The guys at Newinfills published some interesting market info. As is the norm over the past four years, inner city townhouse sales via mls are terribly low at just 52 units 2024. This contrasts with the appearance of inner city townhouse building seemingly everywhere in quantities vast enough it would be hard to count. While most supply is purpose built rental, perhaps in a catchup quantity now to create a market glut, the 52 sales just represents what hit the actual market. I’m sure some at least pre-sold or sold off market so the mls data is quite void of context. The mls data seems incomplete at best. The crazy thing is if the city would just hurry up and approve some more projects, even one additional completed and sold spec townhouse sold on the mls would represent 10% of the total annual yearly sales! I just can’t comprehend how much the permit times can actually influence units hitting the market. This should be a strong red flag to the city leadership to ‘deal’ with some of its internal divisions that are ‘bad actors’. City of calgary needs a doge!
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