Calgary condo market has record-setting year

Calgary's condominium market had a record-setting year with more that 4,700 condos in 2014, according to the Calgary Read Estate Board.

Condo demand in Calgary growing faster than demand for single-family houses

Condominium sales in Calgary had a record year, in part due to high prices for single-family homes. (Google Maps)

Calgary's condominium market had a record-setting year with more that 4,700 condos in 2014, according to the Calgary Read Estate Board (CREB).

Condo sales are up 18 per cent over the previous year.

Townhouse sales also broke records in 2014, increasing by 17 per cent.

Ann-Marie Lurie, chief economist at CREB, says it comes down to supply. There simply aren't as many single-family homes priced under $400,000 in Calgary and condos are filling that void.

"There has been a rise in listings and lots of availability in those lower price ranges. And for many consumers, they have turned to the condo market within the city limits to fulfill that housing need," she said.

According to CREB, the average price for a Calgary single family home in 2014 was $553,147. Lurie said condos are more affordable for first-time home buyers.

She adds that changes in the economic climate in Calgary are expected to cool housing market conditions in 2015.


To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). Pseudonyms will no longer be permitted.

By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. Please note that CBC does not endorse the opinions expressed in comments. Comments on this story are moderated according to our Submission Guidelines. Comments are welcome while open. We reserve the right to close comments at any time.

Become a CBC Member

Join the conversation  Create account

Already have an account?