Following a strong summer, luxury real estate market sales in major Canadian cities are beginning to slow down, according to a new report. But real estate experts say they re still optimistic that the market will remain resilient through to early 2024.
Sales activity among luxury homes in Toronto and Vancouver saw a decline in 2022, according to new data released by Sotheby s International Realty Canada. However, other major Canadian cities such as Montreal and Calgary saw sales volumes stabilize or even increase throughout the year.
Sales activity among luxury homes in Toronto and Vancouver saw a decline in 2022, according to new data released by Sotheby s International Realty Canada. However, other major Canadian cities saw sales volumes stabilize or even increase throughout the year. CTVNews.ca has put together a list of properties currently on the market for $1 million or more in major cities across Canada.
A Resort-Like Retreat Built Into the Rock Formations of Ontario
The forested estate totals more than 30 acres and comes with multiple villas and entertainment spaces By Michael Kaminer |
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Price: C$12 million (US$9,348,000)
Custom-built over five years on an expanse of natural rock formations, this secluded lakeside estate in Ontario offers more than 11,000 square feet of living and recreation space. The compound includes 10 buildings clustered on 5.6 acres, plus an additional 27 surrounding acres.
“This is the place for someone who wants the ultimate in privacy,” said listing agent Marilyn Wilson of Marilyn Wilson Dream Properties Inc., an affiliate of Christie’s International Real Estate. “It’s not a place to see and be seen, like the Hamptons or Muskoka. I think we’ll see an international client for this one, or a celebrity. And we have many Canadian families who’ve sought a compound like this for years.”
House Hunting in Canada: Octagonal Riverfront Views Outside Ottawa
After lagging behind larger Canadian cities for years, Ottawa saw home prices balloon in 2020, fueled by a surge in demand and ‘inventory at historic lows.’
By Michael Kaminer
$3.77 MILLION ($4.795 CANADIAN DOLLARS)
Set on the banks of the Rideau River, this custom-built four-bedroom home is in Manotick, a village about 15 miles south of Ottawa, Canada’s capital city. The 3.4-acre property includes 264 feet of water frontage, with two boat slips. “It’s rare to acquire a property on the river with this much waterfront,” said Marilyn Wilson of Dream Properties, the listing broker. “And having two boat slips is unusual. You wouldn’t be able to get them now because of conservation rules.”