Calgary real estate CREB The average price of home in Calgary reached a record $466,458 in June, a 5.6 per cent increase from the same month last year.

The latest data from the Calgary Real Estate Board (CREB) also shows there were 2,317 total MLS sales in the city in June, an increase of 5.51 per cent from last year.

Single-family homes

The average price of a single-family home hit $527,162 last month. This was a 7.7 per cent increase from the previous record of $462,076 set in May. Single-family home sales rose by 2.06 per cent year-over-year to 1,638.

Condos

The average price of a Calgary condo fell 0.35 per cent from a year earlier to $301,192. A total of 362 condos were sold in June.

Townhomes

The cost of a townhome in Calgary jumped by 5.14 per cent to $341,518 last month. Sales also increased from 252 in June 2012 to 317 in June 2013.

For more, you can view all the CREB stats here.

Flooding and the Calgary housing market

It’s also important to continue to note, as chief CREB economist Ann-Marie Lurie has, that the floods in Southern Alberta will affect the housing market.

“In the short-term, we anticipate that the levels of listings will fall, and any transactions that do move forward in the impacted areas will face some price discounts,” Lurie said in a statement Friday.

“However, increased demand in the unaffected areas, combined with already tight supplies, would support further price gains. This will offset any declines recorded in the impacted areas,” she said.

Photo: stephenccwu/Flickr

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