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Another Luxury Home Sales Record Beat!

This year, the Calgary luxury home market has been topping record after record! Sold just last week was former home of Shaw executive Jim Shaw for a record $11.1 million making it the highest sale price ever in Calgary on the MLS system!

The property at 102 Crescent RD NW perched atop the ridge was listed for $11.5 million boasting stunning downtown, river valley & mountain views, nearly 10,000 sq ft of luxurious living space, 6 bedrooms, 5 ensuites plus an extra 2.5 baths, rooftop deck with 360 views and hot tub, third level library/den, media room, fitness facility, complete home automation program, all on over 1/2 acre lot! Just the taxes only could be someone's yearly salary at $47,542 for 2013!

This Crescent Heights executive home, overlooking downtown Calgary, surpassed the previous record set earlier this year for a property sold in Aspen Woods for $10.35 million. The two-storey property which was described as a "majestic French Country Castle" sat on a gated interior ridge on a 1 acre lot, with the finest finishings from all over the world, over 14,500 sq ft of living space, 5 Bedrooms, 9 Bathrooms, carriage house, Grand Parlor with Swarovski Crystal Chandelier, Gourmet Kitchen and Butler's Pantry, Men's Parlor, Bar & Games Room, Wine-Tasting Room, Yoga Studio and Spa facilities.

This Aspen Woods home broke the previous record of $10.3 million, set in August 2009 with the sale of former Flames goaltender Mike Vernon’s house in Elbow Park/Glencoe.

Shaw's house made headlines in 2008 when it was bought for a record $7.5 million.

Calgary’s luxury home market has been very strong in the past year or so. It is mainly due to its hot economy, with many head offices and executives choosing to hang their hats here, they see the potential to purchase a great home for a great price!

The month of May had the highest ever number of $1-million sales with 84 transactions, exceeding the previous one-month high of 80 in May 2012.

On Friday, the Calgary Real Estate Board released its mid-year forecast update stating that price and sales growth in the city will likely remain in line with expectations although the full impact of the flood won’t be known for some time.

“In the short term, we anticipate that the levels of listings will fall, and any transactions that do go ahead in the impacted areas will face some price discounts,” said Ann-Marie Lurie, CREB’s chief economist. “However, increased demand in the unaffected areas, combined with already tight supplies, would support further price gains. This will offset any declines recorded in the impacted areas.”

It is apparent that these million dollar properties all have several things in common, location, finishings and amenities are what sells! Even if you don't have the 1 acre lot, or the downtown views, you can use these listings as inspiration and create your own mini-mansion. Here's how:

Amenities: Create 'scaled-down spa', library, or media room by using a corner of a room or a small room in your basement. Make sure you keep the vision of your inspiration room in mind when creating this space.

Finishings: Update your finishings - these are simple and inexpensive to do but have a "Wow" factor. Some things to focus on are light fixtures, door knobs, faucets, crown and baseboard mouldings.

Location: Not much you can do about your location, but play up on its advantages by preparing a list of all local amenities that are popular in your area, any views you like, sunset/sunrise rooms, and south-facing backyards are preferred for gardeners. Also by updating your landscaping with new plants, trees, shrubs, flowers, walkways, patios, you are creating your own private oasis.

Want to see what other million dollar properties are available on our market today? SEARCH NOW on my website for other luxury homes.


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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
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