According to a recent report by RE/MAX, there have been significant gains at the top end of the country’s housing market, which continues to demonstrate the overall strength and resilience of Canadian real estate in 2013.
What’s been propelling the sales of luxury homes in Hamilton-Burlington 2013 residential real estate market are the local buyers accompanied with a surge of buyers from the Greater Toronto Area (GTA). The number of properties sold over the $750,000 price has increased by 31 per cent year-over-year, with 436 high-end homes changing hands in 2013, up from 334 units one year earlier.
“Canada’s luxury housing market has undergone serious transformation in recent years, setting a new standard for lifestyles of the rich and famous,” says Gurinder Sandhu, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada. “High-end homes are commanding top dollar in blue chip neighbourhoods from coast to coast. Condominiums are hitting price points that rival single-detached homes. The market is maturing and the appetite is unprecedented.”
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