The Not So Hot Calgary Condo Market
Lost in the media hype is the ability to recognize there are many different real estate markets and they are never in total alignment with each other.
We have the overall market which is the one that gets the media all excited from time to time but actually distorts the true picture.
Here's one example of that media distortion in Calgary as it pertains to the condo Market.
In the past three years, the highest percentage of condo sales vs condo listings never exceeded 23% on a monthly basis. So what happened to the other 77% that didn't sell? The media has more people convinced it's a hot market for Calgary Condos when in fact the market is terrible. Calgary Condo sellers have a less than 1 in 4 chance of selling in any given month.
The numbers do not lie or need to sell newspapers.