Posted by & filed under Alberta Real Estate Update, BC Real Estate Update, Manitoba Real Estate Update, New Brunswick Real Estate Update, Newfoundland & Labrador Real Estate Update, Northwest Territories Real Estate Update, Nova Scotia Real Estate Update, Nunavut Real Estate Update, Ontario Real Estate Update, PEI Real Estate Update, Prestigious, Québec Real Estate Update, Saskatchewan Real Estate Update, Victoria Real Estate Update, Yukon Real Estate Update.

There is quite a dramatic difference between the prices of luxury homes across Canada. We get lot’s of comments on our active market here in Victoria. Some people say that the bubble is going to burst. In my opinion it is no bubble.

What I mean by that is that when you have house prices across the country going up like crazy (Saskatchewan up 39% in the last 12 months), it will reflect to our own Victoria Real Estate Market.

Let’s face it, Victoria is one of the most desirable places in Canada to live and now that people across our wonderful country get more for their homes many choose to sell and move to Victoria and other parts of British Columbia.

So how much is a luxury home across Canada? According to a study of upper end market trends by Re/Max shows us the following:

  • Vancouver tops the list at……………………$2,000,000
  • Greater Toronto in second place………….$1,500,000
  • White Rock is coming in at ………………….$1,200,000
  • Our lovely City of Victoria …………………..$1,000,000
  • Kelowna in the OK Valley …………………….$1,000,000
  • Calgary ………………………………………………..$1,000,000
  • Edmonton (I would never guessed)……..$900,000
  • Ottawa ………………………………………………..$750,000
  • Saskatoon …………………………………………..$500,000
  • Regina (unbelievable)…………………………..$500,000
  • Hamilton – Burlington …………………………..$500,000
  • Kitchener – Waterloo …………………………..$500,000
  • London ………………………………………………..$500,000
  • Winnipeg ……………………………………………..$400,000
  • Halifax ………………………………………………….$350,000
  • St.John’s ………………………………………………$350,000

That’s it, let’s all move to the East Coast. Actually I think we will check out the Maritimes, it is very nice out there as well, except for the winters.

The conclusion of all this is there is a spread $1,650,000 from Vancouver to Halifax and $1,000,000 spread between Victoria and Vancouver. My opinion, Victoria prices will climb higher.  What do you think? Drop us a comment below.

Cheers, Anders

Anders Treiberg, Associate Broker, REALTOR®

Properties in Victoria Professionals-Royal LePage Coast Capital.

Anders Treiberg has been a REALTOR® in Victoria since 1990. He has extensive Real Estate Expertise and can be reached on his website www.PropertiesInVictoria.com of via email at anders@PropertiesInVictoria.com

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