Vancouver's Boujee Crib Market Going Through It 📉🏠

The Real Tea ☕️

Okay, listen up, because this is some real estate drama you need to know. Vancouver's luxury home market? Yeah, it's not looking good. We're talking about those mansions and penthouses that cost more than your entire future. Sales of homes over $4 million? They've dipped by a whopping 51% compared to last year. That's the biggest L of all the major Canadian cities, no cap.

And it's not just the super-rich homes, either. Even properties over $1 million saw a 26% decrease in sales. Basically, if you're trying to flex with a fancy crib in Vancouver, it's gonna be tough out here. Only two places over $10 million? Like, what? That's just sad.

So, what's the deal? Apparently, all this economic and geopolitical uncertainty is making buyers sus. Everyone's playing it safe, waiting to see what happens next. Even though interest rates were chilling at 2.75%, it didn't do anything to help the market bounce back. Yikes.

Meanwhile, Toronto's feeling the burn too. But hold up, Montreal and Calgary are doing their own thing. They're seeing increases in luxury home sales. Talk about a plot twist! Montreal's condo market is even poppin' off. Vancouver and Toronto on the other hand? 😬

The experts are saying not to expect a major comeback in Vancouver anytime soon. It's gonna be a chill summer for the luxury market, with everyone just watching and waiting. This aint bussin!