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.

calgary condo market

The views, opinions and positions expressed by columnists and contributors are the author’s alone. They do not inherently or expressly reflect the views, opinions and/or positions of our publication.

You must be logged in to post a comment Login