Calgary’s resale condo market gathered strength from January to March. Sales nearly doubled, going from 225 transactions in January to 446 by the end of March, says the Calgary Real Estate Board. “The Calgary market is slowly shaking off the winter blues,” says board president Bonnie Wegerich.

For the first quarter of the year, 1,011 condos changed hands, up from 886 for the final three months of 2008.

As for prices, they are running about 10 per cent below the same period a year ago, but are showing signs of “stability,” says Wegerich.

Area C, which covers the city’s southwest, was the most active of the four areas for the opening quarter, posting 551 sales.

The busiest community in the area, as usual, was Connaught which posted 58 sales at an average price of $281,164.

Close behind was Victoria Park, where 53 sales averaged $290,547.

The priciest condos in the area were found in Eau Claire. There six units sold at an average of $860,500. Aspen Woods had five deals that averaged $510,712.

In the northwest quadrant, designated Area A by CREB, the busiest neighbourhood was Panorama Hills with 41 sales and an average price of $214,017. As a whole, the area had 295 sales. Tuscany and Country Hills Village each posted 19 sales, with average selling prices of $292,378 and $247,573, respectively.
Varsity Estates had the highest average price, checking in with $497,500 on a pair of deals. Hillhurst had eight sales that averaged $496,362.

The level of activity in Area B, which includes the northeast and some of the southeast, was quiet during the quarter with just 49 condos changing hands.

On the sales front, Taradale had seven sales and an average price of $237,671. Next was Rundle with six deals at an average of $182,250.

The highest average selling price was in Saddleridge, where the one sale there fetched $287,500. Taradale was the second priciest.

Area D covers the remainder of the city’s southeast.

There, McKenzie Towne had the most sales for the quarter — 32 at an average price of $252,415. Lake Bonavista had 12 sales averaging $257,324.

In total, area D recorded 116 sales for January to March. The inner-city community of Inglewood registered the highest average price at $334,250 on eight sales.

A single sale in Sundance brought $330,000.

“As we enter the spring market, sellers seem serious about pricing their homes competitively,” says Wegerich.