There has been a steady and rising number of people migrating to Calgary which has tightened the rental market with vacancy rates well below 2%. This has stimulated interest in both buyers’ purchasing an investment property and first time home buyers seeking a less expensive option than renting. Combine this market behavior with low interest rates and the market has become in favour of the seller.
Please see the full year chart below, highlighting all townhouse condos in Calgary. Note the shortage of townhomes currently on the market (TH Inventory) as compared to the number of townhomes sold (TH Sales). These conditions often result in higher prices.
If you are considering putting your property up for sale or if you have questions about the market, please do not hesitate to contact us. We would be happy to make time discuss this further with you.
Posted by: Sabrina Stevenson