You are going to hear a lot about condos after the last Calgary Real Estate Board press release.
I’ll save you the trouble of reading the whole 20 page document and drill down to the numbers for you. What follows is what is notable:
- Total unit sales of homes in the city of Calgary are up just short of 12%
- The increase is broken down like this: Single family homes are up 3.5%, Condos are up 33.33%
- This is the fifth consecutive month that growth in condo sales has outpaced those of single family houses
Other notable numbers within the September month-end report?
- As mentioned sales are up nearly 12%, inventory is up 17%. This should cool any price growth.
- The sales to listing ratio dropped slightly from 69% to 66% supporting my comment above.
- The average price climbed from $454k to $487k, a 7.3% increase.
- The benchmark price is up from $418k to $460k, a 10.25% increase
If you would like the entire package of data, feel free to send me a note, and I will send it to you right away. If you would like more detailed info on your neighbourhood and local market, let me know. I can email you a report monthly, or swing by to do a deeper analysis.