The first quarter of this year has shown that luxury home sales in Calgary are not only on an upward trend, but in fact booming.
Last month the luxury home market in our city actually set a new record for that month, with the most number of MLS properties sold for over $1 million—74 to be exact. In the first quarter of 2013, 171 luxury homes have been sold, a 50% increase from the same period last year.
According to a Calgary Herald story:
Don Campbell, senior analyst and founding partner of the Real Estate Investment Network said that despite the negative sentiment in business confidence by Alberta entrepreneurs, “the real indicator of economic confidence is how people use their pocketbook.”
“With the continued strength in the luxury market, we are witnessing a continued high level of long-term confidence in the business community.” Read full story here.
This upward trend in luxury homes is great news for the real estate market in Calgary, as well as our economy, and should continue into the second quarter.
If you're interested in seeing what luxury homes are on the market right now, check them out here.