Market running hot and cold
Canada’s luxury home market running hot and cold
Canada’s luxury home market is either hot or cold — depending on where you live.
A biannual study of luxury homes — those worth more than $1 million — in four of Canada’s largest cities found two very different results.
While luxury real estate is going gangbusters in the markets of Toronto and Vancouver, million-dollar home sales in Calgary are crumbling under this year’s unexpected drop in oil prices.
That’s according to Sotheby’s International Realty, which authored a report published Thursday.