Calgary Experiences A Significant Boost In Luxury Home Property Sales For 2011

12 December 2011

The luxury property market in Calgary has experienced quite a boost in 2011 as far as demand is concerned as it is drawing close to reaching the upper-end record levels which were set in 2007.

A realtor with Re/Max Real Estate in Calgary has said that the sales for properties that are in the upscale end of the property market are a good indicator of the economy being vibrant and growing in the city. Also, more job opportunities are being made available to people which also serves as a good factor in making people want to move to Calgary.

The Calgary Real Estate Board has also mentioned that from the months of January 2011 through to November 2011, 25 MLS condo sales that go over $1 million have pushed through which makes for a fair improvement compared to the 19 that were sold in the same time-frame from the year before.

As of today, 406 single-family home sales have been that fall within that price point which is also significantly better than that of last year which only reached 326 in total.

The upper-end record levels that were set in 2007 involved a series of luxury home property sales that accumulated a total of up to 431 single-family home sales that fell within the price bracket of $1 million and up. Also sold in that year were 30 condos which were also under that same value bracket.

Confidence has definitely gone up in the local real estate market for Calgary as even oilpatch executives have been showing signs of strengthened faith because of the fact that they feel there is a lot of potential for future projects in the energy sector of the area.

It goes without saying that the people who are showing an interest in the upscale real estate properties that are available on the market are doing so with a particular eye for detail. Nevertheless, the availability of options in the local real estate market’s luxury property inventory make it possible for people to do so with a great selection of high value options.

So far, the top sale prices for single-family home properties in Calgary for 2011 has been $4.525 million within Rideau Park, $3.995 million within Elbow Park-Glencoe, and $3.8 million within Aspen Woods. For condo properties, the values have been at $4.1 million in Eau Claire, $2.935 also in Eau Claire, and $2.05 million in Victoria Park.

The fact that there have been executives relocated to Calgary has made for a very big influence in the current demand for luxury home properties within the area since these individuals tend to have a taste for the finer things in life. Also, young professionals have been growing in numbers which is great as many of these people have set their sights on luxury real estate options for quality and value — something which many believe to be wonderful investments that are truly amazing.