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Calgary’s condo sectors continue to set the pace for the city’s residential resale housing market, which recorded 2,148 sales in September, nearly 12 per cent higher than the same period last year. “September’s sales growth was stronger than expected, due largely to a surge in condominium apartment and townhouse sales,” said CREB® chief economist Ann-Marie Lurie, who credits Calgary’s strong economy and fewer options in the lower-priced single-family market behind the continued demand.

For the fifth consecutive month, year-over-year condominium apartment sales growth outpaced growth in the single-family sector. Year-to-date condominium apartment sales totaled 3,819, a 21 per cent increase over last year. This compares with a seven per cent increase to 13,842 units in the single-family market over the same time frame. Added supply in the condominium apartment sector, meanwhile, is providing more choices. New listings increased by 48 per cent in September over last year and nearly five per cent over last month, further improving inventory levels and pushing this market into balanced territory.

In the condominium townhouse market, sales and listings continued its year-to date trend, rising 20 and 21 per cent, respectively, compared to the same period a year ago. Over the first three quarters, 3,002 units have exchanged hands, relative to the 4,011 new listings. Despite an increase in new listings, the condominium townhouse market continues to be relatively tight, with absorption rates remaining below two months.

“While overall supply levels have improved, the condominium townhouse sector continues to reflect the tightest market conditions in Calgary,” said CREB® president Bill Kirk. New listings in the single-family market similarly increased in September, helping to improve inventory levels above two months. A total of 2,148 units entered the market during the month, a jump of nearly nine per cent compared to the same period last year.

“While conditions are now more balanced, the composition of the single-family market has changed,” said Lurie. “One-quarter of year-to-date sales in the sector has been for product priced below $400,000. Last year, it represented 35 per cent of the market share. Two years ago, it accounted for 44 per cent of all single-family sales.”

The single-family benchmark price topped $512,800 in September, similar to August, but a 10.6 per cent increase year-over-year. Condominium apartment and townhouse benchmark prices grew to a respective $298,800 and $330,200, reflecting gains of more than 9.5 per cent relative to last year.

“Calgary’s housing market throughout the spring favoured the seller, resulting in higher-than-expected price gains,” said Kirk. “Now, a more balanced market is relaxing some of that upward pressure on home prices, and prices are leveling off relative to the previous month. Year-over-year, however, gains are still in the double-digit range.”

Recent price gains have encouraged listings growth and, ultimately, supply in all sectors, said Lurie. “However, citywide inventory levels continue to remain below historical norms, and current demand levels continue to point toward healthy absorption rates,” she said.

Download the full market report here

Are  you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.

About Bryon Howard

Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.

As part of my customer service to my sellers, we ask that our buyers are pre-qualified. We have made it easy for you to get pre-qualified by visiting https://www.mlenow.ca to get step #1 of our process started. In less than 3 clicks you will be on your way to pre-qualifying yourself … and will be closer to your new home!

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Calgary is a big city made up of dozens of individual vibrant communities.  Even though Calgarians enjoy the benefits of everything that a major city can offer, many people live in the suburbs and enjoy a tight knit community within their own neighbourhood.

Establishing self-contained communities in one of the many important initiatives that has become a priority to manage Calgary’s rapid growth.  As the neighbourhoods around the city expand, it is important from a strategic planning perspective that the residents have access to all of their essential amenities close to home.  City planners want to make sure that people can live, go to school and access essential services within a close proximity to home.

If you live within one of these communities, there is no better opportunity to meet your neighbours than participating in one of the local events.  The Community of Huntington Hills has a enough sports and recreation to keep even the most active family on the go.  Figure skating, minor hockey, slo-pitch and lacross are just a few of the sports that are available for a variety of age groups. There are also plans in place to build an outdoor skate park at 64th Ave and Centre St. N.W..

The community lifestyle is appealing for families because it gives them a sense of security.  They have more opportunities to get to know their neighbours then they would in a traditional urban setting.  They are more likely to be actively involved in their kids’ school and everyone is always looking out for each other.

Living in a tightknit community is also appealing for seniors.  The organized events provide many opportunities to socialize and they can volunteer at local events if they are looking to get involved with their community.  The Woodland Creek Community Association offers a bridge club, knitting group, and a senior’s social night every month.  Making friends close by is helpful for whenever they need an extra hand.

The best way to enjoy the community where you live is to become involved with it.  Whether your neighbourhood has an organized board or not, you will always be able to find like-minded people who take an interest in their surroundings and want to collaborate to make it better.

Are  you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.

About Bryon Howard

Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.