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Where Calgary Wealth Buys Real Estate

Posted by Jim Sparrow on Thursday, November 17th, 2011 at 11:57am.

2011 Distribution of Calgary Luxury Property Sales

Where Do Calgary's Wealthy buy Homes?

 Distribution of Calgary Real Estate Luxury Sales - November 2011

Where do Calgarian's with high net-worth buy property in the city? Overwhelmingly it seems in Southwest Calgary Neighbourhoods:

  • two-thirds (68%) of Calgary luxury sales are in SW Calgary
  • one-quarter (24%) of Calgary luxury sales are in NW Calgary
  • one-tenth (9%) of Calgary luxury sales are in SE Calgary
  • Notably, there have been no million dollar+ sales in NE Calgary year-to-date

There have been 417 "million dollar+ sales" year to date in metro Calgary. This number represents the highest percentage of luxury sales to total metro sales recorded in any of the past 5 years:

  • 2011: 417 luxury sales out of a total 16,922 metro sales = 2.46% *year-to-date*
  • 2010: 367 luxury sales out of a total 17,271 metro sales = 2.12%
  • 2009: 340 luxury sales out of a total 20,754 metro sales = 1.64%
  • 2008: 371 luxury sales out of a total 19,118 metro sales = 1.94%
  • 2007: 461 luxury sales out of a total 26,668 metro sales = 1.73%

For the purpose of this discussion "Calgary Metro Luxury Sales" = all homes & condo / townhouses sold for a minimum $1,000,000 within the Calgary metro city limits. It does not include million dollar+ sales from areas beyond the Calgary city limits (i.e. Elbow Valley Estates, Heritage Pointe, Bearspaw)

Calgary's Top-10 Million Dollar Neighbourhoods

The top 10 metro Calgary neighbourhoods based on number of million dollar-plus sales for 2011 (year-to-date, as of Nov 16 2011). Many of these neighbourhoods are well known as bastions of the high net-worth, others may surprise you. Property types include both metro Calgary homes and condos / townhouses.

Calgary's Top 10 Million Dollar Neighbourhoods
 Rank  Neighbourhood (District)   Quadrant    # of Sales   Avg Sale Price

1

Elbow Park

SW

44

$1,655,856

2

Aspen Woods

SW

35

$1,456,852

3

Mount Royal

SW

29

$1,817,448

4

West Hillhurst

NW

24

$1,340,997

5

Springbank Hill

SW

23

$1,561,147

6

Altadore-River Park

SW

20

$1,323,750

7

McKenzie Lake

SE

13

$1,294,184

8

Hillhurst

NW

11

$1,300,272

9

Lake Bonavista Estates

SE

11

$1,821,136

10

Lakeview Village

SW

8

$1,597,250

 *Note - Average sale price is based only on properties with a minimum $1 million dollar sale price*

Calgary's Top 10 Luxury Neighbourhoods - Average Sale Price

Sorting Calgary's million dollar sale neighbourhoods by Average Price reveals some surprises. Note: Average sale price is a metric that can be skewed by outliers (1 or 2 expensive sales can significantly impact the average price)

Top 10 Calgary Neighbourhoods
 Rank  Neighbourhood (District)   Quadrant    # of Sales   Avg Sale Price

1

Eagle Ridge

SW

3

$2,307,666

2

Eau Claire

SW

5

$2,107,500

3

Rideau Park

SW

5

$1,955,000

4

Cougar Ridge

SW

2

$1,951,250

5

St Andrews Hts

NW

2

$1,925,000

6

Lake Bonavista Est

SE

11

$1,821,136

7

Mount Royal

SW

29

$1,817,448

8

Briar Hill

NW

6

$1,781,333

9

Elboya

SW

6

$1,779,666

10

Rosedale

NW

6

$1,768,166

*Note - average sale price is based only on properties with a minimum $1 million dollar sale price*

Calgary's Top 10 Condo Neighbourhoods 

All of Calgary's top 10 condo neighbourhoods are located in SW Calgary & the SE Beltline district of Victoria Park, which shouldn't surprise anyone living in the city. Most of these neighbourhoods are less than a 5 minute drive from downtown Calgary, with 1/2 of them an easy walk to the business district. As of November 19 2011, there have been 25 "million dollar plus" condo sales in Calgary, vs. just 21 similarly priced sales in 2010. *Based only on Calgary neighbourhood condo & townhouses that have sold in 2011 for a minimum $1 million*

 

Rank  Neighbourhood (District)  # of Sales  Avg Sale Price  Avg SP ($/Sq Ft) 
1  Eau Claire  5  $2,107,500  $678 / sq ft
2  Lower Mount Royal  5  $1,212,400  $482 / sq ft
3  Victoria Park  3  $1,620,000  $621 / sq ft
4  Aspen Woods  3  $1,120,523  $341 / sq ft
5  Rideau Park  2  $1,347,500  $665 / sq ft
6  Downtown  2  $1,250,000  $659 / sq ft
7  Connaught  1  $1,630,000  $800 / sq ft
8 Cliff Bungalow   1  $1,400,000  $650 / sq ft
9  Erlton  1  $1,300,000  $527 / sq ft 
10  Windsor Park  1  $1,160,100  $458 / sq ft
11  Mission  1  $1,032,500  $470 / sq ft

 *Note - average sale price is based only on properties with a minimum $1 million dollar sale price*

 

Can't find your neighbourhood? Where's Bel Aire? Crescent Heights? Britannia? A complete list of every Calgary neighbourhood with a million dollar+ sale can be viewed by selecting from the links below: 

Related Article(s) on Calgary Luxury Property

 Calgary Herald: Most Expensive Ever Calgary MLS Sales

Despite the continuing roller-coaster economic news coming out of the Euro-zone & our neighbours to the south, there are 80 Calgary neighbourhoods that have recorded at least one million-dollar plus sale (year-to-date). Amidst all the media "noise", the cost of a barrel of WTI oil is over $100 per barrel this morning. President Obama's decision to delay TCPL's Keystone XL pipeline will not change the fact that for the next 25 years or more, Alberta oil will be in demand to fuel the continued global economic development.

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1 Response to "Where Calgary Wealth Buys Real Estate"

Ben Fisher wrote: Big luxury real estate market there in Calgary! Very nice listings.

Posted on Thursday, November 17th, 2011 at 4:35pm.

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