The Real Deal New York

Guess what neighborhood of millionaires you could buy into comparatively cheaply

With the downturn of gas and oil, this Calgary area has homes at bargain prices
July 29, 2018 03:39PM

(Credit: Pixabay)

Homes in the area of Aspen Woods, Calgary are at prices that haven’t been seen for about a decade.

The neighborhood of 8,000 is a mere 17 years old so most homes are newly built with an average price of $835,933, according to Mansion Global. The average resident aged 32 and it’s filled with more per capita millionaires than anywhere else in the country.

“We are seeing a huge decline in the prices of luxury homes over CA$2 million in Calgary and surrounding areas and feel we are at the bottom of the valley,” Sotheby’s Corinne Poffenroth told Mansion Global. “We are seeing some of the luxury homes listed over CA$2 million selling for 15%-25% less since the peak of 2008. There are huge opportunities for buyers in this current market.”

The median annual income in Aspen Woods is $1.2 million. [Mansion Global]