The market in Calgary for the month of August saw both increases and decreases in year-over-year prices.
Home prices in August increased by 0.5% month-over-month and by nearly 8% year-over-year, hitting a benchmark price of $570,700.
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
This August, sales increased by nearly 28% compared to August of 2022, reading 2,729. Inventory for the month decreased by 32% compared to last year, sitting at 3,254.
Data provided by the Calgary Real Estate Board. For more information, visit their website.