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!