2024 Canadian housing prices in million-dollar cities decline 16% to $685,809, while luxury property sales surge in Toronto.
300-character summary: Canada's million-dollar cities have seen housing prices decline since 2022, with the average price dropping 16% to $685,809 in February 2024. Vancouver and Toronto still have prices above $1-million, while other million-dollar markets, such as the Fraser Valley and Oakville-Milton, have held up well. Despite high interest rates and low supply, luxury property sales have surged in Toronto, with a 14.4% increase in homes over $3 million sold compared to the same time in 2023.
April 02, 2024
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