Calgary Condo Prices Up 1% In Jan 2023 (10% YoY!)
Inventory levels for condos in Calgary remained well below long-term trends in January and have not been this low since 2014! Limited supply and increased demand from record net migration and a strong economy have caused prices to trend up, especially driven by strong gains in the lower priced district of the North East and East. BUT Condo Prices are still below the record high prices set in 2014!
Even with historic interest rate increases, Calgary is booming - a complete turnaround from the economic hardships and recession they saw from 2015-2019. There was no real estate bubble, and the economy and province have stabilized and are significantly benefiting from higher oil prices which are not expected to come down any time soon.
If you want to take advantage of the strong real estate market in Calgary, Hazelwood Condos launches today - 1 to 3 bedroom units are all between $300k and $400k, including parking. 2027 Closing, 10% deposit spread over 540 Days and it includes a 2 year Rental Guarantee with free property management. It is in East Calgary, the best performing area of the city in 2022.
I personally invested in this neighbourhood and you don't want to miss out on this one!