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Expect More Million-Dollar Homes in Vancouver


Vancouver saw an 8.6% increase in sales of detached homes over $1M this summer versus last, but a 68.9% spike in sales of condos north of $1M, according to a new report from Sotheby's International Realty Canada. The firm notes there's been a 50% year-over-year jump in the city’s $4M-plus market, including six condo deals (a 200% increase over summer 2014) and 57 detached-home sales (a 42.5% increase). Sotheby's projects limited inventory, strong consumer demand, low interest rates and international buyers will continue to drive favourable seller conditions this fall and push sales above list prices.