Due to current economic conditions, it is not surprising that single-family homes were more affordable in Calgary over the first two months of 2016 compared than the same time a year earlier.
The benchmark price (a typical home based on a formula that uses various factors to ensure accurate comparisons) dipped approximately $15,000 to $506,200 from $521,950, says CREB®. The benchmark price in Calgary’s city centre was the highest through the first two months of 2016 at $659,950. It was followed by $695,450 in south Calgary, $539,750 in the northwest, $458,350 in the southeast and $444,000 in the north. Then there was the northeast with a $397,250 benchmark and $356,200 on the east end.