There’s always a silver living, isn’t there? Last year, as reported here in this blog, Calgary luxury homes valued in excess of $1 million fell by 41% in 2015 over the previous year. That’s old news.
The good news is that as a result of the drop in list prices, or correction as some would like to call it, sales activities in the luxury home segment of the housing market is expected to rise.
Recently, a home in the Calgary area which was originally valued at $8 million plus in 2011 sold for approximately $3.5 million. It was all over Facebook. This example is the extreme and not all luxury homes in Calgary are expected to see such dramatic decreases in value.
Some Calgary real estate experts believe that luxury property owners, observing…