CREB reported earlier this week that the housing supply in Calgary was experiencing a tightened supply, which was affecting the number of homes sold. However, the condo market has not seen this trend at all, quite the opposite in fact.
CREB news release:
The condominium townhouse market is the only category to record a year-over-year rise in sales activity for the month. This is in part because the level of new listings improved in March 2013 relative to March 2012. Condominium year-over-year apartment sales declined by nearly three per cent in March.
However, after the first quarter, sales activity totaled 830 units a 6 per cent increase over the previous year. Condominium townhouse sales totaled 652 units at the end of the first quarter, a 15 per cent increase over the previous year.
The condo apartment market in Calgary is balanced: there is a better supply available to buyers, and it is still a very affordable option.
The benchmark apartment price rose 6% from last year, to $257,700. The townhouse benchmark price rose 4% from last year, to $286,800.
If you’re looking to buy or sell a condo, please contact us.
