Blog by Cher Ewing

<< back to article list

Calgary Market Stays Hot

Calgary Market Stays Hot

Housing prices went up again in Calgary last month; rising 10 per cent compared to October last year.  New figures from Calgary Real Estate Board show that there were 2147 re-sales with condos continuing to be the biggest driver with a 14 per cent increase year over year.  "Tight rental market conditions combined with low interest rates have supported demand growth for condiminium product in Calgary.", said CREB president, Bill Kirk noting apartment sales have set a year to date record, totalling 4202 units.  "Much of this demand is coming from first time homebuyers and investors."  The heat in the condo market isn't down due to to low supply either; Listings were up 30 percent year over year and there was a net increase in inventory.  Single family units also saw a high growth with a 9.7 percent rise on a year earlier.  Prices are also still trending higher with year over year increases approaching 10 per cent across all property types.

Canadian Real Estate Wealth Magazine