Calgary home prices up by 15% in 2024 [Video]

It became a lot more expensive to buy a home in Calgary this year, new data suggests.

According to a report from calgaryhomes.ca, which analyzed statistics from the Alberta Real Estate Association and Canadian Real Estate Association, Calgary witnessed the largest increase in home prices between 2023 and 2024.

“The average house price in February 2023 was $506,655, which rose to $583,160 in February 2024; this is a percentage increase of 15.1 per cent,” officials said in a news release.

• The information you need to know, sent directly to you: Download the CTV News App

The second priciest community in Alberta, according to the report, is Medicine Hat.

Calgaryhomes.ca said the average house price of a home in that southern Alberta community in February 2023 was $298,802.

It’s now increased by more than 14 per cent, sitting at $341,232.

“There are a number of factors that could account for the significant increase in house prices in Alberta,” …