Calgary Urban Living Announces March Housing Price Index

CALGARY, Alberta - April 11, 2014 - PRLog -- Calgary Urban Living announced the HPI and benchmark prices for Downtown Calgary condos. HPI stands for Housing Price Index, and it is the best tool to measure the true value of your home.

HPI creates more inclusive and accessible real estate data that can be used to easily compare properties, understand the true value of your home, and better predict market trends.

There is also Benchmark HPI, which is a typical ‘benchmark home’ that has a certain set of attributes. These typical ‘benchmark homes’ differ from community to community.

HPI and benchmark price are calculated using an advanced statistical model that estimates home values based their quantitative and qualitative attributes.

This may include the number of rooms above basement level, number of bathrooms, square footage, lot size, parking, age of property, among many other attributes.

Here are the benchmark prices for condos in the communities of Connaught, Lower Mount Royal, Victoria Park, Cliff Bungalow, Mission, and Downtown.

Benchmark Price - Townhouse

-Connaught - $454,200

-Lower Mount Royal - $723,300

-Victoria Park - N/A

-Cliff Bungalow - N/A

-Mission - $653,000

-Downtown - N/A

Benchmark Price - Apartment

-Connaught - $305,500

-Lower Mount Royal - 298,500

-Victoria Park - $349,000

-Cliff Bungalow - $272,100

-Mission - $265,000

-Downtown - $243,500

For the entire city of Calgary, the average benchmark prices in March were $312,100 for a townhouse and $285,900 for apartments. This is a slight increase of 1.2% from February.

For more information on benchmark prices or Calgary condos, please contact CIR realtor Karim Hassam at 403-689-9594 or at khassam@cirrealty.ca.