Calgary's residential market continues to hold strong with high sales number. The condominium apartment and townhouse sectors saw the biggest gains, increasing by nearly 14 and 20 per cent, respectively. As pricing has moved up, those in the lower price points are moving to condo property vs single family as single family prices rise and less are available in the lower price points. It makes sense that townhomes are seeing a strong demand as many folks that would otherwise purchase single family homes are now looking at townhomes.
Pricing for single family homes remain at pricing similar to the previous month. Year over year pricing is still over 10% higher than this time last year.
Some major City announcements to watch include the ongoing discussion regarding secondary suties. The City of Calgary Council will be reviewing requirements and zoning for secondary suites this month. A big issue and currently a very political one as well.
As well, yesterday, Council approved the West Campus Development by the University of Calgary. This large new community still has many steps forward but very little contention on approval means they are well on their way. - Project Details for West Campus
If you wish detailed information regarding various market segments visit the CREB Statistics Info Page or give me a call at 403 850 2446.