June was another record month for Calgary's resale housing market.
Data released by the Calgary Real Estate Board indicate average MLS sale prices for both the overall market in the city as well as for single-family homes were the highest ever.
The overall MLS average sale price in the city reached $466,458, up 5.6% from last year, eclipsing the record of $462,076 which was set in May.
In June, the average single-family home price hit $527,162, up 7.7% from last year.
Lurie, chied economist with CREB, said that until the full extent of the damage from the flood is known, it is diffucult to accurately assess the full impact this will have on the city's housing market. The tighter market conditions are placing upward pressure on pricing in all city sectors, while the areas affected by the flood may face some short-term impacts on pricing, any adjustments occuring are unlikely to outweight on the overall city wide price.