More and More People Are Looking at Condos in Calgary

Posted by Justin Havre on Thursday, July 4th, 2013 at 8:01am.

In the upcoming years more and more people in the Calgary area will be looking at  condo ownership. This is according to a new report by the Bank of Montréal that looked at the types of properties that people were interested in purchasing in the coming 5 years. The poll was done by Pollara and took place in 4 cities across Canada.

The cities where the surveys ran included:

  • Toronto
  • Calgary
  • Montréal
  • Vancouver
The poll showed that the interest shown by potential homebuyers in Calgary for purchasing a condo had gone up 8 points to 33% from the numbers shown in the fall, which were sitting at 25%. At the same time, the intention to purchase a regular home has fallen from 71% during the fall to 58% now.

In Montréal, things are quite a bit different. The numbers show that 24% of potential buyers will be looking at condos, which has fallen 3 points. At the same time, the interest in a house has gone up 16 points to 62% from 46% last fall.

In Toronto numbers went up 11 points for a condo to 31% while in Vancouver the interest in condos has gone down five points to 28%.

The average price for a condo apartment in Calgary has gone up to $297,530, which is a rise of 6.91% when compared to last year. So far in 2013 there have been 2,034 condos sold from the listings which is an increase of 9.53% when compared to last year's figures during the same time frame.

Condo ownership is looking like a great option to more people here in Calgary and Toronto while less people are looking for a condo in Vancouver and Montréal. It will be interesting to see what the next poll shows and whether the same figures hold true in the upcoming future.

Leave a Comment

Recent Blog Posts
Apr18

Calgary Providing Easier Employment for the Youth

The 16th Annual Youth Hiring Fair happened recently and over 1,000 eager young job seekers entered the fair in the first half-hour. About 500 more were lined up...

Read More
Apr18

It’s Time to Start Boiling the Easter Eggs - Here Are Some Tips to Help Avoid Cracking Them

One of the most creative activities that you can do with your children at Easter is to decorate eggs with them. This has become a tradition in many homes and it...

Read More