According to the Calgary Real Estate Board, June condo sales were up 31 per cent over June 2010. The average price of a condo was also up slightly over 2010 to $296,501, though the median price was down about $5,000 from the same time last year to $265,000.
Median and average single-family home prices, meanwhile, remained virtually unchanged from a year ago, with the median price set at $417,250 in June 2011, only $750 less than in 2010.
"Improved housing demand is being fueled by a younger demographic and with the affordability of homes in Calgary, we are continuing to see young Calgarians pursue ownership over rentals," said Sano Stante, president of the CREB.
"Condo sales bounced back this month, and we now have less than four months of supply on the market. Combined with a decline in inventory, this will lend more balance in the market in the months to come," Stante said.
"Improved job prospects combined with an increase in the number of people moving to Calgary will give lift to our housing market for the remainder of this year and into the next," Stante predicted.
from Western Investor August 2011
