12 Things to Know About Calgary’s Real Estate Leaders
Posted by Kelly McKelvie Tuesday, January 31st at 11:18am
The following is a great article from Josh Skapin from the Calgary Herald.
No community in Calgary saw more single-family homes change hands through the resale market in 2016 than Tuscany. The established northwest Calgary neighbourhood led the way with 316 sales last year, says the Calgary Real Estate Board.
But what were the other real estate leaders? Josh Skapin looks at 12 facts from Calgary’s resale home market in 2016.
1. Most expensive neighbourhood
An established area off Elbow Trail was the most expensive neighbourhood for buying a single-family home in Calgary last year. The benchmark price on the 11 sales in Bel-Aire was $1,604,550, says CREB. Nearby Britannia was next at $1,396,325 on six sales.
2. More than 200 sales
After Tuscany, seven other Calgary communities had more than 200 sales on single-family homes last year. They include Coventry Hills, Evanston, Auburn Bay, Copperfield, Cranston, New Brighton, and Evergreen.
3. New listings leader
A master-planned community in southeast Calgary led all parts of the city in selection of single-family homes last year. Cranston had 458 new listings, followed by Tuscany with 436, CREB says.
4. Above asking price
Nobody selling their single-family home got a closer price to what they were asking for than residents of North Haven, says CREB. The neighbourhood had a sale price to listing price ratio of 102 per cent on its 23 sales last year. Inner-city Parkdale and Parkhill were next, each registering a ratio of 101 per cent. That came from 18 sales in Parkdale and 10 in Park Hill. For communities with at least 200 sales in 2016, Auburn Bay and Coventry Hills led the way at 98 per cent each.
5. Attached homes
For attached homes, which refers to both duplexes and townhomes, most buyers turned to McKenzie Towne. The southeast community featuring a quaint high street had 138 transactions last year, says CREB. This was the only community with triple-digit sales in 2016. Northwest Calgary’s Evanston and southeast lake community Auburn Bay were next with 95 and 83 deals, respectively.
For attached homes, the sales leader also offered the most selection. McKenzie Towne had 255 new listings in 2016. The other communities with at least 100 additions to the market last year include Evanston, Panorama Hills, Auburn Bay, Cranston, Glenbrook, and West Springs.
7. Attached homes price leaders
Buyers of attached homes last year spent the most in Parkhill. The community bordering the Elbow River had a benchmark price of $868,875 on 10 sales in 2016. Parkdale was next at $822,658 on 21 transactions.
8. Sold to highest bidder
People selling attached homes got the closest number to their listing price last year in Scenic Acres. The established northwest community had a sales to listing price ratio of 101 per cent on 17 deals, says CREB. This was followed by 100 per cent each in Sage Hill and Saddle Ridge on 22 sales and 20 sales, respectively.
9. New owners
The historic Beltline district accounted for 33 per cent of all apartments sold through the city’s resale market in 2016. It had new owners for 437 units last year. The next most active neighbourhood was Mission with 99 sales.
10. More to pick from
From selection came sales. The Beltline set the citywide pace in new listings with 1,006 apartments added to the market in 2016, CREB says, Mission’s 253 new listings marked the second highest total.
11. Listing ratio
When it came to setting a price on apartments being sold last year, residents of a neighbourhood in south Calgary could have set their sights higher. People selling in Bridlewood pulled in 117 per cent on their listing price. This was the average on 32 transactions. The only other neighbourhoods with a ratio of at least 100 per cent on apartment sales were Springbank Hill on 22 sales, and Currie on six.
12. Price leader
The most money on apartments in 2016 changed hands in Eau Claire. The neighbourhood south of the Bow River saw a benchmark price of $506,133 on 37 sales, CREB says. Erlton followed with $429,900 on 30 transactions.
INFO LINK: Josh Skapin- Calgary Herald