$4.5M Rideau Park Home Highest Sale Price of 2011

Yesterday, a brand new home in Rideau Park sold for $4,525,000 which is the priciest MLS® sale of 2011 year-to-date for Calgary.

Built by City Core Developments the 6,165 square foot, 5 bedroom home is located on the banks of the Elbow River. According to the MLS® listing it boasts:

Gourmet kitchen, 48″ Wolf range, Sub-Zero, pantry, stunning cabinetry, counters and large island complete the well appointed kitchen, perfect for entertaining large groups. The deck has a fully serviced outdoor kitchen & beautiful outdoor fireplace. Master bedroom & spacious 5 pc ensuite with Jacuzzi, 2 walk-in closets and a private balcony overlooking the river. 4 fireplaces, 5 bedrooms & 5 ensuites, wine cellar, media/rec. room & bar, rubber floored gym

The home was listed with RE/MAX REAL ESTATE (CENTRAL)

You can view pics of the home here – but they were taken while the property was still under construction.

The record for the most expensive home sold in Calgary on MLS® was set in 2009 when former Calgary Flames goaltender Mike Vernon sold for $10.3M in Elbow Park.

5 responses to “$4.5M Rideau Park Home Highest Sale Price of 2011

  1. What will the new owners think when the “Mighty Elbow River” decides to flood – again? Hope they put lots of sump pumps in the basement…..

  2. If you want to make money in a full proof fashion than here is how: buy an older bungalow on a 50 foot R2 lot in a Northwest community like Montgomery. The community is already in transition and if you want to see the future in a few years for Montgomery–then look to the next door community of Parkdale. Real estate there is through the roof!! Anybody who bought an R2 50 foot lot there a few years ago are much much wealthier now. The old bugalows in Parkdale are being sold and then knocked down and replaced with state of the art modern duplexes, and then they are selling for a fortune. Buy an area that is already in transition like Montgomery and you will make money!!

    Montgomery is awesome!

  3. Carioca Canuck

    I doubt builders just decide to gamble in this economy and build unique customized $5MM +/- dollar homes on rare inner city river front lots solely on spec, then put them on MLS. This is not 2005 Dorothy.

    I’d wager that this thing was pre-sold many months ago by the builder to the new owner, and now that it is almost finished, it was just listed and then “sold” to give a false and inflated figure to the November stats.

  4. Carioca, the property was originally listed since February. Different brokerages/agents represented the buyers and the sellers when it did sell.

    So far this year, 405 SFH at $1M+ have sold on MLS in Calgary. Compare that to the year-end $1M+ total sales of the last 5 years and you’ll see that the luxury market is very much alive in Calgary:

    2010: 346 properties
    2009: 313 properties
    2008: 344 properties
    2007: 432 properties
    2006: 310 properties

  5. Pingback: $5M Home Sells in Elbow Park | Calgary Real Estate Review

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