Calgary Real Estate Market Update – September 2023

The Calgary market continues to build wealth for all that own property here. In August, we saw prices increase by about 7.4% from this time last year, with total sales up by nearly 28%. That’s really healthy growth, and about the same numbers we saw in July with about 2,600 homes changing hands.
Breaking things down a little further, Detached homes have pushed through the $700,000 barrier, with an average price of $709,000, an 11% increase from this time last year and up a cool $120K from August 2021. Wow! Semi-detached properties grew at about the same rate, 11%, and now sit at an average price of $580,000, which is basically the Detached price from two years ago, which is also kind of a crazy thing to see in our market. But that’s not all folks! The Row townhouse market is also making huge gains – up 22% – twice the rate of growth as the free hold segments, to sit at $419,000.
We’ve long felt that the Row townhouse segment was really great value here in Calgary and the word is getting out and we’re starting to see that sector catch up to attached pricing. Our feeling is that it’s being driven by the activity within the Condo/Apartment segment, which is also posting double digit gains, up 15% from this time last year!

But is Calgary’s still affordable? Watch the full video to get our take.

🏠 If you are looking for specific information relating to your own Home Buying or Home Selling decision, please contact us (information below) for a No-Obligation Strategy Call. ☎

00:00 – Intro
00:20 – “Fearless” Real Estate Event
01:02 – August Market Summary
03:07 – Housing Affordability
04:34 – Buying vs. Renting
06:36 – Calgary still an affordable option
07:27 – Rent vs. Buying Statistics

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Redline Real Estate Group is a top Calgary real estate group. Our firm is unique as we have a Real Estate Investing division along with a New Home Build division. We have some of the top Realtors in Calgary, as well as a team of marketing experts to provide our real estate clients a complete firm behind their real estate buying and selling.

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Did you miss our previous article...
https://trendinginrealestate.com/real-estate-trends/mortgage-rates-explode-cpi-hot