2012 Canadian Top-Tier Real Estate Report
In Sotheby’s International Realty Canada’s latest Top-Tier Real Estate Report, 2012 activity reflects promising momentum in luxury residential real estate in the country’s largest urban centers.
Several Canadian markets finished 2012 with stronger than anticipated growth over 2011. Toronto, Calgary and Montreal all ended 2012 with positive year-over-year sales growth in homes over $1 million. In the latter half of 2012, in light of the Canadian government’s introduction of tighter mortgage rules to promote the long-term stability of the housing and mortgage market, several markets including Vancouver experienced a controlled softening much like conventional real estate.
The bi-annual report, compiled by Sotheby’s International Realty Canada, examines the number of million dollar-plus residential properties sold from January 1, 2011 to December 31, 2012. The report also highlights new data for the second half of 2012 (July 1 to December 31, 2012) in Vancouver, Calgary, Toronto and Montreal. The report compares the sales volume, number of days on market, inventory of listings and percentage of homes sold over the asking price and is the only Canadian report to provide true luxury market commentary by comparing data for residential properties with values of over $1 million.
To download the report: