Luxury home sales rose in seven of 13 major Canadian real estate markets in the first nine months of 2026, even as the broader housing market faced affordability pressures and economic uncertainty, according to a Remax Canada report cited by Global News.

Burlington, Ont., recorded the largest increase among the markets highlighted, at 26.3 per cent. St. John’s followed at 21 per cent, Calgary at 20.6 per cent, Edmonton at 15.9 per cent and Saskatoon at 15.3 per cent.

The findings point to a divide between buyers at the top of the market and those struggling with the cost of purchasing a home. Global News reported that the Canadian Real Estate Association recorded a 2.3 per cent monthly decline in overall home sales in September, with rising fixed mortgage rates and economic uncertainty putting further pressure on affordability.

Although luxury sales growth was strongest outside Toronto and Vancouver, the most expensive properties in the Greater Toronto Area also gained ground.

Sales of GTA homes priced at $7.5 million or more increased 17.6 per cent. Eighteen homes sold for more than $10 million, including 15 within Toronto — the city’s highest annual count in a decade, according to the reporting. One property in the Forest Hill neighbourhood sold for $23 million.

The slowdown in Toronto’s luxury market was concentrated among homes priced between $3 million and $7.5 million.

“Wealth enables a home purchase. Confidence and the right opportunity motivate it,” Michael Altneu, Remax’s vice-president of luxury, told Global News.

The report does not mean every high-end seller is getting their asking price. A Royal LePage West realtor quoted by Global News described months-long negotiations around Vancouver and properties selling for more than $10 million after initially being listed at $16 million to $18 million.

Sources