Luxury real estate sales up 171% last year in Vancouver

Luxury real estate 'way up'

High-end homeowners in Vancouver who sold their properties in 2021 had a pretty good year.

CTV News Vancouver is reporting that sales of properties with price tags higher than $4 million rose a hefty 171 per cent year over year.

The information from Sotheby's International Realty indicates 410 properties over $4 million were sold in the Vancouver area in 2021. The number includes condos, attached homes and single-family homes, but the trend also appears to be spreading across the province.

"Canada's real estate market was redefined in 2021," Sotheby's said.

Buyers' preferences appear to have been impacted by the pandemic with a shift towards more people working from home, concerns over commute times were trumped by safety and space.

-with files from CTV News Vancouver

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