A lack of supply in the condominium market is pushing a huge increase in apartment construction in Calgary right now. What may not be great news for those wanting to move into a condo right now, is great for those willing to wait for a brand new apartment. Demand for condos is huge in Calgary, and our city’s condo market continues to outperform the rest of the country, making it a great investment as well.
Last month in Calgary, construction starts for apartments were up 266% from a year ago, which translates to 597 units from 163 in April last year.
[CMHC] says the resale market for apartments sits in “seller’s” conditions. From Jan. 1 to May 12, there were 977 active resale listings of apartments in Calgary, says the Calgary Real Estate Board. – Calgary Herald
The resale condo market sits in seller’s hands right now, with the average apartment sale price in Calgary at $317,977 right now, an 8% increase from last year.
If you have questions about resale apartments, selling your apartment, or what condo developments are coming up, feel free to contact us anytime. You can also Tweet us anytime.
