Calgary New Condo Sales Continue to Climb

CALGARY - An Altus Group report says new condominium sales in Calgary have jumped by 11.5% so far this year compared with a year ago. The new report said sales reached 2,555 units between January and September compared with 2,292 for the same period a year ago.

“Demand for condominium units has increased this year, supported by a variety of factors,” said Richard Cho, senior market analyst in Calgary for Canada Mortgage and Housing Corp. “Many first-time homebuyers have made the move into homeownership this year with the purchase of a condominium unit. Condo units on average are priced lower compared to single-detached homes, making them an attractive option for many of these buyers.

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