Posh properties saw a boost in sales in most Canadian cities according to Sotheby’s International Realty Canada’s Top Tier Report for January to June 2013.
Compared to the latter half of 2012, most of the the leading Canadian metros saw their sales of million dollar homes increase dramatically, though the year-over-year comparisons were not as large.
See how different types of luxury homes fared across the country here:
Single family homes above $1 million
- Compared to the last half of 2012, Vancouver saw a 65 per cent increase in sales during the first half of this year.
- Luxury houses in Calgary saw 67 per cent more sales, the highest leap in the country.
- Toronto sales rose by 61 per cent.
- Montreal saw a 29 per cent boost in sales.
- Comparing the same January to June time period in 2013 to 2012, sales were up by 10 per cent in Calgary.
- Vancouver posted a 2 per cent decline, year-over-year.
- Sales were down by 5 per cent in Toronto.
- Montreal posted a 6 per cent drop in sales.
Luxury attached houses (townhomes, semis and duplexes)
- Compared to the last six months of 2012, the first half of this year saw an 81 per cent boost in sales for properties in the $1 million to $2 million range and an 182 per cent increase in sales in the $2-4 million price segment in Toronto; from January to June 2013 to the same time in 2012, Toronto’s luxury attached homes over $1 million saw a 21 per cent bump in sales.
- Calgary posted a 217 per cent boost in sales in the $1 -2 million market during the first six months of the 2013 compared to last half of 2012; year-over-year, they posted a 73 per cent gain in sales.
- Vancouver’s attached homes with price tag over $1 million saw an 8 per cent decline in sales, year-over-year.
- Montreal also saw an 8 per cent drop in sales for luxury homes over $1 million, between the first half of 2013 and the same time last year.
High-end condos ($1 million and more)
- Compared to the last six month of 2012, the first half of 2013 saw a 36 per cent boost in sales of condos costing more than $1 million in Vancouver.
- Sales of luxury condos in Calgary saw a 58 per cent increase from the last half of 2012.
- Toronto’s million dollar condo market posted a 4 per cent gain in sales during the first half of the 2013.
- The year-over-year comparison is much more drastic: Vancouver saw a 20 per cent drop in luxury condo sales from January to June 2013 compared to the same time the year before.
- Calgary posted the largest year-over-year decline with a 37 per cent reduction in sales.
- Toronto’s sales dipped by 19 per cent as did Montreal’s luxury condo transactions.
Overall luxury sales ($1 million and more) by city
- Calgary led the country with overall sales growth of properties priced over $1 million increasing by 75 per cent since July 1 to December 31, 2012 and a 10 per cent increase over the same time in 2012.
- Vancouver saw sales increase by 57 per cent from the last half of 2012 to the first half of 2013. However, the year-over-year sales for January to June 2013 saw a more modest gain of 6 per cent in sales.
- In the GTA, upper end properties posted a 59 per cent overall increase in sales for January to June 2013, compared to the last six months of 2012; the year-over-year sales for the first half of 2013 saw a 4 per cent boost compared to the same period in 2012.
- Montreal saw a 26 per cent boost from January 1 and June 30, 2013 compared to sales over the last six months of 2012 and a 9 per cent decrease in sales when compared to the same period last year.