Calgary among leading cities for home price increases

Calgary's resale real estate market was one of the leading municipalities for price gains for single-family detached homes and apartment condominiums, a new study has found.

Point2homes, an online marketplace for home listings, compiled pricing data from 67 Canadian municipalities, examining price changes from 2022 to 2023.

Its findings revealed Calgary was among the top cities for price gains in dollar terms and percentage growth in both segments.

The average price of a single-family detached home in Calgary grew about 12 per cent in 2023 over 2022 to reach $662,250, a net gain of $26,800. The average price of an apartment in the city grew 19 per cent — the largest among all municipalities on the list — to reach $321,400, a rise of $51,600.

By comparison, the average price of a single-family home in Toronto grew 0.4 per cent to reach about $1.525 million, a gain of about $5,500. And the average price of an apartment in Canada's largest city fell about three per cent to $711,200, a drop of about $23,200.

Vancouver's resale market, however, fared among the best in Canada last year.

There, the price of a single-family detached home grew nine per cent to reach about $2.535 million, a gain of $208,858. An apartment in Vancouver was $784,314, rising about 0.4 per cent — an increase of about $3,400.

The Vancouver market's gain in dollar value for a single-family home was the most among all cities, but Sudbury, Ont., saw the largest percentage gain of 15 per cent. There, a home was $422,400 at the end of 2023 up about $55,100 from 2022.

Coquitlam's average price for a condominium had the largest dollar gain of $58,500, or a rise of nine per cent from 2022.