Calgary Luxury Home Market In Sharp Downturn

For the second straight month, luxury home sales in Calgary were down 50% from the previous year.

A total of 32 properties sold for at least a million dollars in November compared to 64 a year ago. Year-to-date sales are down -40.2% from 2014.

An Eagle Ridge home was the most expensive sale at $2,750,000 and the community of Altadore had the most sales with 4.

The inventory absorption rate has swelled to 17 months with 537 homes on MLS® seeking $1 million or more.

Calgary luxury home sales, Y/Y comparison

Calgary luxury home sales, Y/Y comparison

 

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