The Sotheby’s report — which looked at the high-end housing market in Toronto, Vancouver, Calgary and Montreal — found that the number of homes that were sold for $1 million and higher was down 26 per cent in Vancouver. In Calgary, sales of homes for $1 million and more fell 10 per cent in 2018 as crude oil prices plunged in the last quarter of the year. In the Greater Toronto area, sales of luxury homes worth $1 million and more declined 31 per cent, while sales of homes over $4 million and more fell 40 per cent last year. In the city of Toronto, sales of homes over $1 million fell 19 per cent, while sales of over $4 million and more dropped 39 per cent. Sotheby’s said Montreal was an anomaly for luxury sales in 2018 even though it indicates there are signs that the momentum is beginning to plateau in Quebec’s largest city.

Source: thestar January 09, 2019 16:07 UTC