Luxury home sales in Calgary see slight increase
Posted Aug 20, 2016 10:14 am.
This article is more than 5 years old.
Are you in the market for a home over one million dollars? Given the economy, very few are these days but luxury homes are still selling.
Chief Economist at CREB, Anne-Marie Lurie says it’s only an increase of about three per cent of overall sales, but it’s still an increase.
According to the latest data, adjustments to prices in the luxury home market have made those properties more attractive.
“What we’ve seen, for homes priced over a million dollars, we’ve seen a slight uptick in sales — not really much. On the grand scale of things, things are still relatively lower than what we had seen prior to us moving into the recession. But, compared to last year, we have seen a some uptick in sales but it is a really small share of the market,” said Luire.
Although most of the damage was seen last year, she expects more volatility in the housing market moving forward as the economy continues to find its feet.
