Highest ever June average price

A record high price was set in June for single-family homes. The average single-family home price hit $527,162, up 7.7 per cent from last year, and eclipsing May’s record of $521,887.

Inventory was low before the flood. It is now seriously low.

Inventory vs sales and price Jun

First time buyers were up 37% compared to the 3-year average, and up 8% compared to last year.

The Calgary Herald has reports of homes selling sight-unseen. “We have seen in the past week properties sell, sight unseen, for families that have lost their homes in the flooding…. It is shifting into a sellers’ market where buyers must buy immediately when a property enters the market or risk losing it to competing offers if they wait. The rental market is becoming non-existent so the families must purchase an alternative.”

Read more: Record month in Calgary real estate

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One response to “Highest ever June average price

  1. Bob,

    What is your opinion on what the flooding means for valuation for the following affected areas: Sunnyside, Elbow Park, Rideau and Roxboro? While the damage was much less in the 2005 flooding it didn’t seem to have a negative effect.

    Homeowners will be willing to accept the risk in order to live in these desireable areas. Unless there’s another flood next year, the flooding will have very little long-term effect. -Bob

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