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!