“Ottawa’s clampdown on mortgage borrowing is now gripping high-end homes,” reported the Globe & Mail earlier this month.
The clampdown has yet to establish any hold on Calgary’s luxury market. After 18 days there has already been a total of 32 single family homes and condominiums that have sold for a million dollars or more.
That month-to-date (MTD) total is already higher than the month-end tally’s for October 2007, 2008, 2009 and 2010. Last October had 35 luxury properties sell, and it’s all but certain that figure will be surpassed this month as well.
The majority of sales (24) have been in the $1-1.5M price range. Four have sold between $1.5-$2M, and another 4 between $2-3M. The highest sold price MTD has been a unit at Le Germain Residences which sold for $2.85M.
The luxury market isn’t lacking in supply however. There are 432 homes listed for $1M or more, with 249 of them being priced between $1M-1.5M.
Top 10 Most Expensive Homes
Each of the highest priced homes for sale are located in different neighborhoods across Calgary, save for Elbow Park which has 2 listed.
Two homes, one in Aspen Woods and the other in Crescent Heights, have the highest list price at over $11M.
You can view the 10 homes: click to view