Half of the homes for sale in February in these 7 regions in the GTA cost more than $1 million: report
More than half of the homes for sale in seven regions in the GTA were listed for more than $1 million in February, according to a recent Point 2 Homes report.
Oakville was tops among Ontario communities with 69.1 per cent of the properties listed for sale in February carrying sticker prices in excess of $1 million.
However, two British Columbia cities had a even higher proportion of so-called “luxury” homes – Delta, BC (80.5 per cent) and Vancouver (70.5) per cent.
According to Point 2 Homes the study is based on active listings on Realtor.ca at the time of the analysis, which was on Feb. 19, 2024. It says that the home prices were sourced from CREA and local realtor boards in January 2024.
Richmond Hill was fourth on the list with 63.5 per cent of its 430 listings at or above $1 million price point. Newmarket was sixth (61 per cent) while Vaughan (58.6 per cent), Markham (58.3 per cent) Brampton (51.6 per cent) and Whitby (50.3 per cent) rounded out the Ontario cities on the list.
In addition, the study considered houses for sale at or above $4 million, where Vancouver ranked first with 12.7 per cent of its listings at the multi-million dollar level. Following suit are Oakville, Richmond, Vaughan, Milton and Markham in Ontario, where between five and seven per cent of its listings reached that price point.
In Toronto 4.5 per cent of listings in the city were at or above $4 million.
In the GTA, the average priced Toronto home sold for $1.1 million in February, according to the latest Toronto Region Real Estate Board data.
While the market has softened since the bank of Canada began to increase interest rates two years ago, the report found that the average price of a house in Toronto has been at, or above, $1 million since early 2021. Houses in Vancouver have had an average cost of at least $1 million since 2020, and as of last month, houses in Canada sold for an average price of just over $659,000.
CTVNews.ca Top Stories
'A step forward': New screening criteria for sperm donors takes effect
Canadians looking to grow their families with the assistance of sperm or egg donations should soon have more options for donors as the federal health agency does away with longstanding restrictions criticized as discriminatory.
Ontario Provincial Police arrest 64 suspects in child sexual exploitation investigation
Ontario Provincial Police say 64 suspects are facing a combined 348 charges in connection with a series of child sexual exploitation investigations that spanned the province.
U.S. presidential candidate RFK Jr. had a brain worm, has recovered, campaign says
Independent U.S. presidential candidate Robert F. Kennedy Jr. had a parasite in his head more than a decade ago, but has fully recovered, his campaign said, after the New York Times reported about the ailment.
What is whooping cough and should Canadians be concerned as Europe declares outbreak?
There is currently a whooping cough epidemic in Europe, with 10 times as many cases compared to the previous two years. While an outbreak has not been declared nationwide in Canada, whooping cough is regularly detected in the country.
Pfizer agrees to settle more than 10K lawsuits over Zantac cancer risk: Bloomberg News
Pfizer has agreed to settle more than 10,000 lawsuits about cancer risks related to the now discontinued heartburn drug Zantac, Bloomberg News reported on Wednesday, citing people familiar with the deal.
Case against ex-Mountie charged with helping China can go ahead in Quebec, judge says
A Quebec court judge has ruled that the case against a former RCMP officer charged with helping China conduct foreign interference can go ahead in the province.
Steve Albini, legendary producer for Nirvana, the Pixies and an alternative rock pioneer, dies at 61
Steve Albini, an alternative rock pioneer and legendary producer who shaped the musical landscape through his work with Nirvana, the Pixies, PJ Harvey and more, has died. He was 61.
Ippei Mizuhara, ex-interpreter for baseball star Shohei Ohtani, will plead guilty in betting case
The former interpreter for Los Angeles Dodgers star Shohei Ohtani has agreed to plead guilty to bank and tax fraud in a sports betting case in which prosecutors allege he stole nearly US$17 million from the Japanese baseball player to pay off debts, federal prosecutors said Wednesday.
Watch fighter jet pilots pummel fake enemy ship off coast of Philippines
The United States and Philippines held annual joint-training drills just off the Southeast Asian nation’s western coast on Wednesday. Military forces sunk a 'mock' enemy warship – the BRP Lake Caliraya, which was a decommissioned tanker made in China.