Luxury home sales activity is expanding beyond Canada’s largest urban centres, with smaller and mid-sized markets recording stronger growth in early 2026, according to a new report from REMAX Canada.
The 2026 Spring/Summer Spotlight on Luxury Report found that while Toronto and Vancouver still account for a large share of high-end transactions, several secondary markets posted notable year-over-year gains, reflecting changing buyer preferences and broader economic factors.
The report points to a shift in where affluent buyers are choosing to invest, with comparatively more affordable markets benefiting from migration, economic diversification and lifestyle considerations. This trend suggests a more regionally distributed luxury housing sector, rather than one concentrated in traditional high-cost cities.
Edmonton recorded the largest increase in luxury sales activity, up 47.7 per cent compared with the same period in 2025. Saskatoon followed with a 27.3 per cent gain, while Ottawa rose 17.5 per cent and Calgary increased 13.5 per cent. Additional growth was observed in Winnipeg, London–St. Thomas and Halifax–Dartmouth.
Don Kottick
“Luxury is no longer defined solely by Canada’s largest urban centres,” said Don Kottick, President of REMAX Canada. “Smaller and mid-sized markets are experiencing increasing or stable conditions at the higher end of the luxury segment, largely supported by economic diversification, population growth, and continued demand for lifestyle-oriented properties. Meanwhile, in the country’s largest and more expensive markets, uncertainty has prompted affluent buyers to take a more measured approach.”
The report examined luxury housing trends across 12 Canadian markets between Jan. 1 and April 30, 2026, compared with the same period a year earlier. It found that several smaller and more affordable markets outperformed traditional high-end centres, supported by local economic conditions and sustained population growth.
“We’re seeing a rebalance of luxury spending, not a decline overall,” added Kottick. “Canada’s luxury market is becoming more dynamic and more regional, focusing less on where wealth has been historically concentrated and more on where buyers see value and long-term opportunity.”
Among the key findings, the report noted that demand is strongest at entry-level luxury price points in cities such as Calgary, Edmonton, Ottawa, Halifax and London. These segments are seeing higher levels of buyer activity and faster inventory turnover.
Markets with diversified employment bases also showed stronger performance. Cities including Calgary, Edmonton, Ottawa, London and Winnipeg were identified as benefiting from sectors such as government, technology, advanced manufacturing, logistics and energy, which are helping sustain demand despite broader economic uncertainty.
Migration patterns are also influencing the luxury segment. Interprovincial movement and expanding buyer pools are supporting higher-end activity in markets like Calgary, Saskatoon, Ottawa and Niagara, particularly where buyers perceive a combination of value and lifestyle advantages.
Thirdman photo
The report also highlights a growing emphasis on lifestyle-driven purchases. Buyers in regions such as Halifax, Niagara, Edmonton and Ottawa are showing increased interest in waterfront, acreage and estate-style properties, reflecting demand for space, privacy and location-specific amenities.
At the same time, luxury buyers are described as becoming more selective. In markets including Vancouver, London, Winnipeg and Montreal, there is stronger demand for turnkey or recently renovated homes, while higher-priced properties are taking longer to sell.
The findings suggest a shift in buyer behaviour toward value-oriented decision-making, even within the luxury segment, as purchasers weigh pricing, property condition and long-term potential more carefully.
The report is based on transaction data and market analysis conducted by REMAX Canada across the surveyed regions.
“We’re seeing a rebalance of luxury spending, not a decline overall,” added Kottick. “Canada’s luxury market is becoming more dynamic and more regional, focusing less on where wealth has been historically concentrated and more on where buyers see value and long-term opportunity.”
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Entrepreneur. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 and 2024 as one of the top business journalists in the world by PR News. He was also named by RETHINK to its global list of Top Retail Experts 2024, 2025 and 2026.
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