Condo re­sale mar­ket climbs in May

Calgary Herald - Calgary Herald New Condos - - New Condos - JOSH SKAPIN

Cal­gary’s condo re­sale ac­tiv­ity climbed 35 per cent in May, com­pared to the same time last year, says the Cal­gary Real Es­tate Board.

In fact, there were 675 apart­ment or town­house sales last month af­ter only 500 condo units changed hands in May 2011.

The av­er­age re­sale price for condo apart­ments last month was $280,030. For town­houses, the av­er­age price was $330,446.

High-end condo sales are also on the up­swing in the city. Af­ter the first five months of 2012, 10 town­houses priced from $900,000 were sold in the city — only three units in that price range changed hands dur­ing the same pe­riod in 2011.

For condo apart­ments, eight units have sold for at least $900,000 so far in 2012, com­pared to five units last year.

Zone C, which roughly cov­ers southwest Cal­gary, paced the city in condo sales last month with 385. The zone also saw the high­est av­er­age re­sale price at $322,204. It also paced the city in in­ven­tory with 1,016 avail­able units.

Lo­cated in Zone C, Con­naught topped all Cal­gary com­mu­ni­ties in May with 49 units sold. Also in Zone C, Spring­bank Hill had the high­est av­er­age price at $571,200.

A dis­tant sec­ond to Zone C’s sales to­tals in May was Zone A, which roughly cor­re­sponds to north­west Cal­gary. It saw 189 sales at an av­er­age re­sale value of $295,682.

Zone D, which roughly cov­ers south­east Cal­gary was third in sales to­tals last month with 69 at an av­er­age re­sale value of $263,609.

The slow­est area of the city for condo sales was Zone B, which roughly cov­ers north­east Cal­gary. It had 32 sales at an av­er­age price of $170,893. The com­mu­nity with the low­est av­er­age price in the city was For­est Lawn at $88,000.

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