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  • February 26, 2023

Sales activity among luxury homes in Toronto and Vancouver saw a decline in 2022, according to new data released by Sotheby’s International Realty Canada on Wednesday. However, other major Canadian cities such as Montreal and Calgary saw sales volumes stabilize or even increase throughout the year.

The luxury real estate company’s year-end report points to a 24-per-cent decline in residential sales valued at more than $4 million in the Greater Toronto Area throughout 2022, compared to the previous year. Residential sales of more than $10 million dropped 29 per cent year-over-year.

“Overall, $1 million-plus residential sales saw an annual decline

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