The Calgary seasonally adjusted resale home benchmark prices have been holding strong in October! The provincial benchmark price was $462,500 in October, down 0.5% from September and down 2.4% from the peak price reached in April 2022. The national benchmark price of $756,200 was 10.0% lower than the peak reached in February 2022 ($840,000). Calgary is seeing strong fundamentals including record net inter-provincial migration, job diversification, oil&gas recovery and a lot more so we are not surprised to see this and we continue to believe Calgary is one of the best markets to invest in right now.
*The MLS® Home Price Index (HPI) model is used to calculate benchmark prices in key Canadian markets. A “benchmark home” is one whose attributes are typical of homes traded in the area where it is located and includes single family homes, townhouse/row units and apartment units.