Luxury Home Sales Rise in Seven of 13 Canadian Markets as Regional Strength Drives Demand, says REMAX Canada

The REMAX Canada Fall/Winter 2026 Spotlight on Luxury Report finds luxury sales rose in seven of 13 markets, including five with double-digit gains, while select ultra-luxury segments showed resilience in major urban centres

REMAX Canada today released its Fall/Winter 2026 Spotlight on Luxury Report, which found an uneven picture nationwide with seven luxury markets posting year-over-year increases, while six markets recorded declines. Of the seven growth markets, five of them had double-digit gains. Select ultra-luxury segments in major cities also posted gains.

"Regional economic strength is shaping luxury demand, with stronger economies providing a sturdier foundation for homebuying activity," says Don Kottick, President of REMAX Canada. "Traditional drivers such as supply and demand, pricing, purchasing power and interest rates alone are no longer the only reliable predictors of market activity. Market dynamics are evolving, becoming more complex and nuanced, and increasingly dependent on regional fundamentals."

Double-digit gains in high-end sales were reported in Burlington (+26.3 per cent), St. John's (+21 per cent), Calgary (+20.6 per cent), Edmonton (+15.9 per cent) and Saskatoon (+15.3 per cent). Meanwhile, in the country's larger and pricier markets, luxury homebuyers exercised greater caution, as evidenced by Greater Vancouver (-17 per cent), Oakville (-16.7 per cent) and the Greater Toronto Area (GTA) (-9.4 per cent), where the steepest declines were recorded at their respective luxury thresholds.

REMAX Canada examined luxury residential sales activity across 13 Canadian markets between January 1 and September 30, 2026, compared to the same period in 2025.

While luxury home sales declined in some of Canada's largest markets, activity at the highest price points remained resilient, supported by buyers with substantial equity and greater financial flexibility.

In the GTA, sales above $7.5 million climbed 17.6 per cent year over year, with 15 transactions exceeding $10 million in the City of Toronto, the highest number in a decade. Similarly, Oakville recorded almost 18-per-cent growth in sales above $5 million, despite a 16.7-per-cent decline in overall luxury sales above $3.25 million. In Greater Vancouver, detached home sales above $5 million declined by eight per cent, compared to a 17-per-cent decrease in overall detached sales above $3 million. In Edmonton, 15 sales occurred over the $3 million price point year over year, up from 11 in 2025, representing an increase of 36 per cent.

"Wealth enables a home purchase; confidence and the right opportunity motivate it," says Michael Altneu, Vice President of Luxury at REMAX. "Most luxury buyers have the financial resources to act, but economic and geopolitical concerns are giving purchasers reason to pause. That said, a property that meets their every expectation can still spur a buyer, especially given the narrower price gap between existing homes and move-up properties, particularly in smaller markets."

Even with increased inventory and greater negotiating power for buyers, exceptional properties in desirable neighbourhoods continue to generate interest. Notable transactions included a $28-million waterfront property in Vancouver, a newly constructed Forest Hill residence selling for more than $23 million in Toronto and an $18.5-million waterfront property in Oakville.

 Among the report's other notable findings:

• Economic strength supports luxury sales in smaller markets: Burlington led the country in luxury sales growth (+26.3 per cent), while energy investment in Alberta and Newfoundland and Labrador, along with Saskatchewan's resource and agricultural sectors, supported double-digit sales growth in Calgary, Edmonton, Saskatoon and St. John's.

• Trade-up opportunities emerge as prices soften: In markets including Greater Toronto, Vancouver, Oakville and London, the narrowing price gap between existing homes and higher-end properties is encouraging established homeowners to trade up, even if it means accepting a lower price for their current home.

• Changing investment priorities influence luxury homebuying decisions: Economic and policy uncertainty is prompting some affluent Canadians to delay major purchases or explore alternative investment opportunities, with softer luxury sales in major markets such as Toronto and Vancouver potentially reflecting shifting priorities rather than a lack of purchasing power.

For additional regional findings and a detailed breakdown of luxury housing activity across all 13 markets, please refer to the full REMAX Canada Fall/Winter 2026 Spotlight on Luxury Report.

About the Report

The REMAX Canada Fall/Winter 2026 Spotlight On Luxury Report includes data and insights supplied by REMAX brokerages and analyzed by Point Blank Communications. REMAX brokers and agents are surveyed on market activity and local developments. Each REMAX office is independently owned and operated. Responses are meant to capture industry-level information and are not meant to serve as an indication of Real REMAX Group's company-specific growth trends.

About the REMAX Network

As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of Real REMAX Group (NASDAQ: REAX) with more than 145,000 agents in nearly 8,500 offices and a presence in more than 120 countries and territories. REMAX Canada refers to REMAX Canada, Inc., which is a subsidiary of RE/MAX, LLC. Nobody in the world sells more real estate than REMAX, as measured by residential transaction sides. REMAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. REMAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children's Miracle Network^® and other charities. To learn more about REMAX, to search home listings or find an agent in your community, please visit remax.ca. For the latest news from REMAX Canada, please visit blog.remax.ca. 

Source : REMAX Canada