5:55 AM Jul 20, 2022
“We’re coming off a few years of what has really been a record breaking anomaly in terms of the real estate market,” Don Kottick, President and CEO of“We’ve seen the seasonal and cyclical fluctuations that we’ve been used to prior to the pandemic blown out the window and now I think what we’re seeing is almost a return to a more normalized market. Obviously there’s nuances in different markets across the country.
In all, Kottick says luxury markets continue to show robust activity across the country, even taking into account last year’s record-breaking trends.As Canada’s largest luxury market, the Greater Toronto Area started to see a slow return to balance in the first half of the year, though sales of homes priced over $4M still outperformed last year’s numbers by 7%. This was seen across all luxury home types, including condo sales, which rose 13%.
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