A total of 732 properties have sold for $1 million or more so far this year, breaking the year-end record of 726 set in 2013. Luxury sales year-to-date represent 3.3% of the homes sold on MLS® compared to 3.1% in 2013 and 2.4% in 2012 during the same period.
Calgary luxury home sales have set a new monthly record every month so far this year with an all-time high of 104 sales in June.
Bear in mind that these sales records are despite two direct measures taken by CMHC at buyers of $1M+ properties. The first was two years when CMHC stopped insuring mortgages on homes worth $1M+ if the buyer didn’t have at least a 20% down payment. The second measure was enacted at the end of July when CMHC stopped offering mortgage insurance for homes that cost $1M+ altogether, even if the buyer made a deposit of 20% or more.