The number of homes sold over $1 million in Calgary set records in 2012, and the success of the market is expected to continue in 2013 as well. The rate of increase of luxury home sales in Calgary is occurring at a faster pace than overall residential sales.
The numbers:
• In 2012: 544 homes sold in Calgary for over $1 million
• Previous record was in 2007: 458 homes sold in Calgary over $1 million
• All-time record for luxury sales in one month was May 2012, 80 homes sold over $1 million
Bob Jablonski, CREB President, weighed in on the boom in an article in the Calgary Herald:
“Confidence in the marketplace. Stability. The fact we’re not like the rest of the country. They’re making adjustments as far as prices. And they’re actually getting a bigger bang for their buck. Larger homes are selling for less money than they were back in 2007,” says Jablonski. “They’re getting more house for their money … They’re saying ‘hey it’s a good investment. I can justify spending that kind of money’.” —Read the full Calgary Herald story here.
The RE/MAX Len T. Wong team has an influx of luxury properties on the market right now, to find out more about what’s available, or to inquire about selling your home, contact us.
