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Calgary's Multi-Family Real Estate Market in January 2017

Blog by Julie Dempsey | February 21st, 2017

  • More apartments, duplexes, and townhomes were sold through Calgary’s resale home market inJanuary than the same month in 2016.
  • The biggest increase in sales came from townhomes, improving 30 percent to 129 transactions from 99 year over year, says the Calgary Real Estate Board.
  • Townhome sales were paced by an area CREB defines as south Calgary, recording 29 deals.
  • Meanwhile, apartments and duplexes each saw resale pick up 17 percent from the same time a year earlier. There were new owners for 151 apartments compared to 129 in January 2016, while duplex sales grew to 83 from 71.
  • Calgary’s city centre led both apartment and duplex sales, with 71 and 24, respectively.
  • All three segments saw a setback in new listings, says CREB. There were 202 additions to the city’s duplex inventory, down 25 percent year over year. Meanwhile, there were 329 new listings of townhomes and 629 for apartments.
  • New listings of apartments slid five per cent and townhomes eased 15 per cent.
    The highest benchmark price on apartments in Calgary last month was in Calgary’s city centre, where it was $295,400. This is down more than four percent from January 2016. Northeast Calgary was the only end of the city with a year over year price increase in the segment. The quadrant’s apartment benchmark improved 0.9 percent to $273,200.