Luxury homes in Calgary are selling for at least $1.75M

Calgary has its fair share of luxury homes, but did you know that each one has a minimum price threshold?

According to Royal Lepage’s recent report on Canada’s luxury home market, Calgary properties must meet a $1,750,000 minimum price threshold to be considered luxury.

While this figure is the entry-level price, the report detailed that the median price of a luxury property in Calgary was $2,143,000, a 0.3% decrease from last year.

Royal LePage

“Throughout the pandemic, many of our luxury clients felt a sense of uncertainty and chose to hold off on their purchase plans, creating a slowdown in activity,” said John Hripko, sales representative at Royal LePage Benchmark.

Despite the slight price decrease, the report shared that sales activity for luxury homes in Calgary saw a 30.9% increase.

“Though the luxury segment represents a small portion of the overall market, demand in this area is certainly fast-growing,” said Hripko. “Calgary continues to see a number of people relocating from other major Canadian cities, knowing they can get a luxury product for a better price here.”

On average, Calgary luxury homes have 3,261 square feet of living space, 4.3 bedrooms, and 4.5 bathrooms.