Best Performing Calgary Communities (January 2014)

Cliff Bungalow was the only community in January not to register a year-over-year price increase (-2.34%) in the Single Family category according to the MLS® HPI Summary report.

Zone B – predominantly NE Calgary – was the quadrant with the largest y/y price increase (+10.57%) for single family homes.   The benchmark price in Zone B is the lowest in our city, so as buyers look for more affordably priced housing the increased demand in turn squeezes prices higher.  The lower price point also magnifies any percent changes.

Here are the 5 neighborhoods with the largest Y/Y price increase in the Single Family category for January 2014:

  1. Diamond Cove (+25.55%)
  2. Lake Bonavista Estates (+18.14%)
  3. Tuscany (+17.53%)
  4. Erinwoods (+16.79%)
  5. Dover (+16.33%)

To view all the communities along with different property categories such as Apartment and Townhomes, along with time periods dating 1-6 months and 1-10 years back, download:

January 2014 HPI Summary Report pdf

How does it work?  The MLS® HPI  is for general price trends in each housing category while the Benchmark Price is just for the ‘typical’ home in that community as outlined in the Attribute Report.  The HPI is calculated using a sophisticated statistical model that estimates home prices based on their quantitative and qualitative features, including:

  • Number of rooms above the basement level
  • Number of bathrooms and half-bathrooms
  • Square footage for main living and basement areas
  • Whether it has a fireplace and/or finished basement
  • Lot size
  • The age of the property
  • Parking
  • How the home is heated
  • Foundation, flooring, siding and roofing types
  • Whether the property has a waterfront or panoramic view
  • Whether the property has been sold previously
  • Proximity to shopping, schools, hospitals, police stations, churches, sports centres, golf courses, parks, and transportation (including train stations, airports etc.)

Upon valuating these features or attributes, the index and the benchmark price are formulated.

One response to “Best Performing Calgary Communities (January 2014)

  1. Hi Mike:

    I have been reading your monthly HPI Summary Report up to Mar 2014, and it is a very useful tool, but I can’t find the update after this month, can you please tell me where I can find it?

    Thanks in advance!

    John


    Hello John: April 2014, May 2014, June 2014, July 2014, August 2014
    -Mike Fotiou

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