Market value: Calgary-area luxury market set for growth

This market offers more home for less than in other major markets.

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Calgary’s resale real estate market is the toast of the nation this year, and that certainly applies to its luxury segment, which according to a recent report by Sotheby’s International Realty Canada is forecast to lead Canada for sales growth in 2023.

Driving the market is a strong economy and high interprovincial migration with buyers recognizing they can purchase more home for their dollar than in Toronto and Vancouver, says realtor Jacqueline Thorogood with Sotheby’s in Calgary.

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Below are three listed luxury homes revealing what buyers get for their money.

Plenty of Elbow room

Neighbourhood: Elbow Valley in Rocky View county

Address: 216 Elbow Ridge Haven

Type: single-family detached home

Size: 3,873 square feet

Year constructed: 2003

List price: $2.35 million

List date: Sept. 26

Listing agent: Jacqueline Thorogood, Sotheby’s International Realty

The custom-built, five-bedroom home along the Elbow River is part of the tony Elbow Valley Estates, a master-planned community recognized twice as Canada’s Community of the Year, Thorogood says. The community features a residents’ club, lake, walking and biking trails, and access to four golf courses. The home itself is equally notable with many rooms featuring views of the river valley, Rocky Mountains and city, she adds.

The gourmet kitchen has a butler’s pantry, a Wolf six-burner gas cooktop and wall ovens, two Bosch dishwashers, and a large Sub-Zero fridge and freezer. The main floor features a great room, dining room and fireplace. It also includes a spacious den with built-in custom cabinetry, a large mudroom with lockers, dedicated shoe storage, a walk-through coat closet, and powder room. The home has six full bathrooms, including an ensuite in the master with dual vanities, a soaker tub, an oversized steam shower and a water closet. The basement features in-floor heating, a custom-built media room, a wet bar and two additional bedrooms.

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“Comparatively, we feel this home is likely in the $4-million-plus range in Vancouver and Toronto markets,” Thorogood says.

This 4,851-square-foot Elbow Valley home in Rocky View county is listed at $3.2 million. Courtesy, Coldwell Banker Mountain Central jpg

Frank Lloyd Wright-inspired living

Neighbourhood: Elbow Valley in Rocky View county

Address: 335 Leighton View

Type: single-family detached home

Size: 4,851 square feet

Year constructed: 2007

List price: $3.2 million

List date: Aug. 21

Listing agent: Rachelle Starnes, Coldwell Banker Mountain Central

A great fit for architectural buffs, the home hits notes of the prairie style made popular by Frank Lloyd Wright with Tyndall stone columns, Utah brick accents and an overall design that flows with the rolling landscape of the Elbow River Valley.

“This is a truly unique home in luxury,” says realtor Rachelle Starnes, with Coldwell Banker Mountain Central in Calgary. It features hardwood flooring, real walnut millwork, designer lighting and a Travertine tile fireplace. The designer kitchen has a Miele five-burner induction cooktop, double ovens and a walk-in pantry. The main floor also includes the master bedroom with a walk-in closet that has its own laundry room and seasonal clothing area. As well, the ensuite has a double steam shower with body jets, a soaker bathtub and two vanities. Two large flex spaces atop a double, attached garage provide functionality as guest suites or home offices.

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This five-bedroom home in Patterson, Calgary, is listed at $1.2 million. Courtesy, Re/Max Real Estate Mountain View jpg

Big luxury value in the big city

Neighbourhood: Patterson

Address: 60 Patterson Mews S.W.

Type: single-family detached home

Size: 3,084 square feet

Year constructed: 1987

List price: $1.2 million

List date: Oct. 19

Listing agent: Jeff Ackerman, Re/Max Real Estate Mountain View

Luxury never goes out of style, but this five-bedroom home with four full bathrooms and a triple garage puts a new spin on high-end living with ample updates. Located on a cul-de-sac, the two-storey home was recently renovated. Notably its kitchen now features a new built-in fridge, oven and microwave, along with a second oven and six-burner gas stovetop. The home also now has tigerwood hardwood and Travertine tile flooring throughout. The main floor has a long list of unique spaces — from a private bedroom/office to a sunken family room, and formal dining room, coffee bar and mudroom with lockers next to a newly renovated laundry room. The master bedroom has an ensuite bath featuring a tiled shower with new rain-style heads and two sinks. The bedroom even includes a private balcony with views of the city. Besides a completely updated design, the home also has new water lines, two new high-efficiency furnaces, recently replaced garage doors, two new water heaters and a new roof among other upgrades.

“A comparable new build would be significantly more,” says Richard Fleming, broker/owner of Re/Max Mountain View. “It is a rare find.”

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Originally posted 2023-11-17 17:50:53.