Although inventory dipped, there were notable increases in year-over-year home prices and sales in September.
Home Prices
Home prices in September increased almost 9% compared to 2022, sitting at a benchmark price $570,300 for 2023.
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
Sales in September reached 2,441, which is a meaningful increase of nearly 29% compared to last year. Inventory for the month decreased by 24.5% compared to 2022, coming in at 24.5%.
Data provided by the Calgary Real Estate Board. For more information, visit their website.
