A Calgary luxury home was recently sold for five million dollars. That might seem like a pretty penny, but let's consider the prices of luxury real estate around North America. Dallas Texas, for example, often has eight-figure prices topping out its high-end range and Denver CO has seen homes sell up to $12,075,500 USD in the past year, despite the significant decreases in American real estate values.
Across the country, high-end real estate prices eclipse those of Calgary every day. Our great city is conspicuously absent from a recent list of the top ten most expensive homes in the country. In fact, there are no properties from any province outside of BC, Quebec, and Ontario. This is not necessarily a bad thing, however. Lucky Calgary real estate owners might just have reason to believe that they will be enjoying a stable investment when the inflated prices of their coastal counterparts inevitably decline.
It's hard to decide what's more surprising: that five million was the highest-grossing sale this year in Calgary, or that the market for luxury real estate just keeps growing. When compared to 2010, this year's Calgary luxury property market has increased by over seventy sales. It's not just single-family homes that are accruing value. Calgary's luxury condo market is also doing well, with six more condo sales in the seven-figure range, compared to last year.
Calgary's luxury homes present a great investment value, compared to other national markets, and a tremendously gracious lifestyle. And when you live in Calgary, what's not to love, with an ever-growing job sector, relatively clement winter weather (thanks to chinooks), and a vibrant cultural scene? If ever there were a time to buy a luxury home in Calgary, it's now.