Similar to Edmonton, Calgary’s market in August has cooled down. We’ve compiled some of the numbers for you here!
The benchmark sales price in August was $531,000. There was a slight 1.6% decrease in month-over-month prices, but August 2022 had a meaningful increase of 11% from 2021.
What is a benchmark price? The benchmark price is the estimated value of a “typical” home in a community, based on the most popular combination of features, e.g. age, size, number of bedrooms and bathrooms.
Sales and Inventory
August sales sit at 2,718, which is a 3.7 decrease from last year, while the inventory for the month was approximately 4,778, which is 21% less than last year.
Calgary’s market in August has cooled off, although the benchmark prices have increased in the last year.
Data provided by the Calgary Real Estate Board. For more information, visit their website.