Calgary Urban Living Announces April Housing Price Index

CALGARY, Alberta - May 9, 2014 - PRLog -- Calgary Urban Living announced the HPI and benchmark prices for Downtown Calgary condos for the month of April. 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.

Benchmark HPI is another beneficial tool for buyers and sellers. Benchmark HPI 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 - $444,200

Lower Mount Royal - $710,100

Victoria Park - N/A

Cliff Bungalow - N/A

Mission - $656,800

Downtown - N/A

Benchmark Price - Apartment

Connaught - $312,500

Lower Mount Royal - 305,600

Victoria Park - $349,900

Cliff Bungalow - $273,000

Mission - $267,000

Downtown - $242,900

For the entire city of Calgary, the average benchmark price for townhouses in April totalled $316,100, while the benchmark price for apartments totalled at 290,200. This is a slight increase of 1.3% from March.

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

Information provided is based on general trends. Please contact your realtor for information regarding your specific situation.