Million dollar home sale - Re/Max

By Dori Modney

First million dollar home sold in Coaldale

Feb 16, 2021 | 4:23 PM

COALDALE, AB. — Canadians bought a record number of homes in January and shelled out more money to purchase them than they have in years.

The Canadian Real Estate Association reports last month’s sales were up 35.2 per cent from year-ago levels, before the pandemic hit.

The national average price of a home sold jumped 22.8 per cent from last January to a record $621,525 last month.

The purchase of more expensive homes continued in February as Re-Max registered the first million dollar home sale in the town of Coaldale.

For the past few decades, Coaldale has been seen as a small, quiet bedroom community for those who work in Lethbridge.

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While Coaldale started out as a small country town, the community has grown to over 8,000 residents with many amenities that preclude a trip into Lethbridge for the essentials. There is a grocery store, doctor’s offices, pharmacies, dentists, banks, recreation facilities, restaurants, a small hospital where lab work can be done, schools from K to 12, a Fire department with EMT’s and a new regional RCMP detachment is under construction.

The Land-o-Lakes housing development has one single lot remaining undeveloped, while the Cottonwood subdivision is filling up quickly – especially the estate lots.

It was an estate lot of almost half an acre that backs onto the Land-o-Lakes, golf course, which caught a buyer’s attention. Aside from the location, the property boasts an outdoor pool, a four vehicle garage, five bedrooms and five bathrooms, all with very high-end finishes.

Million Dollar home – credit Re/Max

Million dollar home — credit Re/Max

In other words, you wouldn’t mind being home-bound in a house like this.

The home had been on and off the market for over a year. However, Dallas Harty, a Brokerage owner for RE/Max Real Estate-Lethbridge, says the home was relisted by Team Wolsey, under the Luxury program of the “Re/Max Collection”.

Million dollar home – credit Re/Max

Under this program, homes must be at least twice the average home price of those in the area, with their own unique signage and website, to help market the property.

The home was on the market for just over 60-days before the sale was successfully closed.

According to Harty, “There is no doubt the future plans for growth in services in Coaldale will continue to attract families to the small town.”

Harty says Coaldale properties remain in high demand, which is driven by low interest rates, and a mix of of properties, with everything from row housing ti single family homes and high end properties. He notes that in many cases, you ar getting a bit more land and house for your money.

Those who live in Coaldale comprise a wide variety of occupations, from education and health care to business owners and executives, and those who own surrounding agricultural property. With the proximity to Lethbridge, those who commute find it no longer than those living in West Lethbridge who work in the downtown area.

The appeal of the small town isn’t likely to subside anytime soon, when there are luxury properties that rival major centre’s.

Million dollar home – credit Re/Max

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