According to a new report from the Calgary Real Estate Board, town sales activity hit double-digit growth in the third quarter. This continues the brisk pace set in the first half of the year.
Year-to-date town sales totalled 4,110 units which is a 41 per cent increase year-over-year.
Bob Jablonski, president of the CREB said,“We keep seeing strong sales growth in the surrounding municipalities because, when it comes to single-family homes, the supply is down in Calgary proper. Plus, generally speaking, you can find more house at a more affordable price in these areas and other areas outside the city.”
Airdrie, Cochrane and Okotoks all recorded double digit sales growth in the third quarter. Together, they represent nearly half of the sales activity surrounding Calgary.
The benchmark price of a typical home in Airdrie, the lowest of the top three surrounddings areas, was $338,600 in September. This is 22 per cent less than the benchmark single-family home in Calgary. Cochrane, the highest of the three surrounding areas, had a typcal house price of $388,600. This is 11 per cent less than single-family housis in Calgary.