THOMAS: Luxury home market see precipitous year-over-year decline


Prices in luxury home markets in Canada’s four largest cities have taken a beating to start 2023, compared to the halcyon first three months of 2022.

Homes priced at $1 million or more saw declines averaging 46% in Calgary, Vancouver, Toronto and Montreal, according to the latest luxury real estate report from Sotheby’s International Realty Canada.

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