A booming luxury market, and tight overall conditions with listings not keeping pace with demand, has pushed Calgary house prices to unparalleled levels.
Average sale and median prices hit all-time records for the city in 2013 for both single-family home and in the total MLS transactions category, according to data released Thursday by the CREB.
The average sale price for total MLS hit $456,703 for the year, up 6.54 per cent from 2012, while the single-family average price boosts by 7.61 per cent to $517,887.
The median sale price for total MLS was $401,000 and it was $450,000 for single-family homes. The median price up by 5.53 per cent from the previous year for total MLS and it was a 7.14 per cent hike in the single-family market.
Also, December capped a strong year for the residential real estate market with the highest-ever monthly average sale price at $527,764, eclipsing the previous record of $526,546 set in June 2013.