Home prices were on the rise for the month of March in Calgary, and we saw a favourable seller’s market! Here is a round-up of some of the numbers for March of 2023.
March 2023
Home Prices
The benchmark sales price for March came in at $541,800, which increased by 2% compared to the previous month and nearly 1% compared 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 brought in 2,432 sales for the month, about 40% lower than March of 2022. Inventory also decreased by nearly 27% in year-over-year prices.
Conclusion
While there were dips in year-over-year sales and inventory prices, home prices increased, and the market favoured home sellers in March.
Data provided by the Calgary Real Estate Board. For more information, visit their website.