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THE LUXURY REAL ESTATE MARKET IN CALGARY & AREA
It has experienced notable activity in recent years, with several communities standing out for their upscale offerings and desirability. Here's a concise overview:
Market Overview:
Stable Median Prices: In the first eight months of 2024, Calgary's luxury property median price remained relatively flat, experiencing a slight 0.3% decrease year-over-year to $2,143,000.
Increased Sales Activity: During the same period, luxury property sales saw a significant rise of 30.9%, indicating robust demand in the high-end market.
Buyer Demographics: Many luxury buyers are relocating from other major Canadian cities, attracted by Calgary's competitive pricing and larger lot sizes, especially in communities close to the downtown core.
Top Luxury Communities:
Bel-Aire: Known for its exclusivity and privacy, Bel-Aire offers large lots adjacent to the Calgary Golf and Country Club. In 2018, the average home price was $2,318,929.
Britannia: This coveted community features mid-century modern architecture and contemporary mansions. The average detached home price in 2023 was $2,052,000.
Elbow Park: A historic neighbourhood with tree-lined streets and proximity to downtown, Elbow Park had an average detached home price of $1,980,758 in 2023.
Eagle Ridge: Offering seclusion and natural beauty near the Glenmore Reservoir, Eagle Ridge had an average home price of $1,485,000 in 2018.
Roxboro: A tight-knit community with diverse architecture and close to the Elbow River, Roxboro's average home price was $1,420,000 in 2018.
Calgary's luxury real estate market offers a blend of stability and growth, with diverse communities catering to discerning buyers seeking upscale living in prime locations.
In real estate, luxury is defined by a combination of factors that go beyond just price. Here’s what typically qualifies a home as luxury real estate:
Price Point:
Prime Location:
High-Quality Materials & Finishes:
Exceptional Amenities:
Exclusivity & Prestige:
Market Demand & Rarity:
Achieving Guild Recognition
***As a Guild Member of The Institute for Luxury Home Marketing™ Team Leader Stewart J Lowe is part of an International Network of Real Estate Professionals who specialise in the Luxury Market. With the back-up of the Institute it makes sense for us to represent you, why not request a no obligation Marketing Consultation!
Members of The Institute for Luxury Home Marketing who hold the CLHMS designation (Stewart J Lowe-Calgary & Area) have successfully documented performance in the TOP 10% of their markets, ...
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Find out how much your current home is worth in today's market.