The definition for luxury real estate can differ from one market to another which really is dependant on the areas individual average price. But for most the people luxury real estate is thought to start at about the $1M mark. In some markets a Million will get you more and obviously less in other markets.
The Calgary luxury real estate market starts at the million dollar mark and the sky is really the limit. The well known luxury neighbourhoods in the Calgary Real Estate market are as follows:
Located in close proximity to the core - Elbow Park is in Calgary's SW quadrant and is made up mainly of single family homes. The average sale price is $2,103,750
While you can get into this community for the average price of $1.8M you could easily spend upwards of $5M or more for that dream home in Mount Royal. Mount Royal has always been well known as one of Calgary's most prestigious areas with its large lots and close proximity to Calgary's downtown. Today Mount Royal is filled with renovated heritage homes and new builds but is mostly made up of single family residences.
The average selling price of a home in Britannia is $1.3M - Mature trees and river views best describes the community of Britania. A short drive to the core is convenient for professionals wanting an exclusive feel without the large commute to work.
The average sales price in Bel-Aire is $2.3M it is a wealth neighbourhood made of all single family homes with no low income or rental property.
Just under a million is the average sale price in Aspen Woods coming in a at $988k, although there are wide variety of home styles and condos to choose from. Starting at the $700 mark for a single family home all the way to $12M for Calgary's most expensive home ever to hit the market.
* Average price statistics are taken from the Calgary Real Estate Board statistics for July 2012
Calgary Luxury Real Estate Listings