Calgary Luxury Homes Sales Growth 2012
- January 13, 2013
- By Cody Battershill
Calgary Luxury Homes Sales Growth 2012
In 2012 Calgary's luxury home market has seen the largest growth out of all the luxury home markets in Canada.
A consistent Albertan economy, continued investments into the province and diversifying industries outside oil and gas are only a few reasons why Calgary luxury home sales are on the rise.
While there are many jobs available in the energy sector, other job opportunities in booming industries apart from oil and gas have promoted inbound migration from all over Canada, as well as from international communities. Not only are there migrants coming to Alberta, companies from other places in Canada and the world are making the trip as well.
Given these strong economic fundamentals, low interest rates and increased migration to the city, the demand for Calgary luxury homes both from local and international sources is once again expected to increase in 2013.
2012 vs. 2011 vs. 2007 - Luxury Homes Sales Stats
- July to December 2012 listings more than $1 million increased 38 percent over the same time period in 2011
- July to December 2012 home sales of more than $1 million increased 21 percent over the same time period in 2011
- Days spent on the market for the last half of 2012 increased slightly to 66 days over 2011
- Percentage of homes sold over the asking price decreased slightly to 5 percent over 2011
- 2012 saw record sales for listings over $1 million with 544 transactions, beating out the previous record of 458 units from 2007 and eclipsing 446 luxury home sales seen in 2011
- In 2012 there was 1,533 luxury homes listed for more than $1 million in Calgary. 1,408 were single-family homes and 125 condominiums
- In 2011 there was 1,352 luxury homes listed for more than $1 million in Calgary. 1,253 were single family homes and 99 condominiums
- During the housing boom of 2007, there was 1,242 luxury homes listed above $1million. 1,159 were single family homes and 83 were condominiums
See a complete list of Calgary Luxury Homes and Communities
For more real estate statistics, read our Calgary Real Estate Market Update December 2012
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