While Calgary’s housing market continues to explode, the average cost of a home is out of reach for many locals, but some neighbourhoods are easier to buy into than others.
New analysis from the digital real estate platform Wahi found there is still “ample opportunity” to buy into the market of one of Canada’s biggest cities.
The platform identified 40 Calgary neighbourhoods where the average cost of a single-family home is below $500,000. Of these, 10 are the most affordable, with most located in the Southwest quadrant of the city and are well below the $500,000 mark.
Woodlands came out on top as the cheapest neighbourhood to buy into, with the average median sold price at $295,000 between January and May of this year.
Wahi
Glenbrook, Glamorgan, Dalhousie, Southwood, Beddington Heights, Canyon Meadows, Coach Hill, Bankview, and Falconridge were all included in the list.
The most expensive of these affordable neighbourhoods was Falconridge, with the average median sold price sitting at $436,000.
If you’re thinking about buying, you might want to do so sooner rather than later since the site also says, “strong interest from bargain hunters is driving prices higher.”