According to a new report released today from RBC Economics Research, Calgary continues to be one of the most affordable housing markets in Canada. Looking at their affordability measures, Calgary compares well against both the historic and national pricing averages. The average re-sale home price has slowly increased since the start of 2013 with much of this increase due to the success of the Luxury Homes Market in Calgary. However, despite the sales price increase, Calgary buyers are continuing remain to benefit from Alberta economy trends such as a strong economy, rapid population growth and the increase desirability of Calgary.
According to the Calgary Real Estate Board, thus far in 2013 there has been 9,170 MLS sales in Calgary, which is up over 3.5 % from last year. The average price of a home for sale in Calgary is $453,654. The higher home prices didn’t hurt the overall Alberta housing market as the strong household income helped off-set these elevated prices.