![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2022\/01\/philip-davis-sOAZwnbVrj0-unsplash.jpg\")
<\/a>Photo: Philip Davis<\/a> \/ Unsplash<\/a><\/em><\/p>\nFuelled by sustained buyer demand, Calgary\u2019s new multi-family home market closed out 2021 by recording its highest annual sales total since 2014.<\/p>\n
According to Zonda Urban\u2019s Q4-2021 Calgary Multi-Family Take, 849 quarterly sales pushed the annual total to 3,505 \u2014 25 per cent higher than 2020 and 21 per cent higher than the total recorded in 2019.<\/p>\n
While sales decreased nine per cent from the previous quarter, the fourth quarter saw the third-highest quarterly total posted during the last four years.<\/p>\n
Historically, fourth quarter sales totals have shifted by as much as 20 per cent from third quarter figures, although the Calgary market has seen single-digit quarter-over-quarter fluctuations during the last three years.<\/p>\n
\u201cThe stabilizing of fourth quarter sales totals provides further evidence of stability and strengthening of Calgary\u2019s new multi-family home market,\u201d the report stated. \u201cThis is further supported by the increase in investors from in and out-of-province who are looking to capitalize on the affordable pricing amid strengthening market conditions.\u201d<\/p>\n
<\/p>\n
The overall average unit price increased by 1.8 per cent to $386,879 during the fourth quarter. Concrete condominiums saw the largest average price increase, surging from $567,838 to $604,715, while townhome prices rose from $355,092 to $360,437.<\/p>\n
The market saw balanced demand across product types, with townhomes accounting for 51 per cent of total quarterly sales and condominiums making up 49 per cent.<\/p>\n
Elevated sales totals significantly reduced Calgary\u2019s inventory levels during 2021. Total move-in ready inventory decreased by 52 per cent from the previous year, with 402 current move-in ready units representing the lowest total since 2015. Total released and unsold inventory levels also decreased by 31 per cent year-over-year.<\/p>\n
Total inventory levels have remained under 3,000 units for three consecutive quarters for the first time since Zonda Urban began tracking the numbers, reflecting sustained buyer demand.<\/p>\n
\u201cFactors that have contributed to higher sales and lower inventory include the continued presence of out-of-province investors, more active entry level buyers, and supply chain shortages,\u201d said the report.<\/p>\n
Calgary\u2019s outer sub-markets continue to attract the most buyer demand. The Outer South recorded the most sales of all sub-markets during the fourth quarter with 315, accounting for 37 per cent of total quarterly sales.<\/p>\n
Inner sub-markets made up 27 per cent of total quarterly sales, and finished the year by recording over 200 sales combined in three consecutive quarters for the first time since 2014.<\/p>\n
\u201cConsidering the substantial expected job gains in Alberta over the next five to 10 years in sectors such as tech and clean energy, the inner sub-markets will continue to be an attractive option for potential buyers and investors,\u201d the report said.<\/p>\n
According to Zonda Urban, with Alberta attracting investment dollars and newcomers drawn to the province by affordable housing, Calgary\u2019s new multi-family home market doesn\u2019t show any signs of slowing down in the new year.<\/p>\n
\u201cGiven Alberta\u2019s positive inter-provincial migration gains in late 2021 and increased investment in the province\u2019s economy, current demand levels are expected to continue into 2022,\u201d the report stated.<\/p>\n
<\/p>\n
Fuelled by sustained buyer demand, Calgary\u2019s new multi-family home market closed out 2021 by recording its highest annual sales total since 2014, according to Zonda Urban.<\/p>\n","protected":false},"author":47,"featured_media":222433,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","apple_news_api_created_at":"2022-01-20T15:25:55Z","apple_news_api_id":"d8b726b5-90f9-4d47-9103-f03b5d5feac0","apple_news_api_modified_at":"2022-01-20T15:25:55Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/A2LcmtZD5TUeRA_A7XV_qwA","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":["https:\/\/u48r14.digitalhub.com\/sections\/09b86915-7d2b-3acd-915b-b215002d01b7"],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[11108],"tags":[11126,11163,11198],"coauthors":[10282],"apple_news_notices":[],"yoast_head":"\n