These three neighbourhoods are the most in demand in Calgary right now
Some neighbourhoods are more desirable than others in Calgary, and a handful are so sought after that they skyrocket into overbidding territory for a house.
According to the digital real estate platform Wahi, several neighbourhoods in the city have seen serious overbidding, indicating plenty of interest in those areas.
In the second quarter, Calgary remained a seller’s market with home prices rising by five per cent year-over-year in June, marking a whopping 26 consecutive months of annual price growth.
When looking at all home sales across Calgary in Q2, the city was in underbidding territory, with the median difference between list and sold prices being $7,285.
It looks like the southwest is grabbing homebuyers’ attention, with two of the three neighbourhoods included in the list based in that quadrant of the city.
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“These centrally located communities offer convenient access to transit, parks, and major amenities, which could account for stronger buyer interest,” Wahi said as to why overbidding action may have occurred in the second quarter.
The community of Kelvin Grove took the top spots with a median overbid amount of $28,350, easily surpassing Chinook Park at $12,500.
Point McKay came in third at $7,950, with Wahi adding in its report that 94 per cent of Calgary neighbourhoods landed in underbidding territory.
Wahi
When it comes to underbidding neighbourhoods, the largest gaps between list and sold prices appeared in Calgary’s higher-priced areas. In Elboya, homes sold for a median $99,000 under asking, followed by Elbow Park, Rosedale, University Heights, and Parkdale.
Wahi
If you are looking for a more real estate action, check out the 10 neighbourhoods that are the most expensive in Calgary right now, or this massive Calgary house that just saw its SECOND $1-million price drop of the year.