Calgary Neighbourhood Sees Signs of Maturity

The City of Calgary is currently evaluating a bid for the 2026 Winter Olympic Games. However, the issue has divided citizens and the city council with the benefits and drawbacks of potentially becoming a host city being hotly debated. Elsewhere, the university district is a new inner-city development, bringing a mix of residential, retail and office spaces, shopping, dining and entertainment to a mature neighbourhood.

While overall benchmark prices in Calgary are generally stable, the downtown core continues to carry historically high vacancy rates for office space. As of last month, the median sale price for a home was $425,000, down only $3,000 from the same time last year. Meanwhile, the number of homes available on the market rose slightly month to month, currently sitting at 1094 properties. Inventory has also increased this year, while the average number of days on market for a home has fallen. Properties currently sit for an average of 51 days, down from 61 days a month prior.