The Calgary housing market was hot for the month of February! There were some meaningful increases in sales and home prices worth noting, read on.
Home Prices
February’s benchmark selling price of $499,000. While there was a nearly 6% increase in month-over-month prices, February saw a meaningful 16.1% increase from 2021 to 2022.
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
February brought in 3,505 real estate sales, which is a whopping 80.5% more than February 2021. The inventory for the month sits at 3,600, about 20.4% less than 2021.
Conclusion
While there was a decrease in year-over-year inventory, February 2022 still saw significant and important increases in the housing market.
