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Market Update September 2014

Posted by Arshad Rashed on Wednesday, September 3rd, 2014 at 2:37pm.

Condominium sales set a new record for August while single family sector declines.

Strong gains in the Calgary's condominium apartment and townhouse sectors sparked a 3.4% year over year growth in residential resale housing sales for August. The record pace of sales in the condominium sector is related to the relative affordability combined with the tight rental market and low lending rates. More than 76% of new condo listing are priced below $400,000 and are more than 68% of the total inventory is in the city limits.    

The detached benchmark price for August is $545,238 an increase of 5.42% year-over-year. The apartment benchmark price is $298,200 an increase of 10.20% and the attached benchmark price is $328,300 an increase of 9.98%.  Overall sales for the month totaled 1,477 units, compared with 1,513 during the same period last year.

Call Jeff Campbell 403-275-3331



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