Calgary Luxury Homes Are Selling at Lower Prices Than Ever

Markets in Calgary are witnessing luxury homes being sold at abyssimally low prices

November 18, 2015, Calgary: Calgary is one place in Canada that is replete with some of the most astonishing houses and buildings. It is a paradise with loads of places that offer recreational opportunities. Buying and selling properties in Calgary is an ongoing process but the trends that are being seen now are quite different. According to the housing analysts this fall in prices in the luxury houses in Calgary would continue for a long time now.
For instance an Alberta home with Swarovski crystal laced faucets and mother of pear tiles right there in the master bathroom was sold for nearly half its asking price. The house is 9,200 square foot and located in Priddis, southwest of Calgary. The property was listed for $3.9 million but was sold at auction for just over $1.7 million. Similar was the fate of another luxury property down the street that was a mansion of $2.9 million but was sold at $1.1million. According to the realtors representing the two homes, they were newly builds and were appraised just under their list price.

The luxury real estate market in Calgary and surrounding areas is going through the roughest of patches and the situation is not going to improve in the coming times. The Calgary Real Estate Board has reported that the average price of the Calgary home dropped six percent than the past year. Although the market has slowed down yet, the emotional factors also play a big role. One reason attributed to this fall in the prices is the suffering in the Alberta?s energy industry. As long as there would be no solution in sight to this energy crisis the residents of Calgary would continue to take drastic actions. The Calgary real estate agents are already prognosticating a downward trend for the markets. If you are really interested in buying property in Calgary for some reason then this possibly is the right time.

About Jesse Davies

A certified Condo Specialist in Calgary, Jesse Davies is a born and raised Calgarian and this gives him up-to-date and in-depth knowledge of the city. He holds a Bachelor of Commerce degree and his wide range of skills including marketing, advertising, promotions, personal communications, and business negotiations make him an all around great Realtor?. Jesse has now also become an associate broker at First Service Residential Alberta Ltd located in Calgary. He is working towards his Accredited Appraisers Designation (AACI) in the Calgary area strengthening an on-going and persistent goal to continually keep his skills and education up to date for his clients? real estate needs.

Company :-Jesse Davies

User :- SW Homes

Email :-Jesse.Davies@fsresidential.com

Phone :-403-969-2363

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Url :- http://www.swhomesforsale.ca/