Luxury condominium sales are increasing in Calgary this year with MLS sales over $1 million currently putting an all-time yearly record.
Year-to-date, until Wednesday, there were 53 luxury condominium sales in the city compared to 21 for the same period last year, as reported by the Calgary Real Estate Board.
The interest in the luxury condo market is obvious in yearly sales profits over the past decade. In 2004, there have been only two sales at that cost and it jumped to six in 2005. But sales took a tremendous leap in 2006 with 29 transactions that year. Annual luxury condo sales for the past few years are: 30 in 2007; 27 in 2008 and 2009; 21 in 2010 and 26 in 2011.