Calgary Luxury Home Market Report: July 2013

Calgary’s luxury market set yet another monthly record in July as sales surged 74% y/y.

As was mentioned before, it was last July that the government implemented stricter mortgage rules including requiring a minimum 20% downpayment for homes priced at $1 million and over.  Despite this change, Calgary’s luxury market has continued unabated.

In July, a total of 68 properties sold for $1M and over compared to 39 last year.    The 68 luxury sales eclipses the previous July record of 61 set back in 2007.

July Year Over Year Comparison (click to enlarge)

July Year Over Year Comparison (click to enlarge)

Year-to-date sales total 460, a 36% increase from last year.  What makes this 36% increase more remarkable is that 2012 currently has the highest year-end luxury sales total.

The 460 sales so far this year surpasses the year-end totals of every year except 2012.

July Luxury Sales

Year-to-date totals (click to enlarge)

Luxury Sales over past 12 months (click to enlarge)

Luxury Sales over past 12 months (click to enlarge)

The most active communities during the month were Altadore and Mt. Royal, both with 7 sales each.

The most expensive sale was a $4,645,000 home in Mt. Royal.   It was was also the first time 4 homes sold for above $4M in a month.

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