The numbers are in for January and despite a stronger start to the year across the City as a whole we saw a decreased number of sales in Lake Bonavista compared to the same time last year.

There were 7 completed transactions in January, 6 detached homes and 1 apartment condominium which is down roughly 40% from the 12 sales in January of 2019, this is due largely to the fact that the majority of the sales activity in Calgary is occurring under the $500K mark.  This is further illustrated by the lowest sale this past month which was a detached home listed at $475K that sold well over list price.

The Days on Market (DOM) for the entire group are a bit all over the map once again as they are skewed upward by the two higher priced detached home sales that took 299 and 216 days respectively to sell.  With these comparables removed from the mix the DOM is a much lower 13.8 days which is on the other end of the spectrum and not necessarily market indicative with 46 properties currently active; 29 detached homes and 17 apartment condominiums.

Looking ahead we anticipate the sales numbers will increase as they generally do with the arrival of warmer weather…so anywhere between now and May!

Let us know if you are thinking of making a move or if you would simply like to know the current market value of your home, we would be happy to complete a complimentary professional property evaluation.

For a closer look at all of the active inventory in Lake Bonavista please click on the link below.

www.mylakebonavista.net

We saw another marked decrease in activity over the past month which was entirely expected as this is usually the script over the Christmas season.  There were 6 total sales in the community in December, 5 detached home sales and 1 apartment condominium sale which is almost identical to what we saw in December 2018 with 7 total sales (5 detached homes and 2 apartments).

The Days on Market (DOM) for the entire group are a bit mis-leading once again as they are skewed higher by one detached property that took 277 days to sell and ended up reducing their list price by $100,000.  With this property removed from the statistical breakdown the DOM is a much healthier 30.2 days which is in our opinion far more indicative of the current market conditions within the neighbourhood.

heading into 2020 most indicators point to a cautiously positive outlook that should lead to continued stabilization across many property categories and areas with some pundits even forecasting the possibility for slight growth…yes price growth in some sectors.  This is welcome news for a market that has experienced steady downward pressure for the better part of the past 5 years.

Let us know if you are thinking of making a move or if you would simply like to know the current market value of your home and we would be happy to complete a complimentary professional property evaluation.

For a closer look at all of the active inventory in Lake Bonavista please click on the link below.

www.mylakebonavista.net

November marked the beginning of the official ‘slow season’ for real estate activity in Lake Bonavista as we saw the lowest sales number in the past 8 months with just 10 completed transactions.  This mimics the activity we saw a year ago as there were 11 total sales in November of 2018 and virtually the same property breakdown as well with 8 detached home and 2 apartment ends last month compared to 8 detached home and 3 apartment sales last year.

The Days on Market (DOM) for the entire group remained close to what we saw last month coming in at 76.8 days however it was also somewhat artificially inflated by a single property that spent 285 days on the market this year.  When this one lingering listing is removed from the statistical group the DOM drops to 54.7 days which is a number that is far more indicative of the current market conditions.

One interesting takeaway from the November numbers is the sale to list price ratio of the 5 detached homes between $495K and $830K as they fared rather well with 4 sales settling out between 0.8%-2.0% below list price and 1 property selling for 4% ($30,000) above list price.

Heading into to the holiday season and the grip of winter we expect to see a continuation of lower sales numbers however combined with lower inventory numbers the market appears to be set up nicely for a strong start to 2020.

Let us know if you are thinking of making a move or if you would simply like to know the current market value of your home and we would be happy to complete a complimentary professional property evaluation.

For a closer look at all of the active inventory in Lake Bonavista please click on the link below.

www.mylakebonavista.net

The brisk pace of sales activity in the community slowed slightly last month as we had 12 completed transaction as compared to 15 in September, while year over year the activity was up 34% from the 9 sales registered last October.

The overall Days on Market (DOM) for all listings jumped quite dramatically from the previous month going from 55.0 to 72.2, however this number was artificially inflated by 2 listings that spent 245 and 195 days respectively on the market.  When these anomalies are taken out of the equation the DOM actually drops to 42.6 days, which is more indicative of the current market conditions.

The inventory level continues to decline with 40 active properties compared to 44 in September and as we head into the winter months that number should continue to decline.  Based on the rolling 6-month community average there is currently 2.3 months of available inventory, interestingly the number of active listings was only slightly higher (41) at the same time last year but with a much lower sales rate it translated into 4.6 months of inventory.

Overall, we continue to see steady improvement and elevated levels of activity in many categories recently so hopefully the trend continues and translates into a healthy winter market.

Let us know if you are thinking of making a move or if you would simply like to know the current market value of your home and we would be happy to complete a complimentary professional property evaluation.

For a closer look at all of the active inventory in Lake Bonavista please click on the link below.

www.mylakebonavista.net

September brought with it some rather horrendous weather with another ‘Snowtember’ event, but it also brought another solid sales month in the community with 15 completed transactions.  This continues a strong run of resale activity over the past 6 months and marks a 67% increase over the 9 sales registered last September.

The overall Days on Market number for all listings was a respectable 55 days which is lower than recent months as there were only 2 properties that spent more than 100 days on the market.  The detached sales came in lower at 47 days while the condominium apartment sales trended higher at 77 days.

The inventory also slipped slightly to 44 active properties down from 48 last month which works out to 2.51 months of supply based on the running 6-month community average.  As mentioned last month we are however heading into the colder season which generally sees a slow down in resale activity.

Despite the positive numbers in the community, the market as a whole is still feeling the effects of the lingering economic downturn so impactful events like the upcoming federal election and the beginning (or further delay) of the Trans-Mountain pipeline construction will go a long way to determining the mood of the market.

Let us know if you are thinking of making a move or if you would simply like to know the current market value of your home and we would be happy to complete a complimentary professional property evaluation.

For a closer look at all of the active inventory in Lake Bonavista please click on the link below.

www.mylakebonavista.net

We had a stellar end to the ‘official’ summer market in August and had the highest number of completed transactions in the past year with 22, consisting of 18 single family home sales and 4 apartment condominium sales.

There were a number of properties that had lingered on the market for months and months that finally sold which increased the monthly Days On Market (DOM) numbers, these were largely in the higher price bracket while the majority of the more affordable homes under the $600K mark sold rather quickly

The large number of sales also took a good bite out of the active inventory which is sitting at 48 down from 60 last month which has also translated into a reduction in the months of available inventory number which is currently at just 2.91 months based on the running 6 month community sales average.  One note to keep in mind however is that we have passed what are traditionally the busiest months of the year so with the exception of an anticipated solid September and October, the sales numbers will begin to fall when the white fluffy stuff arrives.

The slow and steady mantra continues to hold true across the city with higher sales numbers and lower new listings, however there is a distinct market split as most of the improvement is for homes priced under the $500k mark.

There are a lot of moving pieces that make up the health of the real estate market and the economy in general and if we continue on the track we’re on the market should continue to move closer to balanced conditions.

Let us know if you are thinking of making a move or if you would simply like to know the current market value of your home and we would be happy to complete a complimentary professional property evaluation.

For a closer look at all of the active inventory in Lake Bonavista please click on the link below.

www.mylakebonavista.net

We saw a slight step back in July compared to what was a stellar June but still positive numbers overall.  There were 17 completed transactions in the Stampede month with 11 detached home sales, which was down from 16 in June and 6 apartment condominium sales, up from just 3 the month before.

The number of active listings took a turn with 60 active properties on the MLS compared to 52 which based on the running sales average from the past half year works out to a slightly higher 4.19 months of available inventory.

The average Days on Market (DOM) numbers for the sold properties decreased which is nice to see coming in at 68.88 days for all sales although we still had a few sold properties spend over 100 days on the market, 1 detached home sale and 3 of the 6 apartment condominium sales.  Looking at each category the detached single-family home DOM was 56.91 days and apartment condominiums came in under 100 days for the first time since April at 90.83 days.

Overall in Calgary we are still seeing numbers trend in the right direction compared to the same time last year with total MLS sales up by 6.4% for the month and the active inventory down by a fairly large margin at 17.3%.  The oversupply has continued to slowly ease and is keeping a bit of a lid on price decreases however pricing levels are still just under 4% lower across all property categories compared to 2018.

I know we run the risk of sounding like a broken record (large round vinyl things with grooves that play music for anyone under 35) but despite some gradual improvement in the sales numbers year over year, sellers must continue to be extremely competitive and realistic with both list prices and expected final sale prices and on the buyer side, solid value opportunities are still plentiful.

Let us know if you are thinking of making a move or if you would simply like to know the current market value of your home and we would be happy to complete a complimentary professional property evaluation.

For a closer look at all of the active inventory in Lake Bonavista please click on the link below.

www.mylakebonavista.ca

We had another solid month in June with the highest number of sales in the past 10 months and we also saw a decent drop in active inventory to go along with it. There were 19 completed transactions in June, 16 detached home sales and 3 apartment condominium sales.

As mentioned, the number of listings fell compared to last month as there are currently 52 properties for sale in the community which based on the running sales average from the past half year works out to 3.85 months of available inventory…a number that is certainly trending in a healthier direction.

The average Days on Market (DOM) numbers for the sold properties hovered somewhat around the same levels as last month with the detached homes trending higher and the apartments heading slightly lower. The average DOM for the apartments is still high overall coming in at 128.67 days down from 139.67 in May while the DOM for the detached homes was 76.31 days up from 49.13 last month as it seemed the homes either sold in very short order or lingered for months.

The slow and steady mantra continued in June across the City and even with a 6% decrease in the number of sales compared to last year we saw some positive larger picture numbers with a 19% reduction in the number of new listings and a 13% decrease in the amount of active inventory. The oversupply has continued to ease and is slowing the decline in prices, if this trend continues it will ultimately lead to a more balanced Calgary market.

As we have indicated for the past number of months sellers must continue to be extremely competitive and realistic with both list prices and expected final sale prices and on the buyer side, good value opportunities are still plentiful.

Let us know if you are thinking of making a move or if you would simply like to know the current market value of your home and we would be happy to complete a complimentary professional property evaluation.

For a closer look at all of the active inventory in Lake Bonavista please click on the link below.

www.mylakebonavista.ca

Coinciding with a slow and steady improvement with the year over year sales numbers for Calgary as a whole, we have also seen continued improvement in the Lake Bonavista numbers with 18 completed transactions compared to 14 in April.  Detached home sales increased from 10 to 15 while apartment sales dropped just slightly from 4 last month to 3 in May.

The overall monthly Days on Market (DOM) number was higher this month which was once again strongly influenced by the high apartment DOM numbers…however the more important stat was the inventory level which inched lower and the current active inventory that dropped sharply from 6.29 months of supply to 5.39 based on the running 6 month average.

As mentioned, we saw an uptick for the second straight month in year over year transactions in Calgary with 1,937 this May compared to 1,733 in May of 2018.  We have also seen the new listing numbers come down so hopefully the market stays on track and this marks the beginning of the long-awaited recovery.

We have a way to go to get back to balanced conditions so sellers must continue to be very realistic with pricing while excellent value is still out there for active buyers.

Let us know if you are thinking of making a move or if you would simply like to know the current market value of your home and we would be happy to complete a complimentary professional property evaluation.

For a closer look at all of the active inventory in lake Bonavista please click on the link below.

www.mylakebonavista.ca

We had another strong month for sales in the community with 14 completed transactions which is also the most sales in a calendar month in the past half year…promising news overall.  The inventory continues to creep up but only slightly with 65 current listings compared to 59 last month which works out to 6.29 months of available inventory, a number that still leaves us in buyer’s market territory despite the increase in sales.

We made one deletion when calculating the Days on Market (DOM) numbers for the sold properties by removing one apartment sale that spent a whopping 417 days on the MLS as it drastically skewed the apartment DOM from the 50.33 posted to 142 days, which is not indicative of the current market conditions.  The overall DOM numbers dropped slightly with the high listing removed coming in at 38.46 days compared to 45.89 in March.

When looking at Calgary as a whole we continue to see positive signs with higher year over year sales numbers accompanied by lower new listing numbers, a trend that we hope continues as we work towards more balanced market conditions.

While we are on the road to stabilization, sellers must continue to be extremely competitive and very realistic with both list prices and expected final sale prices and on the buyer side of the ledger excellent value opportunities still exist.

Let us know if you are thinking of making a move or if you would simply like to know the current market value of your home and we would be happy to complete a complimentary professional property evaluation.

For a closer look at all of the active inventory in Lake Bonavista please click on the link below.

www.mylakebonavista.ca

The fairly strong start to the 2019 real estate market in Lake Bonavista continued in March with some fairly solid numbers once again…nothing off the charts but holding their own as we wade through this market.

The overall Days on Market (DOM) numbers were rather interesting once again as we saw 7 of the 9 completed sales come in under the 30 day mark with 3 actually selling in less than 14 days and on the other end of the spectrum we saw the DOM numbers skewed higher by the 2 remaining sales that took 120 and 174 days respectively.

The inventory in the community has increased since last month with 57 current listings, which is to be expected as we are now into the spring market and that generally marks the beginning of our highest inventory period of the calendar year.  Based on the rolling sales average there is currently 6 months of available inventory which is still high.

On a positive note, the market has shown some signs of stabilization across Calgary as the year over year new listing numbers have dropped across the board and over the past few weeks we have also seen stronger sales numbers in some categories as well, again hopefully a scenario that continues and puts things back on the road to a balanced market.

As was the case in our last update, Lake Bonavista sellers still need to be extremely competitive and bluntly realistic with both list prices and expected final sale prices and on the buyer side of the scale, opportunities continue to present themselves while we are at a low point in the market.

Let us know if you are thinking of making a move or if you would simply like to know the current market value of your home and we would be happy to complete a complimentary professional property evaluation.

For a closer look at all of the active inventory in Lake Bonavista please click on the link below.

www.mylakebonavista.ca

Despite a very chilly month of February that saw many buyers hibernate and stay home, the sales numbers remained relatively healthy to continue what has been a decent start to 2019.

The overall Days on Market (DOM) number crept higher last month, however it is primarily due to one apartment sale that had been listed for a total of 367 days, without this property in the mix the monthly DOM number would be a very respectable 59.13 days.  The inventory level also increased slightly since the beginning of the month with 48 listings currently on the market which works out to 5.05 months of available inventory based on the rolling 6 month community average.

The numbers in Lake Bonavista remain steady although not spectacular; we have seen a number of zero-day sales where properties have sold before hitting the public MLS or had buyers coming to the table immediately while others that have continued to linger on the market.

So what do these numbers mean to you?  They mean that depending on what type of property you are looking to sell or buy the marketplace can vary drastically.  If you are thinking of making a move don’t hesitate to contact us and we will provide you with the insight and advice you need to navigate the community marketplace.

Additionally, if you would simply like to know the current market value of your home and we would be happy to complete a complimentary professional property evaluation or you.

For a closer look at all of the active inventory in Lake Bonavista please click on the link below.

www.mylakebonavista.ca

The Lake Bonavista Christmas Craft Fair is just around the corner and provides the perfect opportunity to discover unique holiday gift giving ideas and support local businesses and artisans.

The event goes on Saturday and Sunday, November 17 and 18 from 9 AM until 3 PM both days and takes place at the Lake Bonavista Community Centre, 1401 Acadia Drive SE.

The Craft Fair promises to be a huge event and tables for crafters and home-based businesses are currently all full but you can register for the waiting list if you are interested in taking part and showcasing your own cool craftiness by visiting: http://bit.ly/LBCASignUp

See you at the LBCA in November!

If you have stepped on LEGO for the very last time and are looking to turn those stealthy jagged gems into cash you are in luck as the Lake Bonavista Community Association is holding a Used Toy & Clothing Sale in September and registration is now open.

Used children's sales are a great way to replenish your wee one's wardrobes, update their toys...and most importantly clean out their closets!  

To register for the sale just click on the link below to go to the events page on the Lake Bonavista Community Association website or if you are just looking to attend and shop then mark it on your calendar!

Saturday, September 23

10:30 AM - 1:30 PM

Lake Bonavista Community Centre

1401 Acadia Drive SE

LAKE BONAVISTA COMMUNITY ASSOCIATION EVENTS PAGE

Welcome to my Lake Bonavista!

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

The answer is simple...because there wasn't one!  The goal of My Lake Bonavista 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 Lake Bonavista 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 myLakeBonavista Facebook Page...we'd love to hear from you!