February 2023 reached the lowest February inventory since 2006. Here is a brief look at more market stats in Calgary for the month.
February 2023
Home Prices
February’s benchmark sales price reached $530,900, which is nearly 2% more than January and 1.5% more than February of 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
There were 1,740 sales in February, which lowered 47.2% from February 2022. Inventory for the month reached 2,750, which is 23.8% less than 2022.
Conclusion
Although inventory and sales dipped in February, we see meaningful increases in home prices both month-over-month and year-over-year.
Data provided by the Calgary Real Estate Board. For more information, visit their website.
