Dissatisfied with traditional methods of listing real estate, they decided to market the house themselves.
After only two months in the market, the $1.6-million house sold.
In late 2021, the detached segment in Calgary showed strong signs of recovery, and a tight market drove up sales even in the $1-million-plus price range, a niche that had been struggling since the 2014 downturn.
On Jan.
Moreover, according to CREB, the share of $1-million-plus homes in the Calgary market also increased from three to four per cent in 2021.
After their experience selling the Withrow House over the summer, Mr. Erickson says it was clear there was a gap in the city’s luxury real estate market.
“Typically a realtor just looks at the house, crunches the numbers, and does a pretty simple write up that is really a superficial evaluation of the house,” Mr. Erickson says.
In this context, Mr. Erickson and his Studio North partners, Matthew Kennedy, Damon Hayes Couture and Heath Williamson, identified an opportunity to expand the scope of their services and provide a supplementary marketing service to cater to an exclusive niche of the high-end market.
Conceived as an organization parallel to Studio North, Arch House aims to fulfill the needs of buyers who value the quality, attention to detail and higher design standards of a custom designed home with a story.
According to Ms. Lurie an influx of professionals attracted to the city’s relative affordability can be expected in the coming years.
Priced at just over $1-million, the value of these properties includes much more than what buyers can find in cities such as Vancouver or Toronto in a similar price range.
But not just any luxury home will make the cut to be marketed by Arch House.