The luxury home market in Calgary continues to be among the top performers in Canada yet again, with an 18% increase in sales of homes over $1 million in the first half of 2014. CREB® states that a thriving economy, high average incomes and an increase in new Calgarians has contributed to the jump in luxury home sales.
Million-plus home sales within city limits continue to rise representing a larger share of total sales activity. - CREB® press release
A breakdown of the luxury home sales activity in the first half of this year shows:
• 462 sales of homes over $1 million
• Luxury home sales represented 3.32% of all home sales in Calgary the first half of the year
2014 represents the first time (over the same six-month period) the share of sales in the $1-million-plus sector were larger than those in prices at $200,000 or less — a testament to the growing importance of Calgary’s luxury sector and to the increasing earning power of Calgarians. - CREB® press release
To read the full press release from CREB®, and to find out more about the luxury home market in Calgary, see this link. You can also contact me at any time.