2019 Top-Tier Fall Market Forecast
Emboldened consumer confidence and solid economic fundamentals in Canada’s largest housing market position the Greater Toronto Area (GTA) to lead Canadian top-tier real estate performance this fall.
In a forecast released today, Sotheby’s International Realty Canada revealed that GTA residential real estate sales over $1 million saw bold gains over the summer months, increasing 29% year-over-year in July and August.
Vancouver’s top-tier real estate market is poised for gradual renewal this fall, as built-up consumer demand releases into new activity, and as housing prices continue to adjust downward to match current conditions.
Montreal’s $1 million-plus sales remained largely on par with 2018’s record highs; however, a 38% year-over-year surge in sales volume in the first fifteen days of September suggests healthy demand in the months ahead.
While Calgary real estate sales over $1 million fell 18% from 2018 levels in July and August, initial activity in the first two weeks of September reveals the potential for continued rebalancing in the city’s buyers’ market as $1 million-sales experienced a mild 10% uptick. Continue reading the full 2019 Top-Tier Fall Market Forecast