One in five houses sold in the Vancouver real estate market this year went for more than $1 million, according to data from the Canadian Real Estate Association.
CREA's data show the percentage of homes sold above the million-dollar mark has doubles since 2009. The same is true for Toronto, where more than 5 per cent of homes sold this year went for more than $1 million. That's double the percentage in 2009.
In Calgary, the number of million-dollar homes sold has already exceeded 400 this year, up from 340 in 2010. This year the market is on track to exceed the all-time record -- 461 million-dollar homes -- set in 2007.