MODERN ’HOODS SET PACE
When it comes to the residential resale market in Calgary, the sprawling south end has no trouble pulling its weight. While Tuscany, in the northwest, led the way for single-family home sales from January to September, the south side overall is the busies
While most of the resale activity of single-family homes in Calgary this year was coming from the south end of the city, Tuscany had the neighbourhood lead.
Tuscany, an established community in northwest Calgary with an LRT station, has carried the pace among all city neighbourhoods between Jan. 1 and the end of September, recording 239 sales of single-family homes, says the Calgary Real Estate Board.
During this time, Cranston, a southeast community masterplanned by Brookfield Residential, was close behind with 237.
The benchmark price on single-family homes in Tuscany year to date was $499,544.
From September — the most current data available — the benchmark was $487,700, a 13 per cent decline from the same time a year ago.
For homes in Cranston, the benchmark through nine months in 2017 was $494,889. Its September figure was $502,400, a four per cent climb year over year, says CREB.
Here are five take-aways from how individual communities and neighbourhoods have performed in resale of single-family homes in Calgary this year:
1.
So far in 2017, real estate agents have been busiest selling single-family homes in an area CREB defines as south Calgary. Between Jan. 1 and the end of September, this is where 1,922 of these homes have been sold.
Evergreen paces the area with 200 transactions, followed by 151 in Chaparral and 109 in Bridlewood. With 3,063 new listings, south Calgary added the most single-family homes to the re-
sale market year to date. 2.
When looking at new listings in neighbourhoods, Cranston was on top. It added 414 singlefamily homes to the city’s resale market between Jan. 1 and the end of September.
During this time, three other communities eclipsed the 300-mark. There were 342 new listings apiece in Tuscany and Evergreen, and 321 in northwest Calgary’s Panorama Hills.
3.
People selling single-family homes on the west end of Calgary enjoyed the strongest yearover-year price growth of any part of the city last month. With a benchmark of $736,400, prices on the west end hiked five per cent from September 2016.
Leading last month’s increase in west Calgary was Signal Hill, rising 10 per cent to $761,800.
An area CREB calls the city centre — largely comprised of older neighbourhoods near downtown Calgary — had the next strongest price increase, up three per cent to $694,400. Year to date, west Calgary’s single-family benchmark was the most expensive of any end of the city at $723,444.
4.
When it came to price growth in neighbourhoods, four posted double-digit percentage increases from September 2016.
The leader was Mayfair, a southwest community east of Elbow Drive. Last month, it’s benchmark of $1,203,900 soared 15 per cent year over year.
It was trailed by gains of 12 per cent in Bonavista Downs, and 10 per cent each in Shaganappi and Signal Hill.
5.
While Cranston led south- east Calgary in sales, it wasn’t the only community on this end of the city to record a busy first three-quarters of 2017.
It was one of nine neighbourhoods to be in the triple-digits for transactions during this time.
The lake community of Auburn Bay had the second highest yearto-date tally at 185, followed by McKenzie Towne and McKenzie Lake with 155 and 154, respectively.
Between Jan. 1 and the end of September, 2,234 single-family listings came on stream in southeast Calgary.
For September alone, 269 were added to the market, up 19 per cent from the same month in 2016, says CREB.