Detached home prices drop across Calgary
Northeast and East Calgary see the steepest declines as benchmark prices fall year-over-year citywide.
Detached home prices fell across Calgary in May, with some neighborhoods experiencing drops of more than six percent, according to the Calgary Real Estate Board's latest monthly report.
The city's detached home benchmark price recorded a 2.41 percent year-over-year decline to $747,800. The northeast saw the largest drop at 6.96 percent, with benchmark prices falling to $563,900. East Calgary followed with a 6.78 percent decline to $489,100, making it the least expensive area of the city. North Calgary recorded a 5.05 percent decline, with benchmark prices at $647,200.
West Calgary, the most expensive area, saw the smallest decline at just 0.19 percent, with benchmark prices reaching $1,005,200. On a month-over-month basis, prices increased in many parts of the city, with the southeast leading at a 1.08 percent jump to $704,200.
Other home types also showed year-over-year declines. Apartments saw the largest drop at just over nine percent to a benchmark price of $300,400, followed by row-style homes down 6.4 percent to $422,300. Semi-detached homes similarly declined across the city.