Luxury Calgary Home Market Continues to Boom

Posted by Justin Havre. on Monday, May 5th, 2014 at 8:01am.

The luxury housing market in Calgary was booming during the month of April. The warmer spring weather has sent a lot of buyers out to shop and many have been looking for luxury homes that are worth $1 million or more.

In April, 79 sales took place in the Calgary luxury sector with 4 condos selling and 75 single-family house sales occurring. This was a rise of 23.4% when compared to the sales of luxury homes that transpired last year. On a month-over-month basis the number of sales that took place was the same. In March there were 79 high-end home sales as well.

The figures in April in this housing sector were the third highest that were ever recorded for the month. The overall record set for luxury homes was reached in May 2013 when 83 high-end homes passed hands. The second-highest month for sales was recorded in May 2012 when 80 homes were sold.

The most expensive home sale took place in Mission in the condo project "The River". It sold for $3.19 million. The highest number of sales was recorded in the Pump Hill community with 5 transactions recorded. Elbow Park/Glencoe, West Hillhurst, Altadore/River Park, West Springs and Springbank Hill all had 4 luxury home sales.  

Since the beginning of 2014, up until the end of April, there were 265 high-end condos and single-family units sold. This was up 12.8% when compared to the same time last year. The highest selling price for a Calgary single-family home so far this year was $4.97 million in Elbow Park/Glencoe. The highest priced condo sale was $3.19 million, which occurred in Mission during April.

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