Quote:
Originally Posted by Acey
I have a bit of inheritance money and I'm in the market for a 2 bedroom condo. Is now a good time in north Calgary or Airdrie?
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Not investment advice, but I think this is probably a good time to buy a condo.
The price of single detached has gone up significantly. That is absolutely going to start pushing people who can't afford houses into condos instead (increasing demand). It is also going to start pricing people out of upgrading from a condo to a SFH (reducing supply).
Relatively speaking it's probably better timing for a condo than a SFH - one of these is up big recently and one isn't. On average a SFH is probably better for appreciation over the long run, because more of the value is land (which appreciates) vs building (which generally doesn't). But SFH just got a big slug of appreciation in one go - so it doesn't seem unreasonable to expect condos to catch up a bit.
Especially if that is your preferred option for price/lifestyle options, this could end up being a pretty good time to buy.