Recent market report shows a slight decrease in the average selling price of condos in downtown Calgary
Online PR News – 13-April-2014 – Calgary – From February to March of this year, the average price of downtown Calgary condos have decreased slightly. However, this does not indicate the same market trends for the rest of the city.
The communities measured in this market report include Mission, Cliff Bungalow, Connaught, Lower Mount Royal, and Downtown.
In February the average sold price of a condo in the downtown area was $422,399, while the price decreased to $382,122 in March. This is a 0.9% decrease in selling price.
The number of condos sold in these downtown areas increased slightly by 1.1%, going from 105 to 112 properties sold.
Calgary overall experienced a decrease in new listings and an increase in sales, which resulted in low inventory. Calgary condo apartment sales, however, saw the strongest growth due to the availability of listings.
Average Sold Price in March (Lowest to Highest)
Lower Mount Royal-$357,181
The downtown community with the largest decrease in selling price was Mission with a 1.5% decrease. In February, the average sold price in Mission was $647,909, which moved to $428,714 in March.
The average asking price in March for these downtown communities was $387,321, which is a 1.1% decrease from the average asking price in February of $430,593.
The number of new listings in these communities did experience a fairly large increase in March. In February there were 116 new condos listed, which jumped to 170 in March.
If you are looking to buy a Calgary condo, or you want more information on the market report, please contact CIR realtor Karim Hassam at 403-689-9594 or at firstname.lastname@example.org.