July’s housing market in Calgary slowed down, but still saw a notable increase in year-over-year home prices. Let’s have a quick look at some of the other statistics for the month.
Home Prices
For the month of July, the benchmark sales price in Calgary was $540,000. There was a 0.5% decrease in month-over-month prices, but July had a solid increase of 12.3% 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
July had 2,254 real estate sales, which is around 2.6% less than last year. The inventory for the month sits at 5,338, which is roughly 20% less than July of 2021.
Conclusion
July’s housing market in Calgary saw some slowdowns but still had a notable increase in year-over-year home prices.
Data provided by the Calgary Real Estate Board. For more information, visit their website.
