In October 2023, the Calgary Real Estate Board (CREB) reported a significant increase in home sales, with 2,171 transactions taking place. This represents a 17% year-over-year growth in the city’s real estate market.
The boost in sales activity was primarily attributed to a rise in apartment condominium sales as consumers sought more affordable housing options amidst the backdrop of high interest rates. Additionally, new listings also showed improvement compared to the previous year, reaching 2,684 units, marking the highest October levels recorded since 2015.
The unadjusted residential benchmark price for homes in Calgary experienced a slight increase, reaching $571,600 in the past month, compared to $570,300 in the preceding month, indicating a 9.7% year-over-year increase.
CREB’s Chief Economist, Ann-Marie Lurie, emphasized that it will take some time for the market to transition towards more balanced conditions and, subsequently, greater price stability.
For those with a penchant for luxurious living, Calgary offers a selection of opulent residential properties for sale. Here are the top five most expensive homes available as of November 2, 2023, according to Realtor.ca:
- $9.9M Pump Hill Home: Located at 19 Pump Hill Close S.W., this 10,600-square-foot residence is inspired by the Provence region in France and sits on a spacious 0.6-acre lot. The property boasts six bedrooms, seven bathrooms, five fireplaces, and a heated nine-car garage. The listing describes it as an architectural masterpiece, beautifully blending French and Italian craftsmanship in every detail.
- $8.9M Riverfront Home in Elbow Park: Nestled at 300 37 Ave. S.W., this 7,049-square-foot home is situated on a historic and exceptionally rare quarter-acre lot by the Elbow River. The property, built in 2016, features energy-efficient triple-glazed windows and a sliding wall/window system for an indoor/outdoor experience.
- $8M Home in the Upcoming Community of Providence: This 9,031-square-foot residence is located at 4111 162 Ave. S.W. occupies 18 acres of land in the future Calgary community of Providence. The home, built in 2011, offers a sports room, theatre room, and even a hockey arena, along with five bedrooms and six bathrooms.
- $7.9M Bungalow in Eagle Ridge: Situated at 40 Eagle Ridge Place S.W., this gated bungalow stands on a double lot and features four above-grade bedrooms, one below-grade, and seven bathrooms. The home, built in 1971, welcomes visitors with hand-chiselled walnut doors and offers a culinary haven for food enthusiasts.
- $7.5M Estate in Upper Mount Royal: This three-story, 5,743-square-foot estate located at 717 Royal Avenue S.W. in Upper Mount Royal sits on an acre of land. Known as the Sayre Estate, it was built in 1910 and has a rich local history, including a period as a convent. The property offers spectacular city views and various areas for relaxation and entertainment, including a sun-filled family room, a sumptuous den with a hotel bar, a theatre room, and a home gym.
Calgary’s real estate market continues to offer a range of high-end properties for those seeking luxurious living in the city.
