Demand for Calgary Condos Increases. What’s Next for Prices?
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Calgary Apartment Condo Market Update
The Calgary apartment condominium market is experiencing some interesting shifts! While October sales rose compared to last month, this marks the fifth consecutive month with year-over-year declines. However, with 6,782 sales so far in 2024, the market remains strong, nearly doubling the average sales of the previous decade.
Key Highlights in This Update:
📈 Sales Trends: Demand for apartment condos remains high due to higher lending rates, rising rents, and limited affordable options.
🏠 Inventory: October inventory increased compared to last year, especially in the $300,000 - $500,000 range, helping to balance conditions in that price range.
💰 Prices: The benchmark price for apartment condos reached $341,700, down slightly from last month due to seasonal factors but still 11% higher than last October.
🏗️ New Construction Impact: Areas with new construction and completed projects have seen a slight impact on resale activity, contributing to a marginal price decline this month.
With inventory expanding in higher price ranges and some price stabilization occurring, Calgary’s apartment market is showing signs of balance while still providing strong year-over-year gains. Watch the full video for an in-depth look at the factors driving Calgary’s condo market!
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📚 Video Chapters 📚
00:00 - Price Update for Condos in Calgary
00:58 - Adam Fyfe, Calgary Realtor
01:36 - Overview of the Calgary Apartment Market
03:33 - Increased Demand in the condo market here in Calgary
04:24 - Year to date Condo Apartments in Calgary
06:07 - Where are all the condo sales in Calgary?
07:09 - Condo for sale in Calgary - how much?
08:00 - Comparing Apartment Sales in Calgary to last year
09:49 - Calgary Apartment market slowing down
12:32 - How much is your condo apartment in Calgary?
13:15 - How much are condos in Calgary?
14:41 - Apartment price breakdown for Calgary, Alberta
15:54 - Calgary Apartment predictions going into the new year.
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📱 Phone: 403-561-8747
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Watch video Demand for Calgary Condos Increases. What’s Next for Prices? online without registration, duration hours minute second in high quality. This video was added by user Adam Fyfe | Calgary Realtor | Moving to Calgary 01 January 1970, don't forget to share it with your friends and acquaintances, it has been viewed on our site 93 once and liked it 1 people.