A seismic shift is reshaping Canada’s luxury real estate landscape. According to REMAX Canada’s Fall/Winter 2026 Spotlight on Luxury Report, seven of 13 Canadian luxury markets recorded year-over-year sales increases through September, with five posting double-digit gains—even as the GTA and Greater Vancouver retreated sharply.
The numbers tell a striking story: Burlington led national luxury growth at 26.3%, followed by St. John’s (21%), Calgary (20.6%), Edmonton (15.9%), and Saskatoon (15.3%). Meanwhile, the GTA luxury segment fell 9.4%, while Oakville dropped 16.7% and Greater Vancouver declined 17%.
Don Kottick, President of REMAX Canada, attributes this divergence to regional economic strength reshaping buyer behavior. Traditional market variables—supply, demand, pricing, and interest rates—are no longer reliable predictors alone. Instead, economic diversification, population growth, and lifestyle-oriented property demand are fueling activity in secondary markets.
A silver lining for GTA ultra-high-net-worth buyers: properties above $7.5 million climbed 17.6% year-over-year, with 15 transactions exceeding $10 million in Toronto—the highest tally in a decade.
Read the full analysis at the original source to understand what this structural shift means for your real estate strategy.
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