The market for luxury homes here in Calgary continues to remain strong. When compared to the sales that were occurring last year, this high-end market has been thriving in Calgary throughout 2014.
From the start of this year to the end of March, the luxury market has seen a 17% increase in resales when compared to the numbers reported during the same time period in 2013. Luxury homes are considered to be properties that are valued at $1 million or more.
New home sales for luxury properties were also on the rise this year. In January and February, 8% of the homes sold were in the luxury category compared to 5% during January and February 2013.
The demand for luxury homes continues to grow across the city. These high-end properties are available in suburban developments, subdivisions near the city limits and in established communities. People that are looking for luxury homes are not only interested in the home itself but its location.
Inside the home, there are different luxury features that discriminating home buyers are looking for. Some of the more wanted features include plenty of garage space, home gyms, yoga studios, cappuccino makers that are built-in, ensuites with fireplaces and steam rooms and much more.
With the overall real estate market in Calgary on the upswing, more and more people have the confidence to invest in a luxury property. Homes are expected to rise in value and with the low interest rate that is available right now, the timing is perfect to make a large home investment.
Last year was busy when it came to luxury home sales in Calgary and the pace continues to be brisk this year. This city offers one of the best home resale markets in Canada and Calgary is a fantastic place to call home.