Luxury home sales fell by 60 per cent in the GTA, Oakville and Hamilton: RE/MAX

TORONTO - Luxury home sales in the Greater Toronto Area, Oakville and Hamilton-burlington have fallen by almost 60 per cent year-over-year, according to a RE/MAX report. The real estate company says 76 freehold and condominium properties in the GTA sold for more than $3 million between Jan. 1 and Feb. 28, down from 180 sales during the same period last year.

In Oakville, six homes in the same price range sold early this year, in comparison to 15 a year ago.

Homes priced above $1 million in Hamilton-burlington saw a 55 per cent drop to 59 homes sold at the start of the year from 133 in 2017.