Calgary continues to report high market performance in spite of the traditionally slow winter market
Calgary is currently among the most affordable of the major cities in Canada for real estate, which is particularly attractive given the out-of-control prices being seen in other major markets. According to a recent report, homes in Calgary are actually deeply undervalued. However, according to local realtor Jesse Davies, growth potential in the market means there is still a lot to look forward to.
According to the Calgary Real Estate Board’s (CREB) new statistics release for the month of November, the average price of a detached home in the city was $542,600, up over 10% year over year. Semi-detached homes averaged $429,800 and apartments averaged just $251,700 with the lowest year-over-year increase. In addition, despite winter being seen as a traditionally slow season for the city, according to CREB sales have remained strong at “roughly the same levels seen since August” while inventories continue to fall.