What luxury home sales tell us about Canada’s K-shaped real estate economy
Luxury home sales are on the rise in seven out of 13 of Canada’s largest real estate market, a new report from Remax Canada shows.
Canada's luxury real estate market is experiencing a surge, according to a new report from Remax Canada. Luxury home sales are on the rise in seven out of the country's thirteen largest real estate markets, with the fastest growth outside of Toronto and Vancouver. Five of these markets experienced double-digit growth rates in the first nine months of 2026, with Burlington, Ont. leading the charge at 26.3 percent.
Despite the slowdown in Toronto's luxury market, which is mainly concentrated in homes priced between $3 million and $7.5 million, the Greater Toronto Area saw a 17.6 percent increase in luxury sales for homes priced at $7.5 million or more. Fifteen homes in Toronto's upscale Forest Hill neighbourhood sold for over $10 million, with one home in the Forest Hill neighbourhood selling for a staggering $23 million.
This trend of rising luxury home sales could potentially trickle down to other segments of the market, as buyers at the top have the financial means and patience to navigate lengthy negotiations. However, the ultimate catalyst for new buyers to enter the market will be a resolution to the ongoing trade war between the United States and Canada.
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