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Calgary luxury home market sets another record

By Mario Toneguzzi, Calgary Herald April 28, 2014
CALGARY - Chalk up another monthly record for Calgary’s booming luxury home market.


According to Mike Fotiou, associate broker with First Place Realty, the city has already established the record for MLS sales in April of properties sold for more than $1 million as 65 transactions took place during the month between April 1-26. That eclipses the previous April record of 64, which was set last year.


“Every month so far in 2014 has set a new monthly sales peak,” writes Fotiou on his blog.


Here’s an interesting fact. In 2004, there was only one luxury home sale in April. During the overall housing boom in 2007 and 2008, there were 33 and 44 sales respectively during April.


The luxury home market in the city is continuing from the stunning record pace it set in 2013.


Calgary’s resale market had 732 MLS transactions of $1 million plus in 2013, up from the previous record of 544 in 2012.


According to a RE/MAX report earlier this year, luxury home sales in Calgary have increased by 115 per cent since 2009.


Last year, Calgary had the highest sale price ever at $11.1 million for a home in the Crescent Heights neighbourhood.


Calgary had 10 consecutive months of new monthly records in 2013 with the exceptions of January and December


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