The new luxury real estate capitals of Canada

Canada’s luxury housing market is gaining steam in pockets of the country not traditionally known for million-dollar homes. 

A new Remax Canada report found luxury home sales rose by more than 10 per cent in several secondary markets between Jan. 1 and April 30 compared with the same period last year. 

With a luxury price point of $1.5 million, Edmonton led the country with a 48 per cent increase in luxury sales, from 44 to 65 year-over-year for the first four months of the year. 

By comparison, luxury sales declined 19.8 per cent (268 sales) in Greater Vancouver and 16.9 per cent (300 sales) in the Greater Toronto Area. Both cities have a luxury price point of $3 million. 

Several other smaller cities with price points between $900,000 and $1.5 million followed Edmondon, including Saskatoon at 27.3 per cent growth (28 sales), Ottawa at 17.5 per cent (94 sales) and Calgary at 13.5 per cent (218 sales).

Prairie cities lead the way

Western Canadian markets recorded some of the strongest gains in the country, supported by economic growth, interprovincial migration and greater acceptance of higher luxury price points.

“Luxury is no longer defined solely by Canada’s largest urban centres,” said Don Kottick, president of Remax Canada.

“The growth occurring in many of Canada’s emerging luxury markets extends well beyond sales volume. We’re seeing greater acceptance of higher price points, stronger demand for custom and estate properties, and increasing activity in segments that barely existed a decade ago.”

Kottick said buyers are increasingly willing to make significant investments in markets where local economies are performing well and long-term prospects remain strong.

Confidence shaping buyer behaviour

The report identified consumer confidence as a key factor influencing luxury home purchases in 2026.

Rather than focusing solely on affordability, affluent buyers are placing greater emphasis on economic stability, future growth potential and overall value when making purchasing decisions.

Ottawa was among the strongest-performing markets in the country, benefiting from a stable federal government workforce, a growing technology sector and a steady stream of executive and professional buyers.

At the same time, some high-net-worth purchasers in Toronto and Vancouver have adopted a more cautious approach amid economic uncertainty and evolving tax policies.

Strength extends beyond major centres

Luxury market conditions remained stable or improved in Halifax, Winnipeg, London, Montreal and St. John’s.

Atlantic Canadian markets continued to benefit from population growth and investment, while Montreal and London maintained healthy demand for well-located luxury properties.

Across Ontario’s Greater Golden Horseshoe, including Oakville, Burlington, Hamilton and Niagara, demand remained supported by buyers seeking waterfront homes, estate properties and lifestyle-oriented communities. Improved inventory levels also created more opportunities for purchasers looking for long-term value, said Remax.

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