You might not expect it, but even Canada’s luxury housing market has come down to earth — sort of.
Calgary leads the luxury pack as revived economic prosperity returns to Canada’s energy capital. Sotheby’s said strong gains were posted in the city’s luxury $4 million-plus market, with five single-family homes sold in the first half of 2022, compared with none sold in that price range during the same period last year. Further, sales of single family homes and luxury attached properties over $1 million rose 36 per cent year-over-year and 85 per cent, respectively.
In the GTA, sales of properties worth more than $4 million were up seven per cent from the first half of 2021. Sixteen homes worth more than $10 million sold in the first half, one more than at the same time last year. Condominium and attached home sales in the $4-million-plus category rose 13 per cent and 100 per cent, respectively, in the first half of 2022.
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