Town­home, condo sales heat up

New list­ings also on the up­swing in hot mar­ket

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

Re­sale ac­tiv­ity of both condo apart­ments and town­homes in Cal­gary in­creased last month from a year ago, says the Cal­gary Real Es­tate Board.

Last month, 360 town­homes changed hands, mark­ing a five per cent uptick from 342 sales in April, 2013. Dur­ing the same time, apart­ment sales climbed 4.6 per cent with 449 deals, up from 429 a year ago. In both sec­tors, growth in new list­ings was higher than the in­crease in sales. The bol­stered se­lec­tion for buy­ers is wel­come news, says CREB pres­i­dent Bill Kirk.

New list­ings of town­homes in­creased 11 per cent with 684 units added to the mar­ket, up from 615 dur­ing the same time in 2013. For apart­ments, there were 486 new list­ings, up seven per cent from 454.

“Many con­sumers are in­ter­ested in en­ter­ing the mar­ket, but the lack of choice poses chal­lenges,” says Kirk. “While we are still early in the sea­son, if this trend continues, it should pro­vide more op­por­tu­ni­ties for con­sumers who have been un­suc­cess­ful with find­ing prop­er­ties.”

From Jan­uary 1-April 30, new list­ings of apart­ments were 16 per cent higher than the same time in 2013. On the town­home side, new list­ings saw an eight per cent up­swing dur­ing the first four months of 2014 from a year ear­lier.

Last month, both town­homes and apart­ments also saw prices in­crease. Town­homes sold for a bench­mark price of $316,700, up 9.6 per cent from $288,900. The bench­mark price is that of a typ­i­cal home based on a for­mula that uses var­i­ous fac­tors to en­sure ac­cu­rate com­par­isons. For apart­ments, the bench­mark price last month was $291,700, 11.6 per cent higher than $261,300 a year ago.

South­west Cal­gary topped all sec­tors of the city in re­sale of apart­ments and town­homes in April. Zone C, which roughly cov­ers the quad­rant, reached 400 sales last month. The quad­rant was led by 53 sales in the in­ner-city com­mu­nity of Con­naught and 26 sales in Vic­to­ria Park.

Next was Zone A (north­west), with 223 trans­ac­tions. Its top-sell­ing com­mu­ni­ties were Panorama Hills (28) and Coun­try Hills Vil­lage (14). Zone D (south­east) had 107 sales last month. McKen­zie Towne led this area with 26 sales fol­lowed by Cranston’s 12.

The fewest sales came in north­east Cal­gary, which roughly trans­lates to Zone B. It saw 79 apart­ments and town­homes change hands last month. It was paced by 13 sales in Taradale and seven deals in each of Run­dle, Marl­bor­ough Park and Fal­con­ridge.

Gavin Young/Cal­gary Herald

CREB pres­i­dent Bill Kirk says more se­lec­tion on the condo re­sale mar­ket is wel­come news.

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