In the past year, 498 homes in Calgary fetched more than $1 million, with the average price of those at $1,448,667, said Realtor Justin Havre.
Recently, two homes sold for around $4 million, one of them going for $500,000 below its appraised value, he said.
“People are cautious. It takes a lot for them to pull the trigger.
“They’re looking at some pretty good opportunities and throwing out some pretty low price points.”
Even so, that market and the wider one have been kept afloat at a reasonably healthy level by “incredibly low interest rates,” said Havre.
On Thursday, the city released its property assessment rolls that suggest residential values have fallen by two per cent since the previous year, based on a July 1, 2020, review.