Homes over $1 million surge in Calgary
The number of homes valued at $1 million or above in Calgary has increased by 39 per cent in a year. Newly released assessment figures show that there are now 14,207 homes in the city at the $1 million or above level, up from 10,227 last year. The growing number is more to do with rising prices of course, rather than an influx of wealthy residents and in fact some of the highest value properties are declining in price. Calgary has benefitted from high levels of employment and wages above the national average but the downturn in the energy sector could prompt a slowdown in house prices.