Calgary’s Luxury Home Market on Track to Break Sales Record

New 2014 Sales Record for Calgary's Luxury Home Market?

After a record year of luxury home sales in 2013, statistics for the first six months of 2014 are pointing towards one thing for Calgary’s luxury real estate market.

That is, of course, another record-breaking year if sales activity continues on the high note it is now.

Encouraged by a thriving economy, high incomes, employment growth and strong inbound migration, it’s no surprise that more people are choosing to purchase luxury homes priced at $1 million or more.

More people have confidence in Calgary’s real estate market as it has been consistent in comparison to some other regional markets in Canada and North America.

City Statistics

The Calgary Real Estate Board (CREB) reports that the 462 million dollar listings sold in the first six months of 2014 surpassed the 391 seen over the same time frame the previous year - a 17 percent increase.

If sales continue to keep up this pace, it is very likely that the Calgary luxury home market will break the all-time record set in 2013 of 727 million dollar listings.

As a matter of fact, May and June of this year set their very own record highs for any month ever with 94 and 104 million dollar listings sold.

City + Rural Statistics

And these sales statistics don’t even include those high-end luxury areas located outside of the city limits. Areas like Bearspaw, Springbank and other rural locations with exclusive million dollar properties that are also seeing many sales of their own.

Over the first six months of 2014, Calgary and its rural areas combined for 660 total $1 million plus home sales - that’s 123 more than the 537 seen over the same time frame in 2013.

May and June were also record setting months for both city and rural with 148 and 141 units sold. The total record for any year is 1,010 units.

Condo Statistics

On the other hand, sales of million dollar plus  condos have dropped 25 percent over the first six months of 2014 to 15 total sales.

However, with a number of brand new luxury condos coming soon to Calgary’s inner city and downtown areas, all that is expected to change in the months ahead.

Thinking of buying a luxury home in Calgary? Check out our complete Calgary Luxury Home Buyers Guide today!

Also, be sure to check out out complete list of Calgary Luxury Communities today!

Questions about Calgary Luxury Homes?

As an experienced REMAX Real Estate Professional, I will provide you with only the best level of service and expertise the industry has to offer while catering to all your real estate needs.

Call me anytime at 403-370-4180 or message me below, I am looking forward to helping you accomplish your real estate plans!

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