What is the average price for homes in Calgary? Is it almost at the top or can it go any higher?

Question

What is the average price for homes in Calgary? Is it almost at the top or can it go any higher?

Answer 1

the average price is around 400k - 450k for a new (very basic) house in calgary but i wouldn't expect to see it go too far down.  The price of the house stays close to the same but the dirt its on keeps going up and new developments and construction aren't progressing fast enough to meet demand (strained labour pool out here). Add to that the fact that the current rental situation in calgary has you paying rent high enough (or higher) to be a mortgage payment on your own house and a shortage of avalable rental properties, the demand for housing continues to grow .....

Answer 2

The housing is still high as there are so few houses on the market. You sure arent getting your moneys worth here!

Answer 3

Right now, the market is very much in favour of the seller. Houses that would normally go for around 250k are going for upwards of 4-500k. For something half decent, you're looking at at least 300-350k, but that would be on the low end of decent.

The market is insane at the moment, but big crashes follow big booms, so house prices might get more reasonable in the next year or so.