entrenched in a strong seller’s market.

Looking at the overall Calgary market things are bustling to say the least with 2,903 completed sales marking the busiest March since 2007. Inventory levels pushed just above 5,400 total listings but the citywide MOI fell below 2 months marking the lowest months of supply since 2014 which has led to price gains in many categories.

As has been the case for the past few months, if you are currently searching for a home make sure you are working with a Realtor who can get your through properties as soon as they come on the market and prepare to encounter a competitive marketplace.  If you are thinking of selling, this is an excellent time to list your home and take advantage of the lower inventory and continued strong demand.

Don’t hesitate to reach out to us for a free comprehensive market evaluation on your property or to set up a professional property search.

We look forward to hearing from you!

www.myroyaloak.ca

The strong seller’s market conditions continued as we had 12 sales in the community in February, 5 of which sold at or above full list price!  7 sales were detached single family homes, 3 were row house/semi-detached properties and 2 sales were apartment condominiums.

The Days On Market (DOM) numbers were once again very positive as 8 of the 12 listings took less than 14 days to sell; the average actual DOM for the detached category was an incredibly low 8.7 days, the row house/semi-detached was 86.3 days and apartment condominiums came in at just 10.0 days.

The inventory level remains low with 25 currently active listings which based on the rolling 6-month sales average translates into 2.3 Month Of Inventory (MOI) and that once again remains firmly entrenched in seller’s market territory.

Looking at the overall Calgary numbers it was more of the same as 1,836 sales were registered which was up a staggering 54.3% year over year, inventory was down 20.4% at 4,518 and the MOI for all categories was down 48.4% to 2.4 months.

Once again, if you are currently searching for a home make sure you are working with a Realtor who can get your through properties as soon as they come on the market and prepare to encounter a competitive marketplace.  If you are thinking of selling, this is an excellent time to list your home and take advantage of the lower inventory and continued strong demand.

Don’t hesitate to reach out to us for a free comprehensive market evaluation on your property or to set up a professional property search.

We look forward to hearing from you!

www.myroyaloak.ca

The seller’s market conditions that have recently taken over the detached single-family category continued to gain momentum last month with 7 completed sales.

Detached homes accounted for the majority of the activity with 6 sales to go along with 1 row house condominium transaction, the exact same breakdown that we saw in December as well.  The ‘actual’ average Days On Market (DOM) numbers came in at 56.5 for SFH detached homes although this was skewed higher by one property that spent 182 days on the market, and the lone row house sale took 135 days to firm up.

There are currently only 22 active listings across all property groups in the community and the seller’s market conditions continue in Royal Oak with 2.6 months of available inventory.

Switching to the overall Calgary numbers, the story was much the same with 1,208 completed sales last month which once again marked an increase of just over 40% year over year.

If you are currently searching for a home make sure you are working with a Realtor who can get your through homes almost as soon as they come on the market and prepare to encounter a very competitive marketplace.  If you are thinking of selling in 2021 this is an excellent time to list your home and take advantage of the limited inventory and strong buyer demand.

Don’t hesitate to reach out to us for a free comprehensive market evaluation on your property or to set up a professional property search.

We look forward to hearing from you!

www.myroyaloak.ca

The sales numbers were down slightly from the flurry of activity we saw leading into the end of the year but this was due in large part to a relative lack of affordable available inventory rather than a slowdown in the market or a decrease in buyer demand.  This shortage of properties remains at the forefront of the discussion as there are currently just 23 active listings across all categories which means Royal Oak is still in a seller’s market with only 1.7 months of available inventory.

The affordable single family home category has been the hardest hit as far as shortages are concerned and Royal Oak is no exception with just 3 detached homes under $550,000 currently on the market. This has created some very tight and competitive conditions in this range as buyer demand remains very strong due to a number of factors, most notably the historically low sub 2% interest rates being offered right now.

The luxury market in the community also mimics the conditions we see in many other areas as there is greater supply and overall a lower level of buyer demand compared to the more affordable range.

Looking a bit closer at the community numbers we saw the overall ‘actual’ average Days On Market (DOM) drop significantly with no apartment condominium sales during the month, falling from 94.7 days to 38.7 days.  The totals for the individual properties ranged quite drastically from just 5 days on the low end to 113 days on the high end for the lone luxury row house listing.

Switching to the overall Calgary market, the story was much the same with 1,199 completed sales last month which is an incredible 40.1% higher year over year and marks the busiest December since 2007.

Given the state of the market at the moment this is an excellent time to list your home, if you are thinking of selling in 2021 don’t hesitate to reach out to us for a free comprehensive market evaluation on your property.

We look forward to hearing from you!

www.myroyaloak.ca

We had another solid month of sales in October with 15 completed transactions which is 15% higher than what we saw last year over the same period and almost exactly in line with the average monthly community sales totals since early summer.  The relatively low level of active listings in Royal Oak is the real story over the past few months and it has continued that way as there is currently less than 2 months of available inventory on the market which puts things firmly into seller’s market territory.

The breakdown of sales last month was 9 detached single family homes matching September’s total, 2 condominium row houses and 4 condominium apartments all in the Red Haus complex.  The overall Days On Market (DOM) numbers remain healthy compared to the overall city averages coming in at 35.3 days, the DOM for detached sales was 28.4 days, row houses came in at 35.5 days and the apartment category was the highest of the group at 50.8 days.

The number of active listings is relatively low as indicated with 28 properties currently on the market, this is in step with seasonal trends as we enter the colder months however it has been further dampened by the rise in COVID cases as some sellers are simply not comfortable having their homes on the market at this time.  The current Months Of Inventory (MOI) continues to fall further into a seller’s market coming in at just 1.9 months based on the rolling sales average from the past half year.

Switching to the overall Calgary statistics we saw a continuation of the recent trend from the past few months with very healthy numbers as there were 1,764 sales which was 23% higher year-over-year and marked the strongest October total since the peak of the market back in 2014.  Many communities in Calgary are experiencing relative inventory shortages right now and Royal Oak is no exception with just 1.9 months of available inventory as noted, there is still healthy buyer demand out there so if you are looking to sell your property now may be a good time to consider it.

The recent drastic rise in COVID cases in the city and the province has definitely affected the real estate market but not in the same way we saw things play out this spring when everything was shut down as we continue to see higher than normal showing activity and the increased sales numbers to go along with it.

As always, we’re here as a trusted professional resource and are more than happy to assist you with your real estate needs whether you are selling or buying and to answer any questions you may have, so please don’t hesitate to reach out to us.

We look forward to hearing from you soon.

www.myroyaloak.ca

Welcome to My Royal Oak!

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

The answer is simple...because there wasn't one!  The goal of My Rpyal Oak 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 community 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 My Royal Oak Facebook Page...we'd love to hear from you!