REMAX Canadian Luxury Homes Market Report March 2023

Canadian Luxury Homes Market Report for March 2023

RE/MAX Canada Luxury Homes Report

Today is National Burrito Day, New Beers Eve and Nat. Employee Benefits Day

Growing demand for homes has made its way up to the higher end of the Canadian real estate market. In most of the country's major markets, luxury sales went up in the first quarter of 2023 compared to the fourth quarter of 2022.

RE/MAX Canada looked at luxury market patterns in 15 locations across the country, from coast to coast. They discovered that the significant loss of home stock is pushing up prices at lower price points and increasing demand.

10 of the 15 markets that were looked at are on par with or ahead of Q4 2022. As sales and temperatures rise, this pattern is likely to keep going until the second quarter of 2023.  Calgary and Hamilton saw the largest jumps at 34% and 39% respectively.

A lot of the activity is thought to be due to demand that has been building up since the middle of 2022. Buyers are taking advantage of the chance they have right now to buy a property. Listings, on the other hand, are hard to come by in most parts of the country, making it hard to find the ideal home.

In summary, the report identified 3 trends:

  • Overall national demand for luxury homes has increased
  • Sidelined buyers are back, and
  • The activity is expected on continue and rise.

Once again, Winnipeg is one of 5 cities bucking the trend, although just barely.

Luxury home sales were down in St. Johns NFLD by 68%, Edmonton AB by 30%, Kelowna BC by 17% and London ONT by 9%.  Winnipeg saw the smallest drop at only 3.8%.

Bo Kauffmann Real Estate Agent Winnipeg

Looking for a luxury home in Winnipeg?  I am a Certified Luxury Home Marketing Specialist and can help you buy or sell any luxury property, house or condo in Winnipeg and surrounding areas.  Call me anytime at 204-333-2202

You can see the report right here… 


Canadian Luxury Homes Market Report for March 2023About the Publisher

Bo Kauffmann is a residential real estate agent with over 18 yrs experience in helping buyers and sellers achieve their goals.  Inducted into the REMAX Hall of Fame in 2010 and receiving the REMAX Lifetime Achievement Award in 2019, Bo has sold over 500 houses and condos in the Greater Winnipeg market.  He is an accredited buyer representative (A.B.R.) and a Luxury Home Marketing Specialist.   Bo provides exceptional service to First-Time Home-Buyers, Seniors looking to downsize and Home Sellers of all ages.   He can be reached easily   By E-Mail or call/text him   Call/Text Here

  Never miss an episode of our real estate podcast. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to install our iOS App. For your Android Devices, click here to install our Android App. Check my videos on Youtube

Check out our Podcast

Leave a Reply

Ad Blocker Detected

Information on this site is totally free. We are supported by advertisers. PLEASE consider disabling your Ad-Block for this site. Thank you for your support.

Share via