Recent figures from the Calgary Real Estate Association show that the condo market is not holding up as well as some other housing types in the area. The Conference Board of Canada says that expects the condo market in Calgary to continue to decline with starts, sales volume and prices all forecast to be lower. For 2015 it expects starts to fall to 4,178 units, almost a third lower than 2014; in 2016 it forecasts a further 16 per cent drop before things start to improve in 2017. Resales will drop by more than a quarter this year but should turnaround mildly in 2016. The median price of a Calgary condo will be 2.3 per cent lower than a year ago at $269,583 but will see slight recovery next year before picking up in the following years.
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