Article content

Forget the $1-million home — high-end real estate firm Sotheby’s Canada says the fastest growing segment of the market in Canada’s priciest cities is in the $4-million-plus range.

In its report out Thursday on so-called top-tier real estate, the firm looks at the market for homes worth more than $1 million in Vancouver, Toronto, Montreal and Calgary.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Forget the $1M home — the hottest part of the housing market is $4-million-plus, report says Back to video

“The numbers from 2015, clearly show there is very high demand for luxury real estate,” said Elaine Hung, vice-president of marketing for Sotheby’s International Realty Canada. “This is particularly true in Vancouver and the Greater Toronto Area.”

Sotheby’s Canada says sales in Vancouver of detached home worth $4 million or more were up 65 per cent in 2015 from a year earlier, while sales in the $1 million to $2 million category only jumped 36 per cent and sales in the $2 million to $4 million range were up 45 per cent in the same period.