March 2022 had some impressive increases in Calgary’s real estate market! Let’s have a brief look at some of the numbers.
Home Prices
March’s benchmark selling price of $518,600. While there was a nearly 10% increase in month-over-month prices, March saw an encouraging 17.62% 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
March had 4,107 real estate sales, which is a staggering 41.5% more than March 2021. The inventory for the month sits at 3,364, approximately 19.5% less than 2021.
Conclusion
While there was a dip in year-over-year inventory, March 2022 still saw meaningful increases in the housing market.
Data provided by the Calgary Real Estate Board. For more information, visit their website.