The rent prices in real estate in Calgary, in the Alberta region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in Calgary has had a strong fall during the last 6 months. In October, the average price per sq.feet was $3.11. In the following month the price per sq.feet fell to $2.81. The price for the following two months in (December, January) had a considerable fall of 82 with regard to the previous two months. The price per sq.feet has fallen 88 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $2.7 to $2.38 during February, and March.
When referring to the price in Calgary (cities), there have hardly been any changes in the last 6 months. In our first sample month during October, the average price is $1,824. In November This price remains at $1,765. In the following two months the average price has hardly changed with regard to the previous two months from $1,794.5 to $1,751.5. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of $1,773 and $1,774.5 between February and March.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of $1,783 they are 9 % more affordable than the average price for Calgary . The properties with the highest average price have 4 bedrooms, Their price is 67 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,485.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.8 / sq.feet, with an average $2.31 / sq.feet price in Calgary. The properties with the most expensive average prices have 1 bedroom. They are 47 % more expensive than the average followed by properties with 2 bedrooms with a price at $2.69 / sq.feet.
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of $1,783 it is 21 % more affordable than the average price in Calgary. "Land" is seen as the second most affordable property type. The most expensive property type is "Condo" followed by "Townhouse". At a price of $2,266 it is 29 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Land" at an average price of $1.55 / sq.feet followed by "Condo" priced at $2.48 / sq.feet. "Townhouse" is the most expensive type of property with a $8.42 / sq.feet value followed by "House" with an average price of $2.74 / sq.feet.