Photo: Doug Zwick/Flickr
Calgary’s real estate market remains the hottest in the country, with 2,336 homes changing hands in July, an all-time record for the month (previous high of 2,273 was set in 2005).
According to the Calgary Real Estate Board, home sales were up year-over-year for all housing types except in the single-family home sector, which saw a slight decrease of -1.27 per cent in the number of sales.
July also saw the average sale price climb 4.85 per cent year-over-year to $482,487, the median price rise 6.52 per cent to $425,700, and the benchmark price — the price of a typical home in Calgary — jump 10.89 per cent to $459,200.
One million dollar home sales soar
Calgary’s luxury market also set a new record in July, with 80 homes priced over $1 million sold during the month (75 single-family homes and five condo units). According to data from Mike Fotiou, associate broker for First Place Realty, year-to-date sales of million dollar homes totaled 542 at the end of July, an increase of 18 per cent compared with the same period last year.
Indeed, Calgary is on pace to easily break the 2013 record of 727 luxury home sales for the entire year.