Amidst our current development project efforts, the Calgary Real Estate Board is affirming the relative strength in Calgary’s residential market as evidenced by continued growth in sales volumes and pricing growth.
CREB is reporting this week that condo apartment sales in September have risen 17% over September 2011 with average prices up more than 4% versus a year ago. This current market data continues to support our outlook for continuing strength in Calgary’s multifamily housing market, particularly within the inner city, due to strong full-time job growth and positive migration.
Bob Jablonski, CREB’s president, has noted that although Calgary appears to be defying the national trend of a slowing residential market, in fact this is the first time in several years that the Calgary housing market is displaying normal characteristics for this time of year.
