Calgary luxury home market heating up
Sales this year on track to beating 2007 record
Calgary’s housing market has been heating up in the last year and now, the luxury market is joining the trend.
High-end properties peaked in 2007 with more than $458 million in homes selling that year.
And there’s a good chance the city will surpass that number this year considering 300 homes sold in the first six months.
Dennis Plintz, a city realtor, said the city's oil and gas economy, low interest rates, and an accessible inner city market are some of the factors driving the demand.
"It does feel that our group is getting back up to the craziness that we saw in 2006-2007," Plintz said.
He said many luxury homes have specific features that make the property sell quickly. He gave the example of a solar-powered home in Belair.
"A lot of that comes from pent up demand," Plintz said. "There's certain buyers that know exactly what they want, in the exact community they want — that usually moves pretty quick."