Calgary Home Goes on the Market for Record $12-million $

Calgary's red-hot real estate market hit record heights this week when a house in the southwest portion of the city went on sale for a whopping $12-million.

The 1,800-square-foot, two-bedroom bungalow-style home located on more than an acre of land is the most expensive single-family dwelling ever listed in the city, said Calgary Real Estate Board president Kevin Clark, who admitted the dwelling is fairly small for its price tag.

"It's more location. It's made of a very, very fine piece of real estate," he said.

The highest price a Calgary home has yet sold for was $5-million, he said, though there are a few others currently listed between $5-million and $9-million.

"We certainly see a lot more properties over a million dollars than ever before," he said, attributing it to the inflation in real estate that has occurred in the area in the past 15 months.

Gizella Davis, who is handling the sale, refused to comment publicly on the property. She described it in the listing as having vaulted ceilings, four bathrooms, banks of windows, fireplaces and a view of the mountains.

"Here you can build your dream home in an ideal inner-city location, only minutes to Calgary city centre and all amenities, or renovate this spacious and bright home," she wrote.

TheGlobeAndMail