The property types that purchasers are interested in are shifting. People are purchasing more condominiums and townhomes than they did a year ago, while purchasing fewer detached and semi-detached houses. The benchmark price of the Calgary Real Estate Board increased 25% in two years and 11% year-over-year to $527,400, providing insight into the market trend. High costs and limited supply for detached and semi-detached homes have driven purchasers toward row and apartment dwellings, according to these figures. Total sales in August 2022 were 12% fewer year-over-year, while average house prices in Calgary have risen 5% annually. Thus, Calgary’s overall sales volume declined by 7% year-over-year to $949.5 million. On average, residences in Calgary sell for 98% of their market price.

As another pricing signal, we can also consider the fact that the median price of a home in Calgary has increased by 8% annually and 4.9% monthly to $460,000. In addition, year-to-date data indicates that Calgary’s benchmark real estate prices have climbed by 14%, hitting $532,100. In September, detached and semi-detached property prices grew by 10.5% and 9.5% annually, to $638.8k and $509.1k, respectively. Similarly, row home and apartment prices grew by 8.8% and 20%, respectively, year-over-year, to $343.9k and $308.6k.