Attached homes lead luxury growth
Sales of more than $1 million rise 217 per cent
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.
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.