Calgary
The number of active developments in the city is 229. In these developments, there are 90 single-family homes and 46 townhouses. With 4336 units currently under construction, the number of condos is 77 along with 16 apartment developments. A low-rise home has a median price per square foot of $253. Trico Homes are the most active developers in Calgary.
The average price of a two-bedroom detached home is $479K, of a three-bedroom is $528K, a four-bedroom is $600K, a five-bedroom is $704K, and a six-bedroom is $731K. The average price of a single-bedroom townhouse is $356K, a two-bedroom townhouse is $323K, a three-bedroom is $338K, and a four-bedroom townhouse is $568K. The average price of a studio is $111K. The average price of a single-bedroom condo is $213K, a two-bedroom condo is $269K, and a three-bedroom is $537K. The prices of detached houses are more than that of townhouses which in turn are expensive than condominiums. In the last 28 days, 4084 homes had been added to the new listings. While the number of properties that had been sold in the last 28 days is 2827.
The average number of days that had been reported for a property in the market in March 2021 is 35. According to the MLS listings, at the same time in the previous year, the number of average days for a property in the market was reported 52. These figures include all the properties in it that are in the boundaries of Calgary city, which are detached homes, townhouses, condominiums, apartments, and attached houses.
The number of properties exceeded 819 listings that have been sold at or above the asking price in March which keeps the demand for quality homes in Calgary. This number represents 28.2 percent of the total sold listings. Last year at the same time the number of homes sold at the same or higher price than the initial asking price is 113.
The number of new listings has been increased by 83.5 percent this year in comparison to March 2020 in Calgary. This has been reported by the CREB which has recorded 4437 new properties in the listings coming in the market in Calgary. If we compare months with months then there is an increase of 55.8 percent in the number of new listings in the city. This is the result of the seasonal cycle of the real estate market.
It is expected that the real estate market of Calgary is going to continue as a balanced market in 2021. The factors that are going to affect the market include COVID-19 and the economic factors that are related to the sectors of oil and gas. If there will be a lockdown again then the open houses will likely stop and the housing activity gets affected.
