Condo market stabilizing in Calgary

Confidence is slowly returning to the Calgary condo market.

According to new data released Wednesday by Urban Analytics, new multi-family home sales were 11 percent higher in the first quarter of 2017 compared to previous quarter.

Senior market analyst with Urban Analytics, Kimberly Poffenroth, tells 660 NEWS this year is already looking positive compared to last.

“We’ve also seen a few new projects come to market. 2016 was very quiet in terms of new project launches, so that’s another positive aspect of what’s happening in the Calgary market right now.”

Poffenroth says there has been an increase of investors in the market, especially downtown.

New developments going up this year include Park Point in the Beltline and Copperfield Park 3 in the southeast.

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