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.