South East Calgary is well-known as a suburb where inventory has been relatively high in the last several years. South East Calgary is mainly known for detached homes which are the most sought – after hosing type in the District, but it also has beautiful row and semi-detached houses, as well as condo apartments which represent more affordable alternatives.
Detached Homes in March 2018 in Calgary SE
Regarding the number of sales for detached, SE Calgary ranked second last month from all Calgary communities with a total of 146 sold houses. Only South Calgary sold more, i.e. 187. This means that detached are higher in demand in the southern areas of Calgary than elsewhere in the city. The benchmark price was $450,000, which is higher than in North East, North and East Calgary, and the sales to new listings ratio was roughly 53%.
The condo market in South East Calgary is of course not as dynamic as the detached market. As for March, the number of sold condos was 26 and the sales to list ratio was 52% which is still great, indicating a balanced condo market. The benchmark price for condos was $238,000, ranking SE Calgary condos somewhere in the middle price-wise, after the City Centre, North West and West Calgary.
The number of sold row homes equals the number of sold apartments (26), but row homes are more expensive with a benchmark price of $293,100. However, looking at the sales to new listings ratio, which is around 42%, we can see that they are less in demand than condo apartments.
Semi-detached homes have the lowest sales to new listings ratio, i.e., 38%, indicating that semi-detached are the least popular option in Calgary SE. With a total inventory of 39, only 13 semi-detached homes sold in March 2018, but when it comes to market value, they come in second with a benchmark price of $321,000.
South East Calgary properties, no matter which kind, still remain below $500,000, while detached homes are the only category exceeding $400,000, followed by semi-detached which crossed into the $300k + category. Row homes are slightly below $300, 000, and apartments are the most affordable option available under $300,000.
Year -over -year price growth for SE Calgary is similar as in other districts. Prices increased insignificantly for detached by 0.56%, but they decreased for all other categories. As for all of Calgary, the prices on a year-to-year increased by 0.3%, but further growth is expected. Currently, Calgary’s got a 4-month worth inventory which means that the city is still in a buyer’s market and buyers have plenty of choices.
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