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Condominium Listings Rise in Calgary

February 2014 experienced a spike in new Calgary condo listings

 
PRLog - Mar. 26, 2014 - CALGARY, Canada -- The past month of February looked very favourably on the Calgary condo market. According to the CREB monthly report, both apartment and townhouse condominiums saw a large increase in new listings. Compared to last year, the Calgary condo market has seen a 28% increase in sales, while the single family home sector has only seen a reduction.

So, what does this mean for you? If you are thinking about selling a condo in Calgary, now is a great time. As a buyer, if you are looking around Calgary, a condominium will be your best bet. Right now, it’s fairly difficult to find a single family home for under $300,000. And if you do happen to find one, it would be wise to act promptly as these type of properties don't stay on the market for long.

According to the CREB report, over half of the condos for sale in Calgary are well-priced, usually below $300,000. This means a buyer has many options to choose from when shopping around for a new place to live.

The market report also pointed out that even though the condominium sector is surging in the city, it’s important to note that it is still not close to reaching peak gains recorded in 2007.

CREB Chief Economist Ann-Marie Lurie points out that the condominium market in Calgary still has room to grow.

“Resale market conditions have favoured the seller, and this has translated into price gains, which is strongest in the condominium sector, says Lurie. “However, it is important to note that condominium prices have not yet risen above previous highs, whereas single family prices recovered last year.”

In the future, we can expect to see Calgary condo listings continuously on the rise, which will relieve some of the pressure in the real estate market.

If you want to find out more about buying or selling a downtown Calgary condo, please contact Karim Hassam at khassam@cirrealty.ca or at 403-689-9594.

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Calgary Urban Living
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Source:Calgary Urban Living
City/Town:Calgary - Alberta - Canada
Industry:Real Estate
Tags:Calgary Condos, calgary market, Seller's market, CIR Realty, Calgary property values
Shortcut:prlog.org/12301008
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