Wondering what is really happening right now with Calgary's home prices?
Single family home benchmark price down a modest 1% from the beginning of the year with apartment style condo benchmark price down just 2.71% from one year ago. That's a very small price correction in the bigger picture, after last years 9% increase in value!
In Calgary benchmark prices declined 0.7% from the previous month and 1.2% from the same time last year to $453,100. The aggregate prices in both the detached and attached sector we moderate. More than half of detached sales in October occurred below $500,000 where demand is relative to supply remained relatively tight. This offset some of the price losses in the higher end segments. The steepest decline occurred in the apartment sector due to added competition from several new apartment projects and improved vacancy in the rental market.
The Calgary detached benchmark price for October is $513,800 a decrease of 0.66 % year-over-year. The apartment benchmark price is $288,300 a decrease of 3.93% and the attached benchmark price is $354,100 a decrease of 0.59%. Overall sales for the month totaled 1,421 units, compared with 2,130 during the same period last year.
Airdrie’s inventory increased to 350 from 344 units, sales decreased by 25 to 93 for October. The benchmark price for October is $370,400 a decrease of $1,700 from last year. Overall sales for the month totaled 93 units, compared with 160 during the same period last year.
Call Jeff Campbell 403-275-3331