5:55 AM Jan 18, 2023
According to data from Sotheby’s International Realty Canada, sales over $4M in the Greater Toronto Area fell 24% year over year in 2022, while ultra-luxury sales over $10M declined 29% from 2021 levels. Residential sales over $1M posted an annual decline of 28%. Montreal’s luxury real estate market remained more balanced in comparison, with sales over $4M experiencing a 2% year-over-year increase. Sales over $1M declined 18% annually, with attached home sales down 23%, single-family home sales falling 22%, and condominium sales slipping 5%.
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