Posted May 05, 2018 08:24:00 The average price of a detached home in Calgary has jumped 5.6 per cent over the past year, according to a new real estate survey.
The report from CBRE Group says the average price rose 5.3 per cent in Calgary in 2018.
The average price for a one-bedroom apartment rose 3.9 per cent, the report shows.
The market is expected to return to normal next year, with the median price for new listings increasing 5.9 cents.
The number of new listings in Calgary rose 7.2 per cent last year, a jump of 2.9 times over 2018, according the report.
The median price of new houses rose 2.6 times, while the median for condos rose 1.9.
The study says Calgary’s median home price rose by $1,818, but the average home price for buyers rose $2,852.
The average sales price rose 3 per cent to $4,942.
The survey found that new listings increased by 6.4 per cent year-over-year in the city.
The market is forecast to return in 2019, with a median price at $1.25 million.
The new listings were mostly single-family detached houses.
The study says the median number of sales for condos was 3.6.