Calgary housing market and apartment sales in Toronto record high

The Calgary Real Estate Board says the region saw a record number of home sales during October and that the pace of sales is set to continue.

The Alberta Real Estate Council said the region saw 2,186 sales in October, up 24% from 1,763 in the same month of 2020.

The board says these numbers are more than 35% higher than the long-term average and set the 23,848 homes sold this year on pace to reach a record high.

The board says this year’s sales in Calgary are already 61% higher than the average activity recorded over the past five years and 42% higher than the 10-year average.

The board also says new listings for October reached 2,500, an increase of nearly 2% from 2,460 in the same month a year ago.

Toronto Condo Market

At the same time, sales of new condominiums in the Greater Toronto Area (GTA) reached a record for the third quarter as buyers flocked back to the high-rise segment of the housing market.

The latest data from market research firm Urbanation shows that 7,773 new condominiums were purchased in GTA in the three-month period between July and September, an increase of 22% compared to the same time last year, marking a new record high for the third. quarter.

According to Urbanation, the suburbs accounted for more than half of total sales, but the city of Toronto experienced stronger overall sales growth of 40%.

Unsold inventories also fell, which helped push the average price per share. square footage of new condominiums still on the market, up 10% to $ 1,231 – another record high.

The Greater Toronto apartment market is now back in growth after a stream of units hit the market in the fall and winter months last year, when the pandemic-induced telework shift led many buyers to prefer more living space, which had depressed condominium prices.

Leave a Comment