At­tached homes lead lux­ury growth

Sales of more than $1 mil­lion rise 217 per cent

Calgary Herald New Condos - - New Condos - CLAIRE YOUNG

In terms of lux­ury home sales priced at more than $1 mil­lion, Calgary’s at­tached home mar­ket led growth in the first half of this year com­pared to the pre­vi­ous six months, says Sotheby’s In­ter­na­tional Realty Canada.

MLS list­ings for at­tached homes, both re­sale and new, in­creased to 38 units from Jan. 1 to the end of June, up 217 per cent from 12 dur­ing July to De­cem­ber 2012, says the com­pany’s Top Tier Real Es­tate Re­port.

It also marked an in­crease of 73 per cent com­pared to 22 sold in the first half of 2012.

A to­tal of 19 con­dos sold over the $1 mil­lion mark in the first half of 2013, a 58 per cent in­crease com­pared to the 12 sold in the lat­ter half of 2012, but a 37 per cent de­cline com­pared to the 25 units sold in the first half of 2012.

Over­all, for lux­ury homes of all types, the num­ber of sales in­creased while listed homes sold faster com­pared to same pe­riod in 2012.

Calgary saw 388 sales of homes of all kind val­ued over $1 mil­lion in the first half of 2013 — a 75 per cent in­crease over 222 sales the sec­ond half of 2012 and a 10 per cent in­crease over 353 sales in the first half of 2012, says the re­port.

Detached sin­gle-fam­ily home sales of more than $1 mil­lion con­tin­ued an up­ward rise to 331, up 67 per cent from the lat­ter half of 2012 when 198 houses sold — and a 10 per cent in­crease from 301 sales in the first half of 2012.

The Sotheby’s re­port is based on mar­ket data from MLS boards across Canada.

In Calgary’s condo mar­ket, properties be­tween $1 mil­lion and $2 mil­lion showed the great­est sales vol­ume, with 14 con­dos sell­ing in the first half of 2013.

High-end at­tached homes are mov­ing well in the $1 mil­lion to $2 mil- lion cat­e­gory.

Nearly 15 per cent of sales are go­ing above the list price and the num­ber of days on mar­ket are con­tin­u­ing to de­cline.

In the $1 mil­lion to $2 mil­lion cat­e­gory, at­tached homes sold on aver­age in 28 days in the first half of 2013, while they av­er­aged 53 days in the sec­ond half of 2012 — and in 62 days in the first half of 2012.

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There were 38 at­tached homes sold from Jan. 1 to the end of June, up 217 per cent from July to De­cem­ber 2012, says Sotheby’s In­ter­na­tional Realty Canada.

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