It’s no secret that home prices in Calgary have been skyrocketing, but there are some neighbourhoods where you might be able to nab a deal.
According to the digital real estate platform Wahi, several neighbourhoods in the city have seen serious underbidding, meaning homes in those areas have been selling well below the asking price.
Wahi
The homes included on the list of neighbourhoods seeing the most amount of underbidding are in some of the city’s most affluent areas.
At the top of the list is Upper Mount Royal, with a median sold price of $1,932,500. Homes in that area are selling, on average, $34,000 below the asking price. Just below that is Elbow Park which has average home prices of $1,932,500 and is selling for $28,950 below the listing price. Rosedale, Ramsay, and Wildwood are also included on the list.
These lower prices are not the norm right now. Between May and July of this year, over half of the neighbourhoods in Calgary saw homes sell for above their listing prices, which is a 13% increase from the first quarter of 2024.
That means if you want to be a seller of an expensive property in these areas, you might get less of a return for your property. But buyers with some extra cash might have an easier time landing their dream home!