Townhome Sales Growth Highest In Calgary

Can you empathize with this sentiment?

” About tired of renting and would like to buy, but buying when the average single family home in Calgary has never cost more scares the crap out of me.”

Concern with buying a SFH when prices are at all time highs is one reason why Calgary buyers are turning their attention towards the condo market – specifically, townhomes.

It’s true that single family home prices are now at the highest level they’ve ever been.   It has taken 6 years, but prices have finally eclipsed the previous highs seen back in 2007.

Single family home prices have full recovered

Single family home prices have fully recovered

The same can’t be said of Calgary’s condo market.

Condo prices still recovering, some 6 years later

Condo prices still recovering, some 6 years later

Comparatively speaking, condominiums are more affordable and are still below peak pricing which buyers find a measure of comfort in.

It’s no wonder that the resale condo market is booming with high sales growth.  Even new condo sales are at the strongest levels since 2006. (click to read article)

Earlier this year I had asked: “What’s the next best thing when prices become unaffordable for those looking for single family homes?”    The answer was:  Townhomes.  The y/y growth in townhome sales is evidence of that now.

Year-to-date townhome sales are up 22.18%, followed by Apartments with a 14.58% y/y increase and single family homes which are up 7.36%.

Townhomes lead in y/y sales growth

Townhomes lead in y/y sales growth

2 responses to “Townhome Sales Growth Highest In Calgary

  1. It is just getting to expensive here period . I guess Town homes if people can afford them then next condos . After that it will be interesting , with all the new construction going on it looks like we are in boom time again .

  2. Hmmm…this makes me wonder if I should list my townhouse?

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