Although activity in the $1 million-plus price range is not as high as it was last spring, the Top-Tier Real Estate: Spring 2023 State of Luxury report by Sotheby’s International Realty Canada points to Calgary’s luxury market being the healthiest among Canada’s largest cities.
Low inventory is a challenge in every major city from Vancouver to Montreal, particularly in the luxury markets, the report notes.
In fact, supply is even lower than last year when all resale markets were faced with unprecedented demand.
In part, the low inventory is a result of fewer sellers listing homes, Kottick adds.
When compared with activity in the years before the pandemic, however, luxury market activity in Calgary so far this year is 223 per cent higher than the first quarter of 2020.
Source: Calgary Herald