Why the Timing is Right for Condo Buyers in Calgary
Although the overall housing market in Calgary has yet to see a steep decline in housing prices in response to the uncertainty that still clouds the energy industry, the condominium sector has experienced some noticeable price drops. In the September 2015 monthly report issued by the Calgary Real Estate Board (CREB), Chief Economist Ann-Marie Lurie reports “Year-to-date apartment sales have fallen by 32%, while listings have dropped by just 7%. As a result, the apartment benchmark price totaled $290,600 in September, a 1.19% decline over last month and 2.71% below last year.” In other words, if you are entertaining thoughts of condominium living in Calgary, now may be the time to make your move.
Many advantages to the condo lifestyle continue to attract young and older buyers alike. Young professionals and their baby boomer parents are equally disinterested in commuting long hours to work and spending large blocks of leisure time on home maintenance. They are more interested in enjoying the active urban lifestyle that downtown Calgary affords. Lower housing costs, freedom from mundane maintenance chores and convenient access to work and all the cultural opportunities that the Inner City offers all combine to make condo living in Calgary an attractive option.
Many advantages to the condo lifestyle continue to attract young and older buyers alike. Young professionals and their baby boomer parents are equally disinterested in commuting long hours to work and spending large blocks of leisure time on home maintenance. They are more interested in enjoying the active urban lifestyle that downtown Calgary affords. Lower housing costs, freedom from mundane maintenance chores and convenient access to work and all the cultural opportunities that the Inner City offers all combine to make condo living in Calgary an attractive option.
Condo owners must, of course, pay monthly maintenance fees, but in return, they receive snow removal and outdoor maintenance and repair service, interior common area maintenance and, in many instances, access to state-of-the-art exercise equipment and recreational space within the complex. If you add up what all of these and other items would cost in a single-family home, condominium ownership often ends up being the more affordable choice.
Like single-family homes, condominiums come in all shapes, sizes and price points. The smart thing to do is to work with an experienced local Realtor to find the condo that best suits your needs, wants and goals.
Without a crystal ball, no one knows when condo prices in Calgary will start rising again. Most experts agree that the market does not appear to be heading toward a crash despite oil and gas concerns. If condominium living sounds like the right choice for you, make an appointment with a knowledgeable Realtor to explore your options.
Are you buying or selling a home in Calgary? Do you want an agent who has the enthusiasm and energy to get things done, with your best interests in mind at all times? Contact me at 403-617-8758, kelmacdonald@gmail.com or www.kellymacdonald.ca and let's make good things happen!
Are you buying or selling a home in Calgary? Do you want an agent who has the enthusiasm and energy to get things done, with your best interests in mind at all times? Contact me at 403-617-8758, kelmacdonald@gmail.com or www.kellymacdonald.ca and let's make good things happen!
About Kelly Macdonald
Kelly Macdonald is a Realtor® with The Real Estate Company in Calgary, where she has been living (and loving it!) since she was 10. Kelly offers her clients a unique mix of youthful vigor, creativity and technical and design savvy on one hand, and professionalism and transactional expertise from her business degree and strong administrative background on the other. Kelly is also a devoted wife and mother of two, with whom she finds time from her busy schedule to play scrabble and walk by the beautiful lake of their home in Southeast Calgary.
THIS ENTRY WAS POSTED ON November 19th, 2015 BY Kelly L. Macdonald | POSTED IN General
