Condo pace picks up steam in city

Calgary Herald - Calgary Herald New Condos - - New Condos - CLAIRE YOUNG

Com­pared to the last three months of 2011, re­sale con­dos sold faster from Jan. 1 to the end of March in three of four quad­rants of the city, says the Cal­gary Real Es­tate Board.

All of the board’s zones ex­cept for Zone A — which roughly cor­re­sponds to the city’s north­west — sold more quickly than dur­ing Oc­to­ber to De­cem­ber.

In Zone A, con­dos took an av­er­age of 58 days to sell — three more than dur­ing the last quar­ter.

Con­dos in Zone B, which roughly con­sists of north­east Cal­gary, av­er­aged 58 days on mar­ket, down from 64 in the first quar­ter.

Mean­while, Zone C — roughly south­west Cal­gary — saw the hottest sales with an av­er­age of 49 days on mar­ket, down from 60.

And Zone D, which is roughly con­sists of south­east Cal­gary, saw a six-day drop to an av­er­age of 50 days on mar­ket.

The new year brought many more list­ings for con­dos.

From Jan. 1 to the end of March, there were 2,702 new list­ings in the city com­pared with 1,644 dur­ing Oc­to­ber to De­cem­ber.

The bulk of the new list­ings were in Zone C, with 1,492 added. This zone also saw the most sales at 783, up again from last quar­ter’s 612.

The only neigh­bour­hood to hit tripledigi­t sales in 2012’s first quar­ter was Con­naught in Zone C, which saw a tidy 100 sales av­er­ag­ing $309,451.

Other neigh­bour­hoods in Zone C that sold well were Vic­to­ria Park with 48 sales av­er­ag­ing $351,754, and Bankview with 32 sales av­er­ag­ing $262,512.

The most ex­pen­sive neigh­bour­hood from Jan. 1 to the end of March was Var­sity Es­tates in Zone A, which had two sales av­er­ag­ing $598,750.

The most af­ford­able neigh­bour­hood was also in Zone A — High­land Park, which had one sale for $79,000.

Dur­ing the first three months of 2012, the av­er­age sale price in­creased in all zones ex­cept Zone D — where this quar­ter’s av­er­age sale of $259,768 marked a de­cline from last quar­ter’s $268,998.

Zone C had the high­est av­er­age sales at $307,822, an in­crease from $298,960.

Zone A’s av­er­age sale was $281,193, up al­most $10,000, while Zone B was up a lit­tle more than $4,000, with an av­er­age sale of $173,544.

C MFor our sin­gle­fam­ily home sta­tis­tics, see our web­site un­der the head­ing: ‘Rate Your Re­sale.’

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.