Calgary Luxury Home Market Report: March 2013 & Q1 2013

Unlike Calgary’s overall housing market which posted a second straight month of negative sales growth year-over-year, activity at the high end of the market continues to – dare I say – boom.

A total of 74 properties sold for a $1M or more during the month of March, the highest March level recorded and the second highest overall surpassed only by May 2012’s 80 sales.

The 74 sales were comprised of 59 single family homes and 15 condominiums.    The 15 condo sales is a record as previously the highest total was 7,  jointly held by October 2007 and June 2011.

To highlight how remarkable 15 high-end condo sales in a month is,  in 2012 condos didn’t register their 15th sale until June 8th.

Year-over-year, overall luxury sales were up 32% in March with Altadore/River Park and Elbow Park/Glencoe being the two most active communities with 6 sales each.  A custom home designed & built by AVANT HOMES & GARDENS was the highest priced sale at $3,212,500. (See full community breakdown below)

Between January-March (Q1) there were 171 luxury homes sold compared to 114 during the same period last year: a 50% increase.

2013 Q1 was by far the best  in terms of first quarter sales activity, and the second highest QTR overall.

Historically, Q2 is usually the strongest so it will be interesting to see what the next 3 months has in store for Calgary’s high-end market.

Luxury Sales Reached Their Highest March Level Ever

Luxury Sales Reached Their Highest March Level Ever

Calgary Luxury Sales Over The Past 12 Months

Calgary Luxury Sales Over The Past 12 Months

Q1 2013 was Calgary's second best QTR for luxury sales

Q1 2013 was Calgary’s second best QTR for luxury sales

Luxury home sales, sorted by community

Luxury home sales, sorted by community

If you have any questions or would like more information on any of the homes, feel free to contact me at 403-554-2284 or by email: mike@findcalgary.com

2 responses to “Calgary Luxury Home Market Report: March 2013 & Q1 2013

  1. Pingback: Confidence Dropping, Luxury Sales Rising? | Calgary Real Estate Review

  2. Pingback: September 1-21, 2013 Calgary Real Estate Market Update | Calgary Real Estate Review

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