The strong seller’s market conditions continued as we had 11 sales in the community in February, 7 of which sold over list price! 10 sales were detached single family homes and the remaining transaction was an apartment condominium in the Gateway South Centre complex.
The Days On Market (DOM) numbers were once again very positive as only 3 of the 11 sales spent more than 14 days on the market; the average actual DOM for the detached category was just 18.6 days and the lone condo sale firmed up in only 21 days.
The inventory level remains low with 23 currently active listings which based on the rolling 6-month sales average translates into 1.7 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!