In Fall 2013, MAC Marketing Solutions launched Avenue, a new 319 two-tower community in Calgary. We were thrilled with the response we received to Avenue’s location in the downtown Calgary's West End neighbourhood and are looking forward to another exciting project — Smith by Grosvenor — coming to market this Spring to Calgary’s Beltline.

In fact, the real estate market in Calgary is showing incredible signs of growth. Condominium sales totalled 4,007 homes in 2013 – 14% higher than 2012. The annual benchmark for condo prices in 2012 also rose on average more than 9% over 2012. Immigration, low unemployment, and rising household income have attracted many first-time buyers to Calgary who are weighing the rising rental costs against ownership costs. Calgary’s nation-wide low vacancy rate has caught investors attention as well as the fact that condos prices have not yet fully recovered from their previous highs.

To summarize the growing Calgary urban housing market, MAC has just released the Calgary version of the MAC Intel, our annual summary of significant economic fundamentals that drive a real estate market. Download the Calgary version and if you missed the Vancouver MAC Intel, you can find it here.

Sources: CREB