There are more homes valued at $1 million or more in Greater Vancouver and the Greater Toronto Area than in the entirety of the rest of Canada, according to a recent study published by Point 2 Homes.
The study considered homes listed for sale on major real estate sites in the 50 largest cities in Canada and created a “luxury ratio” based on homes listed at $1 million or more relative to all listed properties in a given city.
Vancouver dominated the list, showing a striking 76% of all city homes valued at $1 million or more. Ontario’s Richmond Hill was a close second, at 67%. The top nine cities in the list all had $1-million-plus ratios of 50% or higher. Not one city outside of the BC or Ontario was seen on the list until the 22nd ranking.
See the “luxury ratios & luxury rank” graph below.