The housing market in November has cooled off compared to 2021; here are some of the numbers.
The November benchmark sales price came in around $520,000, and while that is a 0.5% decrease from October, it is a considerable 8.6% increase from November 2021.
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 1,648 sales in November, which is a decrease of 21.8% compared to the year prior. The inventory for November 2022 decreased by 20.9% compared to 2021, coming in this year at 3,109.
The housing market in Calgary softened out in almost every category, with the exception of year-over-year benchmark prices.
Data provided by the Calgary Real Estate Board. For more information, visit their website.