Issuu

YEAR-END 2025

Canadian Luxury Real Estate Market Report

Cover: 38 Island Watch Run Engel & Völkers Nova Scotia

Contents Introduction

National Overview

Halifax

Montréal

Ottawa

Toronto

Vancouver

120 Netyard Lane Engel & Völkers Nova Scotia

Introduction Welcome to the Engel & Völkers 2025 Year-End Canadian Luxury Real Estate Market Report. On-the-ground intel from local Engel & Völkers Canada real estate experts, combined with market data, informs our analyses and serves as the basis for trends and forecasting. Homes over $1 million throughout the year, as listed on the MLS®, were evaluated. The result is a residential property and market report for Halifax, Montréal, Ottawa, Toronto and Vancouver.

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7756 W Saanich Road Engel & Völkers Vancouver

National Overview The $1 million to $1.99 million segment was the national anchor in 2025

Price stability has replaced price acceleration Price growth moderated across Halifax, Ottawa, Montréal,

Across Canada’s key luxury markets, properties priced

Toronto and Vancouver, but it did not reverse. Even when

between $1 - 2.99 million remained the most liquid and

inventory expanded, most notably in Ottawa and Montréal,

resilient tier in 2025, acting as the primary engine of

average sale prices remained remarkably stable.

activity. Ottawa recorded the most pronounced rebound in this segment, with sales rising sharply year-over-year as

Transactions continued in Toronto and Vancouver within

affordability improved and confidence returned. Halifax

tight pricing bands, while Halifax experienced modest

and Vancouver saw renewed momentum, supported by rate

pressure without signs of overheating. The absence of

cuts and steady end-user demand.

sharp corrections pointed to a market recalibrating rather than retreating.

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37% The number of units sold between $1-$1.99 million in Ottawa grew by 37% year-over-year

Ultra-luxury activity remained selective but resilient Sales above $4 million remained limited nationwide, though prices held firm for architecturally significant or truly extraordinary properties. Toronto

and

Vancouver

recorded

notable

trophy

transactions, while Montréal saw increased listings and a normalization of average prices concentrating in the $4-6 million range. Ottawa’s ultra-luxury market performed

37 Clarendon Avenue Engel & Völkers Ottawa

exceptionally well, seeing a record-breaking six transactions

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3180 Benbow Road Engel & Völkers Vancouver

over $4 million. Overall, Canada’s ultra-luxury market continues to function less as a volume-driven segment and more as a preservation-of-value market.

A late-year inflection point emerged Canada’s housing market exited 2025 on firmer footing, positioned

for

steadier,

confidence-driven

conditions

rather than renewed volatility. Momentum improved nationally in the second half of the year as rate cuts and greater policy clarity lifted confidence. Ottawa, Halifax and Vancouver saw particularly strong late-year activity, while Toronto and Montréal stabilized into more predictable patterns. Although volumes remained below pre2022 peaks, the tone shifted materially by year-end.

Policy and transaction costs continued to shape outcomes Transaction

friction

played

defining

role

shaping

luxury market velocity across Canada. While interest rates eased, policy remained a key influence on market behaviour. Foreign buyer restrictions, land transfer taxes and non-resident levies continued to suppress discretionary activity at the top end, particularly in Toronto and Vancouver. When Canada’s Prohibition on the Purchase of Residential Property by Non-Canadians Act ends (currently set for January 1, 2027), expect increased competition, particularly for luxury and pre-construction homes.

Engel & Völkers key brokerages outperform the market across major Canadian cities Across key Canadian markets, Engel & Völkers shops continued to outperform broader market conditions. In Ottawa, transactions grew by 16.59 per cent year-over-year while the overall market declined by 1.3 per cent. In Toronto, sales rose 15 per cent despite Greater Toronto Area-wide sales declining 11.2 per cent over the same period. Vancouver was up by 7 per cent as the market declined by 10.4 per cent. In Montréal, Engel & Völkers posted 7 per cent growth while the overall market declined 2.9 per cent.

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Halifax A 23% increase in $1–1.99 million sales in 2025 was recorded, with average prices up 3% year-over-year. Welcome to Halifax

The $1-$1.99 million million price band remained the foundation of Halifax’s luxury market, representing the

In 2025, Halifax’s real estate market continued to show

highest number of $1 million-plus transactions. Between

resilience amid policy shifts, cautious consumer sentiment

January and December 2025, 242 residential properties in

and evolving buyer expectations. On the Halifax Peninsula,

this segment changed hands, up from 196 in 2024, marking

the historic, vibrant heart of Halifax, the luxury segment

a 23 per cent year-over-year increase. Average sale prices

remained active and competitive, driven by well-maintained,

held steady, ranging from $1.2 million to $1.43 million,

detached homes between $1 million and $1.5 million.

underscoring stable demand for homes offering space, privacy and access to the coast.

Average home prices inched upward across most luxury price bands, supported by tight supply and continued population growth, while the number of new listings rose at all price points. Halifax ended the year with a late-season surge in activity, particularly through October, following two rate cuts from the Bank of Canada that boosted momentum across the $1 million-plus market. Despite a more favourable lending environment, buyer sentiment failed to keep pace with improving market fundamentals. Throughout 2025, Halifax operated as a seller’s market with a buyer’s market mentality — prices edged upward, albeit modestly, even as many purchasers approached with heightened caution and conservative expectations. Turnkey listings in coveted areas such as the South End and Bedford commanded multiple offers, while properties requiring updates or priced above market expectations lingered and faced gradual adjustments.

“Halifax’s premium market is expanding, with modern architectural gems and historic properties emerging. Many were held for decades, making today’s inventory rare and sought-after.”

Policy also played a significant role in shaping demand.

Donna Harding

Nova Scotia’s decision to raise its Non-Resident Provincial

License Partner Engel & Völkers Nova Scotia

Deed Transfer Tax from five to 10 per cent in April 2025 dampened seasonal and out-of-province activity, particularly among buyers from Ontario and British Columbia.

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120 Netyard Lane Engel & Völkers Nova Scotia

$1-1.99 million

$2-3.99 million

$4 million +

New Listings 60 40 20 0

60 40 20 0

JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

Residential Class

52 34

45 24

13 1

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

Condominium Class

$1-1.99 million

$2-3.99 million

$4 million +

Total Units Sold 60 40 20 0

12 1

13 0

JANUARY

FEBRUARY

60 40 20 0

Residential Class

3 MARCH

14 1

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

Condominium Class

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0 OCTOBER

16 1 NOVEMBER

20 0 DECEMBER

Condo sales in this tier remained limited, with modest

estate properties — yet no sales were completed during that

turnover in premium developments. Prices fluctuated

time. In 2024, only three transaction occured, reinforcing

between $1.05 million and $1.4 million throughout 2025,

the rarity and selectivity of homes in this price point.

while entry-level condo supply — particularly units priced between $350,000 and $500,000 — remained elevated,

The city also faces an inventory imbalance. Overall supply

contributing to longer absorption periods despite strong

remains below equilibrium at 2.5 months, compared to the

rental demand.

four to six months typically considered balanced. Builders continue to face challenges, but housing starts in the HRM

Activity in the $2-3.99 million segment expanded notably

are leading nationally, growing by 32% year-over-year as

in 2025. Residential listings climbed from 45 to 66 units

of December.

year-over-year, while sales grew from 13 to 22 transactions. Average sale prices ranged from $2 million to $2.8 million, reflecting increased confidence among both sellers and buyers at the upper end of the market. At the top end, the $4 million-plus category remained ultraexclusive. Between January and December 2025, 16 new listings entered the market — including waterfront and

Average Sold Price

$4 million +

$4 M $3 M $2 M $1 M

$1-1.99 million

$2-3.99 million

$2.05

$2.30

$2.0

$2.84

$2.70

$2.05

$2.10

$2.34

$4 M $3 M

$2.76

$2.24

$2 M $1 M $0

$1.25

$1.27 $1.40

$1.25

$1.33

$1.25

$1.27

$1.24

$1.31

$1.43

$1.31

$1.33

$1.19

$1.05

$1.20

$1.24

JUNE

JULY

AUGUST

$4 M $3 M $2 M $1 M $0

$1.19

$0 JANUARY

Residential Class

FEBRUARY

MARCH

$1.13 APRIL

$1.12 MAY

$1.05 SEPTEMBER

$1.25

OCTOBER

NOVEMBER

DECEMBER

Condominium Class

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Property Spotlight 38 Island Watch Run Donna Harding . Engel & Völkers Halifax Susan Diamond . Engel & Völkers Chester

BEDROO M S

BAT H RO OMS

L I V I NG A R E A

L I S T E D AT

3,317 sq. ft.

$4.4 million

Rockbound is an architectural masterpiece by Omar

The home consists of two distinct volumes, with the upper

Gandhi, nestled into the untouched granite coastline of

level appearing to hover above the sea. Purposefully

St. Margaret’s Bay with unobstructed views of the iconic

concealed sightlines at the entrance build anticipation

Peggy’s Cove lighthouse and the open Atlantic. Anchored

before revealing the dramatic panorama through floor-to-

directly into the bedrock, this custom-built residence

ceiling windows. Generous decks extend the living space

embodies resilience and respect for the surrounding

outward, sheltered to allow for year-round enjoyment

landscape. Its exterior, armoured in weathered cedar,

of summer days and winter storms. Rockbound is a rare

Shou Sugi Ban and Corten steel, echoes the rugged North

union of architectural mastery, environmental sensitivity

Atlantic environment, while the interiors offer a serene

and coastal sanctuary. A residence shaped as much by its

space defined by soft natural tones, white oak cabinetry and

setting as by its design.

expanses of glass framing uninterrupted views of Peggy’s Cove and the open ocean.

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Advisor Commentary Nova Scotia’s luxury market is seeing unprecedented interest from buyers across Canada and abroad. Architectural coastal properties like Rockbound perfectly illustrate why. It represents the new face of Atlantic luxury, design-driven, environmentally mindful and deeply connected to place. While comparable oceanfront architectural homes in markets such as British Columbia or New England often trade at two to three times the price, Nova Scotia continues to offer exceptional value without compromising on design or setting. Today’s buyers are seeking meaningful architecture and a true sense of refuge. Rockbound delivers a home sculpted from the coastline, with privacy and craftsmanship. As prices remain comparatively attainable, properties of this calibre are attracting design-savvy purchasers who recognize the province’s growing profile in architectural excellence and sustainable coastal living.

Nova Scotia’s luxury market remains resilient, with architecturally significant coastal homes seeing strong demand and multiple $4 million plus sales recorded this fall.

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200 Middle Road Engel & Völkers Nova Scotia

Engel & Völkers forecasts Halifax residential properties worth over $1 million will see a 3% price increase in 2026. Market Outlook Engel & Völkers projects that Halifax’s luxury market will

With the Bank of Canada’s rate cuts in September and

continue to experience stable to moderate price growth

October 2025 expected to further stimulate confidence,

into early 2026, with $1 million-plus properties expected to

and a growing pipeline of high-end new listings, the market

appreciate by approximately three per cent in the first half

is poised for a steady and confident start to 2026.

of the year.

Continued economic stability and predictable government policy will be essential to sustaining buyer momentum and

Halifax remains well-positioned among Canadian luxury

reinforcing Halifax’s reputation as one of Canada’s most

markets for its relative affordability and lifestyle appeal.

desirable mid-sized markets.

Waterfront and leisure-oriented homes in Chester, Lunenburg and Baddeck are expected to maintain interest. Still, the loss of out-of-province buyers seeking a second home or coastal retreat will be felt by local owners.

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NEIGH BO URH O O D RADAR

Halifax

Bedford

Downtown Dartmouth North End West End

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Montréal 2025 saw a 32% rise in $1–3.99 million detached sales, with average prices holding at $1.49 million for a second year, despite a 21% increase in listings. Welcome to Montréal

Average sale prices in this band held steady. In 2024, the average sale price was $1.48 million, which remained

In 2025, Montréal’s luxury real estate market shifted

effectively unchanged in 2025 at $1.49 million, reflecting

decisively from caution to confidence. After a slower

stable demand for well-maintained single-family homes

2024 marked by affordability concerns and hesitant buyer

and spacious condos in established neighbourhoods.

psychology, the year brought stability across most price bands, supported by easing interest rates, improving

Turnkey homes in central or amenity-rich areas, such as

consumer sentiment and meaningful sales growth through-

Outremont, Westmount, Griffintown and parts of the West

out Montréal.

Island, continued to attract multiple offers, while properties

Across the island and surrounding communities, average prices for homes over $1 million held firm, underscoring the resilience of Montréal’s premium market even as the number of new listings grew. Declining borrowing costs and improved clarity encouraged qualified buyers to re-enter the market, resulting in smoother, more strategic transactions compared to 2024. Despite higher inventory, the luxury segment remained fundamentally strong. Buyers approached 2025 with a more focused mindset — driven by architectural quality, location, space flexibility and sustainability. Engel & Völkers Montréal converted this momentum into record performance, supported by rising exclusive listings and consistent price premiums. Lifestyle shifts continued to shape housing choices. Families and professionals increasingly favoured areas that offered character, access to green spaces, hybridwork compatibility and multi-generational living potential.

“Montréal’s luxury market has transitioned from caution to strategic confidence. Prices held firm, qualified demand strengthened and buyers remained highly focused on quality and architecture.”

The $1-3.99 million tier remained the foundation of Montréal’s luxury market. Between January and December 2025, 5,598 residential class properties were listed in this segment, compared to 4,613 during the same period in 2024 — up 21 per cent year-over-year.

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Patrice Groleau License Partner Engel & Völkers Montréal

581 Rue Ernest-Choquette Engel & Völkers Montréal

New Listings

$4 million +

30 20 10 0

12 3

19 13

543

564

583

$1-3.99 million

678

700 600 500

10 3

588

518

434

368

400

529

422 329

300 200

136

172

174

169

173

163

112

123

160

137

100

163 59

0 JANUARY Residential Class

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

Condominium Class

Total Units Sold

$4 million +

40 30 20 10 0

10 3

298

296

$1-3.99 million

300

249

250 200 150

145

100 50

271

262

242 199

175

MARCH

APRIL

60 40

220

196

177

54 33

0 JANUARY Residential Class

FEBRUARY

MAY

JUNE

JULY

AUGUST

Condominium Class

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SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

requiring renovation or priced above comparable sales

Prior to the federal foreign-buyer ban, non-residents

experienced longer selling cycles.

accounted for up to 20 per cent of Engel & Völkers Montréal’s transactions. While the current restriction remains

In the $4 million-plus category, Montréal’s ultra-luxury

in place until 2027, its impact has been limited within

market remained steady but selective. Between January

the ultra-luxury tier, where most purchasers are local or

and December, 212 new residential and condo class listings

internationally established within permitted channels. Once

entered the market, virtually in line with 213 during the same

this buyer cohort returns, Engel & Völkers anticipates a

period in 2024.

significant acceleration in high-end activity.

Average residential class sale prices adjusted modestly,

Montréal’s luxury condo segment experienced a measured

from $6.10 million in 2024 to approximately $5.7 million

reset rather than a retreat. New listings over $1 million rose

in 2025, reflecting a higher concentration of transactions

by eight per cent year-over-year, while average prices rose

in the $4–6 million range, bringing down the overall average.

softly from $1.39 million in 2024 to $1.38 million in 2025,

Best-in-class properties — architecturally significant

consistent with broader market trends.

estates, homes with panoramic views and large-format luxury condos continued to see strong interest from highly qualified buyers.

Average Sold Price $8.07

$8 M

$6.96

$7 M

$5.90

$4 million +

$6 M $5 M

$4.44

$4.83

$4.69

$4.45

$7.43 $6.25

$6.26

$4.62

$4.30

$4 M

$5.70

$5.48

$5.33

$5.14

$4.30

$3 M $2 M $1 M $0

$1.49

$1.45

$1.43

$1.34

$1.33

FEBRUARY

MARCH

$1-3.99 million

$2 M $1.5 M $1 M

$1.45

$1.50

$1.48

$1.45

$1.29

$1.35

$1.34

APRIL

MAY

JUNE

$1.55 $1.50

$1.52

$1.53

$1.51

$1.53

$1.38

$1.35

$1.41

1.41

1.40

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

$.5 M $0 JANUARY

Residential Class

JULY

Condominium Class

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Property Spotlight 177 Av. Maplewood Rochelle Cantor . Engel & Völkers Montréal

BEDROO M S

BAT H RO OMS

L I V I NG A R E A

S O L D P R I CE

6,004 sq. ft.

$5.9 million

Sold in May 2025, 177 Av. Maplewood is an exceptional

hammered wrought-iron artistry and preserved marble

showpiece residence, perfectly positioned in highly cov-

accents define its interiors.

eted Upper Outremont. Inspired by Frank Lloyd Wright’s iconic vision, this architectural masterpiece features

177 Av. Maplewood is among Outremont’s top five highest-

a distinguished granite facade and more than 6,000

value single-family home sales and at a selling price of

square feet of refined living space, set on an estate of over

$5.8 million, it stands as the second-highest sale in the

20,000 square feet.

neighbourhood for 2025. It follows an all-time recordbreaking sale for Outremont, also by Engel & Völkers,

Recognized with the Montreal Architectural Heritage

in 2025, when the property at 80 Duchastel sold for an

distinction, the home reflects uncompromising crafts-

astonishing $11.8 million. Although this home is set on a

manship and timeless elegance. Its oak parquet flooring

more modest lot, it mirrors the refined condition and arch-

and custom brass hardware with intricate inlays to

itectural pedigree seen at 177 Av. Maplewood.

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Advisor Commentary Celebrated locally for its architectural significance and inspired by the legendary Frank Lloyd Wright, the home stands as a true masterpiece within the community. Taking the lead as listing agent and collaborating with Félix Jasmin, Engel & Völkers Montréal Outremont, played a key role in achieving the successful sale of this exquisite home. Securing the second-highest sale in Outremont in 2025, the transaction reflected both the property’s stature and the strength of today’s high-end market. With rising demand for heritage and architecturally significant homes in Outremont, 177 Av. Maplewood remains a defining example of the value placed on design pedigree and preserved craftsmanship.

Outremont’s luxury market is strengthening, with seven sales above $3 million in the first half of 2025, driven by lower rates and limited high-end single-family supply.

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56 Rue de Braine Engel & Völkers Montréal

Engel & Völkers forecasts a 3% increase in average sale prices for residential properties over $1 million in 2026. Market Outlook A growing pipeline of premium listings, stable, qualified

neighbourhoods leading to price stability and absorption.

demand, and a more accommodative monetary environ-

As interest rates ease and international buyers return in

ment position Montréal for continued growth, supported

2027, Montréal’s high-end segment is poised for another

by its relative affordability, cultural appeal and strong

period of expansion, one that could surpass even the

domestic migration.

record-setting performance of 2025.

The luxury sector is expected to outperform the broader market once again, with turnkey homes in prime

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NEIGH BO URH O O D RADAR

Montréal

East Island | Hochelaga Maisonneuve Villeray | Ahuntsic Rosemont Le Plateau-Mount Royal

Outremont Town of Mount Royal

Saint-Laurent

Westmount

Lasalle

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Ottawa The $1–1.99 million residential detached market saw a 33% increase in units sold, with average prices rising 2% year-over-year. Welcome to Ottawa

cent increase compared with 1,375 in 2024. Strong uptake from move-up families, federal professionals and relocating

Ottawa’s residential real estate market closed 2025 with

executives fuelled sales, which climbed 38 per cent year-

renewed confidence following a slow first quarter and a

over-year. Despite the influx of supply, pricing in this bracket

gradual buildup of inventory across most price segments.

held firm and average sale prices for residential class

The turning point arrived in late spring, when improving

properties hovered between $1.2 million and $1.4 million —

affordability, steady rate cuts and rising consumer

closely aligned with 2024’s annual average of $1.25 million.

confidence aligned to lift market activity. By early summer, Engel & Völkers affiliated advisors were reporting consistent showings and a deeper pool of qualified buyers. Across the city, overall sales volume for residential and condo class properties in the $1 million-plus segment rose 39 per cent year-over-year, reinforcing Ottawa’s reputation as one of Canada’s most stable luxury markets amid continued national volatility. Despite higher inventory, residential home prices remained remarkably stable, extending the multi-year pattern of flat but resilient strength. Buyers approached the market deliberately rather than with urgency. Decision timelines lengthened, financing and inspection conditions reappeared, and negotiation margins widened as buyers scrutinized layout efficiencies, renovation requirements and neighbourhood trajectories. Engel & Völkers advisors noted a rise in “micro-bursts,” short-lived pockets of intense activity in high-demand areas where well-priced, well-located homes continued to attract multiple offers. Yet across the broader market, days-on-market reached

“Ottawa’s luxury market has matured into a stable, informed environment. Prices are steady, buyers are discerning and value is increasingly defined at a street-bystreet level. Strategic pricing and trusted guidance matter more than ever, bringing clarity around true value, which is essential for both buyers and sellers.”

their highest level in nearly a decade, a clear indicator of the market’s shift toward balance. The $1-1.99 million residential class segment remained Ottawa’s anchor. New listings in this tier surged, with 2,189 residential class properties coming to market, a 59 per

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John King License Partner Engel & Völkers Ottawa

37 Revol Road Engel & Völkers Ottawa Central

$2-3.99 million

$4 million +

New Listings 60 40 20 0

56 16

273

274

115

150 100 50 0

$1-1.99 million

338 263

300 200 100 0

JANUARY Residential Class

305

149

108 6

FEBRUARY

104

MARCH

APRIL

MAY

135

115

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

Condominium Class

$1-1.99 million

$2-3.99 million

$4 million +

Total Units Sold 60 40 20 0

181

167

140

127

144

60 3

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

60 40 20 0

300

57 2 JANUARY

Residential Class

1 229

200 100

143

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

Condominium Class

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The luxury condo market, though limited in volume,

contributing to elongated timelines for listings that missed

continued to post modest gains as demand remained

the mark on desired layout, finish or price.

concentrated in buildings offering larger floor plans and premium amenities. However, it should be noted that

The ultra-luxury segment over $4 million remained

luxury condos are a difficult housing type in the Ottawa

selective but steady. Inventory rose modestly as a small

area because buyers are seeking larger floor plans than are

number of high-quality properties entered the market,

currently available.

yet absorption remained low. A record high of six publicly recorded sales occurred in 2025 compared to three in

Overall activity in the $2-3.99 million segment was

2024. This pattern is consistent with Ottawa’s long-standing

particularly robust. New listings rose by over 76 per cent as

history of limited transactions at the top end. Pricing

sellers regained confidence and capitalized on increased

was stable, with the highest sale sitting at $5.6 million,

buyer engagement. Sales rose approximately 64 per cent

underscoring Ottawa’s comparative value next to Toronto

across 2025, from 69 sales in 2024 to 113 in 2025 — driven

and Vancouver, where similar homes would command

by interest in heritage homes in the urban core, custom

significantly higher price points.

builds in desirable pockets and move-up buyers seeking long-term stability. Pricing remained stable, with monthly averages fluctuating between $2.2 million and $3.1 million. Buyers demonstrated willingness to pay for turnkey homes but hesitated on properties requiring extensive investment,

$5.68

$4.62

$6 M

$4.42

$4.30

$4 M $2 M

$2-3.99 million

$3 M

$1-1.99 million

$4 million +

Average Sold Price

$3 M

$2.45

$2.57

$2.39

$2.58

$2 M

$2 M $1 M $0

$2.52

$2.55

$0 $0 $3.14

$2.55

$2.34

$2.27

$2.42

$2.25

$1 M $0

$2.49

$1.40

$1.26

$1.32

$2.20 $0

$1.28

$1.33

$1.35

$1.22

$1.21

$1.24

$1.11

JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

Residential Class

$1.28 $1.28

$1.24

$1.50

$1.24 JULY

AUGUST

$1.48

$1.32

$1.03

$1.24

$1.27

$1.31

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

Condominium Class

E N G E L & VÖ L K E R S C A N A D I A N L U X U R Y R E A L E S TAT E M A R K E T R E P O R T Y E A R - E N D 2 0 25

Property Spotlight 6351 Rideau Valley Drive North Chris Lacharity . Engel & Völkers Ottawa South

BEDROO M S

BAT H RO OMS

L I V I NG A R E A

L I S T E D AT

5,000 sq. ft.

$5.9 million

Tucked away on over six impeccably landscaped acres, this

to life, while the newly designed chef’s kitchen anchors

custom-built Terra Nova waterfront estate offers complete

the home. The finished lower level elevates leisure with a

privacy, exceptional amenities and a lifestyle that mirrors a

custom bar, pool table area, theatre room and temperature-

private resort. A gated boat launch leads to all-aluminum

controlled wine cellar.

covered docks equipped with Wi-Fi, video surveillance and remote-controlled jet ski lifts. Inside, walnut floors and

Professionally designed and award-winning landscaping

heated tile run throughout, setting a refined foundation for

surrounds a one-of-a-kind outdoor movie and sports theatre

spaces designed around comfort and convenience.

system, a refinished multi-sport court and expansive fenced grounds. Two detached garages provide over 16 indoor

The main-floor primary suite occupies its own private wing,

parking spaces, while smart-home technology and full-

complete with a personal gym, coffee bar and spa-inspired

property surveillance ensure seamless, secure living in a

ensuite with a steam shower. A four-season sunroom with

waterfront setting of rare scale and serenity.

a built-in grill and kitchen brings year-round entertaining

E N G E L & VÖ L K E R S C A N A D I A N L U X U R Y R E A L E S TAT E M A R K E T R E P O R T Y E A R - E N D 2 0 25

Advisor Commentary This spectacular waterfront estate is far more than a home, it’s a complete lifestyle experience. Set on its own serene bay, it delivers an unmatched blend of privacy, recreation and refined living. From mornings spent kayaking along the shoreline to afternoons by the pool or on the tennis court, every element is designed for ease and connection to the outdoors. Comparable waterfront homes have recently sold for just over $4 million on smaller parcels, highlighting the value of this estate. Its resort-style amenities and flexible, enthusiast-friendly layout make this property an extraordinary value within the current market for premier waterfront homes.

Luxury real estate demand in Manotick continues to rise, with tight inventory and rising buyer confidence driving strong interest in large estates and premium waterfront properties.

E N G E L & VÖ L K E R S C A N A D I A N L U X U R Y R E A L E S TAT E M A R K E T R E P O R T Y E A R - E N D 2 0 25

127 Peridot Private Engel & Völkers Ottawa Central

Engel & Völkers forecasts a 5% increase in average sale prices for properties over $1 million in 2026. Market Outlook Growth through 2026 will be driven by tightening supply

With national attention focused on the volatility in Toronto

and incremental buyer demand. The market is expected

and Vancouver, Ottawa’s steady, fundamentals-driven

to continue stabilizing, supported by Ottawa’s strong

performance positions the capital as one of the country’s

employment base, an expanding professional workforce

most reliable long-term real estate markets. Consistent

and ongoing infrastructure and transit improvements.

demand, stable prices and expanding luxury activity all

Developers continue to face financing constraints and

reinforce Ottawa’s status as a safe and strategic destination

construction delays, suggesting limited new inventory in the

for homebuyers and investors alike.

near term — conditions that could place upward pressure on prices over the next 12 to 18 months.

E N G E L & VÖ L K E R S C A N A D I A N L U X U R Y R E A L E S TAT E M A R K E T R E P O R T Y E A R - E N D 2 0 25

NEIGH BO URH O O D RADAR

Ottawa

Glebe Westboro

Manotick

E N G E L & VÖ L K E R S C A N A D I A N L U X U R Y R E A L E S TAT E M A R K E T R E P O R T Y E A R - E N D 2 0 25

Toronto The average sold price of $1–1.99 million detached homes remained stable, sitting at $1.35 million in 2024 and 2025. Welcome to Toronto

contraction in supply. Average sale prices held within a tight range year-round, with detached home selling prices

In 2025, Toronto’s real estate market navigated a year

sitting primarily between $1.27 million and $1.38 million,

defined by recalibration, shifting buyer psychology, a

underscoring resilient end-user demand for family-sized

dramatically contracting supply of new listings and the

urban housing.

return of a more stable — yet highly selective luxury segment. Across the $1 million-plus market, activity

Condo activity within the $1-1.99 million tier was subdued.

tempo slowed, but not for lack of qualified buyers. Rather,

Engel & Völkers affiliated advisors characterized the condo

it reflected a measured approach to pricing and valuation

market as slow, shaped by elevated inventory and cautious

as consumers adjusted to a new interest rate and tax

investor sentiment. Prices fluctuated modestly, typically

environment. Turnkey offerings in high-demand areas such as Riverdale, the Beaches, Leaside and Avenue Road and Lawrence continued to outperform the broader market in both velocity and price retention. Policy shifts played an influential role throughout 2025. Toronto’s expanded Municipal Land Transfer Tax (MLTT), which introduced significantly higher marginal rates for purchases over $3 million, materially increased closing costs at the top end of the market. Combined with the federal extension of the Prohibition on the Purchase of Residential Property by Non-Canadians Act to 2027, this created friction for discretionary luxury buyers, especially those weighing alternative markets with lower transaction costs. The result was a noticeable cooling in the $2 millionplus categories, not driven by a lack of wealth, but by strategic wait-and-see behaviour.

“It’s a precision market. Turnkey homes still move quickly, but buyers are scrutinizing every detail, price, taxes, carrying costs and long-term value to detail — price, tax, carrying cost and long-term value.”

The $1-1.99 million tier remained the bedrock of Toronto’s luxury market. Between January and December 2025,

Anita Springate-Renaud

3,832 residential detached properties in this segment sold,

License Partner Engel & Völkers Toronto Central

down from 4,513 in 2024, marking a 15 per cent year-overyear decline. Yet new listings fell far more sharply — from 8,474 in 2024 to 4,773 in 2025 — reflecting a meaningful

E N G E L & VÖ L K E R S C A N A D I A N L U X U R Y R E A L E S TAT E M A R K E T R E P O R T Y E A R - E N D 2 0 25

489 Lakeshore Road East Engel & Völkers Toronto Central

New Listings

$4 million +

200

136

100 50 0

165

167

150 48

125

103

0 3

1 1

0 1

4 6

2 13

7 6

1 3

2 4

7 14

3 9

1 4

26 2

431

$2-3.99 million

390

335

400 293

300

287 247 184

200 125 100 0

19 10 11

46 6 7

31 7

175 38 28 3

40 36 3 682

700 $1-1.99 million

28 32 2

32 0

23 41

504

500 238

200 24 19 13 JANUARY

Residential Detached

61 42

181 111 36

228 145

140

202 164

160 126

121

20 16 2

56 11 5 3

566 383

370

300

36 57

639

400

100

9 19

693

526

600

208 126

157 123

110

149 63 20

4 10

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

Residential Semi-Detached

Condominium One Bedroom

Condominium Two Bedroom

Total Units Sold 32

$4 million +

26 18

2 0

000

$2-3.99 million

$1-1.99 million

1 3

155

119

108

118

133 105

12 11

15 13

1815

11 9

5 16

511

7 14

9 13

399

419

391

378

370

358

400 216

200 73

334

268

111 59

171

172

170

3 1

283

249 155

135

125

146

119

100

167 44 33

JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

Residential Detached

2 2

0 177

500

1 1

153

100

17 8

150

300

200

25 21

Residential Semi-Detached

Condominium One Bedroom

Condominium Two Bedroom

E N G E L & VÖ L K E R S C A N A D I A N L U X U R Y R E A L E S TAT E M A R K E T R E P O R T Y E A R - E N D 2 0 25

between $1 million and $1.6 million for one-bedroom units

the year — the most significant being a $27,350,000

and $1 million and $1.3 million for two bedroom units,

Bridle Path sale in February. Another notable transaction

depending on location and building quality, while rising

included a $10,500,000 two-bedroom condo sale in

maintenance fees and borrowing costs contributed to

September. Between January and December 2025, 1,093

longer absorption periods in non-boutique developments.

new residential detached listings entered the market, down from 1,288 during the same period in 2024. Sales

Activity in the $2-3.99 million segment contracted in 2025

decreased from 297 in 2024 to 239, continuing a multi-

as both buyers and sellers recalibrated expectations.

year trend of constrained volume as both discretionary

Residential detached listings declined from 3,935 to

sellers

2,588 year-over-year, while sales fell from 2,026 to

amid rising transaction costs and global economic

1,347, representing a 34 per cent decrease in units

uncertainty. This mirrors the pattern seen in 2024, when

sold. Average sale prices ranged from $2.3 million to

sales also concentrated around unique, design-forward or

$2.8 million, with the strongest results concentrated

remarkable properties.

and

ultra-luxury

buyers

remained

cautious

among renovated or architecturally distinct properties in central neighbourhoods. At the top end of the market, sales over $4 million were lean, though notable transactions did occur throughout

Average Sold Price $10.50 $10 M $7.87

$4 million +

$8 M $6 M $4 M

$6.27 $5.39

$4.51

$7.52 $5.30 $4.77

$5.36

$5.38

$4.77

$4.49

$4.32

$5.70

$4.02

$7.50

$5.24

$4.99 $4.57

$5.02

$6.13

$5.91 $5.60

$5.29

$5.57 $4.72

$4.35

$4.93

$4.99 $4.21

$5.32

$2 M $0

$2-3.99 million

$3 M $2 M

$2.75

$0 $0 $0

$3.12 $2.66 $2.66 $2.63 $2.63

$2.66

$2.65

$2.38

$2.65

$2.73

$2.30

$2.71 $2.65 $2.74 $2.65 $2.44 $2.52 $2.48 $2.51 $2.37 $2.43

$2.80

$2.46 $2.53 $2.61 $2.67

$2.47 $2.51 $2.48 $2.58

$0 $0

$2.38 $2.30

$2.19

$2.30

$2.08

$0 $0 $2.63 $2.60 $2.46 $2.00

$1 M $0

$1-1.99 million

$0 $0

$1.5 M $1.34 $1.38 $1.33 $1.38 $1.33$1.36 $1.35 $1.29 $1.25 M $1.28 $1.25 $1.30 $1.32 $1.27$1.27 $1.25 $1.23

$1.38 $1.34 $1.31

$1.36 $1.34

$1.30 $1.44 $1.34 $1.20

$1.37

$1.34

$1.25

$1.33 $1.26

$1.33 $1.30

$1.11

AUGUST

SEPTEMBER

OCTOBER

$1.29 $1.28 $1.27 $1.26

$1.09

$1 M

$0 $1.61

$1.33

$1.29 $1.29

$1.35 $1.36 $1.26 $1.09

$.75 M $.5 M $.25 M $0 JANUARY Residential Detached

FEBRUARY

MARCH

Residential Semi-Detached

APRIL

MAY

Condominium One Bedroom

JUNE

JULY

NOVEMBER

DECEMBER

Condominium Two Bedroom

E N G E L & VÖ L K E R S C A N A D I A N L U X U R Y R E A L E S TAT E M A R K E T R E P O R T Y E A R - E N D 2 0 25

Property Spotlight 47 Danville Drive Anita Springate-Renaud . Engel & Völkers Toronto Central

BEDROO M S

BAT H RO OMS

L I V I NG A R E A

L I S T E D AT

6,731 sq. ft.

$4.7 million

Located in one of Toronto’s most coveted neighbourhoods,

comfort, elegance and functionality expected at the upper

47 Danville Drive offers exceptional finishes, expansive

tier of Toronto’s market.

rooms and a level of quality that distinguishes it within St.

Andrew-Windfields. Set on a rare 60-foot lot, the home

Designed for buyers seeking a turnkey home with long-term

benefits from impressive frontage, generous outdoor space

value, the residence balances luxury and livability across

and undeniable curb appeal, an offering seldom found in

its multiple levels. With its prestigious location, premium

this enclave. Inside, craftsmanship takes centre stage with

construction and comprehensive amenities, 47 Danville

a Wolf and Sub-Zero kitchen, private elevator, advanced

Drive presents an exceptional opportunity to secure a

home automation and custom millwork throughout.

high-end property in one of the city’s most sought-after

Every detail has been thoughtfully executed to deliver the

neighbourhoods.

E N G E L & VÖ L K E R S C A N A D I A N L U X U R Y R E A L E S TAT E M A R K E T R E P O R T Y E A R - E N D 2 0 25

Advisor Commentary 47 Danville’s pricing strategy is aligned with the area’s top-tier custom homes rather than typical detached sales. Its rare 60 foot frontage alone sets it apart in St. Andrew-Windfields, where wide lots are prized and only available occasionally. With ultraluxury properties trading infrequently in this enclave, discerning buyers who value craftsmanship, premium finishes and a standout lot will immediately recognize its strong value and long-term potential. The response to this listing reinforces the strength returning to Toronto’s upper tier. High-net-worth buyers have been notably active, and the steady stream of inquiries and showings reflects the appeal of quality homes in premier locations.

Toronto’s high-net-worth buyers are exceptionally active and wellexecuted luxury homes in premier neighbourhoods continue to draw strong interest and decisive activity.

E N G E L & VÖ L K E R S C A N A D I A N L U X U R Y R E A L E S TAT E M A R K E T R E P O R T Y E A R - E N D 2 0 25

489 Lakeshore Road East Engel & Völkers Toronto Central Yorkville

Engel & Völkers forecasts Toronto residential properties worth over $1 million will see a 2% price increase in 2026. Market Outlook Engel & Völkers predict that Toronto’s $1 million-plus

growth, employment stability, constrained freehold supply

segment will experience stable to modest price growth

and the eventual return of international buyers — position

in early 2026, supported by improving affordability and

the city for gradual strengthening through 2026.

more predictable financing conditions. Properties between $1-1.99 million — especially renovated freeholds in desirable

With possible additional rate cuts expected to bolster

neighbourhoods — are expected to lead absorption, while

confidence and a leaner pipeline of high-quality listings

the $2–3.99 million range moves toward a more balanced

entering the market, Toronto is poised for a steadier and

state as both pricing expectations and supply normalize.

more predictable start to 2026. Predictable policy and stable financing conditions will be essential to sustaining

Toronto remains one of Canada’s most economically

momentum and reinforcing Toronto’s reputation as one

resilient and globally connected real estate markets. While

of North America’s most desirable and diverse urban

elevated land transfer taxes may continue to constrain

luxury markets.

some luxury activity, long-term fundamentals — population

E N G E L & VÖ L K E R S C A N A D I A N L U X U R Y R E A L E S TAT E M A R K E T R E P O R T Y E A R - E N D 2 0 25

NEIGH BO URH O O D RADAR

Toronto

The Pocket

Runnymede - Bloor West Village

Corktown

“Buyers are making smarter, lifestyle-driven decisions, focusing on walkability, transit, schools and layouts that support a back-to-office routine. Engel & Völkers helps clients align financing, value and life’s priorities with intention.” Patrice Groleau License Partner, Engel & Völkers Toronto City

E N G E L & VÖ L K E R S C A N A D I A N L U X U R Y R E A L E S TAT E M A R K E T R E P O R T Y E A R - E N D 2 0 25

Vancouver The $1–$1.99 million residential detached market saw a 9% decline in units sold in 2025, while prices held steady and new listings rose 18%. Welcome to Vancouver

lagged, reflecting the slower pace of ultra-luxury transactions and buyers’ preference for vibrancy and walkability.

In 2025, Vancouver’s luxury market found its natural

East Vancouver and Mount Pleasant continued to attract

rhythm again. Following two years of constrained volume

fam-ilies seeking detached homes in the $1.5 to $2.5 million

and policy uncertainty, the city’s real estate landscape

range, while Yaletown condos saw modest improvement

transitioned to a fully stable market, balanced, consistent

thanks to competitive pricing and investor exits.

and realistic. The year began with cautious optimism and ended with a clear shift toward equilibrium. Quality properties sold, and well-positioned buyers found opportunities. Detached homes continued to define Vancouver’s market identity. Sales volume improved meaningfully across the mid-luxury segments, with activity under $3 million leading the way. Between January and December 2025, detached sales priced $1-1.99 million declined from 3,705 transactions in 2024 to 3,368 in 2025, while the $2-3.99 million category recorded 2,134 detached sales, down slightly from 2,887 a year earlier, despite higher new-listing counts. Average sale prices across these mid-luxury bands held firm, ranging between $1.49 million and $1.56 million for detached homes and $2.5 million to $2.7 million for those in the $2-3.99 million range. New listings rose modestly year-over-year — reflecting sellers’ renewed confidence — though the quality of inventory remained mixed. New detached home listings priced $1-1.99 million climbed from 7,358 in 2024 to 8,718 in 2025, while those between $2-3.99 million grew from

“Vancouver has entered a new phase of maturity. The days of frenzied bidding and speculation are behind us, but that’s not a weakness. It’s about stability. Quality properties are still commanding strong prices, and informed buyers are finding real opportunity. It’s a balanced market driven by intention rather than impulse.”

7,780 to 8,207. Homes under $1.5 million operated in

Andrew Carros

balanced-to-seller conditions. Sales in Fairview and Kitsilano were among the city’s

Chief Operating Officer Engel & Völkers Vancouver

strongest, signalling robust demand for lifestyle-driven homes close to downtown. Point Grey and Coal Harbour

E N G E L & VÖ L K E R S C A N A D I A N L U X U R Y R E A L E S TAT E M A R K E T R E P O R T Y E A R - E N D 2 0 25

7756 W Saanich Road Engel & Völkers Vancouver

New Listings 274

300 $4 million +

250

237

173

200

186

168 135

150

121 60

8 3

5 4

5 6

4 2

8 3

6 3

4 3

3 2

5 5

2 2

2 1

962

941

834

654

650

1,000 $2-3.99 million

257 205

100 50

800

809

839 720

667 529

600

409

400 200 0

26 15

933

996

921

568

573

50 38

43 41

836 530

550

615

568

500

465

389

378

345

31 31

41 37

750 250

42 35

35 32

53 42

1,000 $1-1.99 million

250

215

448

415

369

393

619

311

34 32

23 16

193 13 10

916

799 468

37 35

338

516 402

245

779 442 286

478 259 214

258 141 101 12

JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

000

153

147

8 10

8 14

6 5

Residential Detached

Residential Semi-Detached

Condominium One Bedroom

Condominium Two Bedroom

Total Units Sold 43

$4 million +

30 20

2 00

1 00

33 23

1 000

165

182

202

217

244

231

$2-3.99 million

400 300 200

137

100 0

168

9 12

7 12

13 16

16 1

611

119

$1-1.99 million

400

312

300 200 100 0

196 143

166 5

257 205

188

334 202

338 206

340 199 106

332

381 317

290

151

131

105

232

194 104

114

98 63

JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

Residential Detached

235

223

Residential Semi-Detached

Condominium One Bedroom

Condominium Two Bedroom

E N G E L & VÖ L K E R S C A N A D I A N L U X U R Y R E A L E S TAT E M A R K E T R E P O R T Y E A R - E N D 2 0 25

Across the $4 million-plus market, sales volumes remained

bour offered aggressive incentives by mid-year, including

thin, but prices proved resilient. Sales of detached homes

25 per cent discounts, underscoring the current reset in

priced over $4 million in October 2025 grew to 43 units —

high-rise pricing.

the highest month of the year — compared to 34 in October 2024. Detached home listings in this category fell from

Despite renewed optimism, Vancouver’s market remains

2,391 in 2024 to 2,281 in 2025, while sales volumes were

well below pre-2022 transaction volumes. Yet prices have

stable. The average sale price ranged from $5 million to

held firm, supported by constrained supply and sustained

$6.2 million. Trophy properties function more like art than

demand for quality listings. The market has settled into a

commodities, retaining value and commanding attention

period of steady equilibrium, stable by most measures,

even as overall sales volumes soften.

though less dynamic than those active in the market have grown accustomed to.

Luxury condos above $3 million remained the weakest segment, with excess inventory and cautious financing slowing absorption. Developers in Burnaby and Coal Har-

Average Sold Price

$4 million +

$6 M

$5.73

$4 M

$5.35 $5.03

$5.30

$6.0 $5.92

$5.18

$5.17

$5.52

$5.10

$4.68

$4.65

$4.50

$4.25

$0 $0

$2.60

$2.79

$2.61 $2.59

$2.61

$6.23

$5.96

$5.69 $4.67

$4.64

$0 $0

$5.07

$6.06 $4.88

$2 M $0

$2-3.99 million

$3 M

$0 $0 $0

$0 $0

$2.77

$2.67 $2.49 $2.30

$2.5 M

$2.72

$2 M

$2.21

$2.12

$2.96 $2.63 $2.33

$2.50 $2.52$2.30

$2.69

$2.67

$2.31

$0 $0 $0

$2.74 $2.74

$2.50$2.58

$2.35 $2.35

$2.42

$0 $0 $0

$2.67

$2.67 $2.50

$2.61

$2.37 $2.37

$2.58

$0 $0

$2.57 $2.43 $2.53

$2.19

$1.5 M $1 M $500 K $0

$1.5 M

$1-1.99 million

$1.25 M

$1.54

$1.55

$1.53

$1.55

$1.27

$1.30 $1.24 $1.30

$1.27 $1.27

$1.20

$1 M

$1.27 $1.27

$1.56

$1.29 $1.23

$1.29 $1.29 $1.24

$1.12

$1.52

$1.54

$1.53

$1.51

$1.49

$1.28

$1.28 $1.26

$1.31

$1.29 $1.23

$1.22

$1.32 $1.22

$1.10 $1.27

$1.06

$1.19 $1.21

$1.26

$1.18

$1.20

$1.54

$1.31 $1.27

$1.03

$750 K $500 K $250 K

$0 JANUARY Residential Detached

FEBRUARY

MARCH

Residential Semi-Detached

APRIL

MAY

Condominium One Bedroom

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER

Condominium Two Bedroom

E N G E L & VÖ L K E R S C A N A D I A N L U X U R Y R E A L E S TAT E M A R K E T R E P O R T Y E A R - E N D 2 0 25

Property Spotlight 21740 44 Avenue Matt van den Boogaard . Engel & Völkers Ocean Park

BEDROO M S

BAT H RO OMS

L I V I NG A R E A

S O L D P R I CE

3,940 sq. ft.

$3.1 million

21740 44 Avenue is a custom-built luxury residence in

The flexible floor plan includes a main-floor den or fifth

the heart of Murrayville, set on a 19,267 square foot lot

bedroom, while the upper level offers three additional

with a private, south-facing backyard overlooking a quiet

bedrooms, walk-in closets and a spacious recreation room.

Agricultural Land Reserve. Built in 2017 with 3,940 square

Outdoors, the property offers exceptional utility with a

feet of living space, the home blends elegance, comfort

two-car attached garage, an oversized detached garage

and craftsmanship. A main-floor primary suite anchors

and workshop, gated RV parking, in-ground sprinklers and

the layout, while a vaulted great room with a 15-foot-wide,

extensive driveway space. 21740 44 Avenue represents a

8-foot-tall sliding door system creates seamless indoor–

rare combination of luxury, privacy and functionality in one

outdoor living. The oversized gourmet kitchen features

of Langley’s most coveted communities.

custom cabinetry, Thermador appliances, dual dishwashers, three sinks and a walk-in pantry, supporting both everyday living and large-scale entertaining.

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Advisor Commentary This sale reflects the realities of today’s softer, rate-driven market. Even a well-built, beautifully maintained home in a desirable area required a price adjustment before buyers engaged. Although the original March listing price aligned with recent comparables, activity remained limited, underscoring how sensitive buyers are to pricing right now. Once the property was offered at $2,899,000, interest increased immediately, and two offers followed within the first week, leading to a successful sale. We continue to advise sellers to price ahead of the market rather than behind it. Conditions are shifting quickly and a price that feels right based on past sales may already be too high by the time the listing launches. Longer days on market and multiple adjustments are becoming more common, but motivated buyers are still active, provided a home is positioned with today’s realities in mind.

Langley’s luxury market remains price-sensitive, with strong interest for quality homes that meet current buyer expectations on value, condition and location.

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7756 W Saanich Road Engel & Völkers Vancouver

Engel & Völkers forecasts Vancouver residential properties worth over $1 million will see a 3% price increase in 2026. Market Outlook Vancouver’s housing market heads into 2026 on

reflects a more mature and measured marketplace, one

firmer footing, defined less by speculation and more by

where informed participants are driving outcomes rather

discernment. Buyers continue to favour lifestyle-oriented

than momentum or fear of missing out.

neighbourhoods such as Kitsilano, Fairview and Mount Pleasant, where access to amenities, schools and walkable

Despite years of policy intervention, evolving zoning rules

streets enhances long-term value.

and global economic volatility, Vancouver has avoided any significant price correction. The city’s constrained

For sellers, precision matters. Homes that are realistically

geography and enduring appeal as a safe-haven market

priced, well-maintained and strategically presented are

have reinforced its stability, positioning 2026 as a year

still attracting multiple offers, while listings that test the

of steady growth and renewed confidence across the luxury

upper limits of value are sitting longer. This divergence

and mid-luxury segments.

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NEIGH BO URH O O D RADAR

Vancouver

North Vancouver

Kitsalano

Fairview

Mount Pleasant East Vancouver

South Surrey

Ocean Park

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evrealestate.com ©2026 Engel & Völkers Canada, Inc. All Rights Reserved. Each brokerage independently is owned and operated. The information contained in this report, gathered by Engel & Völkers Canada, Inc., references market data from MLS® boards across Canada and commentary from its trusted license partners and advisors. Actual results may vary and we cannot represent that the content is accurate or complete. This market report is provided for general information only and not to be relied upon in any way. Engel &Völkers Canada, Inc. and its affiliates do not assume any responsibility or liability whatsoever for any loss or damage that may result from any use of, reliance upon, or reference to the information provided in this market report. This document is not an offering of a franchise, and where required by law, an offering can only be made 14 days after delivery of the applicable franchise disclosure document. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.