Luxury home sales soar in August

Luxury home sales in Calgary hit a red hot record in August.

Sixty-four homes sold for at least $1-million in the entire month, doubling the total for the same period last year.

There was also a big first last Friday, when 12 homes were sold for at least $1-million, all in one day.

REMAX Realtor Grace Yan tells The Calgary Herald prices continue to rise because of high demand and a low supply of inventory; that means properties are being snapped up fast.

Demand is expected to remain high throughout 2013.

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