A for sale sign is posted on a home in Monterey Park, Calif. Thursday, Sept. 11, 2014.
“While market conditions can vary from one city or province to the next, the dynamics at play in luxury real estate markets from coast to coast remain consistent: buyers in this segment know what they want and they are willing to wait for it.” The cost of luxury real estate in Toronto also had a year-over-year increase of 3.9 per cent, whereas other Canadian cities with major luxury markets like Vancouver and Montreal saw their prices decrease.The report also highlighted that sales of luxury homes rose on an annual basis in nearly all major cities, except for Vancouver, Toronto and Halifax during that same time period.
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