The strong seller’s market conditions continued last month and despite the fact we saw only 6 sales in February, 3 of them sold above list price!  3 sales were detached single family homes, 2 were apartment condominiums and there was 1 row house transaction.

The Days On Market (DOM) numbers were once again positive as just 1 sale spent more than 100 days on the market; the average actual DOM for the detached category was just 23.3 days, apartment condominiums were 99.0 days and the lone row house took 38 days to sell.

The inventory level remains low with 21 currently active listings which based on the rolling 6-month sales average translates into 2.9 Month Of Inventory (MOI) and that once again remains 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.mydalhousie.ca

The crazy seller’s market conditions that have recently taken over the detached single-family category continued to gain momentum across the city last month however the sales within the community remained very low and is due entirely to a lack of available inventory.

There were just 3 sales in Dalhousie last month, 1 detached home and 2 row house condominiums which was well below normal, there is still very strong buyer demand however the listings have just not materialized over the past few months.  The ‘actual’ average Days On Market (DOM) numbers came in at 67.0 for the lone detached sale and 22.5 for the 2 row houses transactions.

There are currently only 12 active listings across all property groups in the community which has pushed Dalhousie further into seller’s market conditions with just 1.5 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.mydalhousie.ca

The sales numbers were down slightly from the flurry of activity we saw leading into the end of the year but this was primarily due to a distinct lack of 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 14 active listings across all categories which has pushed Dalhousie even further into seller’s market conditions with just 1.7 months of available inventory.

The affordable single family home category has been the hardest hit as far as shortages are concerned and Dalhousie is no exception with just 2 detached homes under $550,000 currently on the market.  This has created some very tight and competitive conditions 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.

Looking a bit closer at the community numbers we saw the overall ‘actual’ average Days On Market (DOM) drop from 61 to 54 days, the DOM for detached homes was 64.3 days, the lone semi-detached duplex listing took 37 days to sell and the single apartment sale spent 40 days on the market.

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.mydalhousie.ca

The stronger than normal activity continued last month with 9 sales in the community, matching the total from October.  Once again, the biggest part of the story is the level of inventory that continues to plummet and is currently sitting at 17 active listings across all categories which has pushed Dalhousie into full seller’s market conditions with just 1.8 months of available inventory.

A portion of this reduction is seasonal as traditionally a good number of sellers take their properties off the market over the holidays and then re-list in January, however this year we have a higher number of withdrawals and terminations as well as many sellers who have chosen not to enter the market at all given the pandemic and the current restrictions in place.  This has created some very tight conditions and represents a full 180-degree turnaround from what the market was doing during the first wave of COVID this past spring.

Looking a bit closer at the numbers we saw the actual average Days On Market (DOM) increase to 61.1 due in large part to a couple of properties that took over 125 days to sell.  The DOM for detached homes was 67.7 days, semi-detached duplexes were higher at 98.5 days, the lone row house sale took 96.0 days and the apartment category was the lowest of the group at just 18 days with 2 of the 3 sales selling in just 7 days.

Switching to the overall Calgary market we saw stronger activity continue with 1,437 completed transactions which was 25% higher year-over-year and again marked the highest November sales total since the peak in 2014.  Many communities and categories are still experiencing inventory shortages and Dalhousie is no exception as mentioned above, these conditions have made this an excellent time to get your property and information organized for a post-holiday launch if you are looking to list and sell your home in early 2021.

We are still in the midst of the new COVID restrictions however showings are still taking place and instead of visiting with friends and family over the break, individuals looking for a new home appear to be spending far more time on their searches and viewing properties.

This entire year has been anything but normal and we are always here to provide you with the information you need, so please don’t hesitate to reach out to us with any real estate questions you may have.

We look forward to hearing from you.

www.mydalhousie.ca

October was another relatively steady month in the community with 9 total sales, the interesting part of the equation was the property breakdown as we saw just 1 detached single-family home transaction, which is quite low.  The lack of activity in the SFH category is due in large part to a notable lack of inventory as there are currently only 4 detached homes for sale in the entire community.  The remainder of the October sales were comprised of 3 semi-detached duplex properties, 4 condominium apartments and condominium 1 row house.

The overall Days On Market (DOM) numbers dropped again falling from 58.5 days in September to 49.7 last month, the DOM for the lone detached sale was 22.0 days, the semi-detached duplex category was 54.0 days, rowhouses came in at 75.0 days and the apartment category was again the highest of the group at 62.7 days.

The current number of active listings remained relatively static increasing from 22 to 23 which is still quite low, 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 Months Of Inventory (MOI) continued to fall further into seller’s market territory dropping from 2.8 months to 2.6 months currently 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 inventory shortages in the detached category right now and Dalhousie is no exception with just 4 active listings as noted, there is still strong buyer demand out there so if you are looking to list your single family home now would 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.mydalhousie.ca

We had another solid month of sales activity in Dalhousie last month with 11 completed transactions, good enough for the second highest monthly total to-date in 2020 and right on par with the number of sales registered in September of 2019.

The activity was spread fairly evenly across all property categories with 4 detached single-family home sales, 3 semi-detached duplexes, 2 row house condominium transactions in the Tudor Mews complex and 2 apartment condominiums in the Vista View building.  The overall Days On Market (DOM) numbers dropped rather precipitously falling to 58.5 days down from 89.2 last month, the DOM for the detached category was 18.0 days, semi-detached duplex was 54.3 days, rowhouse came in at 35.0 days and the apartment category was the highest of the group at 169.0 days.

The current number of active listings also fell from 29 to 22 properties which is to be expected as we enter into the latter portion of 2020 and the Months Of Inventory (MOI) improved from 4.3 months in August to 2.8 months in September, based on the rolling sales average from the past half year.  The factor to keep in mind with the rolling average is that we have passed what is traditionally the busiest part of the year as far as sales are concerned so the current MOI will likely climb moving forward.

Switching to the overall Calgary market we saw a continuation of the same recent trend with very healthy post-COVID lockdown resiliency as there were 1,702 sales last month which was almost 25% higher year-over-year and marked the strongest September total since 2014.

The real estate recovery after the COVID lockdown is still at very different stages depending on the price range and property type, however overall it has been faster and stretched out longer than expected.  This activity is being fuelled by many factors including historically low interest rates, a dramatic increase in personal savings by individuals not negatively affected by the pandemic and a relative lack of inventory in many categories.

The outlook moving forward is quite difficult to determine at this point and forecasts from pundits and experts are truly all over the map.  Only time will tell what the full ramifications of COVID will be, if a second wave leads to further shutdowns that will affect the market and if these higher sales numbers are the tail end of the pent-up demand or if this is the beginning of some longer term improvement.

As always, we’re here as a professional resource for all our clients and contacts and are more than happy to answer any real estate questions so please don’t hesitate to reach out to us.

We look forward to hearing from you soon.

www.mydalhousie.ca

We finally saw the levee break as far as sales activity is concerned with 12 completed transactions in August making it the busiest month to date in 2020 and the highest total since last October’s 18 sales.  It has been a bit of a rough ride this year in Dalhousie with no other month posting double digit sales and year-to-date just 52 total transactions compared to 74 through the first 8 months of 2019.

Of the 12 sales, 8 were detached single family homes ranging from $380K on the low end to $670K on the upper end, 1 was a residential semi-detached/duplex sale at $356K and the remaining 3 were condominium apartments in the Phoenician and Fortress complexes ranging from $148K-$316K.  

The overall actual Days On Market (DOM) numbers dropped slightly from 94.5 days last month to 89.2 this month, the DOM for detached single family homes was 90.9, the lone duplex spent 102 days on the market and the apartment condominium category came in lower at 80.3 days.  The current number of active listings also fell noticeably from 40 to 29 while the months of available inventory also slipped from a rather high 7.5 months to a much more respectable 4.3 months based on the rolling sales average from the past half year.

Switching to the overall Calgary market we continued to see post-COVID lockdown resiliency with 1,573 total sales down just 7 transactions from August 2019 which is quite positive considering the challenges 2020 has presented.

Looking forward, it will be very interesting to see what the Fall and Winter markets look like after the remainder of the pent up COVID-shutdown demand subsides and the longer-term effects and trends begin to emerge.  Speaking to this, the Financial Post published an article recently regarding mortgage payment deferrals indicating banks believe there is not be a looming ‘Deferral Cliff’, contrary to what other media reports have suggested.

“We’re not looking at seeing a big spike in foreclosures,” Bolger (RBC CFO Ryan Bolger) said at the Barclays conference. “We expect that these mortgages, as they come off the deferral programs, to remain the homes of our clients.”

This echoes sentiments we have had about the deferral period with Canadians’ historically steadfast commitment to hold on to their homes at all costs.  Hopefully, this is the case as a large spike in defaults and foreclosures is never a good thing, for the real estate market, the overall economy or the individual homeowners themselves.

We are always here for all our clients and contacts and are more than happy to answer any real estate questions 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

We saw the community sales activity take a bit of a step back in July which was divergent from a rather busy overall Calgary market and was in stark contrast to the Canada-wide numbers that saw the highest number of monthly sales completed since record keeping first began over 40 years ago!

There were only 6 completed sales last month, down from 9 in June and has been the case for the majority of the year still well below 2019 levels as we had 11 completed transactions last July.  3 sales were detached single family homes, 1 was a row house condominium in the Dalton Square complex and the final 2 were apartment condominiums in The Fortress.   

The overall actual Days On Market (DOM) numbers increased noticeably up to 94.5 days from just over 33 in June, this number was pushed higher by 2 sales that spent 119 and 230 days respectively on the MLS before selling.  The DOM for detached single family homes was 41, the lone row house condominium sale took 119 days as mentioned and the apartment condominium category was much higher 162.5 days.

The current number of active listings remained virtually the same at 40 compared to 43 available properties at the same time last month while the months of available inventory number actually just inverted, increasing to 7.5 months from 5.7 months based on the rolling sales average from the past half year.

Switching to the overall Calgary market we also continued to see improvement as the total number of sales jumped to 1,828 up from 1,747 in June marking the third month of solid gains.

Looking forward, it will be very interesting to see what the post-CERB/mortgage deferral market brings and whether the demand starts to wane or if the stronger numbers continue.  As always, we will continue to monitor the market and keep you updated.

We are always 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

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