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Communities in southwest Calgary saw the most sales of affordable single-family homes for much of the first half of 2024, a new survey has found.
Real estate portal Wahi compiled sales for single-family homes priced less than $500,000 between January and May of this year, ranking the Top 10 communities by lowest median price.
Communities in the southwest accounted for seven of the 10 neighbourhoods that made the list.
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At No. 1 was Woodlands with a median price of $295,000 — though only five homes sold over the five-month span for less than $500,000. Of those, the average amount over asking price was five per cent.
The southwest rounded out the Top 3 with Glenbrook in second at $325,000 for a median price. It also saw the most activity with 13 sales with buyers overbidding by an average of about four per cent over list price.
In third was Glamorgan where the median sale price was $370,000. The six homes below $500,000 sold on average for three per cent over ask price.
Dalhousie in the northwest was in fourth spot at $405,250 with six sales, averaging three per cent above ask price.
Notable in the study was that Wahi included in its detached home pricing not only single-family detached homes but townhomes and semi-detached homes too.
The findings reflect the relative scarcity of lower priced homes in the resale market in Calgary.
The Calgary Real Estate Board’s mid-year report, released in July, pointed to low supply among affordably priced homes, especially among those three housing types.
The Wahi study’s findings, revealing that only 74 homes sold in the first five months of the year below $500,000 across these 10 communities, reflect the dearth of affordable single-family detached, semi-detached and row homes for sale in the Calgary market.
By comparison,1,278 single-family detached homes sold in Calgary in June, including 262 in the city’s south and 123 on the west side where the benchmark prices averaged about $735,000.
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