These five neighbourhoods are the most in demand in Calgary right now
The housing market in Calgary continues to be in high demand, and it seems that some neighbourhoods are even more sought after than others right now.
According to the digital real estate platform Wahi, several neighbourhoods in the city have seen serious overbidding, indicating a lot of interest in those areas.
In the third quarter, the median price of a Calgary home was $561,000, edging 2% lower than the previous quarter but remaining up 13% from the same period last year.
When looking at all home sales across Calgary in Q3, the city was in underbidding territory, though barely. The Calgary-wide median underbid amount was just $4,925.
It looks like the southeast is taking the market by storm with four of the five neighbourhoods included in the list located in that quadrant of the city.
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The community of Red Carpet took the top spots with a median overbid amount of $10,200, narrowly surpassing Deer Ridge at $10,100.
Vista Heights came in third at $7,600, followed by Southview at $6,900, and Riverbend at $5,100. Wahi added in its report that 19 neighbourhoods in Calgary remained in overbidding territory in the third quarter.
Wahi
“The Calgary market has been holding steady despite an apparent rise in underbidding activity,” said Wahi CEO Benjy Katchen. “Summer is short, and people tend to make the most of it by going away on vacation,” he adds, noting one possible factor behind the calmer third quarter.
While prices generally held their ground, the Calgary market did experience a sharp drop in home sales. Some 6,585 homes changed hands in the third quarter, representing a 25% quarter-over-quarter drop and down 16% from a year ago.
When it comes to underbidding in Calgary, a total of 149 neighbourhoods landed in that territory in the third quarter.
If you are looking for a deal on property in YYC, check out these 10 homes we found that are on the market right now for under $500,000. Happy house hunting!