Just two spots around Calgary offer house prices below $600K

If you’re having trouble buying a house in the city, there are a couple of areas near Calgary you might want to set your sights on instead.

A new report from the Calgary Real Estate Board (CREB) has found that housing sales in Calgary declined heavily in June. Sales reached 2,738, which is 13% lower than last year’s record high.

The drop is mostly due to the rising cost of what used to be more affordable properties.

“The pullback in sales reflects supply challenges in the lower price ranges, ultimately limiting sales activity,” says Ann-Marie Lurie, Chief Economist at CREB.

“Inventory in the lower price ranges of each property type continue to fall, providing limited choices for potential purchasers looking for more affordable product. It also continues to be a competitive market for some buyers with over 40% of the homes sold selling over list price.”

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The benchmark home price in Calgary is now $608,000, but there are some areas just outside the city where you can get a home for less.

CREB

The benchmark price for a home in Airdrie is now $554,500, well below Calgary’s. If you’re planning on buying a property in this region, though, you might want to move quickly since prices are also on the rise.

Some Calgarians have also been flocking to the picturesque area of nearby Cochrane. Prices there are slightly higher than in Airdrie, with a benchmark price of $571,100. Both areas have seen strong demand for apartment-style units, which are also the most affordable properties overall.

You might be tempted to look south of the city, but if you’re looking for affordable living, you’ll probably want to look elsewhere. The benchmark price for a home in Okotoks is $615,800, landing higher than Calgary’s.