Sitting in the quiet Elbow Park/Glencoe neighborhood is a property that just sold for a whopping $5,050,000. It is the highest MLS sale in Calgary in 2011 and the fifth highest price of all time. The property was on the market for 101 days before changing hands on December 10th.
Built in 2007 by Empire Custom Homes, it offers more than 9,000 square feet of space. The top floor is made up of a loft that is 1,599 square feet. The lower floor offers a media room with theatre style seating, a wine cellar with glass panels, an exercise room and a recreation room. Five bedrooms and six full bathrooms are included. The original asking price was $5,590,000. The buyer got a half million dollar discount.
The Calgary Real Estate Board also noted that between January and November of this year, 25 condos sold through the MLS system were valued at over $1 million. In 2010, there were only 19 in that price bracket. In the single family category, 406 homes sold were in the million dollar club, compared to 326 in 2010. The record year is still 2007, when 431 single family homes and 30 condos went for over a million each.