Calgary Resale Housing Market Sets All-time Record for Average Sale Price



According to the Calgary Real Estate Board, the average MLS sale price for a single-family home during the month was $518,452, up 10.30 per cent from last year while the average price for overall MLS sales in the city was $457,120, up 7.46 per cent year-over-year.

The past single-family home record high for average sale price was $506,671 in July 2007 and it was $452,589 in July 2007 as well for overall MLS sales in the city.

Total Calgary MLS sales of 1,711 in February were down 1.21 per cent from a year ago while single-family home sales drop by 5.62 per cent to 1,209.

In the condo apartment category, sales boost by 13.41 per cent to 279 but the average sale price dipped by 0.40 per cent to $287,830.

And in the condo townhouse sector, sales were up 8.78 per cent to 223 and the average sale price increased by 8.50 per cent to $336,406.

Benchmark prices, which CREB reports as typical properties sold, rose in all housing categories: total residential, 8.25 per cent, $396,100; single-family, 9.31 per cent, $442,500; condo apartment, 5.95 per cent, $252,900; and condo townhouse, 4.62 per cent, $283,000.

Prices during the month were buoyed by very strong activity in the luxury home market.

According to Mike Fotiou, associate broker with First Place Realty in Calgary, there were 63 properties that sold for $1 million or more during the month, a 50 per cent hike from last year, and a record amount for a February.

The month also had the $10.35 million sale of a home in Aspen Woods which set the all-time record for an MLS sale in the city.

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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
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