Correction: January 2016 Calgary Real Estate Report

As I was compiling the stats for the luxury home market, I noticed that the original January report released yesterday incorrectly had recorded a $4M+ sale in the Apartment category.


Condo sale in the $4m+ range?

I re-downloaded the CREB® report today and it appears that the error has now been fixed which has resulted in the average price for the apartment segment dropping considerably, and enough to move the overall Calgary average price lower as well.


Original vs Corrected version

The Apartment average price is now only $281,296 instead of $317,575.    That moves the year-over-year price change from a 3.69% gain to a -8.15% drop.

Overall Calgary prices were affected too.  The average dropped from $459,874 to $453,632 and the median from $409,000 to $408,250.

I’ve uploaded the corrected report in the earlier post, and you can also download it here pdf

One response to “Correction: January 2016 Calgary Real Estate Report

  1. Mike
    Good work – certainly puts the spotlight on why the average price shouldn’t be used for comparisons.

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