When comparing the real estate markets in the respective cities of Edmonton and Calgary, the obvious trend that we witness now is that the former has become a hot spot for duplex constructions, while the latter is moving ahead in the apartment condo category.
Calgary and Edmonton are two of Alberta’s biggest cities and both of them are quite different as far as their real estate markets are concerned. Here is a small list detailing the key changes that have taken place in these cities in the last 5- 6 months.
With regard to apartment condos, Calgary takes the cake with a start of 2087 units. According to the Canada Mortgage and Housing Corporation, 466 units were developed in the downtown area alone. On the other hand, Edmonton fell behind by 23%, with only 1609 units.
With regard to the reselling of apartment condos, Edmonton seemed to be more active. The capital was witness to the reselling of around 2626 units between the start of the year and the middle. Numbers were provided by the Edmonton Real Estate Board. During this period, the market also saw new listings of over 6500.
As for Calgary, the resale numbers were at 1669, while new listing numbers were at 4489.
In terms of pricing, Edmonton came out as the cheaper location with an average pricing of $252,032. Calgary averaged at $370, 644.
Townhomes & Duplexes
Duplexes and Townhomes are categorized together by the estate boards in both cities. In Calgary, sales numbers were at 2372 for a period of 7 months. Edmonton lagged behind at 1847.
Calgary also led under new listing with 4874 units, while Edmonton had to make do with a mere 1847.
In Edmonton, the average prices for townhomes and duplexes, between January and July of 2016, hovered around the $353,586 mark. In Calgary, the average prices were around $403,442.
Edmonton beat Calgary in the fresh construction race with 1090 duplexes and 737 townhomes over 474 duplexes and 597 townhomes.
Edmonton had the advantage here as well with 247 townhomes and 442 fresh but unabsorbed duplexes. Calgary lagged behind with 122 townhomes and 115 fresh duplexes.