Luxury condo market sales in Calgary on the upswing

There has also been some positive movement this year in the high-end single-detached market, says a report from RE/MAX

Mario ToneguzziSales in Calgary’s luxury condo market are on the upswing compared with a year ago, according to the 2018 RE/MAX Spotlight on Luxury Report released on Tuesday.

The report found that condo sales for 2018 up until the end of September rose to 36 in the $1-million to $2-million range compared with 35 sales for the same period in 2017. In the $2-million to $3-million range, sales jumped from one last year to four this year. And above $3 million, there was only one sale this year – the same as in 2017.

In the single-detached market, sales in the $1-million to $2-million range fell from 473 last year to 417 this year. But the $2-million to $3-million range saw an increase as sales jumped from 32 last year to 42 this year.

There was also a hike in the $3-million-plus category with 13 sales so far in 2018 compared with 11 for the same period in 2017.

The most expensive condo sold this year was for $3.025 million, down from the most expensive condo sold for the same time period last year of $6.5 million.

The most expensive single-detached home sold this year was $5.495 million, which was also down from a year ago’s top sale at $6.499 million.

Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald, including 12 years as a senior business writer.


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