1 In 5 Vancouver Homes Now Sell For More Than $1 Million

Featured in the Huffington Post Canada

One in five houses sold in the Vancouver real estate market this year went for more than $1 million, according to data from the Canadian Real Estate Association.

CREA's data show the percentage of homes sold above the million-dollar mark has doubles since 2009. The same is true for Toronto, where more than 5 per cent of homes sold this year went for more than $1 million. That's double the percentage in 2009.

In Calgary, the number of million-dollar homes sold has already exceeded 400 this year, up from 340 in 2010. This year the market is on track to exceed the all-time record -- 461 million-dollar homes -- set in 2007.

The percentage of homes sold above $1 million has doubled in the past two years. In the first nine months of 2011, fully one in five homes sold on the Vancouver market went for more than $1 million. That's up from 10.1 per cent in 2009.

Chris Frederickson | Sutton Group West Coast Realty | 604.306.1062 | chris@chrisfrederickson.ca