To break this down a bit, the number of single family homes sold will increase by 2.4% and prices will increase by 3.8%. Apartment condos sales will increase by 5% and prices 5.8%. Although the most popular properties in 2014 are the townhouse condos with an 8% increase in sales and a 4.75% increase in prices.
Why so much more growth in the Calgary condo sales? This is because we have a healthy inventory of condos on the market. Usually I’ve seen about 28% of properties on the market that are condos, right now it’s 33%. Secondly, they’re a more affordable option for first time home buyers. The predicted 2014 Benchmark price for an apartment condo is $281,800 and $308,690 for a townhouse, meanwhile the single family home price is $461,100.