Market OverviewAlberta, the rural western Canadian province bordering Montana to the south, has long tethered its fortunes to its largest industries: oil and gas. Year-to-date total home sales in Calgary, Alberta’s largest city, have more than doubled over the same period last year, to 18,147 from 8,972 in 2020, according to a July report from the Calgary Real Estate Board (CREB). The average 2021 home price jumped to $498,201 Canadian dollars ($398,000), up from $452,730 Canadian ($362,000) in 2020, CREB said. “There was a lot of pent-up demand, and we’ve been setting records every month in terms of sales and prices,” said Daniel Kowall, a real estate agent at RE/MAX House of Real Estate, in Calgary. In Vancouver, the benchmark price of a detached home hovers at $1,801,100 Canadian ($1.44 million), the highest in Canada, according to the Real Estate Board of Greater Vancouver.

Source: International New York Times August 18, 2021 13:30 UTC