According to a newly released report by Royal LePage Canada, luxury home sales in Calgary have shown signs of recovery. The median price of a luxury detached home increased 0.6 per cent, to $1,990,184 so far in 2018.
Alternatively, luxury condos are slightly down (6.1 per cent) to $926,620 for the first four months of this year. However, there is a huge inventory of condos on the market in Calgary and the supply continues to be saturated as new builds come onto the market. The luxury house market was down for several years following the recession, so this is encouraging news that prices are rising.
“While some of the demand stems from buyers employed in the energy industry, it is becoming more common to see executive-level employees within…
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