What luxury home sales tell us about Canada’s K-shaped real estate economy

Luxury home sales in Canada are showing a positive trend, with growth rates surpassing those of the overall market in several regions. Seven out of 13 major real estate markets experienced double-digit growth in luxury homes sales in the first nine months of 2026, with the fastest increases occurring outside of Toronto and Vancouver.

Cities such as Burlington, St. John's, Calgary, Edmonton, and Saskatoon witnessed significant growth in luxury property sales. Even in Canada's largest cities, the luxury real estate market is thriving, with notable increases in high-end sales and record-breaking prices. The Canadian Real Estate Association reported a 2.3 per cent decline in overall home sales in September, attributing the slowdown to rising mortgage rates and economic uncertainty.

Despite these challenges, wealthy buyers with strong financial backgrounds and confidence continue to dominate the luxury market, demonstrating a significant advantage in negotiations and purchasing power.

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