Multi-family resale housing activity in Calgary was strongest in the city’s southwest from July to the end of September, says the Calgary Real Estate Board.
The board’s Zone C, which roughly covers that quadrant, saw sales of 843 units at an average price of $323,991 — nearly double that of the next highest, Zone A. Approximately covering northwest Calgary, Zone A had 445 sales at an average price of $288,179.
During the third quarter, homes in Zone C also averaged only 48 days on the market, the fastest in the city.
The flurry in Zone C was led by the community of Connaught, which topped the city in resale transactions with 95 units changing hands at an average price of $321,935.
Along with leading the city in sales totals, Zone C also had the highest average resale price over the past three months at $323,991.
Zone C has topped all areas in the city in sales and in average price since the start of 2012.
During the third quarter of last year, Zone C also led all areas in the city in sales and average price, when 750 condos changed hands at an average cost of $314,073. History also repeated itself in Connaught, which outpaced all communities in sales with 82 from July to the end of September 2011.
During the third quarter of this year, the community with the highest average resale price with more than one sale was Currie Barracks at $763,209.
However, one condo was sold in the southwest community of Bayview for $905,000.
July 1 to the end of September saw 184 sales of condo units at an average price of $277,889 in Zone D, which roughly covers southeast Calgary, and 119 sales at an average price of $167,922 in Zone B, which translates to the city’s northeast.
During the third quarter, the community with the lowest average resale price was Forest Lawn at $112,200. Five sales were made in Forest Lawn during this span.