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Market running hot and cold

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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.

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