Calgary Luxury Home Sales Slow In July

After putting up impressive sales figures in June, Calgary’s high-end home market pulled back again in July,  dimming prospects for a resurgence in the luxury segment.

A total of 56 properties sold for $1 million or more, down -30% from last July and the 4th highest tally for the month.  Year-to-date sales of 349 are off -35% from 2014.

The highest sale price was $2,080,000 for a 3-storey home in Elbow Park.

Aspen Woods had the most sales with eleven, followed by Altadore/River Park with ten.

There are currently 552 properties listed on MLS® in Calgary with an asking price of $1 million or above.

Calgary luxury home sales

Calgary luxury home sales, July Y/Y, Year-to-date

4 responses to “Calgary Luxury Home Sales Slow In July

  1. Mike, I am in the market for a new house. My realtor has created a report for me as new listings appear. One of the confusing things about the report is that listings that are expiring are being labeled in the system as sold only to be re-listed as a new listing a few days or weeks later. How does CREB account for these anomalies in their statistics? Thanks

  2. Hello D, what is the name of the program being used for your reports?

    I just double-checked with CREB’s MATRIX system, and the MTD sold statistics are accurate: expired listings have not been counted as being sold.

  3. Hi Mike,

    I have found examples of listings where the house has been marked sold only to appear on the market again in two or three months time. (C4044572 S 4205 13 Avenue, C4038281 S 243 ST MORITZ Terrace SW) Is the realtor allowed to do this? It would seem if the same house is marked sold multiple times over the course of a year, the sales statistics would look better. Thanks

  4. Hello D,

    I looked up both the listings and the last time they sold on MLS was in 2007 & 2013. Within the past year, they were taken off the market because the listing expired or was terminated.

    Where did you see it marked as ‘sold’ exactly?

    I’ve emailed you the listing history for both those homes to examine.

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