The million dollar homes featured on MTV cribs for which celebrities are infamous for purchasing are not only found in big cities.
According Alan Vogt, president of the Prince Albert District Association of Realtors, Prince Albert has more than a few luxury homes as well, and they are part of a positive trend in sales.
“I had done a report earlier in the year, which shows some of our sales trends and we were actually outdoing Saskatoon, so that transfers down to our luxury home sales as well,” Vogt said.
In 2012, more than three per cent of the homes that sold were more than $500,000, which Vogt said is quite outstanding.
“Even right now there’s five current listings for homes over $500,000 to buy and one is almost approach the $1-million mark,” he said, adding the current average transaction price is easily more than $200,000.
The classification “luxury home” is based on a number of factors, including view, privacy, location and size.
“The luxury home would be a very large home in comparison to the balance of the city and it would feature the utmost best quality in both construction and finishing and highest quality materials, craftsmanship along with the newest media systems; things like the man cave,” he explained.
These “high end” homes are becoming more prevalent every year with more people being capable of buying them, Vogt explained.
“Our economy is strong. We see not only a growth in luxury home purchases; we see growth in all our prices ranges in the entire market. As the old saying goes in real estates, it’s a great a time to buy or sell.”
In Prince Albert specifically, Vogt said you’ll find more of the luxury homes where the highest land values in the city are located.
“Here in Prince Albert that would mean the newest areas of Crescent Acres and the newest area of the West Hill.”
On Twitter: @sarahstone84
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